Household Bill Pay Report
This week, bill pay service doxo released its annual Household Bill Pay report, which breaks down how much the average U.S. household spends on essentials, including auto loans, utilities, health insurance, rent, and mortgages. The average amount consumers spend per year on household bills grew 4% year over year.
The U.S. State with the Highest Average Monthly Mortgage: California
California is the state with the highest average monthly mortgage payment, with an average monthly payment of $2,576. This is $1,174 above the national average. The average cost of bills in California is 38.7% above the national average.
10 U.S. States with the Highest Average Monthly Mortgage Payments
- California
- New Jersey
- Hawaii
- Massachusetts
- New York
- Connecticut
- New Hampshire
- Maryland
- Washington
- Colorado
The U.S. State with the Lowest Average Monthly Mortgage: West Virginia
West Virginia has the lowest average monthly mortgage payment, with an average payment of $961. Residents of the state also pay the lowest average monthly rent.
10 U.S. States with the Lowest Average Monthly Mortgage Payments
- West Virginia
- Arkansas
- Alabama
- Indiana
- Kentucky
- Mississippi
- Oklahoma
- Ohio
- New Mexico
- Iowa
Conclusion
The doxo report highlights the significant disparities in household bills across different states in the United States. California, with its high cost of living, has the highest average monthly mortgage payment, while West Virginia, with its lower cost of living, has the lowest. Understanding these disparities is essential for policymakers and individuals looking to make informed decisions about their financial well-being.
FAQs
Q: What is the average annual household bill in the United States?
A: The average annual household bill in the United States is $885,000,000.
Q: Which state has the highest average monthly mortgage payment?
A: California has the highest average monthly mortgage payment, with an average payment of $2,576.
Q: Which state has the lowest average monthly mortgage payment?
A: West Virginia has the lowest average monthly mortgage payment, with an average payment of $961.
Q: What is the average cost of living in California?
A: The average cost of living in California is 38.7% above the national average.
