Is Your Mortgage Payment Below The Texas Average?
House payments can eat up a big part of the monthly budget, but some states are cheaper than others. Believe it or not, Texas has among the highest mortgages in the U.S.
The national average house payment is $1,159 per month and homeowners in Texas are paying pretty close to that, on average. Even though we're paying near the average, Texas lands well above the middle among states. We're in the top twenty, according to MSN.
The average monthly mortgage payment in every state:
Average monthly mortgage payment: $1,137
Average monthly household income: $7,018
Difference between state and national average mortgage payment: -$22
LendingTree also looked at household income before the coronavirus crisis hit, and said states with the highest relative mortgage payments will probably struggle because of changes to income during the pandemic. There are some mortgage relief programs to check out if you've been hit with lower paychecks, and that could be a lifesaver.
And the most expensive state? I would think it would be New York or California, and those make the top three. The highest mortgage payers are in Hawaii, with an average of $1780 per month. The average household income there is $8,314.
Now, back to work! The mortgage is depending on it.