For homebuyers, a mortgage payment is likely their biggest monthly expense. Fortunately, Texas sits below the national average for the number of workdays required per month to afford a monthly mortgage payment, according to a new analysis from Realtor.com.

In Texas, it takes eight workdays to come up with enough money for a typical mortgage payment, the analysis shows. The national average is 10 days.

Realtor.com’s estimate for Texas is based on the median list price for a home in February ($355,000) and assumes a 6.65 percent interest rate on a 30-year, fixed-rate mortgage with a 20 percent down payment. The analysis factors in property taxes and insurance premiums using a 1.7 percent annual rate. January wage data from the U.S. Bureau of Labor Statistics rounded out Realtor.com’s calculation of the eight-workday figure for Texas.

“The number of workdays required to afford a home today stems from a couple factors. First, home prices have risen faster than incomes, widening the gap between earnings and housing costs. Second, elevated mortgage rates have increased borrowing costs, further stretching monthly budgets,” says Charlie Lankston, executive editor of Austin-based Realtor.com. “As a result, prospective buyers must allocate more of their income, and consequently, more workdays each month, to afford mortgage payments.”

Mortgage payments are a concern for many homeowners. In a 2024 survey commissioned by personal finance website Bankrate, 13 percent of homeowners complained that their mortgage payment was too high. Nonetheless, 74 percent of first-time homebuyers indicated in a recent TD Bank survey that they were optimistic about today’s housing market.

Despite the optimism about the market overall, 64 percent of buyers surveyed by TD Bank were worried about their ability to afford a home due to current interest rates.

In the Realtor.com analysis, Texas fares much better than many other states. What follows are the four states where it takes the most workdays to afford a monthly mortgage payment:

• Hawaii — 17 days
• California — 15 days
• Massachusetts — 15 days
• Montana — 15 days

At the other end of the spectrum are Kansas, Missouri, Indiana, Illinois, West Virginia and Michigan — all at the seven-workday mark.