Census Data Shows 2024 Movers Paying 41% More per Month

Higher mortgage bills and lower-priced homes are increasingly the norm for Americans who moved in 2024, according to new 1-year estimates from the U.S. Census Bureau’s American Community Survey.

Households that took on a mortgage last year reported a median monthly payment of $2,225, the highest since the ACS began tracking comparable data in 2008 and more than 20% above what recent movers paid in 2021 ($1,797). At the same time, the pool of owners taking on new mortgages shrank to 1.5 million, the smallest since 2014 and the third straight yearly drop from a 2021 peak of 2.1 million.

Payment growth did moderate. Median costs for 2024 movers rose 3.6% from 2023, roughly one-third of the prior year’s 10% jump. But owners who stayed

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