California housing costs at a glance
| California | |
|---|---|
| Median home value (Zillow) | $810,000 |
| Average effective property tax | 0.69% |
| Typical rate for a new buyer (calculator default) | 1.15% |
| Average homeowners insurance ($300k dwelling) | $2,040 a year |
| 2026 conforming loan limit (one unit) | $832,750 in most counties; up to $1,249,125 in high-cost counties such as Los Angeles, Orange, San Francisco, San Mateo, Santa Clara and Alameda |
Example: median-priced home
California home for $810,000, 20% down, 6.5% 30-year fixed: principal and interest $4,096 + property tax $776 + insurance $170 = about $5,042 a month. Enter your own rate quote and the actual tax rate of the property for a precise figure.
California property tax: why new buyers pay more than the average
Under Proposition 13, the property tax rate is 1% of the assessed value, plus local voter-approved bonds and special assessments, usually bringing the total to about 1.1%–1.25% of the purchase price. The assessed value is reset to the price you pay and can then rise by at most 2% a year. That is why the statewide average effective rate is only about 0.69%: long-time owners pay tax on old, low assessments. As a new buyer, use the rate on the property's tax bill or about 1.15% to start. Some newer neighbourhoods also charge Mello-Roos special taxes.
Other California costs
- Transfer tax: counties charge $1.10 per $1,000 of the price, and some cities add their own (in Los Angeles, the “mansion tax” applies to sales above about $5 million). It is usually paid by the seller.
- Insurance: wildfire risk has pushed premiums up and some insurers have limited new policies; in high-risk areas you may need the California FAIR Plan.
- Jumbo loans: loans above the conforming limit need jumbo financing, which often requires a larger down payment.
Other states
See also the California paycheck calculator and mortgage costs in other states.
Frequently asked questions
What is the property tax rate in California for a new buyer?
About 1.1% to 1.25% of the purchase price: 1% under Proposition 13 plus local bonds and assessments. Check the tax bill of the specific property.
What is the monthly payment on a median-priced California home?
On an $810,000 home with 20% down and a 6.5% 30-year rate, principal and interest are about $4,096 a month; with property tax and insurance the total is about $5,040.
What is the conforming loan limit in Los Angeles for 2026?
$1,249,125 for a one-unit home, the high-cost ceiling. Most other California counties use the $832,750 baseline or a value in between.
Who pays the transfer tax in California?
Usually the seller, although it can be negotiated. The county rate is $1.10 per $1,000 of the sale price, and some cities add more.
For information only; not a loan offer. Property tax, insurance and closing costs depend on the specific property and lender.
Sources
- California State Board of Equalization – property tax
- FHFA – 2026 conforming loan limits
- NAHB analysis of Census ACS property tax data
- Zillow Home Value Index
- Insurify – home insurance by state
Rules checked: October 2026