Mortgage Rates Back Above 7%: What It Costs Buyers in 145 Metros
Freddie Mac’s average 30-year mortgage rate rose to 7.03% on September 24, 2026, the first reading at or above 7% since January 16, 2025 (7.04%). At that rate, a household earning the local median income can afford the typical home in only 4 of the 100 largest US metros, down from 12 at February’s 5.98% low.
Key findings
- On the typical US home (Zillow, August 2026: $368,697), principal and interest with 20% down went from $1,766 a month at 5.98% to $1,970 at 7.03%: $204 more a month, about $2,446 a year, for the same house.
- Among the 100 largest metros, the median-income household could afford the typical home in 12 at February’s rate and in 11 a year ago. At 7.03% it’s 4: Pittsburgh, Toledo, Augusta (GA) and Jackson (MS).
- Slipped out of reach for the median household since February: St. Louis, Indianapolis, Memphis, Birmingham, Columbia (SC), Little Rock, Akron and Scranton. Among all 145 metros, also Huntsville, Mobile, Fort Wayne, Gulfport, Flint and Beaumont.
- Least affordable: Los Angeles (income needed 2.56x the median), San Jose (2.37x), San Diego (2.2x), San Francisco (2.17x), New York (2.15x).
Data for all 145 metros
Typical home value, monthly payment and the household income needed to keep the payment at 28% of gross income, at 7.03%. “Try it” opens the mortgage calculator with that metro’s numbers filled in, so you can change the price, rate or down payment. Download the full table (CSV).
| Metro | Typical home | P&I at 5.98% | P&I at 7.03% | Total payment | Income needed | Median income | Median can afford? | Calculator |
|---|---|---|---|---|---|---|---|---|
| New York, NY | $735,000 | $3,518 | $3,924 | $5,019 | $215,100 | $99,852 | No | Try it |
| Los Angeles, CA | $953,000 | $4,561 | $5,088 | $5,751 | $246,500 | $96,405 | No | Try it |
| Chicago, IL | $357,000 | $1,709 | $1,906 | $2,705 | $115,900 | $90,770 | No | Try it |
| Dallas, TX | $360,000 | $1,723 | $1,922 | $2,736 | $117,300 | $92,733 | No | Try it |
| Houston, TX | $305,000 | $1,460 | $1,628 | $2,379 | $102,000 | $81,417 | No | Try it |
| Washington, DC | $573,000 | $2,742 | $3,059 | $3,649 | $156,400 | $126,244 | No | Try it |
| Philadelphia, PA | $390,000 | $1,867 | $2,082 | $2,636 | $113,000 | $90,850 | No | Try it |
| Miami, FL | $476,000 | $2,278 | $2,541 | $3,578 | $153,300 | $80,625 | No | Try it |
| Atlanta, GA | $377,000 | $1,804 | $2,013 | $2,459 | $105,400 | $92,344 | No | Try it |
| Boston, MA | $734,000 | $3,513 | $3,918 | $4,715 | $202,100 | $117,825 | No | Try it |
| Phoenix, AZ | $442,000 | $2,115 | $2,360 | $2,707 | $116,000 | $90,133 | No | Try it |
| San Francisco, CA | $1,123,000 | $5,375 | $5,995 | $6,858 | $293,900 | $135,590 | No | Try it |
| Riverside, CA | $581,000 | $2,781 | $3,102 | $3,581 | $153,500 | $91,013 | No | Try it |
| Detroit, MI | $267,000 | $1,278 | $1,425 | $1,967 | $84,300 | $76,403 | No | Try it |
| Seattle, WA | $727,000 | $3,480 | $3,881 | $4,541 | $194,600 | $112,388 | No | Try it |
| Minneapolis, MN | $389,000 | $1,862 | $2,077 | $2,701 | $115,800 | $97,928 | No | Try it |
| San Diego, CA | $931,000 | $4,456 | $4,970 | $5,612 | $240,500 | $109,132 | No | Try it |
| Tampa, FL | $359,000 | $1,718 | $1,917 | $2,845 | $121,900 | $78,275 | No | Try it |
| Denver, CO | $560,000 | $2,680 | $2,990 | $3,699 | $158,500 | $108,046 | No | Try it |
| Baltimore, MD | $400,000 | $1,914 | $2,135 | $2,647 | $113,400 | $98,666 | No | Try it |
| St. Louis, MO | $276,000 | $1,321 | $1,473 | $2,047 | $87,700 | $81,679 | No (yes in Feb) | Try it |
| Orlando, FL | $383,000 | $1,833 | $2,045 | $2,985 | $127,900 | $81,044 | No | Try it |
| Charlotte, NC | $384,000 | $1,838 | $2,050 | $2,571 | $110,200 | $85,938 | No | Try it |
| San Antonio, TX | $277,000 | $1,326 | $1,479 | $2,186 | $93,700 | $78,112 | No | Try it |
| Portland, OR | $543,000 | $2,599 | $2,899 | $3,414 | $146,300 | $98,994 | No | Try it |
| Sacramento, CA | $575,000 | $2,752 | $3,070 | $3,571 | $153,000 | $98,775 | No | Try it |
| Pittsburgh, PA | $232,000 | $1,110 | $1,239 | $1,591 | $68,200 | $77,214 | Yes | Try it |
| Cincinnati, OH | $308,000 | $1,474 | $1,644 | $2,109 | $90,400 | $81,489 | No | Try it |
| Austin, TX | $418,000 | $2,001 | $2,232 | $3,111 | $133,300 | $99,897 | No | Try it |
| Las Vegas, NV | $424,000 | $2,029 | $2,264 | $2,589 | $110,900 | $80,028 | No | Try it |
| Kansas City, MO | $327,000 | $1,565 | $1,746 | $2,354 | $100,900 | $83,785 | No | Try it |
| Columbus, OH | $330,000 | $1,579 | $1,762 | $2,281 | $97,700 | $82,938 | No | Try it |
| Indianapolis, IN | $294,000 | $1,407 | $1,570 | $2,011 | $86,200 | $80,239 | No (yes in Feb) | Try it |
| Cleveland, OH | $254,000 | $1,216 | $1,356 | $1,852 | $79,400 | $72,532 | No | Try it |
| San Jose, CA | $1,528,000 | $7,313 | $8,157 | $9,128 | $391,200 | $164,801 | No | Try it |
| Nashville, TN | $452,000 | $2,163 | $2,413 | $2,859 | $122,500 | $88,800 | No | Try it |
| Virginia Beach, VA | $373,000 | $1,785 | $1,991 | $2,405 | $103,100 | $82,402 | No | Try it |
| Providence, RI | $525,000 | $2,513 | $2,803 | $3,460 | $148,300 | $82,870 | No | Try it |
| Jacksonville, FL | $351,000 | $1,680 | $1,874 | $2,799 | $119,900 | $82,053 | No | Try it |
| Milwaukee, WI | $389,000 | $1,862 | $2,077 | $2,645 | $113,300 | $77,919 | No | Try it |
| Oklahoma City, OK | $245,000 | $1,173 | $1,308 | $1,940 | $83,100 | $72,930 | No | Try it |
| Raleigh, NC | $431,000 | $2,063 | $2,301 | $2,855 | $122,400 | $102,144 | No | Try it |
| Memphis, TN | $245,000 | $1,173 | $1,308 | $1,711 | $73,300 | $68,124 | No (yes in Feb) | Try it |
| Richmond, VA | $395,000 | $1,891 | $2,109 | $2,504 | $107,300 | $83,460 | No | Try it |
| Louisville, KY | $280,000 | $1,340 | $1,495 | $2,054 | $88,000 | $74,305 | No | Try it |
| New Orleans, LA | $261,000 | $1,249 | $1,393 | $1,958 | $83,900 | $62,373 | No | Try it |
| Salt Lake City, UT | $560,000 | $2,680 | $2,990 | $3,375 | $144,600 | $100,548 | No | Try it |
| Hartford, CT | $402,000 | $1,924 | $2,146 | $2,907 | $124,600 | $94,419 | No | Try it |
| Buffalo, NY | $292,000 | $1,398 | $1,559 | $2,146 | $92,000 | $72,300 | No | Try it |
| Birmingham, AL | $263,000 | $1,259 | $1,404 | $1,824 | $78,200 | $74,954 | No (yes in Feb) | Try it |
| Rochester, NY | $287,000 | $1,374 | $1,532 | $2,229 | $95,500 | $76,453 | No | Try it |
| Grand Rapids, MI | $357,000 | $1,709 | $1,906 | $2,461 | $105,500 | $81,541 | No | Try it |
| Tucson, AZ | $338,000 | $1,618 | $1,804 | $2,188 | $93,800 | $72,067 | No | Try it |
| Urban Honolulu, HI | $856,000 | $4,097 | $4,570 | $4,841 | $207,500 | $105,205 | No | Try it |
| Tulsa, OK | $254,000 | $1,216 | $1,356 | $1,975 | $84,600 | $69,658 | No | Try it |
| Fresno, CA | $407,000 | $1,948 | $2,173 | $2,561 | $109,800 | $74,983 | No | Try it |
| Worcester, MA | $479,000 | $2,293 | $2,557 | $3,219 | $138,000 | $96,602 | No | Try it |
| Omaha, NE | $308,000 | $1,474 | $1,644 | $2,510 | $107,600 | $84,524 | No | Try it |
| Bridgeport, CT | $693,000 | $3,317 | $3,700 | $4,725 | $202,500 | $116,402 | No | Try it |
| Greenville, SC | $314,000 | $1,503 | $1,676 | $2,035 | $87,200 | $75,881 | No | Try it |
| Albuquerque, NM | $350,000 | $1,675 | $1,868 | $2,388 | $102,300 | $76,097 | No | Try it |
| Bakersfield, CA | $363,000 | $1,737 | $1,938 | $2,339 | $100,300 | $71,596 | No | Try it |
| Albany, NY | $375,000 | $1,795 | $2,002 | $2,654 | $113,700 | $86,637 | No | Try it |
| Knoxville, TN | $365,000 | $1,747 | $1,949 | $2,328 | $99,800 | $74,184 | No | Try it |
| Baton Rouge, LA | $249,000 | $1,192 | $1,329 | $1,877 | $80,400 | $69,293 | No | Try it |
| McAllen, TX | $193,000 | $924 | $1,030 | $1,647 | $70,600 | $56,720 | No | Try it |
| New Haven, CT | $409,000 | $1,958 | $2,183 | $2,955 | $126,700 | $89,645 | No | Try it |
| El Paso, TX | $234,000 | $1,120 | $1,249 | $1,969 | $84,400 | $59,834 | No | Try it |
| Allentown, PA | $366,000 | $1,752 | $1,954 | $2,504 | $107,300 | $83,974 | No | Try it |
| Oxnard, CA | $872,000 | $4,173 | $4,655 | $5,283 | $226,400 | $114,238 | No | Try it |
| Columbia, SC | $256,000 | $1,225 | $1,367 | $1,710 | $73,300 | $70,788 | No (yes in Feb) | Try it |
| North Port, FL | $402,000 | $1,924 | $2,146 | $3,106 | $133,100 | $82,106 | No | Try it |
| Charleston, SC | $432,000 | $2,068 | $2,306 | $2,695 | $115,500 | $90,307 | No | Try it |
| Greensboro, NC | $263,000 | $1,259 | $1,404 | $1,880 | $80,600 | $66,072 | No | Try it |
| Stockton, CA | $524,000 | $2,508 | $2,797 | $3,266 | $140,000 | $93,038 | No | Try it |
| Cape Coral, FL | $335,000 | $1,603 | $1,788 | $2,712 | $116,200 | $83,602 | No | Try it |
| Boise City, ID | $494,000 | $2,364 | $2,637 | $3,022 | $129,500 | $88,695 | No | Try it |
| Colorado Springs, CO | $448,000 | $2,144 | $2,392 | $3,009 | $128,900 | $90,760 | No | Try it |
| Little Rock, AR | $232,000 | $1,110 | $1,239 | $1,623 | $69,600 | $68,344 | No (yes in Feb) | Try it |
| Lakeland, FL | $296,000 | $1,417 | $1,580 | $2,467 | $105,700 | $66,779 | No | Try it |
| Akron, OH | $242,000 | $1,158 | $1,292 | $1,746 | $74,800 | $71,364 | No (yes in Feb) | Try it |
| Des Moines, IA | $294,000 | $1,407 | $1,570 | $2,183 | $93,500 | $85,446 | No | Try it |
| Springfield, MA | $377,000 | $1,804 | $2,013 | $2,625 | $112,500 | $71,402 | No | Try it |
| Ogden, UT | $512,000 | $2,450 | $2,733 | $3,111 | $133,300 | $98,456 | No | Try it |
| Madison, WI | $449,000 | $2,149 | $2,397 | $3,088 | $132,400 | $89,714 | No | Try it |
| Winston, NC | $280,000 | $1,340 | $1,495 | $1,953 | $83,700 | $65,903 | No | Try it |
| Deltona, FL | $330,000 | $1,579 | $1,762 | $2,677 | $114,700 | $73,701 | No | Try it |
| Syracuse, NY | $271,000 | $1,297 | $1,447 | $2,082 | $89,200 | $76,313 | No | Try it |
| Provo, UT | $539,000 | $2,580 | $2,877 | $3,220 | $138,000 | $101,014 | No | Try it |
| Toledo, OH | $205,000 | $981 | $1,094 | $1,516 | $65,000 | $66,095 | Yes | Try it |
| Wichita, KS | $224,000 | $1,072 | $1,196 | $1,858 | $79,600 | $71,810 | No | Try it |
| Durham, NC | $405,000 | $1,938 | $2,162 | $2,722 | $116,600 | $83,542 | No | Try it |
| Augusta, GA | $253,000 | $1,211 | $1,351 | $1,664 | $71,300 | $72,176 | Yes | Try it |
| Palm Bay, FL | $342,000 | $1,637 | $1,826 | $2,730 | $117,000 | $78,196 | No | Try it |
| Jackson, MS | $214,000 | $1,024 | $1,142 | $1,481 | $63,500 | $64,835 | Yes | Try it |
| Harrisburg, PA | $312,000 | $1,493 | $1,666 | $2,076 | $89,000 | $80,904 | No | Try it |
| Spokane, WA | $418,000 | $2,001 | $2,232 | $2,658 | $113,900 | $84,350 | No | Try it |
| Scranton, PA | $236,000 | $1,130 | $1,260 | $1,622 | $69,500 | $68,079 | No (yes in Feb) | Try it |
| Chattanooga, TN | $323,000 | $1,546 | $1,724 | $2,139 | $91,700 | $75,076 | No | Try it |
| Modesto, CA | $464,000 | $2,221 | $2,477 | $2,889 | $123,800 | $78,673 | No | Try it |
| Lancaster, PA | $388,000 | $1,857 | $2,071 | $2,569 | $110,100 | $85,802 | No | Try it |
| Portland, ME | $540,000 | $2,585 | $2,883 | $3,402 | $145,800 | $93,062 | No | Try it |
| Youngstown, OH | $177,000 | $847 | $945 | $1,300 | $55,700 | $57,812 | Yes | Try it |
| Lansing, MI | $250,000 | $1,197 | $1,335 | $1,906 | $81,700 | $72,010 | No | Try it |
| Fayetteville, AR | $368,000 | $1,761 | $1,965 | $2,385 | $102,200 | $81,208 | No | Try it |
| Fayetteville, NC | $256,000 | $1,225 | $1,367 | $1,857 | $79,600 | $61,379 | No | Try it |
| Lexington, KY | $326,000 | $1,560 | $1,740 | $2,322 | $99,500 | $71,444 | No | Try it |
| Pensacola, FL | $310,000 | $1,484 | $1,655 | $2,509 | $107,500 | $74,248 | No | Try it |
| Santa Rosa, CA | $785,000 | $3,757 | $4,191 | $4,789 | $205,200 | $107,274 | No | Try it |
| Reno, NV | $571,000 | $2,733 | $3,048 | $3,416 | $146,400 | $89,159 | No | Try it |
| Huntsville, AL | $315,000 | $1,508 | $1,682 | $2,095 | $89,800 | $87,049 | No (yes in Feb) | Try it |
| Port St. Lucie, FL | $382,000 | $1,828 | $2,039 | $3,039 | $130,200 | $80,659 | No | Try it |
| Lafayette, LA | $203,000 | $972 | $1,084 | $1,596 | $68,400 | $60,527 | No | Try it |
| Myrtle Beach, SC | $340,000 | $1,627 | $1,815 | $2,149 | $92,100 | $68,534 | No | Try it |
| Springfield, MO | $272,000 | $1,302 | $1,452 | $1,909 | $81,800 | $67,219 | No | Try it |
| Visalia, CA | $362,000 | $1,733 | $1,933 | $2,278 | $97,600 | $69,880 | No | Try it |
| Killeen, TX | $250,000 | $1,197 | $1,335 | $1,972 | $84,500 | $68,465 | No | Try it |
| Asheville, NC | $419,000 | $2,005 | $2,237 | $2,731 | $117,000 | $76,275 | No | Try it |
| York, PA | $311,000 | $1,488 | $1,660 | $2,158 | $92,500 | $81,453 | No | Try it |
| Vallejo, CA | $572,000 | $2,738 | $3,054 | $3,558 | $152,500 | $94,930 | No | Try it |
| Santa Maria, CA | $992,000 | $4,748 | $5,296 | $5,937 | $254,500 | $95,637 | No | Try it |
| Salinas, CA | $843,000 | $4,035 | $4,500 | $5,074 | $217,500 | $93,290 | No | Try it |
| Salem, OR | $450,000 | $2,154 | $2,402 | $2,835 | $121,500 | $82,732 | No | Try it |
| Mobile, AL | $197,000 | $943 | $1,052 | $1,438 | $61,600 | $60,379 | No (yes in Feb) | Try it |
| Reading, PA | $315,000 | $1,508 | $1,682 | $2,177 | $93,300 | $78,074 | No | Try it |
| Corpus Christi, TX | $224,000 | $1,072 | $1,196 | $1,832 | $78,500 | $68,650 | No | Try it |
| Brownsville, TX | $209,000 | $1,000 | $1,116 | $1,729 | $74,100 | $53,267 | No | Try it |
| Manchester, NH | $524,000 | $2,508 | $2,797 | $3,565 | $152,800 | $106,013 | No | Try it |
| Fort Wayne, IN | $260,000 | $1,244 | $1,388 | $1,796 | $77,000 | $71,251 | No (yes in Feb) | Try it |
| Gulfport, MS | $225,000 | $1,077 | $1,201 | $1,534 | $65,700 | $65,256 | No (yes in Feb) | Try it |
| Flint, MI | $197,000 | $943 | $1,052 | $1,517 | $65,000 | $63,594 | No (yes in Feb) | Try it |
| Peoria, IL | $175,000 | $838 | $934 | $1,475 | $63,200 | $74,352 | Yes | Try it |
| Canton, OH | $220,000 | $1,053 | $1,174 | $1,558 | $66,800 | $69,597 | Yes | Try it |
| Savannah, GA | $342,000 | $1,637 | $1,826 | $2,243 | $96,100 | $80,518 | No | Try it |
| Anchorage, AK | $426,000 | $2,039 | $2,274 | $2,809 | $120,400 | $102,698 | No | Try it |
| Beaumont, TX | $188,000 | $900 | $1,004 | $1,579 | $67,700 | $65,775 | No (yes in Feb) | Try it |
| Shreveport, LA | $186,000 | $890 | $993 | $1,517 | $65,000 | $57,514 | No | Try it |
| Trenton, NJ | $445,000 | $2,130 | $2,376 | $3,236 | $138,700 | $104,148 | No | Try it |
| Montgomery, AL | $215,000 | $1,029 | $1,148 | $1,522 | $65,200 | $66,706 | Yes | Try it |
| Tallahassee, FL | $284,000 | $1,359 | $1,516 | $2,386 | $102,300 | $65,009 | No | Try it |
| Eugene, OR | $455,000 | $2,178 | $2,429 | $2,857 | $122,500 | $73,476 | No | Try it |
| Naples, FL | $551,000 | $2,637 | $2,942 | $3,907 | $167,400 | $95,862 | No | Try it |
| Ann Arbor, MI | $417,000 | $1,996 | $2,226 | $2,994 | $128,300 | $90,523 | No | Try it |
| Ocala, FL | $269,000 | $1,287 | $1,436 | $2,306 | $98,800 | $64,410 | No | Try it |
| Hickory, NC | $269,000 | $1,287 | $1,436 | $1,876 | $80,400 | $64,059 | No | Try it |
Method
- Home price: Zillow Home Value Index (all homes, mid-tier, smoothed, seasonally adjusted), August 2026, by metro, rounded to the nearest $1,000.
- Mortgage: 30-year fixed, 20% down, at Freddie Mac Primary Mortgage Market Survey rates: 7.03% (Sep 24, 2026), 5.98% (Feb 26, 2026) and 6.3% (Sep 25, 2025).
- Property tax: each metro’s effective rate, median real estate taxes paid divided by median home value (Census ACS 2024 1-year).
- Insurance: state average annual homeowners premium (Insurance.com, 2026, $300,000 dwelling coverage).
- Income: median household income, Census ACS 2024 1-year, the latest metro data available.
- Affordable: total payment (principal, interest, property tax and insurance) of at most 28% of gross income, with no other debts.
- Buying power lost: today’s price minus the most expensive home whose payment at 7.03% equals the payment on today’s price at 5.98%. A year ago uses the August 2025 home value at 6.3%, with today’s tax rate and insurance.
- Metros are matched from Zillow names to Census metro areas by principal city and state. Salisbury (MD) and Davenport (IA) could not be matched and are left out.
Limits
- Incomes are from 2024 and prices from 2026, so the income gap is somewhat overstated. The change since February (same income, only the rate moves) is not affected.
- The Zillow index is a typical value, not a sale price. Insurance is a state average, not a metro figure. 20% down and no other debts describe a favorable buyer.
- This is an analysis of public data, not a forecast or a lending decision. Lenders apply their own limits.
Using these numbers
You’re welcome to quote or republish the figures. Please credit “SureCalcs analysis of Freddie Mac, Zillow and Census data” and link to this page. Home values are from the Zillow Home Value Index (Zillow Research). For questions or data for a specific area, contact us.
Run your own numbers with the mortgage calculator or see what you can afford with the house affordability calculator.
Sources
- Primary Mortgage Market Survey (PMMS), weekly history — Freddie Mac
- Zillow Home Value Index (ZHVI): all homes, mid-tier, smoothed, seasonally adjusted, by metro — Zillow Research
- American Community Survey 2024 1-year: median household income (B19013), median real estate taxes paid (B25103), median home value (B25077) — U.S. Census Bureau
- Average homeowners insurance rates by state (2026, $300,000 dwelling coverage) — Insurance.com