17 Suburbs Where the Average Monthly Mortgage Is Less Than $1,000

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Now that rent costs an average of $1,700 per month in the U.S., according to Zillow’s estimate, you may as well look into owning a house. In certain cities, your monthly mortgage payment might be half of the median rent price in the U.S. — or even less — which means homeownership could be well within reach.

A study found 17 great suburbs where your mortgage will typically cost less than $1,000 per month. This study ranks the suburbs from the highest monthly mortgage payment to the lowest, and also takes several other important factors into account:

  • Safety
  • Cost of living
  • Quality of schools

If you can save up enough for a down payment, it’s worth shopping around for a cheaper mortgage so that you can build equity in a home instead of spending your money on astronomical rents. Limiting your housing budget to $1,000 per month or less may help your family and finances thrive in these top suburbs.

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