What are average mortgage rates in California in 2026?

Mortgage rates in California generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's California mortgage calculator to model your payment at current rates.

How much are closing costs in California?

Closing costs in California typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's California mortgage calculator to include closing costs in your calculation.

What are property tax rates in California?

Property tax rates in California range from 0.3% to 2.5% of assessed value. CalcDeck's California calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in California?

California offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's California calculator to see how programs affect your payment.

How do I use the CalcDeck California mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match California averages. Get instant monthly payment, total interest, and amortization schedule.

California Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for California homeowners.

California at a Glance

Median Home Price: $753,000
Property Tax Rate: 0.76%
Median Household Income: $92,515
Annual Property Tax: $5,723

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in California

Based on the California median home price of $753,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$602,400	$715,350
Principal and Interest	$3,887	$4,616
Property Tax (CA)	$477	$477
Homeowners Insurance	$125	$125
PMI	$0	$298
Total Monthly	$4,489	$5,516

How Much House Can You Afford in California?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$192,388/year to afford California's median home
With 5% down, you need ~$236,398/year
California's median household income is $92,515

California insight: California's property tax rate of 0.76% is near the national average.

California Housing Market Overview

California remains the nation's most expensive housing market, with a statewide median of $753,000. San Francisco's median exceeds $1.2 million, Los Angeles $880,000, San Diego $915,000, and even inland cities like Sacramento ($510,000) and Fresno ($380,000) are well above national norms. Inventory is critically low at 2.1 months of supply. The median household income of $92,515 still yields a price-to-income ratio of 8.1—nearly double the national affordable threshold. The effective property tax rate of 0.76% is moderate, but California's Prop 13 limits reassessment increases, creating huge disparities where neighbors pay vastly different taxes. Wildfire insurance has become a crisis—some insurers have exited the state, and high-risk areas (Paradise, Malibu, Santa Rosa) see premiums exceed $4,000/year or require FAIR Plan coverage.

First-Time Homebuyer Programs in California

The California Housing Finance Agency (CalHFA) offers multiple first-time homebuyer programs. The CalHFA Conventional and CalHFA FHA loans feature below-market rates with down payment assistance up to 4% of the purchase price via the MyHome Assistance Program—capped at $80,000 in high-cost counties like Los Angeles and San Francisco. CalHFA also provides closing cost assistance of up to $6,000 through the Zero Interest Program (ZIP). The California Dream For All Shared Appreciation Loan covers up to 20% of the purchase price with no monthly payments, repaid only upon sale or refinance as a percentage of appreciation. Local programs include LA County's HOME program ($90,000 grants), San Francisco's DALP ($375,000 deferred loans), and San Diego's SDHC program ($75,000 assistance). Income limits in LA County: $135,200 for a two-person household.

Tips for Homebuyers in California

1) Budget $500–$900/month for property taxes on a median CA home—Prop 13 base rates are 1% plus local bonds, making effective rates vary by city from 0.6% to 1.4%. 2) Wildfire insurance is non-negotiable in high-risk zones; get quotes before making an offer—some areas require the California FAIR Plan. 3) In LA/SF, expect bidding wars on homes under $1M; waive contingencies only if you can afford the risk. 4) Earthquake retrofitting: older homes (pre-1980) in the Bay Area need foundation bolting—budget $3,000–$7,000. 5) The best buying window in CA is September–November when tech IPO season fades and inventory ticks up slightly. 6) HOAs are common in condos and planned communities—verify monthly fees ($400–$800) are included in your DTI calculations.

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California Mortgage FAQ

What is the median home price in California?

The median home price in California is approximately $753,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in California?

The effective property tax rate in California is approximately 0.76% (Tax Foundation). On a $753,000 home, that is about $5,723/year in property taxes.

How much income do I need to buy a home in California?

Using the 28/36 rule with 20% down at 6.7%, you would need about $192,388/year to afford the median California home at $753,000. With 5% down (including PMI), about $236,398.

What will my monthly mortgage payment be in California?

On California's median home price of $753,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $4,489. With 5% down including PMI, about $5,516.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.