The U.S. Census Bureau has reported that the median monthly costs for homeowners with a mortgage rose to $2,035 in 2024, up from $1,960 (adjusted for inflation) in 2023. These figures come from the latest 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.”
The increase in owner costs from 2023 to 2024 was 3.8%, compared to a 3.0% rise between 2022 and 2023. The main factors contributing to this increase were higher mortgage payments and insurance expenses.
States with the highest median monthly homeowner costs included California ($3,001), Hawaii ($2,937), New Jersey ($2,797), Massachusetts ($2,755), and the District of Columbia ($3,181).
In terms of homeownership status, about 59.7% of owned homes had a monthly mortgage payment in 2024. There was also an increase in homes owned outright; roughly 900,000 more homes were paid off in full compared to the previous year—rising from about 34.1 million in 2023 to approximately 35 million in 2024.
Vermont (8.9%) and New Mexico (8.7%) saw two of the largest increases among states in homes owned free and clear between the two years.
Some owners are responsible for additional fees related to homeowners’ associations or condominiums. In total, around 21.6 million out of approximately 86.6 million owned households paid either condo or HOA fees during the year. The overall median fee stood at $135 per month; those with mortgages paid a median fee of $120 while those without mortgages paid $184.
The proportion of households paying these fees varied by state: Nevada had the highest share at 51%, followed by Florida at 44% and Arizona at 45%. On the other hand, Rhode Island (10%), South Dakota (10%), Wisconsin (10%), Maine (8%), and North Dakota (8%) had some of the lowest shares.
More details about HOA and condo fee distribution 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-of-homeowners-paid-condo-or-hoa-fees-in-2024.html
Renters also experienced rising housing costs over this period; median gross rent—including utilities—increased by about $39 from $1,448 in inflation-adjusted dollars for 2023 to $1,487 for this year—a growth rate of roughly 2.7%. Despite this increase in rent amounts nationwide during this time frame, renters’ share of income devoted to rent remained unchanged at a median value of about one-third (31%).
Several states including Delaware, Mississippi, Idaho, Vermont and Alabama experienced some of the largest jumps—at least six-and-a-half percentage points—in their respective median gross rents over this period.
Additional information regarding renter expenses is available through an infographic released by Census: https://www.census.gov/library/visualizations/2025/comm/housing-costs-acs.html
Median household incomes increased after adjusting for inflation across twenty-nine states compared with last year’s results; however twenty-one states plus D.C., as well as Puerto Rico showed no statistically significant change according to ACS data released today.
Massachusetts along with New Jersey and Maryland reported among highest household incomes nationally—with no significant differences detected between them—while D.C.’s figure reached $109,707 making it highest overall.
Arkansas together with Louisiana Mississippi & West Virginia recorded lowest household incomes among all states.
Income inequality measured using Gini index rose only within North Carolina but declined across nine others: Georgia Iowa Massachusetts Nebraska New Jersey Ohio Oregon South Dakota & Wisconsin between survey periods.
Regarding poverty rates: thirteen states alongside Puerto Rico observed declines since last year whereas just one state—North Dakota—and D.C., saw increases; remaining thirty-six showed little change.
State-level poverty ranged from lows near seven percent up toward nearly nineteen percent.
Three major metropolitan areas saw notable drops—the Atlanta area fell from eleven percent down ten percent; Riverside-San Bernardino went twelve-point-one down eleven percent; Tampa dropped twelve down eleven percent too.
On health coverage: eighteen states plus D.C., registered higher uninsured rates since last survey cycle while only two posted declines.
For working-age adults aged nineteen through sixty-four specifically seventeen states plus D.C., faced rising uninsured rates versus three where they fell.
Children under nineteen saw increases across nineteen different states but decreases occurred only once elsewhere during same interval.
All statistics referenced here are accessible via data.census.gov: https://data.census.gov/
Further explanations concerning methodology or recent estimate changes can be found both within an official user note: https://www.census.gov/programs-surveys/acs/news/user-notes.html
and detailed Random Samplings blog post Understanding the American Community Survey Estimates: https://www.census.gov/newsroom/blogs/random-samplings/2025/09/understanding-the-acs-estimates.html
The Census Bureau plans further releases including updated supplemental estimates later this year along with five-year summary statistics covering results through end-of-2024.
