The Average Monthly Mortgage Payment in Every State

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It’s easy to get hung up on the price of a home as the main consideration in whether you can afford it, particularly if you have to rally a sizable down payment to buy one. However, the number that will affect you most on a monthly basis is your mortgage, that payment you make to pay down your home loan.

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Your mortgage is largely based on your income, but your credit score also plays a role in determining the kind of loan you’re eligible for. The smart thing to do before you buy a home is to seek preapproval for a loan, so you know exactly what you’re able to borrow and how this will translate into a monthly mortgage payment.

Home prices vary from state to state,and, for this piece, GOBankingRates found the average monthly mortgage payment in every state assuming a 20% down payment, 30-year fixed loan, and a 6.9% interest rate as sourced from St. Louis Federal Reserve.

Read on to find out the average monthly mortgage payment in every state. Also see steps you can take to lower your mortgage payment.

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Alabama

• Monthly mortgage payment: $1,200

• 2024 average home value: $214,175

• Yearly mortgage: $14,398

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Alaska

• Monthly mortgage payment: $2,214

• 2024 average home value: $360,861

• Yearly mortgage: $26,569

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Arizona

• Monthly mortgage payment: $2,502

• 2024 average home value: $431,917

• Yearly mortgage: $30,029

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Arkansas

• Monthly mortgage payment: $1,132

• 2024 average home value: $195,185

• Yearly mortgage: $13,590

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California

• Monthly mortgage payment: $4,536

• 2024 average home value: $769,579

• Yearly mortgage: $54,429

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Colorado

• Monthly mortgage payment: $3,082

• 2024 average home value: $538,132

• Yearly mortgage: $36,983

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Connecticut

• Monthly mortgage payment: $2,723

• 2024 average home value: $402,836

• Yearly mortgage: $32,680

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Delaware

• Monthly mortgage payment: $2,120

• 2024 average home value: $366,934

• Yearly mortgage: $25,438

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Florida

• Monthly mortgage payment: $2,443

• 2024 average home value: $405,396

• Yearly mortgage: $29,321

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Georgia

• Monthly mortgage payment: $1,928

• 2024 average home value: $319,427

• Yearly mortgage: $23,135

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Hawaii

• Monthly mortgage payment: $5,253

• 2024 average home value: $948,964

• Yearly mortgage: $63,035

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Idaho

• Monthly mortgage payment: $2,536

• 2024 average home value: $435,248

• Yearly mortgage: $30,435

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Illinois

• Monthly mortgage payment: $1,771

• 2024 average home value: $252,899

• Yearly mortgage: $21,250

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Indiana

• Monthly mortgage payment: $1,367

• 2024 average home value: $229,101

• Yearly mortgage: $16,410

Read More: Why Barbara Corcoran Says Now Is the ‘Best Time’ To Buy a House

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Iowa

• Monthly mortgage payment: $1,372

• 2024 average home value: $209,990

• Yearly mortgage: $16,469

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Kansas

• Monthly mortgage payment: $1,371

• 2024 average home value: $214,724

• Yearly mortgage: $16,453

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Kentucky

• Monthly mortgage payment: $1,144

• 2024 average home value: $191,960

• Yearly mortgage: $13,730

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Louisiana

• Monthly mortgage payment: $1,108

• 2024 average home value: $193,183

• Yearly mortgage: $13,296

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Maine

• Monthly mortgage payment: $2,350

• 2024 average home value: $372,918

• Yearly mortgage: $28,202

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Maryland

• Monthly mortgage payment: $2,530

• 2024 average home value: $411,837

• Yearly mortgage: $30,363

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Massachusetts

• Monthly mortgage payment: $3,758

• 2024 average home value: $604,362

• Yearly mortgage: $45,101

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Michigan

• Monthly mortgage payment: $1,455

• 2024 average home value: $226,746

• Yearly mortgage: $17,465

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Minnesota

• Monthly mortgage payment: $1,995

• 2024 average home value: $322,082

• Yearly mortgage: $23,939

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Mississippi

• Monthly mortgage payment: $986

• 2024 average home value: $169,211

• Yearly mortgage: $11,832

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Missouri

• Monthly mortgage payment: $1,441

• 2024 average home value: $235,779

• Yearly mortgage: $17,289

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Montana

• Monthly mortgage payment: $2,605

• 2024 average home value: $442,685

• Yearly mortgage: $31,265

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Nebraska

• Monthly mortgage payment: $1,647

• 2024 average home value: $248,523

• Yearly mortgage: $19,764

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Nevada

• Monthly mortgage payment: $2,506

• 2024 average home value: $434,956

• Yearly mortgage: $30,067

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New Hampshire

• Monthly mortgage payment: $3,189

• 2024 average home value: $463,760

• Yearly mortgage: $38,272

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New Jersey

• Monthly mortgage payment: $3,657

• 2024 average home value: $513,054

• Yearly mortgage: $43,879

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New Mexico

• Monthly mortgage payment: $1,701

• 2024 average home value: $291,959

• Yearly mortgage: $20,415

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New York

• Monthly mortgage payment: $2,735

• 2024 average home value: $425,053

• Yearly mortgage: $32,825

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North Carolina

• Monthly mortgage payment: $1,903

• 2024 average home value: $319,721

• Yearly mortgage: $22,836

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North Dakota

• Monthly mortgage payment: $1,517

• 2024 average home value: $249,280

• Yearly mortgage: $18,204

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Ohio

• Monthly mortgage payment: $1,418

• 2024 average home value: $215,107

• Yearly mortgage: $17,021

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Oklahoma

• Monthly mortgage payment: $1,183

• 2024 average home value: $196,835

• Yearly mortgage: $14,197

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Oregon

• Monthly mortgage payment: $2,949

• 2024 average home value: $488,012

• Yearly mortgage: $35,393

©Zillow

Pennsylvania

• Monthly mortgage payment: $1,658

• 2024 average home value: $254,628

• Yearly mortgage: $19,893

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Rhode Island

• Monthly mortgage payment: $2,842

• 2024 average home value: $441,648

• Yearly mortgage: $34,107

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South Carolina

• Monthly mortgage payment: $1,639

• 2024 average home value: $285,275

• Yearly mortgage: $19,663

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South Dakota

• Monthly mortgage payment: $1,812

• 2024 average home value: $290,267

• Yearly mortgage: $21,748

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Tennessee

• Monthly mortgage payment: $1,776

• 2024 average home value: $304,832

• Yearly mortgage: $21,316

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Texas

• Monthly mortgage payment: $1,984

• 2024 average home value: $297,525

• Yearly mortgage: $23,810

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Utah

• Monthly mortgage payment: $2,936

• 2024 average home value: $511,137

• Yearly mortgage: $35,230

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Vermont

• Monthly mortgage payment: $2,574

• 2024 average home value: $378,838

• Yearly mortgage: $30,885

Learn More: Barbara Corcoran Says, ‘If You Buy a Home Now, It’s To Your Advantage’

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Virginia

• Monthly mortgage payment: $2,251

• 2024 average home value: $375,558

• Yearly mortgage: $27,012

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Washington

• Monthly mortgage payment: $3,452

• 2024 average home value: $575,888

• Yearly mortgage: $41,421

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West Virginia

• Monthly mortgage payment: $875

• 2024 average home value: $152,323

• Yearly mortgage: $10,499

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Wisconsin

• Monthly mortgage payment: $1,885

• 2024 average home value: $285,124

• Yearly mortgage: $22,618

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Wyoming

• Monthly mortgage payment: $1,899

• 2024 average home value: $331,028

• Yearly mortgage: $22,783

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, current interest rate as sourced from St. Louis Federal Reserve (6.90%) for every state and multiplying that by 12 (1 year), sourced from Zillow’s home value index for January 2024 and determined using an in-house mortgage calculator formula. All data was collected on and is up to date as of Feb. 22, 2024.

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This article originally appeared on GOBankingRates.com: The Average Monthly Mortgage Payment in Every State