How much does a mortgage cost in each state?
The single biggest driver of mortgage payment differences between states is the home price itself — not the interest rate, which is the same nationwide, or even the property tax rate, which varies but has a smaller dollar impact. A buyer in California, where the median home costs $854,000, pays roughly 3.1× what a buyer in West Virginia pays each month, even though both are financing at the same 6.43% rate.
Property taxes do shift the ranking at the margins. New Jersey and Connecticut have relatively moderate home prices but the country's highest effective property tax rates (2.11% and 2.15%), which adds several hundred dollars a month on top of principal and interest. Hawaii is the opposite case — the second-highest home price in the country, but the lowest property tax rate (0.27%), which keeps its total payment below California's despite a similar loan size.
The 10 most expensive states for a mortgage payment
California, Hawaii, Massachusetts, New York, and the District of Columbia lead the list, all with estimated payments above $3,900 a month. Washington, New Jersey, and Colorado follow closely behind. In every one of these states, the home price itself — not taxes or insurance — is responsible for the bulk of the payment.
The 10 most affordable states for a mortgage payment
West Virginia, Louisiana, Oklahoma, Arkansas, and Mississippi round out the most affordable end of the table, all with estimated payments under $1,700 a month — less than half the estimated California payment for a comparable 20%-down, 30-year loan.
Why your actual payment may differ
This table uses a consistent set of assumptions across every state so the numbers are comparable to each other — it is not a quote. Your actual payment depends on your specific home price, credit score, loan type, down payment, and insurance provider. Use the mortgage calculator to run your own numbers with your actual home price, rate, and term.