Home
Table of contents
- Monthly mortgage payments in the USA
- Average payments
- Median payments
- Historical monthly mortgage payments
Monthly average and median mortgage payments in the US
The average monthly mortgage payment in the US was $1,848 at the end of Q2 2024 — the median monthly mortgage payment was $1,541 as reported by the Federal Housing Finance Agency (FHFA).
Average monthly mortgage payments
The most recent monthly mortgage payment data in Q2 2024 shows the average monthly mortgage payment in the USA to be $1,848 — up from 1,700 in Q1 2024.
The average monthly mortgage payment has increased 35.98% over the past five years. The average monthly mortgage payment costs $489 more comparing the Q2 2024 payment of $1,848 to the monthly payment of $1,359 in Q2 2020.
- 2024: $1,848
- 2023: $1,773
- 2022: $1,639
- 2021: $1,470
- 2020: $1,384
Median monthly mortgage payments
Q2 2024 monthly mortgage data shows the median monthly mortgage payment in the USA to be $1,541 — up from 1,508 in Q1 2024.
The median monthly mortgage payment has increased 31.26% over the past five years. The median monthly mortgage payment costs $367 more comparing the Q2 2024 payment of $1,541 to the monthly payment of $1,174 in Q2 2020.
- 2024: $1,541
- 2023: $1,488
- 2022: $1,385
- 2021: $1,250
- 2020: $1,169
Historical monthly average and median mortgage payments (2013 - 2024)
This chart shows all of the historical average and median monthly mortgage payments by quarter from Q1 2013 to Q2 2024.
Over this period of time the historical mortgage interest rate was 4.1% with over 25% of US homebuyers locking in a sub 3% interest rate.
| Date | Average Payment | Median Payment |
|---|---|---|
| Q1 2013 | $1,256 | $1,047 |
| Q2 2013 | $1,246 | $1,038 |
| Q3 2013 | $1,258 | $1,046 |
| Q4 2013 | $1,273 | $1,057 |
| Q1 2014 | $1,284 | $1,064 |
| Q2 2014 | $1,279 | $1,063 |
| Q3 2014 | $1,282 | $1,065 |
| Q4 2014 | $1,285 | $1,069 |
| Q1 2015 | $1,285 | $1,071 |
| Q2 2015 | $1,279 | $1,069 |
| Q3 2015 | $1,290 | $1,077 |
| Q4 2015 | $1,308 | $1,093 |
| Q1 2016 | $1,315 | $1,101 |
| Q2 2016 | $1,309 | $1,097 |
| Q3 2016 | $1,308 | $1,098 |
| Q4 2016 | $1,318 | $1,105 |
| Q1 2017 | $1,345 | $1,125 |
| Q2 2017 | $1,345 | $1,128 |
| Q3 2017 | $1,357 | $1,136 |
| Q4 2017 | $1,370 | $1,147 |
| Q1 2018 | $1,389 | $1,163 |
| Q2 2018 | $1,393 | $1,168 |
| Q3 2018 | $1,409 | $1,182 |
| Q4 2018 | $1,430 | $1,199 |
| Q1 2019 | $1,447 | $1,215 |
| Q2 2019 | $1,437 | $1,213 |
| Q3 2019 | $1,432 | $1,214 |
| Q4 2019 | $1,439 | $1,220 |
| Q1 2020 | $1,456 | $1,231 |
| Q2 2020 | $1,359 | $1,174 |
| Q3 2020 | $1,376 | $1,171 |
| Q4 2020 | $1,384 | $1,169 |
| Q1 2021 | $1,388 | $1,175 |
| Q2 2021 | $1,426 | $1,207 |
| Q3 2021 | $1,446 | $1,225 |
| Q4 2021 | $1,470 | $1,250 |
| Q1 2022 | $1,520 | $1,292 |
| Q2 2022 | $1,562 | $1,327 |
| Q3 2022 | $1,603 | $1,358 |
| Q4 2022 | $1,639 | $1,385 |
| Q1 2023 | $1,686 | $1,421 |
| Q2 2023 | $1,693 | $1,428 |
| Q3 2023 | $1,725 | $1,453 |
| Q4 2023 | $1,773 | $1,488 |
| Q1 2024 | $1,799 | $1,508 |
| Q2 2024 | $1,848 | $1,541 |