1112 ET - The U.S. median home price is $412,000, requiring 10 workdays monthly to afford the mortgage, says Realtor.com, but for residents in some states, the number of workdays required can go up to 17 days. Hawaii's $796,947 median demands 17 days for a $5,222 payment, while California--$4,773--and Montana--$613,275--need 15 days each, driven by demand and rising costs in places like Bozeman. Conversely, the Midwest and Southeast offer relief. West Virginia--$247,000--and Ohio--$259,450--require just seven and six days, respectively. Other affordable states--Kansas, Missouri, Indiana, Illinois, and Michigan--also average a week's work for mortgage payments, highlighting stark regional disparities in housing affordability. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 11:13 ET (15:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.