Key Takeaways
- Realtor.com reports that U.S. median home prices rose last month, with March asking prices averaging $424,900. That’s up $12,900 from February’s median price.
- Providing only minor relief for home buyers, 30-year mortgage rates slipped in March, with rates averaging 6.73% vs. 6.77% in February.
- Assuming a 20% down payment, that translates into a national average mortgage payment of $2,200 in February.
- California metros continue to be the priciest, with the average monthly payment in the San Jose market being $7,162. Meanwhile, greater Pittsburgh has the lowest average payment at $1,234.
- Eleven of the 50 largest metros saw their average monthly payment fall in March. You can see averages for every market in our tables below.
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Median Home Prices Rose, While Mortgage Rates Dipped
For a second consecutive month, median home prices in America rose in March. According to Realtor.com’s latest monthly report on the U.S. home buying market, March’s median home price was $424,900. That’s up $12,900 from February. But it’s still about $20,000 cheaper than the June 2024 median of $445,000.
March mortgage rates meanwhile came down, but only slightly. According to Zillow rate quotes for new purchase mortgages, the average 30-year rate across March was 6.73%—down a mild 4 basis points from February’s 6.77% average rate.
Assuming a 20% down payment, the higher house prices rates in March resulted in a national average monthly mortgage payment (principal and interest only) that was $58 more expensive than the typical February payment. But the monthly increase would have been much worse had mortgage rates also climbed in March.
Monthly Payments Vary Widely Across the Country
Of course, home prices and mortgage rates vary by state and market, so mortgage payments for someone in Pittsburgh will be wildly different than for someone buying in the Bay Area. Here are some key March findings from our analysis of the 50 largest metros:
- The four most expensive markets were all in California, with the San Jose area topping the list at a $7,162 average monthly payment.
- The highest-cost metro outside of California was again Boston, at $4,502 per month, followed by New York at $4,009 and Seattle at $3,876.
- Pittsburgh once again earns “most affordable” honors, with the average mortgage payment coming in at $1,234 in March. Greater Detroit comes in second at $1,270.
- The average payment declined in 11 of the 50 largest metros in March, with the Miami area enjoying the biggest monthly decrease at $22.
To compare all 50 metropolitan areas, we’ve listed the median home prices, average March mortgage rate, and typical monthly payments below, organized by region.
The Northeast
| Metro Area | Median Home Price (Mar 2025) | Average 30-Year Mortgage Rate (Mar 2025) | March Monthly Payment With 20% Down | Change vs. Feb 2025 |
|---|---|---|---|---|
| Boston-Cambridge-Newton, Mass.-N.H. | $869,000 | 6.73% | $4,502 | $134 |
| New York-Newark-Jersey City, N.Y.-N.J. | $780,000 | 6.66% | $4,009 | $82 |
| Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. | $604,900 | 6.82% | $3,160 | $129 |
| Providence-Warwick, R.I.-Mass. | $549,900 | 6.78% | $2,861 | $74 |
| Hartford-West Hartford-East Hartford, Conn. | $449,900 | 6.75% | $2,335 | $77 |
| Baltimore-Columbia-Towson, Md. | $374,900 | 6.79% | $1,953 | $130 |
| Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | $359,000 | 6.70% | $1,854 | $34 |
| Buffalo-Cheektowaga, N.Y. | $260,000 | 6.66% | $1,336 | $56 |
| Pittsburgh, Pa. | $239,000 | 6.70% | $1,234 | $44 |
The South
| Metro Area | Median Home Price (Mar 2025) | Average 30-Year Mortgage Rate (Mar 2025) | March Monthly Payment With 20% Down | Change vs. Feb 2025 |
|---|---|---|---|---|
| Nashville-Davidson-Murfreesboro-Franklin, Tenn. | $535,000 | 6.71% | $2,766 | $13 |
| Miami-Fort Lauderdale-West Palm Beach, Fla. | $512,000 | 6.68% | $2,638 | -$22 |
| Austin-Round Rock-San Marcos, Texas | $510,000 | 6.71% | $2,635 | $40 |
| Raleigh-Cary, N.C. | $445,000 | 6.71% | $2,299 | $36 |
| Richmond, Va. | $444,900 | 6.75% | $2,308 | $69 |
| Charlotte-Concord-Gastonia, N.C.-S.C. | $425,000 | 6.71% | $2,196 | $18 |
| Dallas-Fort Worth-Arlington, Texas | $423,503 | 6.71% | $2,188 | $25 |
| Orlando-Kissimmee-Sanford, Fla. | $419,800 | 6.68% | $2,163 | -$1 |
| Atlanta-Sandy Springs-Roswell, Ga. | $400,000 | 6.73% | $2,071 | -$3 |
| Virginia Beach-Chesapeake-Norfolk, Va.-N.C. | $399,966 | 6.75% | $2,075 | $29 |
| Tampa-St. Petersburg-Clearwater, Fla. | $399,900 | 6.68% | $2,060 | -$1 |
| Jacksonville, Fla. | $399,000 | 6.68% | $2,056 | $51 |
| Houston-Pasadena-The Woodlands, Texas | $365,000 | 6.71% | $1,886 | $24 |
| San Antonio-New Braunfels, Texas | $334,990 | 6.71% | $1,731 | $30 |
| Memphis, Tenn.-Miss.-Ark. | $334,000 | 6.71% | $1,727 | $21 |
| Louisville/Jefferson County, Ky.-Ind. | $320,000 | 6.72% | $1,655 | $41 |
| Oklahoma City, Okla. | $317,950 | 6.76% | $1,651 | $9 |
| Birmingham, Ala. | $285,000 | 6.74% | $1,478 | -$8 |
The Midwest
| Metro Area | Median Home Price (Mar 2025) | Average 30-Year Mortgage Rate (Mar 2025) | March Monthly Payment With 20% Down | Change vs. Feb 2025 |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, Minn.-Wis. | $445,900 | 6.75% | $2,314 | $47 |
| Kansas City, Mo.-Kan. | $395,500 | 6.75% | $2,052 | $75 |
| Grand Rapids-Wyoming-Kentwood, Mich. | $385,000 | 6.74% | $1,995 | -$7 |
| Milwaukee-Waukesha, Wis. | $375,000 | 6.76% | $1,948 | -$5 |
| Chicago-Naperville-Elgin, Ill.-Ind. | $360,000 | 6.75% | $1,868 | $49 |
| Columbus, Ohio | $360,000 | 6.74% | $1,865 | $43 |
| Cincinnati, Ohio-Ky.-Ind. | $335,000 | 6.74% | $1,736 | $42 |
| Indianapolis-Carmel-Greenwood, Ind. | $315,000 | 6.74% | $1,634 | $71 |
| St. Louis, Mo.-Ill. | $289,900 | 6.75% | $1,504 | $62 |
| Cleveland, Ohio | $249,000 | 6.74% | $1,290 | $30 |
| Detroit-Warren-Dearborn, Mich. | $245,000 | 6.74% | $1,270 | $21 |
The West
| Metro Area | Median Home Price (Mar 2025) | Average 30-Year Mortgage Rate (Mar 2025) | March Monthly Payment With 20% Down | Change vs. Feb 2025 |
|---|---|---|---|---|
| San Jose-Sunnyvale-Santa Clara, Calif. | $1,388,944 | 6.69% | $7,162 | $410 |
| Los Angeles-Long Beach-Anaheim, Calif. | $1,179,000 | 6.69% | $6,080 | $288 |
| San Diego-Chula Vista-Carlsbad, Calif. | $950,000 | 6.69% | $4,899 | -$18 |
| San Francisco-Oakland-Fremont, Calif. | $950,000 | 6.69% | $4,899 | $241 |
| Seattle-Tacoma-Bellevue, Wash. | $750,000 | 6.71% | $3,876 | $49 |
| Sacramento-Roseville-Folsom, Calif. | $625,000 | 6.69% | $3,223 | $19 |
| Riverside-San Bernardino-Ontario, Calif. | $599,999 | 6.69% | $3,094 | -$9 |
| Portland-Vancouver-Hillsboro, Ore.-Wash. | $599,900 | 6.73% | $3,105 | $49 |
| Denver-Aurora-Centennial, Colo. | $585,000 | 6.72% | $3,025 | $55 |
| Phoenix-Mesa-Chandler, Ariz. | $520,000 | 6.73% | $2,694 | $14 |
| Las Vegas-Henderson-North Las Vegas, Nev. | $469,945 | 6.76% | $2,441 | -$6 |
| Tucson, Ariz. | $399,000 | 6.73% | $2,067 | $6 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.
