Metro: Boston-Cambridge-Newton, MA-NH
Median price of single-family house: $400,900
Monthly payment average mortgage payment in houston median-priced single-family house: $2,450
San Diego, California
Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Median price of single-family house: $221,300
Monthly payment on median-priced single-family house: $1,350
Here's how much you'd have to pay each month to own a home in 15 major US cities
When you're figuring out how much home you can afford, a good rule of thumb is to make sure you don't spend more than 28 percent of your gross income on housing in any given month.
You'll want to keep in mind that monthly payments encompass more than just the mortgage: They also include interest, property taxes and insurance on the home.
To give you an idea of just how much you'd have to pay per month to own a home in major U.S. cities, CNBC rounded up data from a 2017 Harvard housing report. The report determined the monthly payment on median-priced single-family houses, assuming a five percent down payment with property taxes average mortgage payment in houston 1.25 percent, property insurance of 0.25 percent and mortgage insurance of 0.5 percent.
Here's what you should expect to pay per month if you're thinking about settling down in a major U.S. city. Cities are listed in ascending order of monthly house payments.
Metro: New York-Newark-Jersey City, NY-NJ-PA
Median price of single-family house: $388,200
Monthly payment on median-priced single-family house: average mortgage payment in houston, Massachusetts
Your Privacy Rights
We and our partners process data to:
Actively scan device characteristics for identification. Use precise geolocation data. Store and/or access information on a device. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised average mortgage payment in houston profile. Jp morgan chase bank customer service personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners (vendors)