Mortgage Calculator for Georgia — Includes Property Tax & Insurance
In Georgia, the median home costs $330,000, and property taxes there are close to the national average at an average of 0.92% of assessed value — which adds roughly $253 to the monthly payment on a median-priced Georgia home. Homeowners insurance in Georgia averages $1,700 a year ($142/month), above the national average. Putting 20% down at Georgia's typical 30-year fixed rate of 7.1%, your full PITI payment — principal, interest, taxes, and insurance — comes to about $2,169 per month. The calculator below is pre-filled with these Georgia figures so you can adjust any input and see the impact instantly.
A buyer earning Georgia's median household income of $67,000 would dedicate roughly 39% of gross monthly income to housing — significantly strained by the standard 28% guideline.
Median Home Price
$330,000
Avg 30-yr Rate
7.1%
Property Tax Rate
0.92%/yr
Est. Monthly PITI
$2,169
Mortgage Calculator
Total Monthly Payment
$2,168.83
Loan Amount
$264,000
Total Paid
$638,699
Total Interest
$374,699
How to Get a Mortgage in Georgia
- 1 Check your credit score. In Georgia, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $330,000 Georgia home, 20% down is $66,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Georgia average 7.1%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $7,920–$13,200 on a median Georgia purchase.
- 5 Budget for ongoing costs: Georgia property taxes average 0.92%/yr ($3,036/yr on the median home), plus homeowner's insurance averaging $1,700/yr.
Monthly Cost Breakdown — Median Georgia Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Georgia Mortgage FAQs
What is the average home price in Georgia?
The median home price in Georgia is $330,000 (2024 estimate). With a typical 20% down payment of $66,000, a buyer would finance $264,000 at a 30-year fixed rate.
What are property taxes like in Georgia?
Georgia has an average effective property tax rate of 0.92% of assessed home value. On a $330,000 home, that's approximately $3,036 per year ($253/month) — below the national average of 1.07%.
How much income do I need to buy a home in Georgia?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Georgia home, you'd need to earn roughly $92,950 per year. The state's median household income is $67,000, meaning the typical household allocates about 39% of gross income to housing — significantly strained.
What is the average mortgage rate in Georgia?
The average 30-year fixed mortgage rate in Georgia is approximately 7.1% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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