The median monthly costs for U.S. homeowners with a mortgage rose to $2,035 in 2024, up from $1,960 in 2023 when adjusted for inflation, according to new data from the American Community Survey (ACS) released by the U.S. Census Bureau.
“One way we measure housing affordability is based on how much households spend on selected costs such as mortgage payments, insurance, taxes, utilities, and various fees,” said Jacob Fabina, a Census Bureau economist. “In 2024, the median percentage of income householders with a mortgage spent on these costs was 21.4%, which points to an increased burden on homeowners.”
The report showed that median monthly owner costs increased by 3.8% from 2023 to 2024. This rate outpaced the previous year’s increase of 3.0% between 2022 and 2023. The rise was mainly attributed to higher mortgage payments and insurance fees.
Homeowners with mortgages in California ($3,001), Hawaii ($2,937), New Jersey ($2,797), Massachusetts ($2,755), and the District of Columbia ($3,181) faced the highest median monthly costs among all states and the District.
In 2024, about 59.7% of owned homes had a monthly mortgage payment. The number of homes owned free and clear also grew; there were roughly 900,000 more such homes in 2024 than in the previous year—totaling about 35 million compared to 34.1 million in 2023.
Vermont (8.9%) and New Mexico (8.7%) saw some of the largest increases in homes owned without a mortgage between 2023 and 2024.
Some homeowners are also responsible for homeowners’ association (HOA) or condo fees. In total, around 21.6 million owned households paid either a condo or HOA fee in 2024 out of approximately 86.6 million owned households nationwide. The overall monthly median condo or HOA fee was $135; those with a mortgage paid a median fee of $120 per month while those without paid $184.
These fees varied by state: Nevada had the highest share of homeowners paying condo or HOA fees at 51%, followed by Florida at 44% and Arizona at 45%. Rhode Island (10%), South Dakota (10%), Wisconsin (10%), Maine (8%), and North Dakota (8%) had among the lowest shares.
Further details about HOA and condo fees can be found at Nearly a Quarter of Homeowners Paid Condo or HOA Fees in 2024 America Counts story: https://www.census.gov/library/stories/2025/09/nearly-quarter-homeowners-paid-condo-or-hoa-fees-in-2024.html
Costs have also risen for renters; median gross rent increased by 2.7% from $1,448 in 2023 to $1,487 in 2024 after adjusting for inflation. However, the share of income going toward rent remained unchanged at a median of 31%. States such as Delaware, Mississippi, Idaho, Vermont and Alabama recorded some of the largest percentage-point increases—6.5% or more—in median gross rent.
More information about renter costs is available in the Housing Costs: 2024 infographic: https://www.census.gov/library/visualizations/interactive/housing-costs-acs.html
On income trends, after accounting for inflation adjustments since last year’s survey period:
– Median household income rose in twenty-nine states.
– Twenty-one states along with D.C., and Puerto Rico saw no significant change.
– Massachusetts, New Jersey and Maryland posted the highest state-level incomes; D.C.’s figure was $109,707—the nation’s highest.
– Arkansas, Louisiana, Mississippi and West Virginia reported the lowest incomes.
Income inequality—as measured by the Gini index—increased only in North Carolina but decreased across nine other states including Georgia and Iowa during this period.
Regarding poverty rates:
– Thirteen states plus Puerto Rico experienced declines.
– North Dakota and D.C. saw increases.
– Most other states did not see significant changes.
State poverty rates ranged from a low of about seven percent up to nearly nineteen percent this year.
Three major metropolitan areas—Atlanta; Riverside-San Bernardino; Tampa—had statistically significant drops in their poverty rates between last year’s survey period and now.
For health insurance coverage:
– Eighteen states plus D.C. saw an increase in their uninsured rates while two states experienced declines since last year.
– Among working-age adults (19–64), seventeen states plus D.C. saw increases while three recorded decreases.
– For children under nineteen years old: nineteen states’ uninsured rates went up; only one went down.
All statistics released today can be accessed via data.census.gov: https://data.census.gov/
Additional context on these estimates is provided through user notes as well as blog posts like Understanding the 2024 American Community Survey 1-Year Estimates: https://www.census.gov/newsroom/blogs/random-samplings/2025/09/understanding-the-acs.html
The Census Bureau will release further ACS statistics over coming months—including supplemental estimates for one-year periods ending in late September as well as five-year aggregated figures spanning from January 1st to December 31st of each included year.
