The U.S. Census Bureau reported that the median monthly owner costs for homeowners with a mortgage increased to $2,035 in 2024, up from $1,960 (inflation-adjusted) in 2023. These figures are based on new American Community Survey (ACS) 1-year estimates.
“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.”
From 2023 to 2024, median monthly owner costs rose by 3.8%, which is higher than the previous year’s increase of 3.0%. The rise was mainly due to higher mortgage and insurance expenses.
States with the highest median monthly costs for homeowners with a mortgage included California ($3,001), Hawaii ($2,937), New Jersey ($2,797), Massachusetts ($2,755), and the District of Columbia ($3,181).
In 2024, more than half (59.7%) of owned homes had a monthly mortgage payment. The number of homes owned free and clear—without a mortgage—increased by about 900,000 from the previous year to reach approximately 35 million.
Vermont (8.9%) and New Mexico (8.7%) saw two of the largest increases in homes owned free and clear between 2023 and 2024.
About one-quarter of homeowners paid either condominium or homeowner association (HOA) fees in 2024; roughly 21.6 million out of about 86.6 million owned households made such payments. The overall national median condo or HOA fee was $135 per month but varied depending on whether there was an active mortgage: those with mortgages paid a median fee of $120 per month while those without paid $184.
The share of households paying these fees differed across states: Nevada had the highest proportion at 51%, followed by Florida at 44% and Arizona at 45%. States like Rhode Island, South Dakota, Wisconsin (each at 10%), Maine (8%), and North Dakota (8%) had among the lowest shares.
According to ACS data released today at https://data.census.gov/, rental costs also increased over the past year. Median gross rent—which includes rent plus utilities—rose by 2.7% from $1,448 in inflation-adjusted dollars in 2023 to $1,487 in 2024; however, renters’ median percentage of income spent on rent remained unchanged at 31%.
Some states experienced notable increases in rent: Delaware, Mississippi, Idaho, Vermont and Alabama each saw their median gross rents climb by more than six percentage points compared to last year.
Income trends showed that after adjusting for inflation, median household income went up in twenty-nine states between 2023 and 2024; twenty-one states along with D.C. and Puerto Rico saw no significant change. Massachusetts, New Jersey and Maryland recorded some of the highest state-level incomes; D.C.’s figure stood out nationally at $109,707.
The Gini index—a measure of income inequality—increased only in North Carolina but declined in nine other states during this period.
Regarding poverty rates for this period: thirteen states plus Puerto Rico experienced decreases while one state—North Dakota—and D.C., saw increases; thirty-six states showed no significant change overall.
For health insurance coverage from 2023 to 2024: uninsured rates increased in eighteen states plus D.C., while only two states recorded declines among all residents; similar trends were observed among working-age adults and children under nineteen years old.
More details can be found through official resources such as https://www.census.gov/newsroom/blogs/random-samplings/2025/09/understanding-acs-1-year-estimates.html or via additional reports scheduled for release later this year.
