Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Philadelphia mortgage calculator
A median-priced Philadelphia, PA home at 6.75% over 30 years, with Pennsylvania property tax of 1.49% and $1,300 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,895 a month, all in
Principal and interest are $1,392; escrow and PMI add the rest. Over the full term the loan costs $286,548 in interest. Discounted at 5%, buying here has a net present value of $163,432 ($373,635 in today’s dollars).
Within Pennsylvania, Philadelphia is the most expensive of the 5 Pennsylvania markets covered here. Prices here run 1.64x those in Erie, the cheapest market listed, so a statewide average badly understates what a purchase costs on this side of the state.
Rents here are high relative to prices — a rent index of 1.10 against a price index of 0.90. That combination favours buying sooner, because the payment you avoid is larger relative to the price you pay.
At $238,500 to buy and $1,650 a month to rent, the price-to-rent ratio is 12.0 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Monthly cost in Philadelphia vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $238,500 |
|---|---|
| Down payment (10%) | $23,850 |
| Loan amount | $214,650 |
| Principal & interest | $1,392/mo |
| Property tax (1.49%) | $296/mo |
| Homeowners insurance | $108/mo |
| PMI while above 80% LTV | $98/mo |
| Total monthly payment | $1,895/mo |
| Comparable rent | $1,650/mo |
What a rate move does to the Philadelphia payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,219/mo |
| 6% | $1,287/mo |
| 6.5% | $1,357/mo |
| 7% | $1,428/mo |
| 7.5% | $1,501/mo |
| 8% | $1,575/mo |
Rent or buy in Philadelphia?
Against $1,650 a month in rent, over 7 years buying leaves you about $13,163 better off — $11,074 once 2.5% inflation is stripped out. See the Pennsylvania rent-vs-buy page.
Where these numbers come from
Pennsylvania medians come from editorial and are refreshed weekly. The Philadelphia figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.