Buying a home is as expensive as it has ever been. In June, the typical existing home in the US sold for $440,600. That is the highest price ever recorded, and the 36th month in a row that prices were higher than the year before.
At the same time, mortgage money stays costly. The average 30-year fixed rate is 6.58% this month.
What a payment looks like today
Say you buy that typical $440,600 home and put 20% down. You would borrow $352,480. At 6.58%, the loan payment is about $2,246 a month — before property tax and home insurance. With 10% down, it is about $2,527 a month.
A common rule says your housing cost should stay under about 28% of your income before taxes. For a $2,246 payment plus tax and insurance, that points to a household income of roughly $110,000 or more.
A little good news for buyers
- More homes for sale. There were 1.56 million homes on the market in June — more choice than a year ago.
- Sales are slow. Sales fell 2.4% from May. When homes sit longer, sellers negotiate more.
- Prices are rising slowly now. Up 1.8% in a year — far calmer than the wild jumps of a few years ago.
What this means for you
- Before you fall in love with a house, run the numbers with our Home Affordability calculator.
- Not sure buying beats renting where you live? Try Rent or Buy.
- Already have a mortgage? Small extra payments can cut years off the loan — see Mortgage Overpayment.
Where these facts come from: National Association of Realtors — June 2026 existing-home sales, Freddie Mac — weekly mortgage rates. Facts checked July 2026. Numbers can change after publication.