PR Newswire·Nov 11, 2026, 6:00 AM ET

Buying a Median-Priced Home Would Cost Typical Mortgage Holders About $1,100 More a Month

Higher mortgage rates & elevated home prices have raised the estimated principal-and-interest payment for a median-priced U.S. home by 85.3% compared to what current mortgage holders pay.
A typical U.S. mortgage holder would need an additional $1,100 per month to buy a median-priced home at the current 7.32% rate, increasing their monthly payment from $1,332 to $2,468.
This payment increase represents a 15.6 percentage-point rise in the share of household income spent on housing.
Portland, Maine, faces the steepest payment jump at 167.0%, followed by San Jose (164.8%) & Los Angeles (161.9%).
Pittsburgh has the smallest payment increase among the 100 largest metros at 43.3%, with Baltimore (45.0%) & Buffalo (46.1%) following closely.
In high-priced markets, larger mortgage balances & lower existing rates on older loans create a significant "lock-in" effect that discourages homeowners from moving.
Lower home prices in markets like San Antonio help narrow the payment gap, even when mortgage rates remain high.
A rate decline to 6.0% would allow 50.2% of households to afford a median-priced home, yet the monthly payment would still be 61.7% higher than current mortgage payments.
Even if rates returned to the typical 4.0% outstanding loan rate, the new home payment would remain 29% higher due to increased home prices since existing loans were originated.
The analysis uses September 2026 median listing prices, a 7.32% mortgage rate, & a national median down payment share of 14.3%.