The typical owner-occupied home in the U.S. is worth about $332,700. Owners pay a median $3,119 a year in property taxes, about 0.94% of their home's value. The median household earns $80,734 a year, so the median home costs 4.1 times the median income. 65% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
the U.S. at a glance
| U.S. | |
|---|---|
| Median home value | $332,700 |
| Median property tax paid per year | $3,119 |
| Property tax as a share of value | 0.94% |
| Median household income | $80,734 |
| Homes lived in by their owners | 65% |
| Owner homes with a mortgage | 61% |
| Median monthly costs, owners with a mortgage | $1,963 |
| Those costs as a share of the owners' income | 21.0% |
| Median rent | $1,413 |
| Rent as a share of renters' income | 30.6% |
| Median year homes were built | 1980 |
| Vacant homes | 10.1% |
| Population | 334,922,499 |
What a typical home costs per month in the U.S.
At this week's average 30-year rate of 7.11%, buying the median the U.S. home of $332,700 with 20% down costs about $2,190 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,744, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $93,845 for the 20%-down payment. That payment is 33% of the median the U.S. household income of $80,734; at that income and 20% down, the 28% guideline points to a home of about $286,000.
The median rent here is $1,413 a month, so owning the median home costs about $777 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,540 |
|---|---|
| Loan amount | $266,160 |
| Principal and interest | $1,790 |
| Property taxes (0.94% a year) | $261 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| PMI | $0 |
| Total per month | $2,190 |
Change the numbers in the calculator
| Down payment | $11,644 |
|---|---|
| Loan amount | $326,674 |
| Principal and interest | $2,198 |
| Property taxes (0.94% a year) | $261 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| FHA mortgage insurance | $147 |
| Total per month | $2,744 |
Change the numbers in the calculator
Questions about home buying in the U.S.
What is the median home value in the U.S.?
About $332,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in the U.S.?
Homeowners pay a median $3,119 a year, which is about 0.94% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in the U.S.?
For the median home with 20% down at 7.11%, the payment is about $2,190 a month. Keeping that under 28% of gross income takes about $93,845 a year.
More about the U.S.
- Mortgage Refinance in the U.S.
- Debt Relief in the U.S.
- Home Equity Loans in the U.S.
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data