County Median Home Prices and Monthly Mortgage Payment

Median Home Values

The interactive map above provides a visual representation of the median home prices for each county. Employing the House Price Index growth data from FHFA and integrating it with the latest housing statistics derived from the American Community Survey (2022 ACS estimates), we have computed median home values for 3,110 counties and county-equivalents across the United States. It's important to note that these home values reflect the overall worth of all homes in a given area, rather than focusing solely on home sales data.

Presented below are the counties that ranked highest in terms of median home values during the first quarter of 2024, with a monthly mortgage payment surpassing $7,000:

• Nantucket County, MA: $1,705,210

• San Mateo County, CA: $1,701,860

• Santa Clara County, CA: $1,664,410

• Marin County, CA: $1,584,980

• San Francisco County, CA: $1,575,700

• Teton County, Wyoming: $1,311,740

The interplay between home prices and mortgage rates significantly influences the magnitude of a mortgage payment. Although mortgage rates started to fall at the end of 2023, rates continue to remain higher than the previous year. Notably, in Santa Clara County, the monthly mortgage payment has surged by nearly $1,230 compared to the previous year.

Nevertheless, the following counties remain the most affordable areas across the country:

• King County, Texas: $31,700

• Todd County, South Dakota: $41,800

• McDowell County, West Virginia: $58,640

• Cochran County, Texas: $62,560

• Knox County, Texas: $65,920

To assess the specific changes in your county, utilize the tool below. It enables you to gauge the variance in the monthly mortgage payment for a 30-year fixed-rate mortgage compared to the same period the previous year.

Data

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