real estate

How Much the Average Home Costs in 2020

The prices reflect the typical monthly mortgage payment for buyers in April 2020

File photo - A for sale sign is posted in front of a home on Nov. 17, 2016, in Miami, Florida.
Photo by Joe Raedle/Getty Images

Home buying is expected to keep picking up in 2020, with mortgage rates around a full percentage point lower than they were this time last year.

Prices are getting a boost in many markets, too, with housing inventory low across the country. To get a sense of how much you can expect to pay if you are in the market for a home this year, Zillow provided CNBC Make It with figures for what the average home is forecasted to cost in the U.S. overall and in 11 markets across the country in 2020.

The prices reflect the typical monthly mortgage payment for buyers in April 2020, based on a 3.6%, 30-year fixed mortgage rate. The 10% down payments include a typical PMI payment. Your actual rates and mortgage payments will, of course, vary depending on your individual circumstances.

United States

  • Forecasted home price in April 2020: $246,334
  • Mortgage payment with 20% down: $896
  • Mortgage payment with 10% down: $1,134

Atlanta

  • Forecasted home price in April 2020: $240,162
  • Mortgage payment with 20% down: $874
  • Mortgage payment with 10% down: $1,105

Boston

  • Forecasted home price in April 2020: $489,850
  • Mortgage payment with 20% down: $1,782
  • Mortgage payment with 10% down: $2,255

Chicago

  • Forecasted home price in April 2020: $238,634
  • Mortgage payment with 20% down: $868
  • Mortgage payment with 10% down: $1,098

Dallas/Fort Worth

  • Forecasted home price in April 2020: $251,918
  • Mortgage payment with 20% down: $916
  • Mortgage payment with 10% down: $1,160

Detroit

  • Forecasted home price in April 2020: $178,647
  • Mortgage payment with 20% down: $650
  • Mortgage payment with 10% down: $822

Los Angeles

  • Forecasted home price in April 2020: $675,642
  • Mortgage payment with 20% down: $2,457
  • Mortgage payment with 10% down: $3,110

New York City

  • Forecasted home price in April 2020: $479,993
  • Mortgage payment with 20% down: $1,746
  • Mortgage payment with 10% down: $2,209

Phoenix

  • Forecasted home price in April 2020: $291,270
  • Mortgage payment with 20% down: $1,059
  • Mortgage payment with 10% down: $1,341

San Francisco

  • Forecasted home price in April 2020: $1,093,733
  • Mortgage payment with 20% down: $3,978
  • Mortgage payment with 10% down: $5,035

St. Louis

  • Forecasted home price in April 2020: $179,513
  • Mortgage payment with 20% down: $653
  • Mortgage payment with 10% down: $826

Washington D.C.

  • Forecasted home price in April 2020: $437,162
  • Mortgage payment with 20% down: $1,590
  • Mortgage payment with 10% down: $2,012

This story first appeared on CNBC.com

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