Median U.S. Home Price In Some Sates Requires 17 Monthly Workdays for Mortgage Payment -- Market Talk

Dow Jones2025-04-02

1112 ET - The U.S. median home price is $412,000, requiring 10 workdays monthly to afford the mortgage, says Realtor.com, but for residents in some states, the number of workdays required can go up to 17 days. Hawaii's $796,947 median demands 17 days for a $5,222 payment, while California--$4,773--and Montana--$613,275--need 15 days each, driven by demand and rising costs in places like Bozeman. Conversely, the Midwest and Southeast offer relief. West Virginia--$247,000--and Ohio--$259,450--require just seven and six days, respectively. Other affordable states--Kansas, Missouri, Indiana, Illinois, and Michigan--also average a week's work for mortgage payments, highlighting stark regional disparities in housing affordability. (chris.wack@wsj.com)

(END) Dow Jones Newswires

April 02, 2025 11:13 ET (15:13 GMT)

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