In 2022, the average expenditure on mortgage interest and charges in the United States amounted to 2,569.55 U.S. dollars per consumer unit. That can be explained by the steady decline in mortgage interest rates before 2021. Since then, mortgage rates have increased, which is likely to affect households' future expenditures.
Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022
(in U.S. dollars)
A consumer unit consists of any of the following: (1) All members of a particular household who are related by blood, marriage, adoption, or other legal arrangements; (2) a person living alone or sharing a household with others or living as a roomer in a private home or lodging house or in permanent living quarters in a hotel or motel, but who is financially independent; or (3) two or more persons living together who use their incomes to make joint expenditure decisions. Financial independence is determined by spending behavior with regard to the three major expense categories: Housing, food, and other living expenses. To be considered financially independent, the respondent must provide at least two of the three major expenditure categories, either entirely or in part. Data are diary-based. Figures prior to 2019 have been taken from previous publications.
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Bureau of Labor Statistics. (May 2, 2024). Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022 (in U.S. dollars) [Graph]. In Statista. Retrieved November 18, 2024, from https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/
Bureau of Labor Statistics. "Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022 (in U.S. dollars)." Chart. May 2, 2024. Statista. Accessed November 18, 2024. https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/
Bureau of Labor Statistics. (2024). Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022 (in U.S. dollars). Statista. Statista Inc.. Accessed: November 18, 2024. https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/
Bureau of Labor Statistics. "Average Annual Expenditure on Mortgage Interest and Charges per Consumer Unit in The United States from 2007 to 2022 (in U.S. Dollars)." Statista, Statista Inc., 2 May 2024, https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/
Bureau of Labor Statistics, Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022 (in U.S. dollars) Statista, https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/ (last visited November 18, 2024)
Average annual expenditure on mortgage interest and charges per consumer unit in the United States from 2007 to 2022 (in U.S. dollars) [Graph], Bureau of Labor Statistics, May 2, 2024. [Online]. Available: https://www.statista.com/statistics/1052511/us-consumer-spending-on-mortgage/
