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Methodology: For this piece, GOBankingRates found the average monthly mortgage payment in every state by using the following assumptions and data: assuming a 20% down payment, 30-year fixed loan ...
Alabama. Average home value (January 2024): $214,175. Amount needed for 10% down payment: $21,418. Average monthly mortgage with 10% down payment: $1,275
Difference between state and national average monthly mortgage payment: -$617 lower. ... $1,711. Difference between state and national average monthly mortgage payment: -$606 lower. Michigan.
The Detroit metropolitan area has the lowest average mortgage payment among the top 15 metro areas, at $1,577, according to the 2022 Census housing data. Monthly mortgage payments by loan size.
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$ 1 Hawaii: $839,013 2 California: $765,197 — District of Columbia: $610,548 3 Massachusetts: $596,410 4 Washington: $575,894 5 Colorado: $539,151 6 Utah: $509,433 7 New Jersey: $503,432 8 Oregon: $487,244 9
Average Home Mortgage Payment in the US As of August 2024, the average interest rate for a 30-year fixed-rate mortgage in the U.S. is 6.46%. The average rate for a 15-year mortgage is 5.62%.
No matter the state of the economy, housing is always one of the biggest monthly expenditures that Americans face. However, the housing market at this time is especially inflated, due to factors...
West Virginia. Average home value: $154,137.92 20% down payment cost: $30,827.58 Methodology: To find out how much you should save for a house in every state, GOBankingRates analyzed the average ...