10 US Cities Where Mortgage Payments Have Dropped the Most Since 2023

Core Insights - Mortgage rates have decreased significantly, with the average 30-year rate now at 6.27%, down from 7.19% in 2023, making homeownership more affordable in many U.S. cities [1] - A combination of lower rates, increased inventory, and slower price growth has led to reduced monthly mortgage payments, with buyers saving thousands annually in some cities [2] Summary by Category Mortgage Rate Changes - The average 30-year mortgage rate has dropped to 6.27% from 7.19% in 2023, indicating a favorable shift for potential homeowners [1] Monthly Payment Analysis - A study by Zoocasa analyzed average monthly mortgage payments in 100 cities, comparing September 2025 to September 2023, revealing significant savings for buyers [3] - In North Port-Sarasota, Florida, the average mortgage payment decreased from $2,848 in 2023 to $2,278 in 2025, a reduction of $570 [4] - Cape Coral-Fort Myers, Florida saw a drop from $2,382 to $1,904, saving buyers $477 [6] - Denver's average mortgage payment fell from $2,688 to $2,289, resulting in a $399 savings [7] - Other notable reductions include Austin, Texas with a decrease of $355, and Raleigh, North Carolina with a payment of $2,330 in 2025 [8][10]