What Is the Average Mortgage Payment?
Written by May Ortega on November 12, 2026
Reviewed by Alycia Lucio, Edited by Suzanne De Vita
Your potential monthly mortgage payment is key to understanding what home price range fits your budget. The typical home in the U.S. is valued at $364,288 as of October 2026, according to Zillow research. That means for a 30-year fixed loan, a 20% down payment, and mortgage rates as of October, the mortgage payment would be $2,004 per month. That includes principal, or the amount borrowed, and interest, the cost of borrowing the money.
Keep in mind: About half of home buyers with a mortgage (50%) in 2026 put down less than 20%, which means their mortgage payments were higher than the typical. Let’s jump in to learn more about what affects mortgage payment costs and how the average may vary.
Factors that impact mortgage payment averages
Location
Where you live directly impacts your monthly mortgage payment. Home prices, property taxes, and insurance rates can vary widely based on where you live. Property taxes and homeowners insurance may be included in your monthly payment, depending on your lender and loan.
Interest rate
Your interest rate plays a major role in how much you pay each month. Even a small difference in rates can add up significantly over time. Your credit score is one of the things lenders consider when setting your rate, so a stronger score can mean a lower rate and a lower payment.
Home price
The price of the home you buy determines how much you need to finance. A higher price generally means a larger loan and a higher monthly payment.
Down payment
A larger down payment reduces the amount you need to borrow, which in turn lowers your monthly payment. A smaller down payment means a larger loan and may add mortgage insurance, covered below.
Loan amount
The size of your loan, based on the home’s price minus your down payment, sets the foundation for your monthly payment.
Loan term
A loan term is the length of time you have to repay your mortgage. Shorter terms (like 15 years) usually come with higher monthly payments but less interest over time, while longer terms (like 30 years) spread payments out but increase total interest paid.
Property taxes
Many homeowners pay property taxes as part of their monthly mortgage bill. These taxes are set locally and can vary significantly depending on where you live.
Your property tax estimate is:
Annual property taxes
$4,200.00
Monthly property taxes
$350.00
Avg. tax rate
0.84 %
Homeowners insurance
Lenders typically require homeowners insurance, which adds to your monthly cost. Rates depend on factors like location, property value, and coverage level. Not every lender collects homeowners insurance in escrow with your monthly payment, so you may need to pay it on your own. Property taxes are more commonly included.
Mortgage insurance
If your down payment is less than 20% and you’re getting a conventional or FHA loan, you’ll pay mortgage insurance. This protects the lender and increases your monthly payment.
HOA fees
If your home is in a community with a homeowners association (HOA), you may also pay monthly or annual HOA fees. These costs can range from modest to substantial depending on amenities and services.
How much will my mortgage payment be?
The more money you borrow, the higher your monthly mortgage payment will be. For instance, say you took out a 30-year fixed-rate mortgage with an interest rate of 7.33%. A mortgage payment on a $300,000 mortgage versus a $600,000 mortgage would cost more than $2,000 less each month. In this example, the payments are based only on the loan amount and interest rate. Your mortgage payments will shrink based on how much money you put down.
| Loan amount | Monthly mortgage payment (principal & interest) |
| $300,000 | $2,062 |
| $400,000 | $2,750 |
| $500,000 | $3,437 |
| $600,000 | $4,125 |
*These figures only include principal and interest and not other costs, like property taxes or homeowners insurance.
Want to try some additional numbers? Zillow’s Amortization Calculator makes it easy to estimate monthly mortgage payments and see total interest paid over the life of the loan with just a few inputs.
Average mortgage payment in California
California’s high cost of living and competitive real estate markets make mortgage payments higher than the national average. According to Zillow data from October 2026, the typical monthly payment for a mortgage with a 20% down payment is $5,218 in Los Angeles (or $6,368 if you tack on homeowners insurance, property taxes and maintenance) and $6,192 in San Francisco (or $7,673 if including insurance, taxes and maintenance). Riverside, in Southern California east of Los Angeles, is lower at $3,188 (or $4,014 with insurance, taxes and maintenance).
Average mortgage payment in Texas
The typical monthly mortgage payment with 20% down in Texas is below the national average. In Dallas, the typical monthly mortgage payment as of October 2026 is $1,953 (or $2,770 with the addition of homeowners insurance, property taxes and maintenance). Houston is more affordable at $1,653 (or $2,300 with insurance, taxes and maintenance). Austin is more expensive than both Dallas and Houston, with a typical mortgage payment of $2,250 (or $3,180 with insurance, taxes and maintenance). The lack of state income tax in Texas could help you stretch your paychecks further, but Texas also has fairly high property taxes.
Average mortgage payment in Florida
In The Sunshine State, mortgage payments vary pretty significantly by metro area. For example, in Miami, the typical monthly mortgage payment with 20% down as of October 2026 is $2,633, or $3,722 including homeowners insurance, property taxes and maintenance. Orlando is closer to the national average, at $2,098 (or $2,846 with insurance, taxes and maintenance), while Jacksonville is lower, at $1,920 (or $2,623 with insurance, taxes and maintenance). Florida’s lower state taxes make the out-the-door costs more affordable, but be prepared to pay higher homeowners insurance premiums for hurricane and storm coverage.
Average mortgage payment in Ohio
Ohio is one of the more affordable states, with its three largest cities boasting mortgage costs lower than the national average. As of October 2026, the typical monthly mortgage payment with 20% down in Cleveland is $1,369, or $1,921 if you account for homeowners insurance, property taxes and maintenance. In Cincinnati, the typical mortgage payment is $1,672 (or $2,224 with insurance, taxes and maintenance), while in Columbus, the typical payment is $1,792 (or $2,429 with insurance, taxes and maintenance).
Average mortgage payment by state
How much you’ll pay for your new mortgage each month can vary significantly by state. This is because housing prices vary significantly in different parts of the country.
The table shows the typical monthly mortgage payment as of October 2026, based on a 20% down payment, a 30-year fixed-rate mortgage and a 7.33% interest rate. Monthly mortgage payment includes principal and interest only. Total monthly payment adds homeowners insurance, property taxes and maintenance.
| State | Typical home value (Oct. 2026) | Monthly mortgage payment (principal & interest) | Total monthly payment |
|---|---|---|---|
| Alabama | $237,755 | $1,308 | $1,660 |
| Alaska | $394,924 | $2,172 | $2,901 |
| Arizona | $414,580 | $2,280 | $2,728 |
| Arkansas | $221,102 | $1,216 | $1,569 |
| California | $760,612 | $4,183 | $5,180 |
| Colorado | $524,797 | $2,886 | $3,599 |
| Connecticut | $444,831 | $2,446 | $3,413 |
| Delaware | $404,010 | $2,222 | $2,678 |
| Florida | $375,056 | $2,063 | $2,837 |
| Georgia | $326,830 | $1,798 | $2,353 |
| Hawaii | $833,001 | $4,581 | $5,354 |
| Idaho | $472,522 | $2,599 | $3,079 |
| Illinois | $295,631 | $1,626 | $2,407 |
| Indiana | $256,138 | $1,409 | $1,834 |
| Iowa | $234,795 | $1,291 | $1,811 |
| Kansas | $245,071 | $1,348 | $1,918 |
| Kentucky | $228,639 | $1,257 | $1,628 |
| Louisiana | $212,191 | $1,167 | $1,654 |
| Maine | $405,310 | $2,229 | $2,734 |
| Maryland | $423,482 | $2,329 | $3,042 |
| Massachusetts | $653,666 | $3,595 | $4,609 |
| Michigan | $260,573 | $1,433 | $1,903 |
| Minnesota | $345,239 | $1,899 | $2,561 |
| Mississippi | $192,138 | $1,057 | $1,425 |
| Missouri | $263,994 | $1,452 | $1,907 |
| Montana | $463,530 | $2,549 | $3,113 |
| Nebraska | $276,069 | $1,518 | $2,144 |
| Nevada | $437,905 | $2,408 | $2,883 |
| New Hampshire | $507,111 | $2,789 | $3,304 |
| New Jersey | $574,261 | $3,158 | $4,353 |
| New Mexico | $313,576 | $1,725 | $2,165 |
| New York | $523,217 | $2,878 | $3,681 |
| North Carolina | $330,220 | $1,816 | $2,282 |
| North Dakota | $288,259 | $1,585 | $2,059 |
| Ohio | $244,978 | $1,347 | $1,839 |
| Oklahoma | $219,842 | $1,209 | $1,683 |
| Oregon | $488,374 | $2,686 | $3,381 |
| Pennsylvania | $285,897 | $1,572 | $2,142 |
| Rhode Island | $505,848 | $2,782 | $3,637 |
| South Carolina | $302,917 | $1,666 | $2,065 |
| South Dakota | $315,529 | $1,735 | $2,331 |
| Tennessee | $329,716 | $1,813 | $2,230 |
| Texas | $294,311 | $1,619 | $2,271 |
| Utah | $527,865 | $2,903 | $3,483 |
| Vermont | $389,136 | $2,140 | $2,905 |
| Virginia | $410,270 | $2,256 | $2,858 |
| Washington | $580,939 | $3,195 | $4,015 |
| West Virginia | $175,778 | $967 | $1,217 |
| Wisconsin | $333,806 | $1,836 | $2,438 |
| Wyoming | $367,297 | $2,020 | $2,497 |
How much is the average mortgage payment?
Factoring in a 20% down payment and looking at just principal and interest, the typical monthly mortgage payment in the U.S. is $2,004 as of October 2026.
While principal and interest make up the bulk of most mortgage payments, there are other items that may be rolled into your monthly mortgage payment and held in an escrow account. Common items include mortgage insurance premiums, property taxes, homeowners insurance premiums and homeowners association (HOA) fees. When these additional costs (homeowners insurance, property taxes and maintenance) are included in the national data, the average monthly mortgage payment with a 20% down payment increases to $2,603.
To estimate your monthly mortgage payment, including property taxes, home insurance, and HOA dues, try our Mortgage Calculator. Be sure to click on “Advanced” to see all input options.
Find out how much you can afford
There are so many factors that go into a monthly mortgage payment. As you start your home-buying journey, be sure to talk to a mortgage expert. Our Zillow Home Loans officers are available 7 days a week to answer your questions and guide you through the pre-approval process.
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