Calculator
Condo Expenses Calculator
Free condo expenses calculator: estimate monthly mortgage, HOA, taxes, insurance, PMI, utilities, and assessment buffer. No signup required.
By True Condo Cost editorial team · Editorial standards
Listings show mortgage payments, not the full bill. This condo expenses calculator adds association dues, insurance, property taxes, PMI, utilities, and an optional assessment buffer.
Use it to answer how much a condo costs per month with your own assumptions before you tour buildings or write an offer.
Your numbers
What this means
Enter your purchase price, loan terms, HOA dues, and other costs to see an estimated all-in monthly payment.
Assumptions and limitations
- PMI estimated at 0.75% of loan balance annually when down payment is under 20%.
- Property tax uses purchase price as assessed value unless you change it.
- Utilities and maintenance vary by unit size, age, and what HOA covers.
Frequently asked questions
- What is included in monthly condo cost?
- This condo expenses calculator adds mortgage principal and interest, property taxes, HOA dues, HO-6 insurance, utilities, interior maintenance, and an optional assessment savings buffer.
- How much does a condo cost per month?
- Enter your purchase price, loan terms, HOA dues, tax rate, and insurance quote to see an all-in monthly payment. Costs vary by building and location, so use your own figures rather than a generic average.
- Are HOA fees part of my mortgage payment?
- No. HOA dues are paid separately to the association, though lenders consider them in debt-to-income ratios.
- Should I budget for special assessments?
- Many buyers set aside extra monthly cash if reserve studies show underfunding or upcoming capital projects.
Run these next
Most buyers model HOA, insurance, and assessments in separate passes.
Line-item budget from the resale packet
Listings quote principal and interest. Your monthly bill also includes HOA dues from the current budget, county tax at your offer price, HO-6 from your agent, and PMI when down payment is under 20%.
Pull the HOA line from the budget in the resale certificate—not the MLS field. For tax, use your county assessor estimator after purchase; for insurance, use an HO-6 quote that matches the master policy walls-in vs bare-walls definition.
July 2026 financing overlay
Fannie Mae's July 1 master deductible cap can block conventional loans when declarations show more than $50,000 allocated per unit. That does not change this worksheet's math, but it can change which buildings you can finance—read master insurance before you lock numbers here.
- HOA: monthly assessment from the budget, not an old listing
- Property tax: your expected bill after purchase, not the seller’s
- Insurance: HO-6 quote; master policy cost is usually inside HOA
- Assessment buffer: optional line when reserves look thin
Document checklist for this worksheet
Substitute your estoppel HOA line, county assessor tax estimate at offer price, and agent HO-6 quote—the tool does not read those PDFs for you.
If master declarations show a wind deductible above Fannie Mae's July 2026 per-unit cap, fix financing eligibility before you treat the monthly total as affordable.
Last updated: June 2026
When to use this calculator
- You are comparing listings with different prices but similar-looking payments
- You want a line-by-line monthly budget including utilities and an assessment buffer
- HOA or insurance would push you over budget even when principal and interest look fine
Inputs you need
- Purchase price and down payment
- Interest rate and loan term
- Monthly HOA from the current budget
- Property tax rate or annual bill
- HO-6 premium and optional PMI
- Utilities, maintenance, and assessment buffer if you use them
How to interpret the result
- Focus on the all-in monthly total, not any single line item
- A lower list price with higher HOA can cost more than a higher price with lower dues
- Add an assessment buffer when reserves look thin or capital projects are scheduled
What this calculator does not know
- Live tax bills, insurance quotes, or HOA budgets from any database
- Lender approval, HOA questionnaire results, or project eligibility
- Future HOA increases unless you change the inputs yourself
- Move-in fees, transfer fees, or one-time association charges
- Exact PMI removal timing from your lender
Documents to verify before relying on the estimate
- HOA budget and most recent financial statements
- Reserve study and percent-funded summary
- Master insurance declarations and renewal summary
- County property tax estimate for the unit at your offer price
- HO-6 insurance quote matched to master policy coverage
Educational estimates only. Confirm figures with association documents, county tax offices, and licensed professionals before you make an offer.
Frequently asked questions
- What is a condo expenses calculator?
- A tool that adds mortgage, HOA, property tax, insurance, and optional owner costs into one monthly total. Use it when a listing payment hides association dues or tax reassessment.
- Should I use the listing's HOA number?
- Use the figure from the current HOA budget or resale certificate, not an old listing. Dues change when insurance renews or reserves are replenished.
- Where do I get a property tax rate?
- Ask your agent or closing attorney how assessed value is set after purchase in your county. Use a rate that reflects your expected bill, not necessarily the seller's historical payment.
- Does this include special assessments?
- Only if you enter an assessment reserve or use the special assessment calculator separately. Pending assessments disclosed in resale documents should be modeled on their own.
Sources to verify before buying
Use this checklist during due diligence. Calculators help you plan; these documents tell you what a specific building actually costs.
- HOA budget and audited financials (or reviewed statements if the association is small)
- Reserve study with percent-funded and component schedules — often prepared under CAI / APRA standards
- Master insurance declarations: carrier, deductible, wind/hail sublimits, and coinsurance
- Board minutes covering the last two insurance renewals and any assessment votes
- Written special assessment notices and payment plans
- County assessor or municipal property tax estimator for the parcel (not a neighbor’s bill)
- HO-6 quote aligned to master policy gaps — confirm with your state Department of Insurance licensed agent
- Lender condo questionnaire or Fannie Mae / Freddie Mac project review status for warrantability
Related calculators
Explore more tools for your condo search
- Condo AffordabilityFind out how much condo you can afford based on income, debts, and total housing payment.
- Condominium MortgageFree condominium mortgage calculator: combine principal, interest, and HOA into one monthly payment. Compare buildings on PI plus association dues.
- HOA FeeFree HOA fee calculator and condo fee calculator: calculate how association dues affect total monthly payment and stress-test 10% or 20% fee increases. No signup.
Related guides
Learn the basics before you run the numbers