Here's the typical home price in every state — and what you can actually get for that money

[Hamartia Antidote]

Seems the median home in the US is pretty nice.

https://www.businessinsider.com/average-home-prices-in-every-state-washington-dc-2019-6

Here's the typical home price in every state — and what you can actually get for that money
Marissa Perino and Dominic-Madori Davis

Jan 13, 2020, 1:26 PM

A "For Sale" sign is seen in front of a single-family home for sale in Park Ridge, Illinois.
Tim Boyle/Getty Images

The typical cost of a home varies greatly from state to state.

We teamed up with Zillow to find the median home value of each of the 50 states in the US, in addition to Washington, DC. While there was some fluctuation from last year's numbers, the highest and lowest state medians are the same: West Virginia remains the cheapest with a median home value of $108,236, while Hawaii holds its position as the most expensive, with a median home value of $636,451.

For some states, this median value is heavily impacted by the typical 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's unaffordable Seattle neighborhoods due to the tech boom.

Using data from Zillow, Business Insider sorted states from lowest to highest median 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.

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

51. West Virginia - $108,236

Steve Heap/Shutterstock
West Virginia ranks as the cheapest state to buy a house. Interested buyers can find a 3-bedroom, 1-bathroom home in Fayetteville for $79,900 or a .88 acre lot in Fayetteville for $65,000.

Region Size Rank: 37

50. Mississippi - $126,502

Sean Pavone/Shutterstock
Interested buyers can purchase a home in Gulfport, Mississippi with 3 bedrooms and 2 bathrooms.

Region Size Rank: 31

49. Arkansas - $128,101

A residential street in Arkansas.
Shutterstock/shuttersv
Arkansas' median home value is close to $128,000, and for this price one can buy a home with 3 bedrooms and 2 bathrooms in Van Buren.

Region Size Rank: 32

48. Oklahoma - $128,934

A home in Oklahoma.
By DiegoMariottini/Shutterstock
Oklahoma homes listed for around the median value include a 3-bedroom, 2-bathroom home in Duncan.

Region Size Rank: 28

47. Alabama - $138,975

"Sweet Home Alabama" sign.
Shutterstock/Andriy Blokhin
For around the median home price, one could buy a 3-bedroom, 2 bathroom home in Bessemer, Alabama or a 11.6 acre lot in Guntersville.

Region Size Rank: 23

46. Kentucky - $146,871

A farm house in Kentucky.
Shutterstock/Anne Kitzman
Kentucky's median home value is just north of $146,000. For this price, one could buy a 3-bedroom, 2-bathroom home in Henderson, or a 4-bedroom, 2-bathroom home in Dayton.

Region Size Rank: 26

45. Ohio - $150,374

Houses outside Columbus, Ohio.
Shutterstock/aceshot1
Homes priced around Ohio's median home value include a 4-bedroom, 2-bathroom home in Lorain, or a 3-bedroom, 1-bathroom in Canal Fulton.

Region Size Rank: 7

44. Kansas - $150,657

An aerial view of Kansas City.
A G Baxter/Shutterstock
Kansas' median home value is $150,657. For around that price, buyers can purchase a 4-bedroom, 3-bathroom home in Independence or a 58.6 acre lot in Wellington.

Region Size Rank: 33

43. Iowa - $152,885

Aerial image of single-family homes in Bettendorf, Iowa.
Shutterstock/Felix Mizioznikov
Homes in Iowa listed for around the median price include a 3-bedroom, 2-bathroom home in Cedar Rapids, or a 5-bedroom, 1.5-bathroom home in Ames.

Region Size Rank: 30

42. Indiana - $155,640

An aerial view of homes in Indiana.
Shutterstock/Brad Whitsitt
Close to Indiana's median home value, there is a 3-bedroom, 2-bathroom home in Jasper, or a 3-bedroom, 3-bathroom home in South Bend.

Region Size Rank: 15

41. Missouri - $162,464

An aerial view of neighborhoods outside St. Louis, Missouri.
Shutterstock/MeinPhoto
In St. Louis — one of Missouri's major cities — interested buyers can purchase a 3-bedroom, 2-bathroom in Elsberry, or a 3-bedroom, 3-bathroom home in Independence.

Region Size Rank: 18

40. Louisiana - $166,565

An aerial view of New Orleans neighborhoods.
Sean Pavone/Shutterstock

 

[Hamartia Antidote]

39. Michigan - $173,277

A row of houses on a suburban street in the village of Bellaire in Michigan.
Kemboslice/Shutterstock
In Michigan for around the median home price, one could buy a 4-bedroom, 2-bathroom home in Roscommon, or a 4-bedroom, 1-bathroom in Potiac.

Region Size Rank: 8

38. Nebraska - $175,884

A view of Lincoln, Nebraska.
Christopher Boswell/Shutterstock
Two suburban homes listed for the median home price include a 3-bedroom, 2-bathroom home in Omaha, or an apartment with 3-bedrooms and 3-bathrooms in Auburn.

Region Size Rank: 38

37. South Carolina - $185,749

Residential homes in South Carolina.
Shutterstock/MarynaG
In South Carolina, homes listed for prices close to the median vary depending on location to the beach.

In Myrtle Beach, one could buy a 2-bedroom, 2.5-bathroom home totalling 1,736 square feet. Meanwhile, for the same price, in Columbia, one could buy a 4-bedroom, 2.5-bathroom totalling 2,169 square feet.

Region Size Rank: 24

36. Tennessee - $185,922

A typical suburb housing subdivision in Knoxville, Tennessee.
Shutterstock/NaturalStock
Listed around Tennessee's median home value, there is a 3-bedroom, 2-bathroom home in Memphis, or a 3-bedroom, 1.5-bathroom in White House.

Region Size Rank: 17

35. Pennsylvania - $194,603

An aerial view of West Chester, Pennsylvania.
Shutterstock/LittleKitty
For the median home price in Pennsylvania, one could buy a 5-bedroom, 2-bathroom home in Bristol, or a 3-bedroom, 2-bathroom home in Glenolden.

Region Size Rank: 6

34. Georgia - $201,294

photo.ua/Shutterstock
For the median home price in Georgia, one could buy a 4-bedroom, 2-bathroom home in Covington, or a 3-bedroom, 3-bathroom home in Ardairsville.

Region Size Rank: 9

33. Wisconsin - $202,029

Raymond Boyd / Getty Images
Homes with a sticker price close to the Wisconsin median include houses a 3-bedroom, 2-bathroom home in Rice Lake, and a 5-bedroom, 2.5-bathroom in Plover.

Region Size Rank: 20

32. North Carolina - $202,215

A neighborhood street in Raleigh, North Carolina.
Shutterstock / maxi_kore
For around the median home price in North Carolina, one can buy a 4-bedroom, 2-bathroom home in Winston Salem, or a .3 acre lot in Oak Island.

Region Size Rank: 10

31. Illinois - $202,675

A home in Chicago, Illinois.
Thomas Barrat/Shutterstock
In Illinois, homes listed for around the median home price includes a 3-bedroom, 2-bathroom home in Summit, and a 1.23 acre lot in Forsyth.

Region Size Rank: 5

30. New Mexico - $203,675

Homes in New Mexico.
turtix/Shutterstock
For around the median home price, one could buy a 3-bedroom, 3.5 bathroom home in Albuquerque or a 4-bedroom, 3-bathroom home in Rio Rancho.

Region Size Rank: 36

29. South Dakota - $205,567

Looking down on the eastern suburbs of Rapid City, South Dakota.
Hank Shiffman/Shutterstock
For around the median home price, one could buy a .79 acre lot in Sioux Falls, or a 4-bedroom, 1-bathroom home in Monroe.

Region Size Rank: 46

28. Texas - $207,301

Houses in the Fort Worth-Dallas area.
Shutterstock/Trong Nguyen
For around the median home price, one could buy a 3-bedroom, 2-bathroom home in Cleburne, or a 3-bedroom, 3-bathroom home in El Paso.

Region Size Rank: 2

27. North Dakota - $235,012

A home in North Dakota.
Bob Pool/Shutterstock
Currently, there is a 3-bedroom, 1-bathroom home in Dickinson, and a 3-bedroom, 2-bathroom home in Watford City available for around the median home price.

Region Size Rank: 48

26. Maine - $242,316
Portland, Maine.
Sean Pavone/Shutterstock
Homes for sale in Maine for just under the median home price include a 4-bedroom, 2-bathroom home in Springvale and a 26.9 acre lot in Kennebunkport.

Region Size Rank: 41

25. Florida - $245,169

A subdivision in Florida located beside a lake.
Shutterstock/TDKvisuals
For around the median home price, one could buy a 3-bedroom, 1-bathroom home in Miami or a 4-bedroom, 2-bathroom home in Palm Coast.

Region Size Rank: 4

24. Wyoming - $250,890

Upscale residential neighborhood in Jackson, Wyoming.
Shutterstock/Ken Schulze
For around the median home price, one could buy a 5-bedroom, 2-bathroom home in Gillette, or a .39 acre lot in Cheyenne.

Region Size Rank: 51

23. Delaware - $254,108

Waterfront homes in Bethany Beach, Delaware.
Khairil Azhar Junos/Shutterstock
Two homes currently on the market include a 3-bedroom, 3-bathroom home in Millsboro, or a 9-bedroom, 3-bathroom home in Middletown.

Region Size Rank: 45

22. Vermont - $254,234

Rural homes in Stowe, Vermont.
Shutterstock/DonLand
An example of a Vermont home on the market for around the median home price include a 4-bedroom, 4-bathroom home in Brattleboro, and a 3-bedroom, 3-bathroom in West Dover.

Region Size Rank: 49

21. Connecticut - $255,555

Homes in Quinnipiac River Park in New Haven, Connecticut.
Shutterstock/Christian Hinkle
For around the median home price, one could buy a 3-bedroom, 2-bathroom home in East Haven, or a 4-bedroom, 2-bathroom home in Ansonia.

Region Size Rank: 29

20. Minnesota - $256,857

Residential houses in Minnesota.
Shutterstock/nikitsin.smugmug.com
For around the median home price, one could buy a 3-bedroom, 2-bathroom home in Mayer, or a 4-bedroom, 2-bathroom home in South Saint Paul.

Region Size Rank: 21

 

[Hamartia Antidote]

19. Arizona - $268,765

Sean Pavone/Shutterstock
For around the median home price, one would buy a 4-bedroom, 2-bathroom home in Marana or a 3-bedroom, 2-bathroom in Goodyear.

Region Size Rank: 16

18. Montana - $277,801

A red farmhouse in Montana.
Shutterstock/Khairil Azhar Junos
Two homes listed in Montana for the median home price include a 5-bedroom, 2-bathroom home in Sidney, and a 2-bedroom, 3-bathroom home in Missoula.

Region Size Rank: 44

17. Virginia - $285,229

An aerial view of Leesburg, Virginia from the Red Rocks Overlook.
Shutterstock/Nicole S Glass
For around the median home price, one could buy a 5-bedroom, 3-bathroom home in Chesapeake, or a 3-bedroom, 3-bathroom in Suffolk.

Region Size Rank: 12

16. Idaho - $285,982

Rooftops of Boise, Idaho with Rocky Mountains.
Shutterstock/Paul W Thompson
For around the median home price, one could buy a 4-bedroom, 2-bathroom home in Sterling Ranch or a 3-bedroom, 2-bathroom home in Fairhaven.

Region Size Rank: 39

15. New Hampshire - $290,163

Homes in New Hampshire.
Shutterstock/Sean Pavone
For around the median home price, one could buy a 3-bedroom, 1-bathroom home in Auburn, or a 2-bedroom, 2-bathroom in Exeter.

Region Size Rank: 42

14. Rhode Island - $300,808

A residential street in the Fox Point neighborhood of Providence, Rhode Island.
Shuttershock/Jon Bilous
For about the median home price, one could buy a 9-bedroom, 3-bathroom home in Pawtucket, or a 3-bedroom, 1-bathroom in North Kingstown.

Region Size Rank: 43

13. Alaska - $300,889

Homes in Ketchikan, Alaska.
Shutterstock/Ros Fraser
For around the state's median price, one could buy a 1.03 acre lot in Anchorage, or a 4-bedroom, 2-bathroom in Palmer.

Region Size Rank: 47

12. Nevada - $301,753

Aerial view of modern homes in the area of Las Vegas, Nevada.
Shutterstock/trekandshoot
Nevada's real estate market currently offers a 3-bedroom, 2-bathroom home in Henderson and a 3-bedroom, 3-bathroom home in Las Vegas for the state's median home price.

Region Size Rank: 35

11. Maryland - $308,041

An aerial of a neighborhood in Baltimore County, Maryland.
Shutterstock/Christian Hinkle
For the state median price, one could buy a 3-bedroom, 3-bathroom home in Huningtown, ora 3-bedroom, 3-bathroom townhouse in Brandywine.

Region Size Rank: 19

10. New York - $321,934

Suburban neighborhood street in Rochester, New York.
Shutterstock/debra millet
In New York — for prices around the state's median — one could buy a 4-bedroom, 2.5-bathroom home in New Paltz or a 4-bedroom, 3-bedroom home in Onondaga.

Region Size Rank: 3

9. New Jersey - $335,607

Aerial cityscape of Dover, New Jersey.
Shutterstock/mandritoiu
For around the median home price, one could buy a 1-bedroom, 2-bathroom house in Manalapan, or a 3-bedroom, 2-bathroom home in Long Branch.

Region Size Rank: 11

8. Utah - $348,376

A residential area in Utah.
Rob Hammer / Getty Images
For the median home price, one could buy a 3-bedroom, 1.75-bathroom in Murray, or a8.28 acre lot in Duck Creek Village.

Region Size Rank: 34

7. Oregon - $361,970

Bend, Oregon — one of the fastest growing cities in America.
Mike Albright Photography/Shutterstock
For around the median home price, one could buy a 4-bedroom, 3-bathroom house in Mcminnville or a 4-bedroom, 1.2-bathroom in Beaverton.

Region Size Rank: 27

6. Colorado - $397,820

Suburban subdivision in town of Erie, Colorado.
f11photo/Shutterstock
For around the median home price, one can buy a 4-bedroom, 2-bathroom home in Aurora, or a 3-bedroom, 3-bathroom home in Johnstown.

Region Size Rank: 22

5. Washington - $409,228

Aerial drone photo of residential real estate in West Seattle, Washington.
Sean Pavone/Shutterstock
In Seattle, Washington, there are several apartments, co-ops, and condos listed for around the median home price, including an 884-square-foot 2-bedroom, 2-bathroom condo and a 1-bedroom, 1-bathroom 769-square-foot condo.

Region Size Rank: 13

4. Massachusetts - $422,856

A street in Cambridge city in Massachusetts. (no, it isn't Business Insider)
Sean Pavone/Shutterstock
For around the median home price, one could buy a 3-bedroom, 2-bathroom home in East Sandwich, or a 4-bedroom, 2-bathroom home in Pocasset.

Region Size Rank: 14

3. California - $554,886

A aerial view of a California neighborhood.
trekandshoot/Shutterstock
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 the median home price, one can get a 3-bedroom, 2-bathroom house in San Juan Capistrano, or a 4-bedroom, 2-bedroom home in San Diego.

Region Size Rank: 1

2. District of Columbia - $626,911

A residential home in the DC area.
Sean Pavone/Shutterstock
The nation's capital is ranked second in terms of median home value. For the median home price, one could buy a 3-bedroom, 1-bathroom home, or a 2,818 square-foot lot.

Region Size Rank: 50

1. Hawaii - $636,451

Hawaiian hillside homes.
rawmn/Shutterstock
The most expensive state median is Hawaii, with an average of over $600,000. For around the average price, interested buyers can buy a 2-bedroom, 1-bathroom home in Wahiawa, or a 2-bedroom, 2-bathroom home in Ewa Beach.

Region Size Rank: 40

 

[TruthSeeker]

Another aspect of the USA system is that working people who have managed their credit responsibly can obtain 30-year mortgages for 90% of the purchase price up to ~ 4X their joint family income. The USA mortgage system is key to enabling home ownership to such a large percentage of the population, ~ 64%.

 

[WebMaster]

Another aspect of the USA system is that working people who have managed their credit responsibly can obtain 30-year mortgages for 90% of the purchase price up to ~ 4X their joint family income. The USA mortgage system is key to enabling home ownership to such a large percentage of the population, ~ 64%.

This is over all good for the business and the people. I don't know how this will come into play in Pakistan, where interest is haram. Maybe Islamic loans will be a good alternative.

 

[KungFuLee]

Wow, house in the US is cheap.

In Sydney, the average house price is $1.2 Millions or $820,000 USD (house not apartment) and depending on suburb. You can pay 2 millions Australian Dollars for a broken and depilated houses in high earning suburb just for the land. In Penrith, house price is around 700,000 to 800,000, and that is the low end because it is around 70km from City CBD. Melbourne is slightly cheaper, it cost somewhere between 900,000 to 1 millions AUD. Then Brisbane, then Perth, then Adelaide, places like Hobart in the Tasmania is very cheap, still going to cost you an arm and a leg around $500,000 AUD per house

In Hong Kong, house is reserved for rich people. A 1 story house up in the hill cost around $20,000,000 HKD (around 2.6 millions USD), even a 300 square ft apartment, it will cost you around 7 millions HKD (~1 millions USD).

This is over all good for the business and the people. I don't know how this will come into play in Pakistan, where interest is haram. Maybe Islamic loans will be a good alternative.

Interest is Haram? As in not allowed?

 

[WebMaster]

Wow, house in the US is cheap.

In Sydney, the average house price is $1.2 Millions or $820,000 USD (house not apartment) and depending on suburb. You can pay 2 millions Australian Dollars for a broken and depilated houses in high earning suburb just for the land. In Penrith, house price is around 700,000 to 800,000, and that is the low end because it is around 70km from City CBD. Melbourne is slightly cheaper, it cost somewhere between 900,000 to 1 millions AUD. Then Brisbane, then Perth, then Adelaide, places like Hobart in the Tasmania is very cheap, still going to cost you an arm and a leg around $500,000 AUD per house

In Hong Kong, house is reserved for rich people. A 1 story house up in the hill cost around $20,000,000 HKD (around 2.6 millions USD), even a 300 square ft apartment, it will cost you around 7 millions HKD (~1 millions USD).



Interest is Haram? As in not allowed?

Yes, interest is not allowed in Islam.

 

[KungFuLee]

Yes, interest is not allowed in Islam.

So, you don't have loan in Islam or it's more like a co-op situation?

 

[WebMaster]

So, you don't have loan in Islam or it's more like a co-op situation?

There are Islamic loans that work differently but serve same purpose. Some people just rent and save until they can buy their own in cash.

 

[Hamartia Antidote]

There are Islamic loans that work differently but serve same purpose. Some people just rent and save until they can buy their own in cash.

They have Islamic loans here. I work with somebody who got one.

 

[mkg00179504]

I don't agree with this at all. I lived for the most part of my life in NYC and Long island. Right now i live in Nassau County Long island. I will say good luck getting a 4 bed and 2.5 bath here for 321,000. You are looking somewhere between 600,000-700,000 in good neighborhoods of Nassau and Suffolk country and if you want excellent neighborhood then its 800,000 and up. West Chester County just forget it property tax is a killer there.
The Houses in Long Island and West Chester country are expensive, but the real pain is the annual property taxes. having a Decent house in Nassau country Long Island you are looking at about 14000-16000 property taxes a year, now add mortgage to this with interest and maintenance well you are looking at big numbers.
Now the picture up there says house in Rochester NY. Well that's upstate NY and has nothing to do with Real NY which is New York City and the counties around it . In upstate NY you can get a beautiful house for 250,000. Buts its 6 Hours away from NYC. So do you really want to spend 250,000 there?

 

[Ray02589]

Wow, house in the US is cheap.

In Sydney, the average house price is $1.2 Millions or $820,000 USD (house not apartment) and depending on suburb. You can pay 2 millions Australian Dollars for a broken and depilated houses in high earning suburb just for the land. In Penrith, house price is around 700,000 to 800,000, and that is the low end because it is around 70km from City CBD. Melbourne is slightly cheaper, it cost somewhere between 900,000 to 1 millions AUD. Then Brisbane, then Perth, then Adelaide, places like Hobart in the Tasmania is very cheap, still going to cost you an arm and a leg around $500,000 AUD per house

In Hong Kong, house is reserved for rich people. A 1 story house up in the hill cost around $20,000,000 HKD (around 2.6 millions USD), even a 300 square ft apartment, it will cost you around 7 millions HKD (~1 millions USD).



Interest is Haram? As in not allowed?

The cost of holding property in the US is expensive and has become more so in resent years. Chicago has the lowest property values relative to income of any major global city. That's because a $1 million home costs $30,000 a year just in property taxes. Home insurance is an additional $10,000. So $40,000 is needed (a typical after-tax wage in the city) just to hold a property even if you don't have a mortgage. Since the great recession property taxes in Chicago have doubled even as home values have declined.

 

[Hamartia Antidote]

The cost of holding property in the US is expensive and has become more so in resent years. Chicago has the lowest property values relative to income of any major global city. That's because a $1 million home costs $30,000 a year just in property taxes. Home insurance is an additional $10,000. So $40,000 is needed (a typical after-tax wage in the city) just to hold a property even if you don't have a mortgage. Since the great recession property taxes in Chicago have doubled even as home values have declined.

That’s insane. You only pay $5000 in Boston for $1M house. In the suburbs it’s double that.

 

[xyxmt]

That’s insane. You only pay $5000 in Boston for $1M house. In the suburbs it’s double that.

I think you are exaggerating a bit, my friend in New Jersey whose house value is about half mil pays $12000 in property taxes and NJ is one of the most heavily taxed state. It also varies from township to township so township with less commercial property the residential property taxes are higher. This is still very high as compared to Toronto where I pay about 3200 in taxes for house worth a mil

 

[Hamartia Antidote]

I think you are exaggerating a bit, my friend in New Jersey whose house value is about half mil pays $12000 in property taxes and NJ is one of the most heavily taxed state. It also varies from township to township so township with less commercial property the residential property taxes are higher. This is still very high as compared to Toronto where I pay about 3200 in taxes for house worth a mil

Yep you are correct they raised the property tax rate to $10.56

https://www.boston.gov/departments/assessing/how-we-tax-your-property