How much house can you afford in Brooklyn? With a median price of $975,000 and a typical effective property tax rate of 0.7%, here are the real numbers a typical buyer faces in Kings County — plus a calculator for your exact case.
| Median home price | $975,000 |
| Down payment (20%) | $195,000 |
| Loan amount | $780,000 |
| Principal & interest / mo | $4,930 |
| Property tax / mo (0.7%) | $569 |
| Insurance / mo | $150 |
| Total monthly payment | $5,649 |
| Annual income needed (28% rule) | $242,095 |
Brooklyn has one of the lowest effective property tax rates in the state, but most purchases over $1M trigger the NYC mansion tax, and co-ops are common — board approval matters.
Different income, debts, down payment or rate — the calculator adjusts instantly and gives you a conservative-to-aggressive range for Brooklyn.
Calculate my Brooklyn mortgage →The typical effective rate in Kings County is about 0.7% of home value per year. On a median $975,000 home that is roughly $6,825 per year ($569 per month).
For the median $975,000 home with 20% down, the total payment is about $5,649/mo. Under the 28% rule you need a gross income of ~$242,095 per year. With a smaller down payment or existing debts, the figure rises.
Yes. Brooklyn is part of NYC: the mortgage recording tax is 1.8% of the loan (1.925% if the loan is $500,000+). On the median example that is ~$15,015.
Indicative figures based on public data and the stated assumptions; not financial advice. Confirm rates and taxes with your lender and attorney.
