Key Takeaways
- The U.S. median home price in May was $440,000, according to new data from Realtor.com.
- With an average 30-year mortgage rate of 7.02% and 20% down, the typical monthly payment was $2,347.
- Monthly mortgage costs vary sharply by metro—from a surprisingly affordable $1,330 in Pittsburgh to a seriously pricey $7,530 in San Jose, Calif.
- Tables below break down average mortgage payments across all 50 of the largest U.S. metro areas.
The full article continues below these offers from our partners.
Median Home Prices Vary Sharply Across the Country
The median home listing price in May was $440,000, according to Realtor.com’s latest monthly report on the U.S. home buying market. That’s down just slightly from May a year ago, when the median price was $442,500.
May mortgage rates, meanwhile, are currently a bit elevated. According to Zillow rate quotes for new purchase mortgages, the average 30-year rate across May was 7.02%, vs. 6.94% in April.
Assuming a 20% down payment and the May averages above, the national average monthly mortgage payment (principal and interest only) is $2,347.
Average Payments Range from Under $1,400 to Over $7,000
Of course, home prices and mortgage rates vary by state and market, so the mortgage payments of someone in Pittsburgh will be wildly different from those of a homeowner in the Bay Area. Here are some key May findings from our analysis of the 50 largest metros:
- The four most expensive markets were all in California, with the San Jose area topping the list at a $7,530 average monthly payment.
- The highest-cost metro outside of California was again Boston, at $4,690 per month, followed by Seattle at $4,253 and New York at $4,157.
- Pittsburgh earns “most affordable” honors, with the average mortgage payment coming in at just $1,330 in May. Greater Detroit comes in second at $1,440.
To compare all 50 metropolitan areas, we’ve listed the median home prices, average May mortgage rates, and typical monthly payments below, organized by region.
The Northeast
| Metro Area | Median Home Price (May 2025) | Average 30-Year Mortgage Rate (May 2025) | May Monthly Payment With 20% Down |
|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH | $879,000 | 7.03% | $4,690 |
| New York-Newark-Jersey City, NY-NJ | $795,000 | 6.83% | $4,157 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $634,900 | 7.08% | $3,407 |
| Providence-Warwick, RI-MA | $595,000 | 7.06% | $3,187 |
| Hartford-West Hartford-East Hartford, CT | $469,450 | 7.03% | $2,507 |
| Baltimore-Columbia-Towson, MD | $399,999 | 7.06% | $2,142 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $385,000 | 7.00% | $2,049 |
| Buffalo-Cheektowaga, NY | $299,900 | 6.83% | $1,568 |
| Pittsburgh, PA | $249,900 | 7.00% | $1,330 |
The South
| Metro Area | Median Home Price (May 2025) | Average 30-Year Mortgage Rate (May 2025) | May Monthly Payment With 20% Down |
|---|---|---|---|
| Nashville-Davidson–Murfreesboro–Franklin, TN | $548,950 | 7.00% | $2,923 |
| Austin-Round Rock-San Marcos, TX | $525,000 | 6.98% | $2,790 |
| Miami-Fort Lauderdale-West Palm Beach, FL | $510,000 | 6.98% | $2,710 |
| Richmond, VA | $460,000 | 7.03% | $2,456 |
| Raleigh-Cary, NC | $456,695 | 6.99% | $2,429 |
| Charlotte-Concord-Gastonia, NC-SC | $450,000 | 6.99% | $2,394 |
| Dallas-Fort Worth-Arlington, TX | $440,000 | 6.98% | $2,338 |
| Orlando-Kissimmee-Sanford, FL | $429,900 | 6.98% | $2,284 |
| Atlanta-Sandy Springs-Roswell, GA | $419,900 | 7.01% | $2,237 |
| Tampa-St. Petersburg-Clearwater, FL | $417,500 | 6.98% | $2,218 |
| Virginia Beach-Chesapeake-Norfolk, VA-NC | $415,000 | 7.03% | $2,216 |
| Jacksonville, FL | $405,000 | 6.98% | $2,152 |
| Houston-Pasadena-The Woodlands, TX | $372,500 | 6.98% | $1,980 |
| Memphis, TN-MS-AR | $350,000 | 7.00% | $1,864 |
| San Antonio-New Braunfels, TX | $340,000 | 6.98% | $1,807 |
| Oklahoma City, OK | $329,875 | 7.05% | $1,764 |
| Louisville/Jefferson County, KY-IN | $326,990 | 7.03% | $1,746 |
| Birmingham, AL | $299,900 | 7.03% | $1,601 |
The Midwest
| Metro Area | Median Home Price (May 2025) | Average 30-Year Mortgage Rate (May 2025) | May Monthly Payment With 20% Down |
|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | $446,000 | 7.03% | $2,381 |
| Kansas City, MO-KS | $410,073 | 7.03% | $2,190 |
| Milwaukee-Waukesha, WI | $399,500 | 7.04% | $2,136 |
| Grand Rapids-Wyoming-Kentwood, MI | $399,900 | 7.02% | $2,133 |
| Columbus, OH | $389,900 | 7.03% | $2,081 |
| Chicago-Naperville-Elgin, IL-IN | $379,900 | 7.04% | $2,029 |
| Cincinnati, OH-KY-IN | $354,975 | 7.03% | $1,895 |
| Indianapolis-Carmel-Greenwood, IN | $331,500 | 7.03% | $1,770 |
| St. Louis, MO-IL | $299,900 | 7.03% | $1,602 |
| Cleveland, OH | $275,000 | 7.03% | $1,468 |
| Detroit-Warren-Dearborn, MI | $270,000 | 7.02% | $1,440 |
The West
| Metro Area | Median Home Price (May 2025) | Average 30-Year Mortgage Rate (May 2025) | May Monthly Payment With 20% Down |
|---|---|---|---|
| San Jose-Sunnyvale-Santa Clara, CA | $1,419,500 | 6.97% | $7,530 |
| Los Angeles-Long Beach-Anaheim, CA | $1,195,000 | 6.97% | $6,340 |
| San Francisco-Oakland-Fremont, CA | $998,800 | 6.97% | $5,299 |
| San Diego-Chula Vista-Carlsbad, CA | $995,000 | 6.97% | $5,279 |
| Seattle-Tacoma-Bellevue, WA | $799,000 | 7.00% | $4,253 |
| Sacramento-Roseville-Folsom, CA | $639,000 | 6.97% | $3,390 |
| Portland-Vancouver-Hillsboro, OR-WA | $610,707 | 7.02% | $3,258 |
| Denver-Aurora-Centennial, CO | $600,000 | 7.01% | $3,197 |
| Riverside-San Bernardino-Ontario, CA | $600,000 | 6.97% | $3,183 |
| Phoenix-Mesa-Chandler, AZ | $525,000 | 7.03% | $2,803 |
| Las Vegas-Henderson-North Las Vegas, NV | $484,999 | 7.06% | $2,597 |
| Tucson, AZ | $398,000 | 7.03% | $2,125 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.
:max_bytes(150000):strip_icc()/THU-Portugal2004-c785f2fb26b04beeac1f4b3d7c4f9070.jpg?ssl=1&description=From+Pittsburgh+to+San+Jose%3A+These+Are+the+Cheapest%E2%80%94and+Most+Expensive%E2%80%94Cities+to+Buy+a+Home+Right+Now){kind=link}