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1 day ago · Even in the state’s fastest-rising market—Burlington—the median home cost just $132,000 ($98 per square foot) in September 2023. The area with the second-highest rate of price increases ...
- Costs & Homeownership by State
- States with The Highest Median Home Price
- States with The Lowest Median Home Price
One way people are bringing down the cost of purchasing a home is by relocating. Location is the most significant contributor to housing costs, with a typical home in Hawaii, for example, costing more than six times a typical home in West Virginia. Home prices are highest in the Northeast and West, with the highest prices concentrated around the mo...
Hawaii
1. Price:$848,926 2. Size:1,309 sq. ft. 3. Cost per Square Foot:$649 4. Average downpayment (12%):$101,871 The median home in Hawaii is smaller than the national average while costing a great deal more. The median home in Hawaii is 1,300 square feet, approximately 70% of the national median of 1,800 square feet. The median price for a typical home in Hawaii is $848,926, more than twice the national average. Hawaii also has one of the country's lowest homeownership rates, with 59% of its resid...
California
1. Price:$760,800 2. Size:1,625 sq. ft. 3. Cost per Square Foot:$468 4. Average downpayment (12%):$91,296 California's homeownership rate is the second-lowest in the nation and the lowest among states, with only 54.2% of residents owning their homes. The state is notorious for its high housing costs, especially in the San Francisco and Los Angeles areas. Perhaps in part due to these high costs, California also has the nation's highest level of homelessness. The typical home in the state costs...
District of Columbia
1. Price:$701,895 2. Size:1,440 sq. ft. 3. Cost per Square Foot:$487 4. Average downpayment (12%):$84,227 The District of Columbia has the country's third-highest home prices and the lowest homeownership rate. Only 40.3% of residents own their homes. Those looking to buy can expect to pay $701,895 for a typical 1,440-square-foot home.
West Virginia
1. Price:$129,103 2. Size:1,714 sq. ft. 3. Cost per Square Foot:$75 4. Average downpayment (12%):$15,492 West Virginia boasts the country's lowest housing costs and its highest rates of homeownership. The typical home is 1,714 square feet and costs $129,103. Nearly 80% of residents own their homes. However, the state also consistently ranks among the worst states to live.
1. Price:$157,828 2. Size:1,879 sq. ft. 3. Cost per Square Foot:$84 4. Average downpayment (12%):$18,939 Mississippi home prices offer a considerable discount. The typical 1,879-square-foot home has a price tag of $157,828. The homeownership rate is also among the highest in the nation, at 74.8%. However, Mississippi also has the nation's highest poverty rate, with a fifth of its inhabitants living below the poverty line.
1. Price:$169,867 2. Size:1,792 sq. ft. 3. Cost per Square Foot:$95 4. Average downpayment (12%):$20,384 A typical home in Arkansas costs $169,867 and measures 1,792 square feet. Homeownership in the state is slightly higher than the national average, with 66.5% of residents owning their homes.
People also ask
How much does a home cost in the United States?
What is the average size of a home?
How much does a home cost in Hawaii?
What is the average size of a home in Hawaii?
The median home value in Hawaii is $587,700. The size of a typical home in Hawaii is about 1,209 square feet and 4.6 rooms. $200,000 would only get a homebuyer about 421 square feet. Those looking to rent won’t have much better luck, as Hawaii has the third-highest average rent price in the United State of $2,333 per month.
StateMedian Home Value$636,400$618,100$538,500$398,800- Average home value in Hawaii: $646,733. Median top-tier home value in 2020: $1,003,485. Median single-family house value in 2020: $727,931. Median bottom-tier home value in 2020: $380,055.
- Average home value in California: $579,332. Median top-tier home value in 2020: $1,065,479. Median bottom-tier home value in 2020: $346,944. Median single-family house value in 2020: $588,050.
- Average home value in Massachusetts: $439,541. Median top-tier home value in 2020: $732,598. Median single-family house value in 2020: $447,367. Median bottom-tier home value in 2020: $283,343.
- Average home value in Washington: $431,487. Median top-tier home value in 2020: $723,762. Median bottom-tier home value in 2020: $289,328. Median single-family house value in 2020: $437,442.
Jan 3, 2024 · With a median price tag of $228,000, per November 2023 Redfin data, Ohio claims the top spot as the most affordable place to buy a home in the U.S. Which state has the highest median home price ...
- David Mcmillin
- What’s the difference between median and average sale price?The median price is the middle value, which means that half the housing inventory in the area costs less and the other half costs more. An average...
- Which state has the highest median home price?California. The Golden State’s median price tag of $793,600, per November 2023 Redfin data, was more expensive than any other state in the country....
Mar 16, 2021 · But most households cannot comfortably afford to own a house, as our latest map of median U.S. home prices illustrates. Vermont is the least affordable state in the country, with only 16% of households able to easily afford a mortgage payment for a new median price home costing $476K.
As of the second quarter of 2023, the median home price in the U.S. was $416,100, according to the Federal Reserve Bank of St Louis. This is a significant drop from the end of 2022, when the median price in the fourth quarter was $479,500. However, it is still high compared to the end of 2020, when median prices were at $358,700.
