Free Ohio Mortgage Home Loan Calculator
Ohio Mortgage Calculator
By SoFi Editors | Updated September 29, 2025
House hunting is a big job, and online tools can make it easier — even fun. The Ohio mortgage calculator helps you estimate your monthly mortgage payment and total interest over the life of a home loan. By inputting key figures like home price, down payment amount, interest rate, and more, you gain a clearer financial picture of whether a home is affordable for you. Ready to give it a try? Follow these tips.
Key Points
• The type of mortgage loan, credit score, and down payment all influence your mortgage.
• Down payment assistance programs can help reduce upfront costs and make homeownership more accessible.
• Property tax is levied by local governments and can vary widely based on location and home value.
• The monthly mortgage payment includes principal and interest, and may include property tax, insurance, and other costs.
• Ways to lower mortgage payments after purchasing include a recast, refinance, and reducing home insurance costs.
Ohio Mortgage Calculator
Calculator Definitions
• Home price: The home price is the purchase price you have agreed to with the home seller. This figure may differ from the listing price or your initial offer.
• Down payment: The down payment is the amount you pay upfront. Most buyers put down between 3% and 20%. A 20% down payment usually eliminates the need for private mortgage insurance (PMI). If you’re unsure about how much cash you need to get to a certain percentage, use a down payment calculator.
• Loan term: The loan term is the length of time you have to repay the mortgage, between 10 and 30 years. A longer term offers lower monthly payments but results in more interest paid over the life of the loan.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. Interest rates vary based on borrower qualifications, market trends, and the type of mortgage loan. A higher credit score can lead to a better interest rate, reducing your monthly payments.
• Annual property tax: Property tax is levied by local governments on land and buildings, and is expressed as a percentage of assessed value. When using this mortgage calculator, you can search by ZIP code for the “effective property tax rate” of the home or use the Ohio average of 1.31%.
• Monthly payment: The monthly mortgage payment includes the principal and interest each month and may include property tax, PMI, homeowners insurance, and homeowners association (HOA) fees.
• Total interest paid: The total interest paid is the amount of interest you will pay over the life of the loan. This figure can be substantial, especially for longer loan terms. The Ohio mortgage calculator helps you understand the impact of different interest rates and loan terms on the interest paid.
• Total loan cost: The total loan cost is the all-in amount you will repay for the loan, including principal and interest.
How to Use the Ohio Mortgage Calculator
Step 1: Enter Your Home Price
Enter the agreed-upon amount you will pay the seller for the property. This ensures accurate estimates of your monthly mortgage payments, total interest paid, and overall loan costs.
Step 2: Select a Down Payment Amount
Choose the down payment percentage to see how it affects your monthly home loan payments. A jumbo loan may have a minimum down payment requirement of 10% or more.
Step 3: Choose a Loan Term
Select a term of between 10 and 30 years based on your financial goals and budget constraints.
Step 4: Enter an Interest Rate
Input your desired interest rate to the second or third decimal point for accurate estimates.
Step 5: Add Your Property Tax
Enter the property tax rate as a percentage to estimate your total monthly payment.
Benefits of Using a Mortgage Payment Calculator
A mortgage payment calculator helps prospective homebuyers estimate affordability. Particularly if you are buying your first home, it can be helpful to use an Ohio mortgage calculator to see how different aspects of a purchase (home price, down payment amount, loan term, and interest rate) affect your monthly payments. This calculator also includes property taxes, which are often paid as part of the mortgage payment. Some lenders also include home insurance and homeowners association (HOA) fees in the mortgage payment. And if you put down less than 20%, you would pay for PMI in your payment as well.
Recommended: Do You Qualify as a First-Time Homebuyer?
Deciding How Much House You Can Afford
Ohio’s median home sale price in mid-2025 was $272,000, well below the national average. Lenders advise a mortgage payment of no more than 28% of gross monthly income. To afford a $272,000 home, you would need an income of $67,000. This assumes a 20% down payment ($54,400) on a 30-year, 7.00% interest mortgage. The monthly payment would be $1,445 with property taxes and home insurance factored in.
You can use an Ohio mortgage calculator to play with different numbers for home price, down payment amount, loan term, and interest rate to arrive at the monthly payment amount that suits your budget. Or you can work backward from your annual income, factoring in your debts, with a home affordability calculator.
Another way to decide how much house you can afford in Ohio is to submit your financial details to a lender and go through the mortgage preapproval process. The lender will examine your stats and tell you what size loan you could potentially qualify for.
Components of a Mortgage Payment
The main components of a mortgage payment are the principal and interest. The principal is the borrowed amount, and the interest is the cost to borrow that money. The Ohio mortgage calculator also factors in property tax, which is determined by the local government and based on your home’s assessed value. Your monthly payment may also include home insurance, PMI, and HOA fees, as noted above.
Homes purchased with a loan backed by the Federal Housing Administration (FHA) will have both upfront and annual mortgage insurance premium costs, so if you’re exploring an FHA loan, use an FHA mortgage calculator. And if you are thinking about a U.S. Department of Veterans Affairs (VA) mortgage, there’s a custom VA mortgage calculator for you.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Cost of Living in Ohio
Ohio, fortunately, has a relatively low cost of living. On a scale where the average cost of living in the U.S. equals 100, Ohio measures 94.3. Some of its cities, including Youngstown, Van Wert, and Springfield, landed on a list of the best affordable places in the U.S. When you’re looking for a home in Ohio it’s nice to know that when considering the many factors that contribute to cost of living, including utilities, health care, transportation, and more, Ohio remains a relative bargain. Take a look at how some of its major metropolitan areas compare.
| Ohio Cities’ Cost-of-Living Stats | |
|---|---|
| Cincinnati | 96.1 |
| Cleveland | 91.4 |
| Columbus | 95.4 |
| Dayton | 96.5 |
| Findlay | 92.9 |
| Lima | 92.8 |
| Toledo | 95.6 |
| Youngstown-Warren | 92.5 |
Run the numbers on your home loan.
-
Mortgage calculator
Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.
-
Down payment calculator
Enter a few details about your home loan and we’ll provide your monthly mortgage payment.
-
Home affordability calculator
Provide us with a few details and see how much you can afford to spend on a home purchase.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Tips on Reducing Your Mortgage Payment
Homebuyers in Ohio are looking to do whatever they can to lower their mortgage payment. Here are some things you can do after purchasing a home to curb costs:
• Request that your lender drop PMI as soon as you reach 20% home equity.
• Recast your mortgage by making a lump sum payment toward the principal and requesting the lender recompute your payments.
• Undertake a mortgage refinance if you think you could get a lower interest rate now than when you purchased. Remember to factor in closing costs when comparing costs.
• Appeal a high property tax assessment. Use caution if you have made any home improvements as sometimes inviting an examination of your home’s value results in increased taxes.
• If you are facing financial hardship, consider requesting a loan modification or extending the loan term.
• Shop for cheaper homeowners insurance by opting for an increased deductible or bundling policies.
Ohio First-Time Homebuyer Assistance Programs
If you’re buying your first home, there are down payment assistance programs available to help you cover the initial costs. To qualify as a first-time homebuyer, you must not have owned a primary residence within the past three years.
Ohio first-time homebuyer assistance programs offer financial aid for down payments, closing costs, or both. The state also offers a mortgage tax credit, which is an added benefit. These programs can make homeownership more accessible.
Recommended: Average Monthly Expenses for One Person
The Takeaway
Understanding the financial aspects of buying a home in Ohio will help you make informed decisions about the home price, down payment amount, and loan term you will choose. The Ohio mortgage calculator is a powerful tool that can help you estimate your monthly payment, total interest, and overall loan costs. Whether you’re a first-time homebuyer or a seasoned homeowner, use a calculator to obtain valuable insights to guide your home purchase journey.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
FAQ
How does my credit score affect my mortgage loan interest rate?
Your credit score has a major impact on your mortgage interest rate. A higher score can lead a lender to offer its most attractive interest rate, reducing the total cost of your mortgage. A lower score may result in a higher interest rate and stricter lending conditions — if you are approved at all.
How much should I put down on a mortgage?
A first-time homebuyer can sometimes put down as little as 3% toward the purchase price of a home and for many buyers, this is a good idea. Bottom line? You should put as much money as you comfortably can toward a down payment on a home, while ensuring that you aren’t bankrupting your emergency fund or stopping payments on other debt. If you put down less than 20%, you will likely have to add private mortgage insurance payments to your monthly bill. Use a mortgage calculator to run different down payment scenarios and see how they impact costs.
Should I choose a 30-year or 15-year mortgage term?
A 30-year term offers lower monthly payments. A 15-year term could save you thousands of dollars in interest over the life of the loan, but will require a higher monthly payment. If you can make a 15-year or 20-year term work with your budget, go for it. But particularly if this is your first home purchase, don’t feel bad about locking in 30 years — many people choose this option.
How much is the payment on a $600,000, 30-year mortgage?
The cost of a $600,000 mortgage with a 30-year term will depend on your interest rate. At an interest rate of 6.00%, for example, you would pay $3,597.30 per month. At 8.00%, the payment would rise to $4,402.59. This estimate includes principal and interest but not property taxes, insurance, or other fees.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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Cost of Living in Texas
Cost of Living in Texas
(Last Updated – 03/2025)
If you’re looking to move to a state with gainful employment, look to Texas. Texas jobs are predicted to increase 1.6% in 2025, according to the Federal Reserve Bank of Dallas.
From Dallas to Austin, there are plenty of great cities to grow a career in. Alongside employment opportunities, the second-largest U.S. state offers a worldwide food scene that goes way beyond barbecue.
To learn more about what it will cost you to live in the Lone Star State, keep reading for a breakdown of the Texas cost of living.
What’s the Average Cost of Living in Texas?
Average Cost of Living in Texas: $52,299 per year
When it comes to expenses in this sprawling state, the 2024 data from MERIC found that Texans enjoy the 16th lowest cost of living in the country.
Other Southwestern states like Arizona (37th) and Utah (36th) have a much higher cost of living, while New Mexico is more similar to Texas as the state with the 19th lowest cost of living.
So how much does it cost to live in Texas? According to the latest data from the Bureau of Economic Analysis, the average total personal consumption cost in Texas is $52,299 per year. Here’s how that breaks down.
|
Category |
Average Annual Per-Capita Cost in Texas |
|
Housing and Utilities |
$9,428 |
|
Health Care |
$7,411 |
|
Food and Beverages (nonrestaurant) |
$4,123 |
|
Gas and Energy Goods |
$1,500 |
|
All Other Personal Expenditures |
$29,836 |
That’s $4,358 a month, per person, on average.
Housing Costs in Texas
Average Housing Costs in Texas: $1,252 to $2,219 per month
With more than 12 million housing units, according to U.S. census data, Texas offers plenty of places to live. The big question is, how much will it cost you to find your home sweet home? Texas’ typical home value was $299,982 in December 2024, according to Zillow.
Here’s what it looks like to rent or own on a monthly basis in Texas, per the latest data from the U.S. Census Bureau:
• Median monthly mortgage cost: $2,012
• Median studio rent: $1,252
• Median one-bedroom rent: $1,261
• Median two-bedroom rent: $1,396
• Median three-bedroom rent: $1,644
• Median four-bedroom rent: $2,129
• Median five-bedroom (or more) rent: $2,219
• Median gross rent: $1,413
Texas is a huge state. Let’s take a look at housing prices for just 20 cities, courtesy of Zillow data sourced in March 2025.
|
Texas City |
Average Home Value |
|
Beaumont |
$148,990 |
|
Waco |
$188,074 |
|
Brownsville |
$188,988 |
|
Abilene |
$190,065 |
|
Amarillo |
$196,062 |
|
Lubbock |
$199,764 |
|
Laredo |
$211,258 |
|
Corpus Christi |
$215,707 |
|
Killeen |
$217,566 |
|
McAllen |
$221,115 |
|
Longview |
$223,296 |
|
El Paso |
$224,689 |
|
Odessa |
$236,898 |
|
Tyler |
$246,618 |
|
San Antonio (San Antonio Housing Market Trends) |
$250,675 |
|
Houston (Houston Housing Market Trends) |
$265,434 |
|
Dallas (Dallas Housing Market Trends) |
$306,959 |
|
Midland |
$315,356 |
|
College Station |
$342,247 |
|
Austin (Austin Housing Market Trends) |
$517,589 |
Utility Costs in Texas
Average Utility Costs in Texas: $408 per month
Even though they aren’t the most fun bills to pay, we all need our utilities.
|
Utility |
Average Texas Bill |
|
Electricity |
$166 |
|
Natural Gas |
$61 |
|
Cable & Internet |
$118 |
|
Water |
$63 |
Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price; Inspirecleanenergy.com; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report; and Rentcafe.com, What Is the Average Water Bill?
Groceries & Food
Average Grocery & Food Costs in Texas: $343.58 per person, per month
How much you spend on food depends on many things, including the state you live in. The Bureau of Economic Analysis estimates that the average Texan spends $4,123 a year on nonrestaurant sustenance, or about $344 per month.
The specific area of a state that you live in can also affect grocery spending. The Council for Community and Economic Research, which ranks food costs in major American cities, compared grocery spending among some Texas cities for 2024. Below, the cities are ranked from lowest costs to highest costs.
|
Texas City |
Grocery Items Index |
|
Harlingen |
92.7 |
|
McAllen |
93.3 |
|
Waco |
93.3 |
|
Temple |
93.6 |
|
Amarillo |
93.7 |
|
Corpus Christi |
94.3 |
|
Nacogdoches |
94.5 |
|
San Antonio |
94.5 |
|
Odessa |
95.7 |
|
Abilene |
95.8 |
|
Tyler |
96.0 |
|
Midland |
96.1 |
|
Lubbock |
96.4 |
|
Longview |
96.5 |
|
Austin |
96.6 |
|
El Paso |
96.7 |
|
Wichita Falls |
97.3 |
|
Conroe |
97.5 |
|
Plano |
97.7 |
|
Dallas |
98.8 |
|
Fort Worth |
99.3 |
|
Houston |
99.3 |
Transportation
Average Transportation Costs in Texas: $10,165 to $18,915 per year
You’ll need to hit the open road from time to time, and your family makeup can affect how much you need to spend to get everyone where they need to go. MIT’s Living Wage Calculator estimates what you can expect to spend on transportation, based on the most recent data available.
|
Family Makeup |
Average Annual Transportation Cost |
|
One adult, no children |
$10,165 |
|
Two working adults, no children |
$11,764 |
|
Two working adults, three children |
$18,915 |
Health Care
Average Health Care Costs in Texas: $7,411 per person, per year
Each Texan spends about $7,411 a year on health care, according to the most recent Bureau of Economic Analysis Personal Consumption Expenditures by State report.
Of course, factors like specific medical needs and coverage affect how much any one person spends on health care.
Child Care
Average Child Care Costs in Texas: $719 to $1,258 or more per child, per month
Child care is a large but necessary expense for most parents, though there is some wiggle room depending on what kind of care you’re seeking.
State resources can help make financing child care easier. For example, the Texas Workforce Commission has a program that subsidizes child care for low-income families so parents can work or pursue an education.
These are the average child care costs you can expect to encounter in Texas, according to the latest data from CostofChildCare.org.
|
Type of Child Care |
Average Cost Per Month, Per Child |
|
Infant Classroom |
$1,254 |
|
Toddler Classroom |
$816 |
|
Preschooler Classroom |
$719 |
|
Home-Based Family Child Care |
$1,258 |
Taxes
State Tax Rate: None
Texas doesn’t charge any state income tax, as noted by the Tax Foundation’s 2025 overview of state individual income tax rates and brackets. Florida, Tennessee, South Dakota, Wyoming, Nevada, New Hampshire, Washington, and Alaska also don’t charge state income tax.
If you’re moving from a state with high income taxes like New Jersey (top marginal rate, 10.75%) or California (top rate, 13.3%), then Texas might look like a pretty smart move.
Miscellaneous Costs
You’ve paid for the basics, and now it’s time to have a little fun. The Bureau of Economic Analysis estimates that every Texan spends $29,836 a year on personal expenditures.
These are a few examples of what it can cost to check out Texas pleasures (costs are as of March 2025).
• Tickets to the Space Center Houston: $0 to $44.95, depending on age of visitor
• Family membership to the Houston Zoo: $149 to $349, depending on pass type
• Dinner at Fort Worth fan favorite Goldee’s Bar-BQ: $16 for a half-pound brisket
And remember the Alamo, in San Antonio. Church entry is free; you can book a tour of the complex for $10 and up.
Recommended: What Are the Average Monthly Expenses for a Single Person?
How Much Money Do You Need to Live Comfortably in Texas?
Only you can decide what it truly means to live comfortably by your standards, but U.S. News & World Report’s Affordability Rankings can give you a pretty good idea of how affordable a state is to live in.
Texas lands 28th on that list of 50, so it’s neither one of the hardest nor easiest places in which to live comfortably. MERIC identified Texas as the 16th most affordable state to live in. Conclusion: Depending on your lifestyle choices, Texas can be easy to live in comfortably.
You’ll want to create a budget to make sure moving to Texas works out in your bank account’s favor.
What City Has the Lowest Cost of Living in Texas?
Digging through the latest Council for Community and Economic Research’s Cost of Living Index yielded the three most affordable major cities in Texas.
Harlingen
Per the latest census count, Harlingen has about 72,000 residents, yet it houses a convention center and plenty of dining and shopping options. The research council found Harlingen to be Texas’ most affordable major city, with a cost-of-living index of 82.1. Redfin listed a typical home value in this city near the Mexican border at about $193,000 at the end of 2024.
Amarillo
If you’re looking for cowboy vibes, Amarillo (cost-of-living index of 83.3) might just be the perfect place for you to call home. This historic city in the Texas panhandle’s high plains is full of both working Western ranches and modern businesses. As noted above, Zillow listed a typical home price in Amarillo of about $203,686 at the end of 2024.
McAllen
With a cost-of-living index of 85.1, McAllen is the third-most-affordable city in Texas. People travel from around the world to check out the roughly 360 species of birds and more than 300 butterfly species that can be seen in and around this border city. There are also plenty of art and nightlife opportunities. Zillow gave a typical home price of $187,270 in December 2024, as mentioned above.
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The Texas cost of living is lower than that of many other states. Good Tex-Mex eats, no state income tax, and moderate home prices beckon newcomers.
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FAQ
How much money do you need to live comfortably in Texas?
That likely depends on your lifestyle, family, and where you live. The Bureau of Economic Analysis estimates the expense of living in Texas to be just under $52,300 per person. But if you’re living in a bigger city, want to enjoy a few luxuries, and even save a bit, a 50/30/20 budget would call for about $65,000 or more. A budgeting app can help you stay on track.
Which city in Texas has the lowest cost of living?
Harlingen is a low-cost standout in the Lone Star State, with a cost of living 7% lower than the national average. But Amarillo, Abilene, and Nacogdoches are also budget-friendly. From housing to groceries and utilities, these cities can help you stretch your dollar.
What is the average house cost in Texas?
The average home value is $299,787, according to Zillow’s figures for March 2025. But prices vary widely. The table above showing average home values in 20 cities shows how big a difference location can make.
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Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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Net Pay Calculator
Net Pay Calculator
By SoFi Editors | October 6, 2025
Curious about how your total pay translates into net pay? You’re in the right place. The difference between the amount you earn and what lands in your bank account each pay period can be surprisingly significant. Using an online calculator to figure out your net pay can help you understand your take-home pay and budget more effectively.
Key Points
• A net pay calculator can accurately estimate take-home pay, though not necessarily the exact amount.
• Gross income is your total annual salary, while net pay reflects money after taxes and other deductions are taken.
• Filing status impacts tax withholding and net pay.
• A net pay calculator can consider federal, state, and local taxes.
• Understanding net pay aids budgeting and financial planning.
Calculator Definitions
Before starting to use a net pay calculator, familiarize yourself with some of the key terms used to get the best results.
•Gross income: This is your total annual salary, such as $110,000.
•FICA taxes: These are the mandatory Social Security and Medicare deductions taken, equal to 7.65% of your salary.
•Federal effective tax rate: You may also hear the effective tax rate referred to as the blended tax rate that you pay on your income in the U.S.’s progressive tax system. It’s worth noting that heads of household may have a different withholding than what the calculator shows, as their tax rates can vary.
•State and local effective tax rate: The calculator’s effective state and local tax rate is the actual percentage of your income that’s paid in state and local taxes. Using this versus the marginal rates can reveal a more accurate picture of your tax burden. The effective rate takes into account the different tax brackets that apply to your income. You can look up your state income tax information on the Tax Foundation’s site.
•Annual pretax deductions: These paycheck deductions are made before taxes are withheld, reducing your taxable income and saving you about 30 cents on the dollar. This category can include health insurance, FSA or HSA, 401(k), and garnishments.
•Annual after-tax deductions: These deductions are subtracted from your pay after income, Social Security, and Medicare taxes have been taken out. Examples of after-tax deductions include ROTH accounts, charitable deductions, and disability and life insurance premiums. They are a convenient, automatic way to pay expenses, but they don’t save you money on taxes.
How to Use the Net Pay Calculator
Using the net pay calculator is quite simple. First, enter the following information:
Input Your Gross Income
Here, you’ll enter your annual total income, without any deductions.
Type in Your Federal Effective Tax Rate
As noted briefly above, the U.S. has a progressive tax system, meaning different portions of the money you earn are taxes at varying rates. This is expressed through a system of tax brackets, which change annually and can be found on the Internal Revenue Service (IRS) website. You’ll find that the effective tax rate, or percentage of your income that you pay in federal taxes, tends to be lower than the marginal tax rate, or the highest amount of tax you pay on a portion of your income.
Input Your State and Local Effective Tax Rate
As with federal taxes, you will want to research your state and local taxes and add the correct percentage to the net pay calculator. A simple way to find your state effective tax rate is to use the information available on the Tax Foundation’s website, as noted above. It provides a detailed downloadable chart that allows you to check your effective state tax rate.
Enter Annual Pretax Deductions
Some deductions are taken from your gross salary and thereby reduce your taxable income. These include such benefits as Traditional 401(k) and SEP IRA contributions; health, vision, and dental insurance premiums; commuter benefits; and FSA and HSA account contributions.
Remember to deduct the annual figure vs. how much is taken out per pay period.
Account for Annual After-Tax Deductions
The calculator will deduct 7.65% for FICA taxes (Social Security and Medicare). These are mandatory deductions. As with federal and state and local taxes, FICA is calculated on the amount of income you have after the pretax deductions are subtracted.
Once you enter this information, the calculator will tell you your annual net pay. You can divide that figure, depending on how often you are paid, to see how much you receive per pay period as take-home pay.
Worth noting: While very accurate and useful for scoping out various scenarios, a net pay calculator may not give the precise amount of your take-home pay. There may be deductions that are unique to your situation and not fully accounted for. Check your paystub if you need the exact figure.
Recommended: Navigating Needs vs Wants
Benefits of Using a Net Pay Calculator
Using a net take-home pay calculator can offer several benefits.
• Fast calculations: A net pay calculator does the math for you, saving you the trouble of doing the work by hand or punching numbers into your phone’s calculator app.
• Understanding your take-home pay: By knowing how much money you actually receive versus your total pay, you can make a budget effectively and stay in control of your finances.
• Optimizing your financial planning: When you know your net pay, you can see how, say, putting more money into a 529 account for your child could impact your financial status. You might also project how your take-home pay would increase if you got a raise or took a new, higher-paying job.
• Making wiser employee benefit choices: Once you understand your net pay, you might want to adjust your benefits. For example, perhaps you realize you have enough financial breathing room to put more money into your retirement savings. Or if money is tight, you might want to opt for a less costly health insurance plan next year.
How to Use Net Pay Calculator Data to Your Advantage
Once you use a net pay calculator, you can leverage your learning in a variety of ways. You can play out different budgeting techniques and financial planning scenarios to see what works best for your finances. For instance, you might take a fresh look at your spending categories and adjust them based on your current habits. Or maybe you realize that putting more money into a pretax retirement plan could help lower your taxable income.
Other possibilities: You can negotiate for a raise more knowledgeably after evaluating just how much a new salary would change your finances. And you can make more informed decisions about your tax withholding and benefit choices.
What Is an Effective Federal Tax Rate?
Your effective federal tax rate, or blended rate, reveals the actual percentage of your total income that you pay toward federal taxes. As mentioned above, the U.S. has a progressive tax system with tax brackets for different levels of income. The tax rate applied to your last dollar of taxable income is called your marginal rate.
Here are the brackets for individuals in the 2025 tax year:
• 10% for incomes from $0 to $11,925 ($0 to $23,850 for married couples filing jointly)
• 12% for incomes of $11,926 to $48,475 ($23,851 to $96,950 for married couples filing jointly)
• 22% for incomes of $48,476 to $103,350 ($96,951 to $206,700 for married couples filing jointly)
• 24% for incomes of $103,351 to $197,300 ($206,701 to $394,600 for married couples filing jointly).
• 32% for incomes of $197,301 to $250,525 ($394,601 to $501,050 for married couples filing jointly).
• 35% for incomes of $250,526 and higher ($501,051 and higher for married couples filing jointly).
Your effective tax rate is the weighted average of the different federal tax brackets. For anyone making more than $11,925 a year, their effective tax rate will be lower than their marginal tax rate. For example, for a single filer making $100,000, their effective tax rate is about 16.9%.
Effective Federal Tax Rates by Income
Here’s an example of how effective federal tax rates work. Say you earned $100,000 in the 2025 tax year.
• Because the 10% (or lowest) tax bracket includes earnings up to $11,925, the first $11,925 of your income is taxed at this rate, equaling $1,192.50.
• The next tax bracket covers earnings from $11,926 to $48,475, so that segment of your income is taxed at 12%, or $4,386.
• The next bracket runs from $48,476 to $103,350, and it is taxed at a rate of 22%. This segment of your income is taxed $11,335.28 at the federal level.
Your total federal income tax for the year would be $16,913,78, or an effective tax rate of 16.9%. While your marginal tax rate is 22%, your effective rate is, as you see, significantly lower than that.
Examples of Calculation Scenarios
When using a net take-home pay calculator, you can determine how much of your gross annual pay is actually deposited into your bank account every pay period. Here’s an example of how it might work:
Scenario 1: An individual is single and earns $100,000 per year. Their effective federal tax rate is 16.9%, and their effective state and local taxes are 5%. FICA tax is a standard 7.65%. Their pretax deductions are $3,000, and their after-tax deductions are $5,000.
Net pay: $75,845
Scenario 2: An individual is married, filing jointly, with an income of $100,000. Their effective federal tax rate is 11.45%, and their effective state and local income taxes are 3%. FICA tax comes to 7.65%. Their pretax deductions are $1,000, and their after-tax deductions are $2,000.
Net pay: $89,018
As you see, even with the same annual income, net pay can look very different, as revealed when using a net pay calculator. Knowing where you stand in terms of your take-home pay can be a valuable tool when tracking your money and avoiding common budgeting mistakes.
Net Pay Tips
Here are a few ways you might optimize your net pay.
• To positively impact your net pay, adjust your tax withholdings on your W-4 form.
• Consider maximizing pretax contributions to retirement accounts like a 401(k) and Flexible Spending Accounts (FSA). This lowers your taxable income and can save you money.
• When possible, sign up for other pretax benefits such as health insurance and commuter benefits.
• Think carefully about how working overtime or a part-time gig could raise your income and push you into a higher tax bracket, increasing your effective tax rate.
Recommended: Using an Online Budget Planner
The Takeaway
Using a net pay calculator can help you quickly and easily understand how much of your annual salary you actually take home. This can inform your salary negotiations, budgeting, benefit choices, and long-term financial planning as you work to manage your money better.
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FAQ
What is the difference between my gross pay and my net pay?
Your gross pay is the total amount you earn, while your net pay is what you take home after taxes, health insurance, retirement contributions, and other key deductions are subtracted.
How does the calculator determine my take-home pay after taxes and deductions?
The net pay calculator can help by doing the math for how much money is subtracted for taxes and other deductions. It shows you your annual take-home pay, which you can then divide by the number of pay periods per year. This reveals how much money you have to work with when spending, saving, and paying down debt.
How do different tax filing statuses and exemptions affect my net pay?
Filing status and exemption information, which you typically provide on your W-4 form, determines how much federal income tax is withheld from each paycheck. This in turn impacts your net pay. If you select a status with lower withholding, your take-home pay will increase, while higher withholding will lower your pay.
Does the calculator account for both federal and state income taxes?
Yes, the net pay calculator has places to account for both federal and state (as well as local) taxes when determining your net pay.
Can I use the calculator to see the impact of overtime pay or a bonus on my paycheck?
Yes, you can use the net pay calculator to play out different scenarios, such as how much overtime or a bonus would alter your take-home pay. (Note that employers are typically obligated to deduct taxes from bonuses, which are considered a form of supplemental pay.)
Is the estimated net pay from the calculator the exact amount I will receive on my paycheck?
Typically, a net pay calculator can provide a very good estimate of your take-home pay, but it is not 100% accurate. That is because a calculator may not account for every single deduction or garnishment of your pay. You can check your paystub for precise, detailed insights.
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