Quick answer
The median home in Atlanta costs $385K. With 20% down ($77K) at 7% for 30 years, the monthly payment is $2,049/month. Total interest paid over 30 years: $429,687.
Calculator · GA · 2026
Mortgage Calculator for Atlanta, GA (2026)
Pre-filled with Atlanta's median home price of $385K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Atlanta Mortgage Payment Scenarios
Median home price: $385K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $19,250 | $365,750 | $2,433 | $3,287 | $510,254 |
| 10% | $38,500 | $346,500 | $2,305 | $3,114 | $483,398 |
| 20% | $77,000 | $308,000 | $2,049 | $2,768 | $429,687 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Atlanta
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $385K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$385K home · 20% down ($308K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Atlanta?
The median home price in Atlanta is $385K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,049. Adding estimated property taxes and insurance brings total monthly costs to approximately $2,434.
Is it cheaper to rent or buy in Atlanta?
A 2-bedroom rental in Atlanta averages $2,100/month. Buying the median $385K home with 20% down costs approximately $2,434/month (mortgage + taxes + insurance) — $334 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Atlanta?
Using the 28% housing rule, you need at least $88K–104K in annual gross income to comfortably afford the median $385K home in Atlanta with 20% down. You also need $77K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Atlanta?
GA has a state income tax rate of 5.49%. Property taxes vary by county but on a $385K home, expect $321–$642/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.