The Average Monthly Mortgage in Every State Based on Your Down Payment

J. David Herman

Sun, Apr 7, 2024, 3:00 PM18 min read

Wondering how much mortgage you’ll have to bite off to buy a house in your state? Or how your current mortgage measures up?

In many states, the numbers will vary widely depending on which part of the state you are buying in. A home in New York City, for example, will generally cost a lot more than a place in Buffalo. That said, average home values and monthly mortgage payments can give potential buyers a pretty good idea of what they’re in for from state to state.

As for the variance between states, let’s put it this way: There’s one state where a 20% down payment on a home means forking over nearly $190,000, and then still paying more than $5,000 every month for 30 years. In another state, that 20% down payment will run you just $34,000 and leave you with a monthly payment of less than $900.

Quite a contrast.

To give you a state-by-state breakdown of average home values and average monthly mortgage rates, GOBankingRates has blended data from the Zillow Home Value Index and Federal Reserve. Our list includes how much money you’ll have to put down in each state to hit the 10%, 15% and 20% marks, along with the average monthly payments each will leave you with. Here’s our state-by-state list, in alphabetical order.

Alabama

Average home value (January 2024): $214,175
Amount needed for 10% down payment: $21,418
Average monthly mortgage with 10% down payment: $1,275
Amount needed for 15% down payment: $32,126
Average monthly mortgage with 15% down payment: $1,204
Amount needed for 20% down payment: $42,835
Average monthly mortgage with 20% down payment: $1,133

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Alaska

Average home value (January 2024): $360,861
Amount needed for 10% down payment: $36,086
Average monthly mortgage with 10% down payment: $2,148
Amount needed for 15% down payment: $54,129
Average monthly mortgage with 15% down payment: $2,028
Amount needed for 20% down payment: $72,172
Average monthly mortgage with 20% down payment: $1,909

Arizona

Average home value (January 2024): $431,917
Amount needed for 10% down payment: $43,192
Average monthly mortgage with 10% down payment: $2,571
Amount needed for 15% down payment: $64,787
Average monthly mortgage with 15% down payment: $2,428
Amount needed for 20% down payment: $86,383
Average monthly mortgage with 20% down payment: $2,285

Michael Warren / Getty Images/iStockphoto

Arkansas

Average home value (January 2024): $195,185
Amount needed for 10% down payment: $19,518
Average monthly mortgage with 10% down payment: $1,162
Amount needed for 15% down payment: $29,278
Average monthly mortgage with 15% down payment: $1,097
Amount needed for 20% down payment: $39,037
Average monthly mortgage with 20% down payment: $1,033

California

Average home value (January 2024): $769,579
Amount needed for 10% down payment: $76,958
Average monthly mortgage with 10% down payment: $4,580
Amount needed for 15% down payment: $115,437
Average monthly mortgage with 15% down payment: $4,326
Amount needed for 20% down payment: $153,916
Average monthly mortgage with 20% down payment: $4,071

Colorado

Average home value (January 2024): $538,132
Amount needed for 10% down payment: $53,813
Average monthly mortgage with 10% down payment: $3,203
Amount needed for 15% down payment: $80,720
Average monthly mortgage with 15% down payment: $3,025
Amount needed for 20% down payment: $107,626
Average monthly mortgage with 20% down payment: $2,847

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Ron and Patty Thomas / Getty Images/iStockphoto

Connecticut

Average home value (January 2024): $402,834
Amount needed for 10% down payment: $40,283
Average monthly mortgage with 10% down payment: $2,397
Amount needed for 15% down payment: $60,425
Average monthly mortgage with 15% down payment: $2,264
Amount needed for 20% down payment: $80,567
Average monthly mortgage with 20% down payment: $2,131

DenisTangneyJr / Getty Images/iStockphoto

Delaware

Average home value (January 2024): $366,934
Amount needed for 10% down payment: $36,693
Average monthly mortgage with 10% down payment: $2,184
Amount needed for 15% down payment: $55,040
Average monthly mortgage with 15% down payment: $2,062
Amount needed for 20% down payment: $73,387
Average monthly mortgage with 20% down payment: $1,941

Florida

Average home value (January 2024): $405,396
Amount needed for 10% down payment: $40,540
Average monthly mortgage with 10% down payment: $2,413
Amount needed for 15% down payment: $60,809
Average monthly mortgage with 15% down payment: $2,279
Amount needed for 20% down payment: $81,079
Average monthly mortgage with 20% down payment: $2,145

Jacob Boomsma / Getty Images/iStockphoto

Georgia

Average home value (January 2024): $319,427
Amount needed for 10% down payment: $31,943
Average monthly mortgage with 10% down payment: $1,901
Amount needed for 15% down payment: $47,914
Average monthly mortgage with 15% down payment: $1,795
Amount needed for 20% down payment: $63,885
Average monthly mortgage with 20% down payment: $1,690

Hawaii

Average home value (January 2024): $948,964
Amount needed for 10% down payment: $94,896
Average monthly mortgage with 10% down payment: $5,648
Amount needed for 15% down payment: $142,345
Average monthly mortgage with 15% down payment: $5,334
Amount needed for 20% down payment: $189,793
Average monthly mortgage with 20% down payment: $5,020

Idaho

Average home value (January 2024): $435,248
Amount needed for 10% down payment: $43,525
Average monthly mortgage with 10% down payment: $2,590
Amount needed for 15% down payment: $65,287
Average monthly mortgage with 15% down payment: $2,446
Amount needed for 20% down payment: $87,050
Average monthly mortgage with 20% down payment: $2,303

Illinois

Average home value (January 2024): $252,859
Amount needed for 10% down payment: $25,286
Average monthly mortgage with 10% down payment: $1,505
Amount needed for 15% down payment: $37,935
Average monthly mortgage with 15% down payment: $1,422
Amount needed for 20% down payment: $50,580
Average monthly mortgage with 20% down payment: $1,338

Indiana

Average home value (January 2024): $229,101
Amount needed for 10% down payment: $22,910
Average monthly mortgage with 10% down payment: $1,363
Amount needed for 15% down payment: $34,365
Average monthly mortgage with 15% down payment: $1,288
Amount needed for 20% down payment: $45,820
Average monthly mortgage with 20% down payment: $1,212

Iowa

Average home value (January 2024): $209,990
Amount needed for 10% down payment: $20,999
Average monthly mortgage with 10% down payment: $1,250
Amount needed for 15% down payment: $31,498
Average monthly mortgage with 15% down payment: $1,180
Amount needed for 20% down payment: $41,998
Average monthly mortgage with 20% down payment: $1,111

Kansas

Average home value (January 2024): $214,724
Amount needed for 10% down payment: $21,472
Average monthly mortgage with 10% down payment: $1,278
Amount needed for 15% down payment: $32,209
Average monthly mortgage with 15% down payment: $1,207
Amount needed for 20% down payment: $42,945
Average monthly mortgage with 20% down payment: $1,136

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Kentucky

Average home value (January 2024): $191,960
Amount needed for 10% down payment: $19,196
Average monthly mortgage with 10% down payment: $1,142
Amount needed for 15% down payment: $28,794
Average monthly mortgage with 15% down payment: $1,079
Amount needed for 20% down payment: $3,8392
Average monthly mortgage with 20% down payment: $1,016

Louisiana

Average home value (January 2024): $193,183
Amount needed for 10% down payment: $19,318
Average monthly mortgage with 10% down payment: $1,150
Amount needed for 15% down payment: $28,977
Average monthly mortgage with 15% down payment: $1,086
Amount needed for 20% down payment: $38,637
Average monthly mortgage with 20% down payment: $1,022

Maine

Average home value (January 2024): $372,918
Amount needed for 10% down payment: $37,292
Average monthly mortgage with 10% down payment: $2,219
Amount needed for 15% down payment: $55,938
Average monthly mortgage with 15% down payment: $2,096
Amount needed for 20% down payment: $74,584
Average monthly mortgage with 20% down payment: $1,973

Maryland

Average home value (January 2024): $411,837
Amount needed for 10% down payment: $41,184
Average monthly mortgage with 10% down payment: $2,451
Amount needed for 15% down payment: $61,776
Average monthly mortgage with 15% down payment: $2,315
Amount needed for 20% down payment: $82,367
Average monthly mortgage with 20% down payment: $2,179

Massachusetts

Average home value (January 2024): $604,362
Amount needed for 10% down payment: $60,436
Average monthly mortgage with 10% down payment: $3,597
Amount needed for 15% down payment: $90,654
Average monthly mortgage with 15% down payment: $3,397
Amount needed for 20% down payment: $120,872
Average monthly mortgage with 20% down payment: $3,197

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Michigan

Average home value (January 2024): $226,746
Amount needed for 10% down payment: $22,675
Average monthly mortgage with 10% down payment: $1,349
Amount needed for 15% down payment: $34,012
Average monthly mortgage with 15% down payment: $1,275
Amount needed for 20% down payment: $45,349
Average monthly mortgage with 20% down payment: $1,200

Minnesota

Average home value (January 2024): $322,082
Amount needed for 10% down payment: $32,208
Average monthly mortgage with 10% down payment: $1,917
Amount needed for 15% down payment: $48,312
Average monthly mortgage with 15% down payment: $1,810
Amount needed for 20% down payment: $64,416
Average monthly mortgage with 20% down payment: $1,704

Mississippi

Average home value (January 2024): $169,211
Amount needed for 10% down payment: $16,921
Average monthly mortgage with 10% down payment: $1,007
Amount needed for 15% down payment: $25,382
Average monthly mortgage with 15% down payment: $951
Amount needed for 20% down payment: $33,842
Average monthly mortgage with 20% down payment: $895

Missouri

Average home value (January 2024): $235,779
Amount needed for 10% down payment: $23,578
Average monthly mortgage with 10% down payment: $1,403
Amount needed for 15% down payment: $35,367
Average monthly mortgage with 15% down payment: $1,325
Amount needed for 20% down payment: $47,156
Average monthly mortgage with 20% down payment: $1,247

Montana

Average home value (January 2024): $442,685
Amount needed for 10% down payment: $44,269
Average monthly mortgage with 10% down payment: $2,635
Amount needed for 15% down payment: $66,403
Average monthly mortgage with 15% down payment: $2,488
Amount needed for 20% down payment: $88,537
Average monthly mortgage with 20% down payment: $2,342

Nebraska

Average home value (January 2024): $248,523
Amount needed for 10% down payment: $24,852
Average monthly mortgage with 10% down payment: $1,479
Amount needed for 15% down payment: $37,278
Average monthly mortgage with 15% down payment: $1,397
Amount needed for 20% down payment: $49,705
Average monthly mortgage with 20% down payment: $1,315

Nevada

Average home value (January 2024): $434,956
Amount needed for 10% down payment: $43,496
Average monthly mortgage with 10% down payment: $2,589
Amount needed for 15% down payment: $65,243
Average monthly mortgage with 15% down payment: $2,445
Amount needed for 20% down payment: $86,991
Average monthly mortgage with 20% down payment: $2,301

New Hampshire

Average home value (January 2024): $463,760
Amount needed for 10% down payment: $46,376
Average monthly mortgage with 10% down payment: $2,760
Amount needed for 15% down payment: $69,564
Average monthly mortgage with 15% down payment: $2,607
Amount needed for 20% down payment: $92,752
Average monthly mortgage with 20% down payment: $2,453

New Jersey

Average home value (January 2024): $513,054
Amount needed for 10% down payment: $51,305
Average monthly mortgage with 10% down payment: $3,053
Amount needed for 15% down payment: $76,958
Average monthly mortgage with 15% down payment: $2,884
Amount needed for 20% down payment: $102,611
Average monthly mortgage with 20% down payment: $2,714

New Mexico

Average home value (January 2024): $291,959
Amount needed for 10% down payment: $29,196
Average monthly mortgage with 10% down payment: $1,738
Amount needed for 15% down payment: $43,794
Average monthly mortgage with 15% down payment: $1,641
Amount needed for 20% down payment: $58,392
Average monthly mortgage with 20% down payment: $1,545

New York

Average home value (January 2024): $425,053
Amount needed for 10% down payment: $42,505
Average monthly mortgage with 10% down payment: $2,530
Amount needed for 15% down payment: $63,758
Average monthly mortgage with 15% down payment: $2,389
Amount needed for 20% down payment: $85,011
Average monthly mortgage with 20% down payment: $2,249

North Carolina

Average home value (January 2024): $319,721
Amount needed for 10% down payment: $31,972
Average monthly mortgage with 10% down payment: $1,903
Amount needed for 15% down payment: $47,958
Average monthly mortgage with 15% down payment: $1,797
Amount needed for 20% down payment: $63,944
Average monthly mortgage with 20% down payment: $1,691

North Dakota

Average home value (January 2024): $249,280
Amount needed for 10% down payment: $24,928
Average monthly mortgage with 10% down payment: $1,484
Amount needed for 15% down payment: $37,392
Average monthly mortgage with 15% down payment: $1,401
Amount needed for 20% down payment: $49,856
Average monthly mortgage with 20% down payment: $1,319

InfiniteImpactStudios / Getty Images/iStockphoto

Ohio

Average home value (January 2024): $215,107
Amount needed for 10% down payment: $21,511
Average monthly mortgage with 10% down payment: $1,280
Amount needed for 15% down payment: $32,266
Average monthly mortgage with 15% down payment: $1,209
Amount needed for 20% down payment: $43,021
Average monthly mortgage with 20% down payment: $1,138

Oklahoma

Average home value (January 2024): $196,835
Amount needed for 10% down payment: $19,684
Average monthly mortgage with 10% down payment: $1,171
Amount needed for 15% down payment: $29,525
Average monthly mortgage with 15% down payment: $1,106
Amount needed for 20% down payment: $39,367
Average monthly mortgage with 20% down payment: $1,041

Oregon

Average home value (January 2024): $488,012
Amount needed for 10% down payment: $48,801
Average monthly mortgage with 10% down payment: $2,904
Amount needed for 15% down payment: $73,202
Average monthly mortgage with 15% down payment: $2,743
Amount needed for 20% down payment: $97,602
Average monthly mortgage with 20% down payment: $2,582

Alex Potemkin / Getty Images/iStockphoto

Pennsylvania

Average home value (January 2024): $254,628
Amount needed for 10% down payment: $25,463
Average monthly mortgage with 10% down payment: $1,515
Amount needed for 15% down payment: $38,194
Average monthly mortgage with 15% down payment: $1,431
Amount needed for 20% down payment: $50,926
Average monthly mortgage with 20% down payment: $1,347

Rhode Island

Average home value (January 2024): $441,648
Amount needed for 10% down payment: $44,165
Average monthly mortgage with 10% down payment: $2,628
Amount needed for 15% down payment: $66,247
Average monthly mortgage with 15% down payment: $2,482
Amount needed for 20% down payment: $88,330
Average monthly mortgage with 20% down payment: $2,336

South Carolina

Average home value (January 2024): $285,275
Amount needed for 10% down payment: $28,528
Average monthly mortgage with 10% down payment: $1,698
Amount needed for 15% down payment: $42,791
Average monthly mortgage with 15% down payment: $1,603
Amount needed for 20% down payment: $57,055
Average monthly mortgage with 20% down payment: $1,509

South Dakota

Average home value (January 2024): $290,267
Amount needed for 10% down payment: $29,027
Average monthly mortgage with 10% down payment: $1,728
Amount needed for 15% down payment: $43,540
Average monthly mortgage with 15% down payment: $1,632
Amount needed for 20% down payment: $58,053
Average monthly mortgage with 20% down payment: $1,536

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Tennessee

Average home value (January 2024): $304,832
Amount needed for 10% down payment: $30,483
Average monthly mortgage with 10% down payment: $1,814
Amount needed for 15% down payment: $45,725
Average monthly mortgage with 15% down payment: $1,713
Amount needed for 20% down payment: $60,966
Average monthly mortgage with 20% down payment: $1,613

Texas

Average home value (January 2024): $297,525
Amount needed for 10% down payment: $29,753
Average monthly mortgage with 10% down payment: $1,771
Amount needed for 15% down payment: $44,629
Average monthly mortgage with 15% down payment: $1,672
Amount needed for 20% down payment: $59,505
Average monthly mortgage with 20% down payment: $1,574

Utah

Average home value (January 2024): $511,137
Amount needed for 10% down payment: $51,114
Average monthly mortgage with 10% down payment: $3,042
Amount needed for 15% down payment: $76,671
Average monthly mortgage with 15% down payment: $2,873
Amount needed for 20% down payment: $102,227
Average monthly mortgage with 20% down payment: $2,704

ErikaMitchell / Getty Images/iStockphoto

Vermont

Average home value (January 2024): $378,838
Amount needed for 10% down payment: $37,884
Average monthly mortgage with 10% down payment: $2,255
Amount needed for 15% down payment: $56,826
Average monthly mortgage with 15% down payment: $2,129
Amount needed for 20% down payment: $75,768
Average monthly mortgage with 20% down payment: $2,004

Virginia

Average home value (January 2024): $375,558
Amount needed for 10% down payment: $37,556
Average monthly mortgage with 10% down payment: $2,235
Amount needed for 15% down payment: $56,434
Average monthly mortgage with 15% down payment: $2,111
Amount needed for 20% down payment: $75,112
Average monthly mortgage with 20% down payment: $1,987

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Washington

Average home value (January 2024): $575,888
Amount needed for 10% down payment: $57,589
Average monthly mortgage with 10% down payment: $3,427
Amount needed for 15% down payment: $86,383
Average monthly mortgage with 15% down payment: $3,237
Amount needed for 20% down payment: $115,178
Average monthly mortgage with 20% down payment: $3,047

BackyardProduction / Getty Images/iStockphoto

West Virginia

Average home value (January 2024): $152,323
Amount needed for 10% down payment: $15,232
Average monthly mortgage with 10% down payment: $907
Amount needed for 15% down payment: $22,849
Average monthly mortgage with 15% down payment: $856
Amount needed for 20% down payment: $30,465
Average monthly mortgage with 20% down payment: $806

Wisconsin

Average home value (January 2024): $285,124
Amount needed for 10% down payment: $28,512
Average monthly mortgage with 10% down payment: $1,697
Amount needed for 15% down payment: $42,769
Average monthly mortgage with 15% down payment: $1,603
Amount needed for 20% down payment: $57,025
Average monthly mortgage with 20% down payment: $1,508

Paola Giannoni / Getty Images/iStockphoto

Wyoming

Average home value (January 2024): $331,028
Amount needed for 10% down payment: $33,103
Average monthly mortgage with 10% down payment: $1,970
Amount needed for 15% down payment: $49,654
Average monthly mortgage with 15% down payment: $1,861
Amount needed for 20% down payment: $66,206
Average monthly mortgage with 20% down payment: $1,751

Methodology: For this study, GOBankingRates analyzed the average single-family home value in each state (as sourced from the Zillow Home Value Index). Using the national 30-year fixed mortgage rate (as sourced from Federal Reserve Economic Data), the average mortgage cost was calculated. Mortgage rates were determined for down payments of 10%, 15%, and 20%. All data was collected and is up to date as of March 5, 2024.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: The Average Monthly Mortgage in Every State Based on Your Down Payment

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