The average home price in every state — and what you get for that money

The average home price in every state — and what you get for that money

  • Buying a home varies in price from state to state.
  • We teamed up withZillow to find out the average home value in each of the 50 states (plus Washington, DC).
  • We also included example listings from bothZillow andTrulia; these properties can help give a better idea of what a home will look like for the average cost in the state it resides.
  • Overall, theUnited States’ median home value dropped from nearly $280,000 to $227,000, despiterising costs in the housing market,especially in major cities.
  • Visit for more stories.

The averagecost of a home varies greatly from state to state.

We teamed up withZillow to find the median home value of each of the 50 states in the US, including Washington, DC. While there was some fluctuation fromlast year’s numbers, the highest and lowest state medians are the same:West Virginia— the only state with a sub-$100,000 median — remains the cheapest, whileHawaii holds its position as the most expensive.

For some states, this median value is heavily impacted by thetypical cost of a starter home. Additionally, many states include notoriously-expensive metro areas that contribute to higher averages, including California’s many coastal cities and Washington’sunaffordable Seattle neighborhoods due to the tech boom.

Read more: Home values have more than doubled in the US since 1970 — here’s how much they’ve increased in every state

Previous reporting from Business Insider’s Hillary Hoffowershows Zillow’s median home values from last August. Hoffower reported that the median home listing price in the US was $279,500. The most recent numbers, from April 2019, show a median home listing price of $226,800.

Looking at the top ten most expensive averages, all states remain the same — with the notable exception of New York. Ranked No. 7 last year, the Empire State dropped to No. 11,despite rising costs in Manhattan. Alaska swooped in to replace New York, jumping from No. 20 to No. 10 in a single year. Its average rose from around $288,000 to almost $310,000.

Using data fromZillow, we sorted states from lowest to highest average home value. We also noted each state’s region size ranking, which represents how big it is population-wise; California is ranked No. 1 with the largest population of all states, while Wyoming is ranked No. 51 (the ranking includes Washington, DC). It’s important to remember that these are the average home prices in each state, but what you get for that amount of money varies greatly from city to city, and even neighborhood to neighborhood. Example listings cited from bothZillow andTrulia can help give a better idea of what a home will look like for the average cost in the state it resides.

Keep reading for a complete look at the average home value for listings across the United States.

51. West Virginia – $96,300

West Virginia ranks as the cheapest state to buy a house and is the only location with a median home value of less than $100,000. The average cost is around $96,000: For this price, interested buyers can finda forest green starter home in Lansing or a3-bedroom home in Winfield.

Region Size Rank: 37

50. Oklahoma – $123,500

Jumping above the $100,000 mark, Oklahoma homes around the median value includea 2-bedroom, 2-bathroom home in Mead.

Region Size Rank: 28

49. Arkansas – $126,800

Arkansas’ median home value is close to $127,000. Two homes close to that price includea $126,900 house in Mountain Home, along witha one-level single-family home in Maumelle.

Region Size Rank: 32

48. Mississippi – $128,400

For around $128,000, interested buyers can purchasea home in Gulfport, Mississippi with a split-bedroom plan.

Region Size Rank: 31

47. Alabama – $130,600

Like many other states, Alabama homes vary depending on the neighborhood. Examples of homes around the $130,600 median includea Greenville home built in 1903,a 3-bedroom, 2-bathroom home in a Troy neighborhood, anda completely remodeled home nearby Alabama State University.

Region Size Rank: 23

46. Ohio – $139,100

Homes priced around Ohio’s median home value includea three-bedroom house in Wheelersburg anda one-bedroom home in Cincinnati.

Region Size Rank: 7

45. Kansas – $140,800

Kansas’ median home value is $140,800. For $140,000 interested buyers can purchasea 4-bedroom, 1.5 bath house in Kiowa, ora 2-story home in Kansas City for $145,000.

Region Size Rank: 33

44. Iowa – $142,800

Homes in Iowa listed for around the median price of $142,800 includea small, 2-bedroom brick home in Windsor Heights anda ranch-style house in West Point.

Region Size Rank: 30

43. Indiana – $144,500

Close to Indiana’s average home value, two $145,000 are currently on the market:a 2-level home in Shelbyville anda 2-bedroom, 2-bath home in Indianapolis.

Region Size Rank: 15

42. Kentucky – $144,800

Kentucky’s median home value is also around $145,000. Four examples includea 3-bedroom home in Louisville,a spacious home built in 1880 in Cave City, anda 5-year-old home in Water Valley.

Region Size Rank: 26

41. Louisiana – $145,900

In Louisiana, botha New Orleans apartment anda Martinville 3-bedroom, 2-bathroom home are on the market for $150,000 — roughly $4,000 more than the state average of $145,900.

Region Size Rank: 25

40. Michigan – $151,700

In Michigan, botha 1-bedroom, 1-bathroom condo in Grand Rapids anda 2-bedroom, 2-bathroom home in Portage are listed for $152,000. Additionally,an apartment in Detroit is also available for the same price.

Region Size Rank: 8

39. Missouri – $161,500

In St. Louis — one of Missouri’s major cities — interested buyers can purchasea 2-bedroom, 1-bathroom home ora 2-bedroom, 2-bathroom condo. Outside of the city, much more spacious properties are available, includinga Van Buren home with two master bedrooms anda former motel in Cabool.

Region Size Rank: 18

38. Nebraska – $164,900

Two suburban homes listed for $166,000 — roughly $1,000 more than the average value in Nebraska — includea three-bedroom, two-bathroom home in Chapman anda three-bedroom, three-bathroom home in Fairbury.

Region Size Rank: 38

37. South Carolina – $166,300

In South Carolina, homes listed for prices close to the median vary depending on location to the beach. In Myrtle Beach,a home for $166,900 is townhouse-sized; in Columbia,a home for $166,500 has three bedrooms, a porch, and a pond in the backyard.

Region Size Rank: 24

36. Tennessee – $166,900

Listed around Tennessee’s median home value,a five-bedroom home in Memphis anda two-bedroom condo in Nashville are both currently on the market.

Region Size Rank: 17

35. Pennsylvania – $173,200

Between $173,000 and $174,000, homes for sale in Pennsylvaniainclude a townhouse in Philadelphia anda home in Herndon, a town on the Susquehanna River.

Region Size Rank: 6

34. Illinois – $180,900

In Illinois, homes listed around $180,000 vary depending on city and neighborhood. In Chicago alone, $180,000 can buya 3-bedroom, 2-bathroom home,a studio apartment, ora Victorian residence intended to be a bed-and-breakfast.

Region Size Rank: 5

33. North Carolina – $184,200

For $184,900, interested buyers can purchasea condo in Charlotte, North Carolina. Other listings around the state median value includea home in the Blue Ridge Mountains anda townhome in Mooresville.

Region Size Rank: 10

32. Wisconsin – $187,100

Homes with a sticker price close to the Wisconsin median include housesin Marengo and i n Milwaukee. Both homes are listed for $187,000 — $100 less than the state average.

Region Size Rank: 20

31. Georgia – $188,300

A Grovetown home is currently priced at Georgia’s state average home value, whilean Atlanta apartment is available for a few hundred dollars more.

Region Size Rank: 9

30. South Dakota – $188,600

A five-bedroom home is currently on the market for $189,000 in Scotland, South Dakota.

Region Size Rank: 46

29. New Mexico – $195,700

A four-bedroom home joined New Mexico’s available listings last month — the houseis priced at $195,500.

Region Size Rank: 36

28. Texas – $196,700

For around $196,500, properties in Texas range in size and location:a condo in South Padre,a San Antonio single-story house, anda suburban Dallas home.

Region Size Rank: 2

27. Vermont – $201,700

An example of a Vermont home on the market for around $200,000 isa ranch-style home for sale in Saint Albans.

Region Size Rank: 49

26. North Dakota – $206,600

Currently, the only homes listed in North Dakota for around $206,600 includeforthcoming units in Fargo.

Region Size Rank: 48

25. Wyoming – $227,100

A ranch-style home iscurrently on the market for around the state’s median home value price.

Region Size Rank: 51

24. Maine – $232,600

Homes for sale in Maine between $232,000 and $235,000 include housesin Chelsea andin New Canada— both with four bedrooms.

Region Size Rank: 41

23. Florida – $233,300

A new home in Homosassa, Florida is currently listed for the median home value price. In addition — for just a few thousand dollars more — $235,000 can buya small house ora condo in Fort Lauderdale.

Region Size Rank: 4

22. Minnesota – $235,700

Minnesota’s median home value is $235,700. For $236,000, interested buyers can purchasea brownstone condo in Minneapolis ora five-bedroom house in Elbow Lake. The latter includes four smaller bedrooms in addition to the owner’s suite.

Region Size Rank: 21

21. Delaware – $237,300

Two homes currently on the market includea four-bedroom home in Dover anda historic townhouse in Wilmington. A two-bedroom, two-bathroom homein Bethany Beach is also available for a similar price.

Region Size Rank: 45

20. Montana – $237,500

Two homes listed in Montana for $237,500 includea three-bedroom home in Hamilton anda two-bedroom home in Bozeman.

Region Size Rank: 44

19. Connecticut – $243,700

Connecticut’s median home value is $243,700. For around that price,an apartment is available in Hartford anda four-bedroom home is available in Stratford.

Region Size Rank: 29

18. Arizona – $252,900

A four-bedroom, 2.5-bathroom home in Phoenix iscurrently on the market for exactly $252,900. Additionally,a $252,500 home is for sale in San Tan Valley anda $247,500 home is for sale in Yuma.

Region Size Rank: 16

17. Virginia – $258,600

In recent years, botha four-bedroom home in Suffolk anda 3-bedroom home in Virginia Beach have sold for $258,600.

Region Size Rank: 12

16. Idaho – $265,400

In Twin Falls, Idaho,a five-bedroom home is currently on the market for $266,000.

Region Size Rank: 39

15. New Hampshire – $276,400

There are currently no homes listed on Zillow or Trulia close to New Hampshire’s median home value; however, a $276,400 home in Salemsold in the past few years.

Region Size Rank: 42

14. Rhode Island – $280,600

A two-bedroom, two-bathroom home in Providence is currently listed for close to the state’s median price.

Region Size Rank: 43

13. Maryland – $290,000

For the state median price of $290,000, interested homeowners can view homesin Baltimore andAnnapolis.

Region Size Rank: 19

12. Nevada – $293,500

Nevada’s real estate market currently offersa 3-bedroom home in Las Vegas for $293,500, along witha 3-bedroom condo in Reno.

Region Size Rank: 35

11. New York – $298,100

In New York — for prices around the state’s median — interested buyers can purchasean apartment in Queens ora four-bedroom home in Pittsford, a suburb of Rochester.

Region Size Rank: 3

10. Alaska – $309,500

For around the state’s median of $309,500, homes are currently on the market inKodiak,Anchorage, andJuneau, Alaska.

Region Size Rank: 47

9. New Jersey – $327,700

For around $327,500, interested buyers can purchasea condo in Wildwood ora four-bedroom home in the suburbs of Cherry Hill.

Region Size Rank: 11

8. Utah – $341,600

Two new, single-family homes in Vineyard are available for around Utah’s median home price. Onefeatures four bedrooms, whilethe other features three.

Region Size Rank: 34

7. Oregon – $346,000

In Oregon, condos in Portland are listed for $345,000 — includinga one-bedroom, one-bathroom complex in Irvington anda two-bedroom, two-bathroom in Goose Hollow. Additionally,a three-bedroom, three-bathroom home is available in Bend.

Region Size Rank: 27

6. Colorado – $379,300

For around $379,000, properties around the state of Colorado vary:a small, 2-bedroom house in Denver,a mountain retreat in Bayfield,a suburban home in Colorado Springs, andan empty lot in Alamosa.

Region Size Rank: 22

5. Washington – $385,800

In Seattle, Washington, there are several apartments, co-ops, and condos listed for around $385,000 — includinga condo downtown.A small house is also available in the area for the same price, along witha larger home in the suburbs of Vancouver, Washington (whichborders Portland, Oregon).

Region Size Rank: 13

4. Massachusetts – $407,700

For around $410,000, interested buyers can viewa newly-renovated, three-bedroom apartment in Boston, along witha large property in Somerset.

Region Size Rank: 14

3. California – $548,000

Prices in California vary depending on which city houses are located near — many of which are some of the nation’s most expensive locations. For $548,000, interested buyers can look ata home located on Big Bear Lake ora condo in Ventura. The closest-priced home in San Francisco isa $560,000 studio apartment.

Region Size Rank: 1

2. District of Columbia – $574,100

The nation’s capital is ranked second in terms of median home value. Listings around $574,000 includea townhouse anda condo— quite smaller than the large homes available in other states for much lower prices.

Region Size Rank: 50

1. Hawaii – $616,000

The most expensive state median is Hawaii, with an average of over $600,000. For around the average price, interested buyers can look at $618,000 homes for salein Kailua Kona andin Honolulu.

Region Size Rank: 40

Source: Read Full Article