What Is an Average Mortgage Payment? (Try Our Calculator)
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Richard Haddad Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
For most people, homeownership is a financial balancing act. Whether you’re buying your first house or selling your current home to buy your next one, that monthly payment is an ever-present part of the American Dream.
In this post, you can compare your monthly home loan or rent payment with the average mortgage payment in the U.S. You can also use our Average Mortgage Payment Calculator to see what you can expect before your next move.
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What is the average mortgage payment?
According to the latest data from Mortgage Bankers Association, the national median monthly mortgage payment in the U.S. is $2,211. This figure includes principal and interest based on current loan application data and assumes a 30-year fixed-rate mortgage.
We’re presenting the “median” estimate rather than the average mortgage payment because most industry sources don’t track averages. That’s because averages can be skewed by a small number of high or low payments.
However, as a borrower, you can figure out what your average mortgage payment might be by calculating your loan’s estimated principal, interest, taxes, and insurance (PITI).
- Principal: The portion that goes toward paying down your loan balance
- Interest: The cost of borrowing money from your lender
- Taxes: Property taxes paid to your local government
- Insurance: Homeowners insurance (and sometimes mortgage insurance)
While a typical mortgage payment may be $2,211, home prices vary widely across the country. The mortgage payment for a $183,000 median-priced home in Charleston, West Virginia, will be wildly different from that of a $1,425,000 median-priced home in San Francisco, California.
Try our average mortgage payment calculator
Want to see how your current or potential mortgage stacks up against what others are paying? Use our Average Mortgage Payment Calculator, which can give you a ballpark estimate based on the four main components of a typical monthly mortgage payment.
Our calculator also accounts for private mortgage insurance (PMI), a monthly fee lenders typically require if you put down less than 20% on a conventional loan. It protects the lender (not you) if you stop making payments.
This tool can help you quickly size up your payment expectations if you’re:
- Renting and planning your first home purchase
- Already a homeowner checking how your loan compares
- Considering a move and exploring what your next home might cost
How mortgage payments have changed over time
Wondering how today’s mortgage payments compare to past decades? Our interactive chart below shows typical monthly mortgage payments from 1971 to 2025, adjusted for inflation. That means you can see what buyers would’ve paid each year in today’s dollars, not just what it cost at the time.
What’s next on your home journey?
Whether you’re renting and thinking about buying, already own a home, or are planning your next move, having the right planning tools and expert guidance can make all the difference.
Here’s how HomeLight can help:
- Buying your first home? Use our Home Affordability Calculator to set a smart and sustainable budget.
- Figuring out your down payment? Try our Down Payment Calculator to see how much you may need and how your savings could affect your monthly payment.
- Estimating closing costs? Our Closing Costs Calculator helps you understand the fees and expenses to expect at the closing table.
- Already own a home? Use our Home Value Estimator to get a real-world estimate of what your property could be worth today.
- Buying and selling at the same time? With Buy Before You Sell, you can unlock your home equity early and purchase your next home without the stress of timing both transactions or moving twice.
- Need guidance? Our free Agent Match platform connects you with top-performing real estate agents in your area who can help you reach your goals, whether you’re buying, selling, or doing both.
Whenever you’re ready to take the next step, HomeLight has tools and trusted professionals to support you every step of the way.
Header Image Source: (Roger Starnes Sr/ Unsplash)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.