Arkansas has the 2nd-lowest median mortgage rate in the U.S., Business Insider says

FAYETTEVILLE, Ark. (KNWA/KFTA) — Recent data shows that Arkansas is among the top five states with the cheapest median mortgage payments.

According to Business Insider , the five states with the lowest average mortgage payments are:

1. West Virginia: $1,208
2. Arkansas: $1,315
3. Mississippi: $1,321
4. Indiana: $1,359
5. Alabama: $1,372

In the U.S., the median rent is $1,406, while the median monthly mortgage payment is $1,904.

In comparison, the median rent in Arkansas is $933, while median monthly household income is $4,892.

Arkansans spend 27% of their income on rent on average, according to Business Insider.

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