Cost of Ownership · California
The true cost of owning a home in California
For a median $734,700 home in California, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.
Lender-approved payment
$5,041/mo
PITI + PMI
True monthly cost
$5,653/mo
everything, incl. upkeep
The gap
+$612/mo
what approval leaves out
Effective property-tax rate
0.70%
Avg. homeowners premium
$1,492/yr
NFIP flood claims on record
53,545
Closing costs in California
Median closing costs and lender origination charges on real home-purchase loans in California, from public CFPB HMDA data. Cells with fewer than 25 loans aren't shown.
Median total closing costs
$9,292
Typically $6,260–$15,122
Median origination charges
$4,598
Typically $1,690–$9,009
| Loan size | p25 | Median | p75 | Loans |
|---|---|---|---|---|
| All | $6,260 | $9,292 | $15,122 | 212,007 |
| All | $6,290 | $9,890 | $15,788 | 206,227 |
| < $250k | $4,535 | $6,025 | $8,180 | 11,791 |
| < $250k | $4,670 | $6,443 | $8,642 | 12,898 |
| $250k–$500k | $5,817 | $9,326 | $13,643 | 71,398 |
| $250k–$500k | $6,173 | $10,238 | $14,436 | 74,166 |
| $500k–$750k | $6,583 | $11,600 | $17,930 | 67,845 |
| $500k–$750k | $6,475 | $10,622 | $17,188 | 65,227 |
| > $750k | $7,060 | $9,461 | $16,797 | 63,591 |
| > $750k | $6,613 | $9,252 | $17,951 | 51,318 |
Compare your own Loan Estimate with the Loan Estimate Decoder, or see every state in the Fee & Rate Index.
Common questions about buying a home in California
- What are the median closing costs in California?
- Median total closing costs — lender and third-party charges — on a home-purchase loan in California are about $9,292, from public CFPB HMDA data. Cells with fewer than 25 loans are suppressed.
- What is the effective property-tax rate in California?
- The effective property-tax rate in California is about 0.70%, from the Census American Community Survey (median real estate taxes divided by median home value).
- What does a median home cost to own each month in California?
- A median $734,700 home in California costs about $5,653 a month to own — principal, interest, property tax, insurance, PMI, and a maintenance reserve — versus a lender-approved payment of about $5,041. Every figure is from public data.
These figures use California's median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how California ranks on property tax and insurance, or browse every state.