Mortgage payments are up the most in this New England city over the past 2 years

, putting the dream of owning property out of reach for many Americans. During that time, median mortgage payments rose from $2,319 to $2,835, per data provided by Redfin.

To get a better sense of how rising prices have affected different markets, Redfin compared mortgage payments for 50 of the largest U.S. cities in May 2022 with May 2024. These payments assume a 20% down payment and interest rates of 5.1% and 6.94%, respectively.

That said, mortgage interest rates have been higher in 2024, which has added a few hundred dollars to monthly home costs in that market.

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