Estimated Monthly Payment — Median Pennsylvania Home
$2,131
Based on $280,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$280,000
Property Tax
1.58%
Avg. HOA
$200/mo
Median Rent
$1,200/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Pennsylvania housing market
Pennsylvania's housing market is well below the national average, with a median home price around $280,000. Philadelphia is the largest metro, with Pittsburgh a close second. Pennsylvania offers reasonable home prices and two distinct major metros — Philadelphia and Pittsburgh — each with their own labor markets and culture. Pennsylvania's effective property tax rate of 1.58% is above the national average.
The median Pennsylvania home costs $280,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,445, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $2,131. First-time buyers in Pennsylvania can explore programs through Pennsylvania HFA.
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FAQ
Pennsylvania mortgage FAQs
What's the property tax rate in Pennsylvania?
Pennsylvania's effective property tax rate averages about 1.58% — above the national average. On a $280,000 home, that's roughly $369/month or $4,424/year.
How much do I need to earn to afford a typical Pennsylvania home?
Using the 28/36 rule, a buyer would need roughly $80,000–$102,000 in gross annual income to comfortably afford Pennsylvania's $280,000 median home with 20% down at current rates.
What first-time buyer programs are available in Pennsylvania?
PHFA offers the Keystone Home Loan with below-market rates and Keystone Advantage Assistance providing up to $10,000 in down payment and closing cost help. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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