District of Columbia Mortgage Calculator
This calculator pre-fills District of Columbia's local figures — a median home price near $630,000 (50% pricier than the U.S. median), property tax at 0.57% of home value per year (below the national average, roughly $299/month here), and typical homeowners insurance of about $138/month — so the estimate reflects buying in District of Columbia, not a generic national number. All told, a median-priced purchase with 20% down on a 30-year loan runs near $3,623/month before HOA dues or PMI. Adjust any input to match the home you're actually considering, and the tax and insurance lines recalculate with it.
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Amortization schedule
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Property taxes in District of Columbia
District of Columbia's effective property-tax rate is about 0.57% of a home's value each year — lower than the U.S. average of 1.1%. On the state's median home price of $630,000, that works out to roughly $3,591/year ($299/month) added to your payment.
Good to know: The District offers owner-occupants a homestead deduction that reduces the taxable assessment, and its residential rate is low by big-city standards — the high bills come from high values, not high rates.
For the full formula and a worked example, see the main Mortgage Calculator.
Homeowners insurance in District of Columbia
Lenders require homeowners insurance, and in District of Columbia it averages about $1,656/year ($138/month) for a policy with $300,000 in dwelling coverage — 35% below the U.S. average of $2,543. Premiums are comparatively affordable here, though rates still vary with the home's age, construction and distance from a fire station. The calculator above already includes this figure in the monthly estimate — replace it with a real quote when you have one.
Buying a home in District of Columbia
A typical District of Columbia purchase looks like this: the median home at $630,000 — 50% pricier than the $420,000 U.S. median — bought with 20% down on a 30-year loan near 6.5% costs about $3,186/month in principal and interest. Property tax adds $299/month at the state's 0.57% effective rate (below the national average), and average homeowners insurance another $138/month, for an all-in figure around $3,623/month — before HOA dues or PMI if your down payment is under 20%. The calculator above uses these local defaults, so adjusting the price or rate recalculates the whole picture for District of Columbia.