Average mortgage payment in DC region tops $3,900 a month, but among most ‘affordable’

Housing affordability for owners can be determined by how much of any metro’s median household income it takes to cover the cost of the mortgage on a median priced home, and for the first time in 2024, it did not get worse.

Redfin says nationally, a household earning the median U.S. income had to spend 41.8% of their earnings on monthly housing costs, slightly better than the 42.2% in 2022.

Because the math includes variables that differ widely from city to city, some more expensive markets fair better than less expensive ones...