California has the highest average monthly mortgage in the country—West Virginia has the lowest
This article originally appeared on NBC New York
By Celia Fernandez
This week, bill pay service doxo released its annual Household Bill Pay report, which breaks down how much the average U.S. household spends on essentials, including auto loans, utilities, health insurance, rent and mortgages. The average amount consumers spend per year on household bills grew 4% year over year.
The doxo report found that 40% of households in the U.S. have to pay a monthly mortgage and that the average monthly payment is $1,402. It was the most expensive common household bill, with Americans spending an average of $885,000,000,000 a year on it.
Doxo used U.S. Census mortgage data, inclusive of taxes and homeowners insurance, to rank the states with the highest and lowest average monthly mortgage payments.
The U.S. state with the highest average monthly mortgage: California
Not only is California the state with the second-highest average rent payment, but it also boasts the highest average monthly mortgage payment, according to doxo’s report.
The average monthly mortgage in the West Coast state is $2,576, which is $1,174 above the national average. The average cost of bills in California is 38.7% above the national average, according to a 2023 doxo report.
These numbers show that California is indeed one of the most expensive states to live in.
The cost of living in California is 38% higher than the national average and housing is 97% higher than the national average, according to RentCafe.