Estimate your monthly mortgage payment in Pennsylvania — principal & interest plus Pennsylvania property tax and homeowner’s insurance.
Buying a home in Pennsylvania: what to know
Pennsylvania is a seller’s market inching toward balance: median price $330,000 in Aug 2026 (+4.7% YoY), ~4.57 months of inventory, with Philadelphia and Pittsburgh setting prices while inland markets stay notably more affordable. (Pennsylvania Association of Realtors, Sept 2026) With a median home price of $290,401 (Zillow ZHVI, Aug 2026 (+2% YoY)), 20% down means borrowing about $232,321 — within the 2026 conforming limit of $832,750 for most Pennsylvania counties. Property taxes run about 1.26% of assessed value (effective rate), and insurance averages $1,120 a year statewide — both baked into the calculator above. First-time buyers should check out PHFA Keystone Forgivable in Ten Years (K-FIT) and PHFA Keystone Advantage Assistance Loan before shopping lenders.
Pennsylvania mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $290,401 |
| Median effective property tax rate | 1.26% |
| Average homeowner’s insurance | $1,120/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026 (+2% YoY)), Tax Foundation (2024 ACS data (Tax Foundation ‘Property Taxes by State and County, 2026’ report)), NAIC via Insurance Information Institute (2022 (NAIC data, reported by III May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Pennsylvania first-time buyer programs
- PHFA Keystone Forgivable in Ten Years (K-FIT) — Second mortgage up to 5% of the lesser of purchase price or appraised value (no dollar cap), forgiven 10% per year over 10 years; paired with the PHFA Keystone Home Loan, 660+ credit score required. Official site
- PHFA Keystone Advantage Assistance Loan — Interest-free second loan up to $6,000 or 4% of the purchase price (whichever is less) for down payment/closing costs, repaid monthly over 10 years; minimum 660 credit score. Official site
How to use this calculator
Start with Pennsylvania’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Pennsylvania’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on a Pennsylvania-priced home. Compare a 15-year term against 30 years to see the lifetime-interest tradeoff before you commit.
Worked example: a median Pennsylvania home
Take a median-priced Pennsylvania home at $290,401. With 20% down ($58,080), the loan amount is $232,321. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $1,608.54/month. Add property tax of about $304.92/month (1.26% of $290,401, divided by 12) and insurance of about $93.33/month ($1,120 a year), for a total estimated payment of $2,006.80/month. Over 30 years, total interest would be about $346,754. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Pennsylvania for 2026?
The 2026 baseline conforming loan limit for a one-unit property is $832,750 across most of Pennsylvania, per the FHFA’s November 2025 announcement.
How much are property taxes in Pennsylvania?
The median effective property tax rate in Pennsylvania is about 1.26% of a home’s assessed value (Tax Foundation, 2024 ACS data (Tax Foundation ‘Property Taxes by State and County, 2026’ report)). On a $290,401 home, that’s roughly $3,659 a year, or $304.92 a month — already included in the calculator above. Actual bills vary by county and municipality.
What is the difference between PHFA’s K-FIT and Keystone Advantage loans?
K-FIT gives up to 5% with no dollar cap and is forgiven over 10 years with no monthly payments; Keystone Advantage gives up to 4% or $6,000 at 0% interest repaid monthly over 10 years. Both require a 660+ credit score, and the two cannot be combined on the same loan.
Is there a grant specifically for buying in Philadelphia?
Yes — Philly First Home offers eligible first-time buyers up to $10,000 (or 6% of the price, whichever is less) for down payment and closing costs; buyers must complete city-funded homeownership counseling before signing the agreement of sale.