New Statistics from the 2024 American Community Survey 1-Year Estimates

The Cost of Homeownership Continues to Rise

SEPT. 11, 2025 – The median monthly owner costs for U.S. homeowners with a mortgage increased to $2,035 in 2024 from $1,960 (inflation-adjusted) in 2023, according to new American Community Survey (ACS) 1-year estimates released today by the U.S. Census Bureau.

“One way we measure housing affordability is based on how much households spend on selected costs such as mortgage payments, insurance, taxes, utilities, and various fees,” said Jacob Fabina, a Census Bureau economist. “In 2024, the median percentage of income householders with a mortgage spent on these costs was 21.4%, which points to an increased burden on homeowners.”

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Median monthly owner costs increased 3.8% from 2023 to 2024, more than the increase of 3.0% from 2022 ($1,902) to 2023. This increase was primarily driven by higher mortgage costs and insurance fees.

Continue reading to explore more data highlights on housing, income, poverty, and health insurance.

📰 New on America Counts

Get insights from 2024 American Community Survey data released today in three new stories on America Counts.

A smiling woman holds keys to her new home with her realtor in the background

Recent Homebuyers Face Highest Mortgage Payments in Nearly Two Decades

Recent homebuyers in 2024 faced higher mortgage payments than those who moved into homes three years earlier, despite living in lower-valued homes.

A healthcare provider checks a baby while it is held by its mother

Uninsured Rates Up in 18 States and District of Columbia

Declines in Medicaid coverage rates in 30 states drove up state uninsured rates from 2023 to 2024.

A condo building viewed from the parking lot

Nearly a Quarter of Homeowners Paid Condo or HOA Fees in 2024

Condo or homeowners association fees topped $500 monthly for about 3 million households in 2024.

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📌 You May Be Interested In

Press Kit: 2024 American Community Survey 1-Year Estimates
Blog: Understanding the 2024 American Community Survey 1-Year Estimates
Infographic: Homeownership: 2024
Infographic: Housing Costs: 2024

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