Average Mortgage Payment by State in 2026

The average monthly mortgage payment varies from $893 in West Virginia to $4,283 in Hawaii — a $3,390 difference driven almost entirely by median home prices. Using a standardized 30-year fixed rate of 6.5% with 10% down, we calculated the principal and interest payment for each state based on its median home price. The results show that buying the median home in 10 states requires a household income above $120,000 just to meet the 28% housing affordability rule, while 15 states remain accessible to households earning $60,000 or less.

Methodology

All calculations use the standard mortgage payment formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount (median home price minus 10% down payment), r is the monthly interest rate (6.5% annual / 12 = 0.5417%), and n is 360 monthly payments. Property tax and insurance estimates use state averages but are shown separately from the P&I figure. Median home prices are based on Q4 2025 data from the National Association of Realtors and Zillow Home Value Index.

All 50 States: Monthly P&I Payment on Median Home

State	Median Price	Loan (90%)	Monthly P&I	Total Interest	Income Needed (28% rule)
Alabama	$218,000	$196,200	$1,240	$250,437	$53,143
Alaska	$365,000	$328,500	$2,077	$419,173	$89,000
Arizona	$372,000	$334,800	$2,117	$427,228	$90,714
Arkansas	$179,000	$161,100	$1,018	$205,630	$43,643
California	$606,000	$545,400	$3,448	$696,101	$147,714
Colorado	$498,000	$448,200	$2,833	$571,795	$121,357
Connecticut	$380,000	$342,000	$2,162	$436,336	$92,571
Delaware	$345,000	$310,500	$1,963	$396,174	$84,071
Florida	$373,000	$335,700	$2,123	$428,375	$90,857
Georgia	$325,000	$292,500	$1,849	$373,044	$79,214
Hawaii	$677,000	$609,300	$3,852	$777,591	$165,000
Idaho	$412,000	$370,800	$2,344	$473,093	$100,357
Illinois	$277,000	$249,300	$1,576	$318,064	$67,500
Indiana	$214,000	$192,600	$1,218	$245,847	$52,143
Iowa	$198,000	$178,200	$1,127	$227,482	$48,286
Kansas	$210,000	$189,000	$1,195	$241,255	$51,214
Kentucky	$195,000	$175,500	$1,109	$224,038	$47,571
Louisiana	$188,000	$169,200	$1,070	$215,996	$45,857
Maine	$338,000	$304,200	$1,923	$388,156	$82,357
Maryland	$395,000	$355,500	$2,248	$453,629	$96,286
Massachusetts	$538,000	$484,200	$3,061	$617,930	$131,143
Michigan	$230,000	$207,000	$1,309	$264,254	$56,071
Minnesota	$320,000	$288,000	$1,821	$367,501	$78,000
Mississippi	$170,000	$153,000	$967	$195,307	$41,429
Missouri	$225,000	$202,500	$1,280	$258,470	$54,857
Montana	$425,000	$382,500	$2,418	$488,033	$103,571
Nebraska	$245,000	$220,500	$1,394	$281,460	$59,786
Nevada	$395,000	$355,500	$2,248	$453,629	$96,286
New Hampshire	$415,000	$373,500	$2,361	$476,538	$101,143
New Jersey	$489,000	$440,100	$2,782	$561,688	$119,214
New Mexico	$280,000	$252,000	$1,593	$321,668	$68,286
New York	$454,000	$408,600	$2,583	$521,396	$110,714
North Carolina	$313,000	$281,700	$1,781	$359,507	$76,286
North Dakota	$240,000	$216,000	$1,366	$275,714	$58,500
Ohio	$208,000	$187,200	$1,183	$238,908	$50,714
Oklahoma	$180,000	$162,000	$1,024	$206,777	$43,929
Oregon	$448,000	$403,200	$2,549	$514,498	$109,214
Pennsylvania	$260,000	$234,000	$1,479	$298,603	$63,429
Rhode Island	$405,000	$364,500	$2,305	$465,247	$98,714
South Carolina	$285,000	$256,500	$1,621	$327,390	$69,500
South Dakota	$275,000	$247,500	$1,565	$315,860	$67,071
Tennessee	$298,000	$268,200	$1,695	$342,207	$72,643
Texas	$327,000	$294,300	$1,861	$375,637	$79,714
Utah	$475,000	$427,500	$2,703	$545,811	$115,714
Vermont	$350,000	$315,000	$1,991	$401,897	$85,357
Virginia	$374,000	$336,600	$2,128	$429,501	$91,143
Washington	$530,000	$477,000	$3,016	$608,713	$129,143
West Virginia	$141,000	$126,900	$802	$161,985	$34,357
Wisconsin	$255,000	$229,500	$1,451	$292,851	$62,214
Wyoming	$295,000	$265,500	$1,679	$338,763	$71,929

The 10 Most Affordable States for Homebuyers

West Virginia leads with a monthly P&I of just $802 on the median home. Mississippi ($967), Louisiana ($1,070), Arkansas ($1,018), and Oklahoma ($1,024) round out the five cheapest states. In these markets, a household earning $45,000 can comfortably afford the median home under the 28% rule.

The affordability advantage is substantial. A West Virginia buyer pays $802 per month in P&I and $161,985 in total interest over 30 years. A California buyer pays $3,448 per month and $696,101 in total interest. The California buyer pays $534,116 more in interest alone — enough to buy four median-priced homes in West Virginia outright.

However, affordability correlates with economic factors. Low-cost states typically have lower median incomes, fewer high-paying industries, and slower home appreciation rates. A West Virginia home appreciating at 2% annually grows from $141,000 to $255,000 in 30 years. A California home appreciating at 4% annually grows from $606,000 to $1,966,000. The California owner builds far more wealth through appreciation despite paying far more in monthly costs.

The 10 Most Expensive States

Hawaii ($3,852/month), California ($3,448), Massachusetts ($3,061), Washington ($3,016), Colorado ($2,833), New Jersey ($2,782), New York ($2,583), Oregon ($2,549), Utah ($2,703), and Montana ($2,418) are the ten most expensive states for mortgage payments.

In Hawaii, the 28% rule requires a household income of $165,000 to afford the median home. The median household income in Hawaii is approximately $88,000 — creating a 47% affordability gap. California shows a similar pattern: $147,714 income needed versus approximately $84,000 median household income.

These gaps explain why homeownership rates in expensive states lag the national average. California's homeownership rate is 55.5% versus the national average of 65.7%. New York's is 54.0%. Hawaii's is 59.3%. In contrast, West Virginia (73.4%), Mississippi (71.5%), and Iowa (72.0%) significantly exceed the national average.

Property Tax Impact by State

Property taxes add significantly to monthly housing costs and vary as much as home prices. New Jersey has the highest effective property tax rate at approximately 2.23% — on the median $489,000 home, that is $10,905 annually or $909 per month on top of the mortgage payment. Illinois (2.08%), New Hampshire (1.93%), Connecticut (1.79%), and Vermont (1.73%) follow.

Hawaii has the lowest effective rate at 0.27% — just $1,828 annually on a $677,000 home, or $152 per month. Alabama (0.37%), Colorado (0.51%), Louisiana (0.55%), and South Carolina (0.55%) are also among the lowest.

When you add average property taxes to P&I payments, the state rankings shift. New Jersey jumps above Washington and Colorado in total monthly cost because its property taxes add nearly $900 per month. Texas, with no state income tax but a high 1.68% property tax rate, adds $458 per month in property taxes to the $1,861 P&I — making total housing costs $2,319, higher than states with comparable home prices but lower tax rates.

What These Numbers Mean for Buyers

The data makes one point clear: where you buy matters more than almost any other financial decision in homeownership. The same $80,000 household income supports a comfortable mortgage in 30 states and an impossible one in 10.

For remote workers with location flexibility, the financial case for lower-cost states is overwhelming. Moving from California to Tennessee saves approximately $1,753 per month in P&I alone ($21,036 per year), plus state income tax savings of roughly $5,000 per year if you also escape California income tax for Tennessee's zero state income tax. Total savings: over $26,000 per year, or $780,000 over 30 years.

Run your specific scenario with our Mortgage Calculator using your target home price and current rates. The Amortization Calculator shows your exact payment schedule, and the Salary Calculator helps you determine what percentage of income goes to housing in any state.