Good Investment

The Cost of Homeownership

What it costs each month to buy in your neighborhood, then and now

Affordability is the question in every big city right now, so here is what buying a home costs each month, neighborhood by neighborhood, in 2019 and in 2025.

Buying the average Brooklyn home takes $3,205 more a month than in 2019, the median LA County home $2,135 more and the median DC home $1,433 more. Prices went up, and so did mortgage rates. Pick a city to find your neighborhood.

Housing affordability by city

Brooklyn+$3,205a month more than in 2019Monthly mortgage payment on the average sale: $4,192 in 2019, $7,397 in 2025Find your neighborhoodLos Angeles County+$2,135a month more than in 2019Monthly mortgage payment on the median sale: $2,275 in 2019, $4,410 in 2025Find your neighborhoodWashington, DC+$1,433a month more than in 2019Monthly mortgage payment on the median sale: $2,271 in 2019, $3,704 in 2025Find your neighborhoodChicagoMonthly payments are on the way. For now, see how prices moved in each neighborhood.See Chicago home prices

Monthly mortgage payment is principal and interest on a 30-year fixed loan with 20% down, at the year's average Freddie Mac rate; taxes and insurance are not included.

Those are city-wide figures; now look up the home you want.

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A model-generated estimate and analytical context, not investment advice. The estimated value comes from an automated valuation model (AVM). An AVM is an estimated sale price for a property. It is not the same as the opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.

Questions about housing affordability

How much more does it cost to buy a home than in 2019?

From 2019 to 2025, the monthly mortgage payment went from $4,192 to $7,397 on the average Brooklyn home, from $2,275 to $4,410 on the median LA County home and from $2,271 to $3,704 on the median DC home. Each city page has the figure for every neighborhood.

Why did monthly mortgage payments rise so much?

Prices and the mortgage rate moved together. The average 30-year fixed rate went from 3.94% in 2019 to 6.60% in 2025, and the rate accounts for $1,682 of the $3,205 rise in Brooklyn, $964 of the $2,135 rise in LA County and $872 of the $1,433 rise in DC.

What income do you need to buy in Brooklyn or LA County or DC?

About $296,000 a year for the average Brooklyn home, $176,000 a year for the median LA County home and $148,000 a year for the median DC home, by a common rule of thumb that keeps the monthly mortgage payment at 30% of gross income. Lenders apply their own tests, and taxes and insurance come on top.

What does the full cost to own a home add?

Property tax, insurance, HOA dues and upkeep come on top of the monthly mortgage payment shown here. A free account’s Cost to Own adds them up for a specific home, and three homes a month are free.