Average Monthly Mortgage Payment Now Costs 10 Work Days

Paying a mortgage doesn’t just cost money—it costs time. As prices rise, so does the number of hours the average American must work to pay their monthly housing costs
April 3, 2025
© Worawee Meepian | Dreamstime.com
A homeowner looks stressed out as they go over their monthly housing costs
With the median home now priced at $412,000, monthly mortgage payments now cost the average homeowner 10 days of work.

Buying a home is taking up a larger portion of Americans' paychecks. On average, a worker now spends 10 full work days each month to afford the median-priced home at $412,000, according to National Mortgage Professional. In some areas of the country, that commitment is even greater. Hawaii has the highest median home price at nearly $797,000, requiring 17 work days per month to cover the $5,222 mortgage payment. California follows with homeowners working 15 days to afford an average $4,773 payment. Montana, where home prices have surged, also requires 15 days of work per month to afford the median home price of $613,275.

In contrast, states across the Midwest and Southeast offer a more affordable picture. In West Virginia and Ohio, where median home prices are $247,000 and $259,450 respectively, the average homeowner spends six to seven workdays a month on mortgage payments. Read more

 

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