In short
At the Freddie Mac average rate for the week of October 15, 2026 (7.4% on a 30-year fixed loan, 6.71% on a 15-year), a home at the US median value of $332,700 bought with 20% down costs about $2,233 a month: $1,843 of principal and interest, $261 of property tax and $129 of homeowners insurance. On each state's median home, the payment runs from $1,117 in West Virginia to $5,227 in Hawaii.
Monthly payment on each state's median home
| State | Median home value | Principal and interest | Property tax | Insurance | Monthly payment |
|---|---|---|---|---|---|
| Alabama | $233,300 | $1,292 | $74 0.38% | $155 | $1,521 |
| Alaska | $376,500 | $2,085 | $348 1.11% | $107 | $2,541 |
| Arizona | $426,000 | $2,360 | $170 0.48% | $98 | $2,628 |
| Arkansas | $215,600 | $1,194 | $99 0.55% | $142 | $1,435 |
| California | $759,500 | $4,207 | $443 0.7% | $135 | $4,785 |
| Colorado | $574,600 | $3,183 | $230 0.48% | $212 | $3,624 |
| Connecticut | $396,900 | $2,198 | $599 1.81% | $159 | $2,956 |
| Delaware | $371,600 | $2,058 | $155 0.5% | $94 | $2,307 |
| Florida | $396,900 | $2,198 | $251 0.76% | $268 | $2,717 |
| Georgia | $343,300 | $1,902 | $220 0.77% | $136 | $2,258 |
| Hawaii | $875,900 | $4,852 | $197 0.27% | $178 | $5,227 |
| Idaho | $446,400 | $2,473 | $182 0.49% | $103 | $2,758 |
| Illinois | $280,700 | $1,555 | $470 2.01% | $130 | $2,155 |
| Indiana | $243,500 | $1,349 | $150 0.74% | $122 | $1,621 |
| Iowa | $227,300 | $1,259 | $263 1.39% | $134 | $1,656 |
| Kansas | $238,700 | $1,322 | $257 1.29% | $191 | $1,770 |
| Kentucky | $226,000 | $1,252 | $141 0.75% | $127 | $1,520 |
| Louisiana | $223,200 | $1,236 | $102 0.55% | $203 | $1,542 |
| Maine | $341,900 | $1,894 | $291 1.02% | $96 | $2,280 |
| Maryland | $436,300 | $2,417 | $353 0.97% | $127 | $2,896 |
| Massachusetts | $607,400 | $3,364 | $542 1.07% | $154 | $4,060 |
| Michigan | $254,200 | $1,408 | $265 1.25% | $98 | $1,770 |
| Minnesota | $344,600 | $1,909 | $293 1.02% | $155 | $2,356 |
| Mississippi | $186,500 | $1,033 | $112 0.72% | $160 | $1,305 |
| Missouri | $254,400 | $1,409 | $180 0.85% | $166 | $1,755 |
| Montana | $425,400 | $2,356 | $255 0.72% | $152 | $2,763 |
| Nebraska | $263,100 | $1,457 | $327 1.49% | $203 | $1,987 |
| Nevada | $455,500 | $2,523 | $178 0.47% | $90 | $2,791 |
| New Hampshire | $458,800 | $2,541 | $635 1.66% | $114 | $3,290 |
| New Jersey | $496,000 | $2,747 | $872 2.11% | $133 | $3,753 |
| New Mexico | $279,900 | $1,550 | $163 0.7% | $121 | $1,835 |
| New York | $449,800 | $2,491 | $581 1.55% | $102 | $3,174 |
| North Carolina | $333,000 | $1,844 | $183 0.66% | $110 | $2,138 |
| North Dakota | $266,100 | $1,474 | $220 0.99% | $161 | $1,854 |
| Ohio | $239,800 | $1,328 | $262 1.31% | $103 | $1,693 |
| Oklahoma | $222,100 | $1,230 | $148 0.8% | $210 | $1,589 |
| Oregon | $497,500 | $2,756 | $336 0.81% | $96 | $3,188 |
| Pennsylvania | $277,600 | $1,538 | $301 1.3% | $85 | $1,923 |
| Rhode Island | $455,700 | $2,524 | $459 1.21% | $167 | $3,150 |
| South Carolina | $299,500 | $1,659 | $120 0.48% | $122 | $1,900 |
| South Dakota | $289,600 | $1,604 | $256 1.06% | $150 | $2,009 |
| Tennessee | $332,600 | $1,842 | $139 0.5% | $140 | $2,121 |
| Texas | $313,200 | $1,735 | $389 1.49% | $187 | $2,311 |
| Utah | $545,200 | $3,020 | $236 0.52% | $87 | $3,343 |
| Vermont | $352,800 | $1,954 | $467 1.59% | $100 | $2,522 |
| Virginia | $403,500 | $2,235 | $245 0.73% | $107 | $2,587 |
| Washington | $602,200 | $3,336 | $406 0.81% | $109 | $3,851 |
| West Virginia | $170,800 | $946 | $75 0.53% | $95 | $1,117 |
| Wisconsin | $294,700 | $1,632 | $349 1.42% | $100 | $2,081 |
| Wyoming | $339,500 | $1,881 | $161 0.57% | $139 | $2,181 |
State median value of owner-occupied homes (Census ACS 2024, 1-year), 20% down, 30-year fixed loan at 7.4% (Freddie Mac PMMS, week of October 15, 2026); property tax at the state's effective rate (ACS 2020-2024); insurance at the state median premium (FIO, 2022). No HOA fee and no mortgage insurance. County rates: property tax by county.
Principal and interest by loan amount
| Loan | 30 years at 7.4% | 15 years at 6.71% |
|---|---|---|
| $200,000 | $1,385 | $1,765 |
| $300,000 | $2,077 | $2,648 |
| $400,000 | $2,770 | $3,531 |
| $500,000 | $3,462 | $4,413 |
| $750,000 | $5,193 | $6,620 |
Freddie Mac Primary Mortgage Market Survey averages for the week of October 15, 2026. Freddie Mac computes them from the rates on loan applications submitted to it that week: conventional, conforming home purchase loans for borrowers with good or excellent credit and 20% down, on owner-occupied single-family homes.
Before you borrow
Questions
What is PITI?
Principal, interest, taxes and insurance: the four parts of a monthly mortgage payment when the lender collects property tax and homeowners insurance through an escrow account. HOA fees and mortgage insurance, when you have them, come on top; the FHA Handbook 4000.1 counts both in the total mortgage payment used for its qualifying ratios.
What is the average mortgage rate this week?
Freddie Mac's Primary Mortgage Market Survey for the week of October 15, 2026: 7.4% for a 30-year fixed-rate mortgage and 6.71% for a 15-year. It is a national average of the rates on loan applications submitted to Freddie Mac that week (conventional, conforming purchase loans, good or excellent credit, 20% down); your own rate depends on your credit, down payment and points.
What is the monthly payment on a $400,000 mortgage?
$2,770 of principal and interest on a 30-year loan at 7.4%, or $3,531 on a 15-year loan at 6.71%. Property tax, insurance and any HOA fee are added on top.
Does the calculator include PMI?
Only if you enter it. Mortgage insurance depends on the loan type, the down payment and the lender (or, for FHA, on HUD’s premium schedule), and Payotte has no official average to apply: enter the monthly amount from your loan estimate.
General information drawn from the official sources cited and dated on this page. It is not legal, tax or financial advice: for your own situation, ask a licensed professional.
Sources
- Freddie Mac, Primary Mortgage Market Survey (PMMS), U.S. weekly averages, 30-year and 15-year fixed-rate mortgages, week of October 15, 2026 (read on October 20, 2026).
- U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, tables B25103 (Mortgage Status by Median Real Estate Taxes Paid), B25077 (Median Value) and B25003 (Tenure)
- U.S. Department of the Treasury, Federal Insurance Office, Supporting Underlying Metrics for Analyses of U.S. Homeowners Insurance Markets, 2018-2022 (NAIC Property and Casualty Market Intelligence data)
- U.S. Census Bureau, American Community Survey 2024 1-year, tables B25142 (Monthly Homeowners Association and/or Condominium Fee) and B25143 (Median Monthly Homeowners Association and/or Condominium Fee by Mortgage Status)
- U.S. Census Bureau, ACS 2024 1-year, table B25077 (Median Value), state medians