Hawaii, California, and Washington, DC, reign as the most expensive places to put down roots.
That’s according to a new study out from online loan broker LendingTree, which compiled data from 250,000 home loan requests between January and October of 2016. The study revealed the most expensive cities and states for mortgages based on average monthly loan payments and average total loan amounts.
The study revealed that Kentucky is the least expensive place to take out a mortgage, while DC tops the list. Hawaii unsurprisingly comes in second place as the priciest monthly payment.
But when it comes to cities, several small or midsize cities placed unexpectedly high on the list for most expensive mortgages and loan payments, like Bend, Oregon, and Butte-Bozeman, Montana. Syracuse, New York, was the cheapest city for taking out a mortgage.
Listed below are the top 25 most expensive cities for owning a home.
25. Chico-Redding, California
Average monthly payment: $1,261.86
Average loan amount: $221,996.08
24. Portland, Oregon
Average monthly payment: $1,254.57
Average loan amount: $219,193.83
23. West Palm Beach, Florida
Average monthly payment: $1,276.05
Average loan amount: $226,421.56