In some regions of the US, finding a mortgage with a monthly payment of less than $2K is still possible
Jan. 27, 2025
Image: Dave Hallock/Wirestock / stock.adobe.com
West Virginia leads the way in affordability, with monthly mortgage payments below $2,000.
Mortgage rates and home prices remain elevated, making monthly housing costs too much for many households to afford. However, in some areas it’s still possible to secure a low mortgage payment. According to analysis by real estate marketing platform Realtor.com, some states—particularly in the South and Midwest—even offer median monthly payments below $2,000. West Virginia is the most affordable state, with the median monthly mortgage payment at just $1,838. Ohio and Michigan follow closely behind, with median mortgage payments at $1,864 and $1,983, respectively.
“In today’s high-rate environment, housing payments are fairly high across the country. However, areas with lower-priced homes see lower monthly mortgage payments,” says Realtor.com senior economic research analyst Hannah Jones. “The median home price was just $249,000 in West Virginia in December, the lowest of any state in the country, and the typical housing payment reflects that.”Read more
