The average monthly mortgage payment in the USA is $1,869 which represents the average monthly payment across all outstanding residential mortgages. What if you wanted to purchase the average priced home in 2025? This would result in a much higher mortgage payment of $2,839.
It is important to also consider the median mortgage payment to fully understand mortgage payments on homes in the USA. The median monthly mortgage payment on all outstanding mortgages is $1,606. If you were to purchase the median priced home your monthly mortgage payment would be $2,364.
Median Monthly Mortgage Payment
This graph shows the relationship between the overall median mortgage payment compared to the monthly mortgage payment if you were to purchase a median priced home at the current 30-year fixed mortgage rate. This payment is calculated based on a 10% down payment.
In Q3 2024 the median priced home in the USA was $415,300. If you wanted to purchase this home with a 10% down payment, you would require a mortgage of $373,770. At this point in time the 30-year fixed mortgage rate was 6.51%. This would result in the monthly mortgage payment of $2,364.
This monthly mortgage payment is much higher than the actual median mortgage payment in Q3 2024 of $1,606. However, as more people enter into higher mortgage payment the overall actual medain monthly payment increases. As you can see this actual payment has increased from $1,048 in 2013 when this statistic started being tracked to $1,606 in Q3 2024.
Average Monthly Mortgage Payment
The average monthly mortgage payment is even higher than the median monthly payment. If you wanted to purchase the average priced home of $498,700 with a 10% down payment would need a mortgage of $448,830. At a 30-year fixed mortgage rate of 6.51% the monthly mortgage payment would be $2,839.