Mortgage Calculator & Closing Costs: Los Angeles, CA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Los Angeles, California.
Median Home Price
$950K
Population
3.9M
Avg Monthly Rent
$2,850
Property Tax Rate
0.73% *
* Property tax shown is the California state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Los Angeles.
Los Angeles vs California Median
The median home price in Los Angeles is $950,000, which is 21% above the California state median of $785,000.
Mortgage Calculator — Los Angeles, CA
Pre-filled with Los Angeles median home price and California tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $950K home using California's 0.73% tax rate and $2,200/yr insurance.
5% Down
$6,992/mo
Down: $47,500
Loan: $903K
P&I: $5,704
Tax: $578
Insurance: $183
PMI: $526
10% Down
$6,664/mo
Down: $95,000
Loan: $855K
P&I: $5,404
Tax: $578
Insurance: $183
PMI: $499
20% Down (No PMI)
$5,565/mo
Down: $190,000
Loan: $760K
P&I: $4,804
Tax: $578
Insurance: $183
Income needed (28% rule): $239K/year with 20% down, $286K/year with 10% down.
Rent vs Buy in Los Angeles
Rent
$2,850/mo
vs
Buy (10% down)
$6,664/mo
Price-to-rent ratio: 27.8 — At a ratio above 20, renting may be more economical in Los Angeles for shorter stays. Buying costs $3,814 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Los Angeles is $950,000, 21% above the California state median of $785,000. With a population of 3,898,747, Los Angeles is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in California average 0.73% annually. This moderate property tax rate means a $950,000 home in Los Angeles would carry roughly $578/month in property taxes. Homeowners insurance in California runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Los Angeles is $2,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Los Angeles is a higher-cost market. At $950K median, buyers need significant savings or strong income. Down payment assistance through California's CalHFA Dream For All program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Los Angeles.