But it's part of the monthly cost of buying a home.

If you can afford a $1000 a month payment you really can't afford a $1000 a month mortage payment because your monthly payment is more Like 1600 a month figuring taxes and insurance(in my case....well, mine is more like 1200 but whatever)

I bring this up because it effects the total cost of the home you can actually afford

6700 is cheap in NJ, I have friends that pay 2x and 3x that....their tax bill alone is about a 1000-1500 a month

It just sets the entry bar lower

I get what you are trying to illustrate though- that the interest rate effects the overall cost far more than people realize....well, people who haven't lived under anything but the unsustainable and unrealistic interest rates of the last 20 or so years

Don't forget to add back in to the monthly payment property taxes and insurance costs lol

Its actually less than that....WAY less depending on the State once you figure in property tax....My property taxes are about 6700 a year in NJ (which is pretty low believe it or not)

E- the more I've thought about it the more I think it doesn't matter because it's not the point of this chart, this is a really effective way to illustrate how much small but relatively major shifts in the interest rates matter....2%-5% doesn't seem like a lot of change but it has a massive effect on the prices of things long term