Buying a home in the US means budgeting well beyond the mortgage: property tax swings enormously from one state to the next, homeowners insurance is a real and sometimes crisis-level monthly cost, and a down payment under 20% adds PMI until you build equity. These tools localize all of it, state by state.

Property tax range: 0.29%–2.47% of value
Home insurance range: $659–$7,136/yr
PMI: required under 20% down

What buying costs in the US

Property tax is the big variable: it runs from about 0.29% of a home's value a year in the lowest states to over 2.47% in the highest, so an identical home can cost thousands more per year to hold depending on the state.

Homeowners insurance ranges even more widely — from around $659 to over $7,136 a year — because disaster risk drives it, and several states (Florida, California) are in an availability crisis. Below 20% down, PMI is added until your loan-to-value reaches 78%. There's no national purchase tax; transfer taxes are local and vary.

How affordability works here

US lenders use the 28/36 rule — roughly 28% of gross income toward housing and 36% toward all debt — with many stretching to 43% total. Unlike Canada, there's no federal stress test, so approval tracks the actual rate rather than a higher qualifying rate.

Why these tools help

The mortgage calculator builds the full PITI payment and adds PMI where it applies; the affordability calculator applies the 28/36 rule with your state's tax and insurance; the LTV calculator shows the PMI threshold; and every state page carries its real property-tax rate and insurance figures.

Frequently asked questions

Which US states have the highest and lowest property tax?

Effective rates range from about 0.29% in the lowest states to over 2.47% in the highest, so it's worth checking your state before you buy.

Do I need PMI in the US?

Yes, if you put down less than 20%. Private mortgage insurance is added to your payment and cancels automatically once your loan-to-value reaches 78% of the original value.

Why is home insurance so expensive in some states?

Disaster risk — hurricanes, wildfire, hail — pushes premiums into the thousands in states like Florida, where several insurers have exited and the market is in crisis.

Browse by state

Each region page has a live calculator plus local tax, affordability and legal context.