Cheapest States to Buy a House

Map

Table

Introduction

The cost of buying a home varies greatly depending on where one is looking. Even in the states where on average the cost of homeownership is lower than in other states, the cost of owning a home can still be incredibly expensive depending on what a person’s criteria are.

One of the greatest determining factors that limits where people buy a home is usually where they work. Some people do live quite a distance away from their place of employment and commute to work every day. There are also exceptions, with people who work remotely for example, as they aren’t usually constrained by the physical limitations of their job. But generally speaking, people tend to live reasonably near their workplace, out of convenience.

Moreover, buying a house and paying a mortgage is often less expensive than renting, especially in the long run. For instance, while renting, people pay a monthly fee for the space they’re occupying. Likewise when you own a house, you usually have to pay off a mortgage loan through monthly payments. However, when you own a house, each payment builds equity and ultimately ends with an individual or a family fully owning the property they’ve paid for. While renting, however, people build no equity, and then they leave. If a person is lucky, they can find a great deal on a house they can invest in with their time as they pay it off. 

To learn more about the cheapest states to buy a house, scroll the charts.

#StateHome ValueAverage Home ValueMedian Home PriceMedian Rent Price
1West Virginia$62,107$126,115$291,300$732
2Arkansas$76,758$157,696$251,900$760
3Oklahoma$77,737$157,233$242,500$818
4Mississippi$78,781$146,876$257,300$789
5Alabama$85,984$179,358$295,900$811
6Kentucky$92,450$176,324$256,700$783
7Kansas$93,675$189,032$298,100$863
8Iowa$97,848$177,976$265,700$806
9Louisiana$104,542$190,229$266,000$876
10Ohio$105,633$187,162$236,700$825
11Michigan$109,207$207,493$249,100$892
12Indiana$111,984$192,337$245,300$844
13Missouri$114,580$202,083$251,900$843
14Tennessee$126,053$239,612$402,600$897
15Illinois$128,041$233,443$286,800$1,038
16Nebraska$130,894$220,718$279,900$857
17South Carolina$131,555$231,270$370,800$918
18Pennsylvania$136,144$237,674$290,700$958
19Georgia$146,226$252,762$376,700$1,042
20North Carolina$146,271$258,377$360,900$932
21Wisconsin$147,811$236,227$278,900$872
22Texas$151,418$255,023$389,100$1,082
23New Mexico$162,681$250,102$518,300$857
24New York$164,003$359,173$559,900$1,315
25North Dakota$169,867$255,566$828
26South Dakota$170,999$262,373$312,700$761
27Maine$186,679$314,191$348,600$873
28Florida$187,120$298,669$410,400$1,218
29Alaska$187,476$302,960$371,500$1,240
30Wyoming$190,733$291,215$853
31Minnesota$193,236$301,470$349,000$1,010
32Vermont$194,678$304,539$365,100$999
33Virginia$197,895$338,714$447,500$1,257
34Delaware$205,944$309,966$323,100$1,150
35Connecticut$207,917$316,225$368,900$1,201
36Maryland$224,163$366,162$416,800$1,415
37Montana$224,354$368,496$836
38New Hampshire$240,881$364,831$434,100$1,145
39Arizona$248,835$357,967$471,300$1,097
40New Jersey$252,282$406,423$454,500$1,368
41Nevada$265,439$369,138$465,000$1,159
42Rhode Island$281,162$373,094$429,200$1,031
43Idaho$294,707$428,378$521,200$887
44Oregon$321,006$453,856$527,600$1,173
45Colorado$332,062$490,123$624,000$1,335
46Massachusetts$333,378$514,230$604,200$1,336
47Utah$347,016$471,970$575,100$1,090
48Washington$347,311$518,215$668,400$1,337
49District of Columbia$406,475$666,990$1,607
50California$411,963$675,063$843,800$1,586
51Hawaii$417,767$740,097$715,900$1,651

Home Value by State

Alabama

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Home Value

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$85,984

Ranked in the US

#5

$179,358

Ranked in the US

#45

$295,900

Ranked in the US

#32

Ranked in the US

#45

Home Value

Average Home Value

Median Home Price

Median Rent Price

Alaska

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$187,476

Ranked in the US

#29

$302,960

Ranked in the US

#23

$371,500

Ranked in the US

#22

Ranked in the US

#11

Home Value

Average Home Value

Median Home Price

Median Rent Price

Arizona

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$248,835

Ranked in the US

#39

$357,967

Ranked in the US

#17

$471,300

Ranked in the US

#11

Ranked in the US

#18

Home Value

Average Home Value

Median Home Price

Median Rent Price

Arkansas

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$76,758

Ranked in the US

#2

$157,696

Ranked in the US

#48

$251,900

Ranked in the US

#42

Ranked in the US

#50

Home Value

Average Home Value

Median Home Price

Median Rent Price

California

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$411,963

Ranked in the US

#50

$675,063

Ranked in the US

#2

$843,800

Ranked in the US

#1

Ranked in the US

#3

Home Value

Average Home Value

Median Home Price

Median Rent Price

Colorado

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$332,062

Ranked in the US

#45

$490,123

Ranked in the US

#6

$624,000

Ranked in the US

#4

Ranked in the US

#8

Home Value

Average Home Value

Median Home Price

Median Rent Price

Connecticut

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$207,917

Ranked in the US

#35

$316,225

Ranked in the US

#19

$368,900

Ranked in the US

#24

Ranked in the US

#13

Home Value

Average Home Value

Median Home Price

Median Rent Price

Delaware

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$205,944

Ranked in the US

#34

$309,966

Ranked in the US

#21

$323,100

Ranked in the US

#29

Ranked in the US

#16

Home Value

Average Home Value

Median Home Price

Median Rent Price

District of Columbia

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$406,475

Ranked in the US

#49

$666,990

Ranked in the US

#3

Ranked in the US

#2

Home Value

Average Home Value

Median Rent Price

Florida

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$187,120

Ranked in the US

#28

$298,669

Ranked in the US

#25

$410,400

Ranked in the US

#18

Ranked in the US

#12

Home Value

Average Home Value

Median Home Price

Median Rent Price

Georgia

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$146,226

Ranked in the US

#19

$252,762

Ranked in the US

#31

$376,700

Ranked in the US

#21

Ranked in the US

#21

Home Value

Average Home Value

Median Home Price

Median Rent Price

Hawaii

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$417,767

Ranked in the US

#51

$740,097

Ranked in the US

#1

$715,900

Ranked in the US

#2

Ranked in the US

#1

Home Value

Average Home Value

Median Home Price

Median Rent Price

Idaho

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$294,707

Ranked in the US

#43

$428,378

Ranked in the US

#9

$521,200

Ranked in the US

#9

Ranked in the US

#31

Home Value

Average Home Value

Median Home Price

Median Rent Price

Illinois

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$128,041

Ranked in the US

#15

$233,443

Ranked in the US

#36

$286,800

Ranked in the US

#35

Ranked in the US

#22

Home Value

Average Home Value

Median Home Price

Median Rent Price

Indiana

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$111,984

Ranked in the US

#12

$192,337

Ranked in the US

#41

$245,300

Ranked in the US

#45

Ranked in the US

#39

Home Value

Average Home Value

Median Home Price

Median Rent Price

Iowa

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$97,848

Ranked in the US

#8

$177,976

Ranked in the US

#46

$265,700

Ranked in the US

#39

Ranked in the US

#46

Home Value

Average Home Value

Median Home Price

Median Rent Price

Kansas

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$93,675

Ranked in the US

#7

$189,032

Ranked in the US

#43

$298,100

Ranked in the US

#31

Ranked in the US

#35

Home Value

Average Home Value

Median Home Price

Median Rent Price

Kentucky

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$92,450

Ranked in the US

#6

$176,324

Ranked in the US

#47

$256,700

Ranked in the US

#41

Ranked in the US

#48

Home Value

Average Home Value

Median Home Price

Median Rent Price

Louisiana

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$104,542

Ranked in the US

#9

$190,229

Ranked in the US

#42

$266,000

Ranked in the US

#38

Ranked in the US

#32

Home Value

Average Home Value

Median Home Price

Median Rent Price

Maine

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$186,679

Ranked in the US

#27

$314,191

Ranked in the US

#20

$348,600

Ranked in the US

#28

Ranked in the US

#33

Home Value

Average Home Value

Median Home Price

Median Rent Price

Maryland

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$224,163

Ranked in the US

#36

$366,162

Ranked in the US

#14

$416,800

Ranked in the US

#17

Ranked in the US

#4

Home Value

Average Home Value

Median Home Price

Median Rent Price

Massachusetts

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$333,378

Ranked in the US

#46

$514,230

Ranked in the US

#5

$604,200

Ranked in the US

#5

Ranked in the US

#7

Home Value

Average Home Value

Median Home Price

Median Rent Price

Michigan

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$109,207

Ranked in the US

#11

$207,493

Ranked in the US

#39

$249,100

Ranked in the US

#44

Ranked in the US

#30

Home Value

Average Home Value

Median Home Price

Median Rent Price

Minnesota

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$193,236

Ranked in the US

#31

$301,470

Ranked in the US

#24

$349,000

Ranked in the US

#27

Ranked in the US

#24

Home Value

Average Home Value

Median Home Price

Median Rent Price

Mississippi

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$78,781

Ranked in the US

#4

$146,876

Ranked in the US

#50

$257,300

Ranked in the US

#40

Ranked in the US

#47

Home Value

Average Home Value

Median Home Price

Median Rent Price

Missouri

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$114,580

Ranked in the US

#13

$202,083

Ranked in the US

#40

$251,900

Ranked in the US

#43

Ranked in the US

#40

Home Value

Average Home Value

Median Home Price

Median Rent Price

Montana

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$224,354

Ranked in the US

#37

$368,496

Ranked in the US

#13

Ranked in the US

#41

Home Value

Average Home Value

Median Rent Price

Nebraska

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$130,894

Ranked in the US

#16

$220,718

Ranked in the US

#38

$279,900

Ranked in the US

#36

Ranked in the US

#36

Home Value

Average Home Value

Median Home Price

Median Rent Price

Nevada

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$265,439

Ranked in the US

#41

$369,138

Ranked in the US

#12

$465,000

Ranked in the US

#12

Ranked in the US

#15

Home Value

Average Home Value

Median Home Price

Median Rent Price

New Hampshire

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$240,881

Ranked in the US

#38

$364,831

Ranked in the US

#15

$434,100

Ranked in the US

#15

Ranked in the US

#17

Home Value

Average Home Value

Median Home Price

Median Rent Price

New Jersey

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$252,282

Ranked in the US

#40

$406,423

Ranked in the US

#10

$454,500

Ranked in the US

#13

Ranked in the US

#5

Home Value

Average Home Value

Median Home Price

Median Rent Price

New Mexico

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$162,681

Ranked in the US

#23

$250,102

Ranked in the US

#32

$518,300

Ranked in the US

#10

Ranked in the US

#37

Home Value

Average Home Value

Median Home Price

Median Rent Price

New York

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$164,003

Ranked in the US

#24

$359,173

Ranked in the US

#16

$559,900

Ranked in the US

#7

Ranked in the US

#9

Home Value

Average Home Value

Median Home Price

Median Rent Price

North Carolina

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$146,271

Ranked in the US

#20

$258,377

Ranked in the US

#28

$360,900

Ranked in the US

#26

Ranked in the US

#27

Home Value

Average Home Value

Median Home Price

Median Rent Price

North Dakota

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$169,867

Ranked in the US

#25

$255,566

Ranked in the US

#29

Ranked in the US

#42

Home Value

Average Home Value

Median Rent Price

Ohio

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$105,633

Ranked in the US

#10

$187,162

Ranked in the US

#44

$236,700

Ranked in the US

#47

Ranked in the US

#43

Home Value

Average Home Value

Median Home Price

Median Rent Price

Oklahoma

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$77,737

Ranked in the US

#3

$157,233

Ranked in the US

#49

$242,500

Ranked in the US

#46

Ranked in the US

#44

Home Value

Average Home Value

Median Home Price

Median Rent Price

Oregon

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$321,006

Ranked in the US

#44

$453,856

Ranked in the US

#8

$527,600

Ranked in the US

#8

Ranked in the US

#14

Home Value

Average Home Value

Median Home Price

Median Rent Price

Pennsylvania

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$136,144

Ranked in the US

#18

$237,674

Ranked in the US

#34

$290,700

Ranked in the US

#34

Ranked in the US

#26

Home Value

Average Home Value

Median Home Price

Median Rent Price

Rhode Island

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$281,162

Ranked in the US

#42

$373,094

Ranked in the US

#11

$429,200

Ranked in the US

#16

Ranked in the US

#23

Home Value

Average Home Value

Median Home Price

Median Rent Price

South Carolina

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$131,555

Ranked in the US

#17

$231,270

Ranked in the US

#37

$370,800

Ranked in the US

#23

Ranked in the US

#28

Home Value

Average Home Value

Median Home Price

Median Rent Price

South Dakota

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$170,999

Ranked in the US

#26

$262,373

Ranked in the US

#27

$312,700

Ranked in the US

#30

Ranked in the US

#49

Home Value

Average Home Value

Median Home Price

Median Rent Price

Tennessee

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$126,053

Ranked in the US

#14

$239,612

Ranked in the US

#33

$402,600

Ranked in the US

#19

Ranked in the US

#29

Home Value

Average Home Value

Median Home Price

Median Rent Price

Texas

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$151,418

Ranked in the US

#22

$255,023

Ranked in the US

#30

$389,100

Ranked in the US

#20

Ranked in the US

#20

Home Value

Average Home Value

Median Home Price

Median Rent Price

Utah

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$347,016

Ranked in the US

#47

$471,970

Ranked in the US

#7

$575,100

Ranked in the US

#6

Ranked in the US

#19

Home Value

Average Home Value

Median Home Price

Median Rent Price

Vermont

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$194,678

Ranked in the US

#32

$304,539

Ranked in the US

#22

$365,100

Ranked in the US

#25

Ranked in the US

#25

Home Value

Average Home Value

Median Home Price

Median Rent Price

Virginia

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$197,895

Ranked in the US

#33

$338,714

Ranked in the US

#18

$447,500

Ranked in the US

#14

Ranked in the US

#10

Home Value

Average Home Value

Median Home Price

Median Rent Price

Washington

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$347,311

Ranked in the US

#48

$518,215

Ranked in the US

#4

$668,400

Ranked in the US

#3

Ranked in the US

#6

Home Value

Average Home Value

Median Home Price

Median Rent Price

West Virginia

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$62,107

Ranked in the US

#1

$126,115

Ranked in the US

#51

$291,300

Ranked in the US

#33

Ranked in the US

#51

Home Value

Average Home Value

Median Home Price

Median Rent Price

Wisconsin

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$147,811

Ranked in the US

#21

$236,227

Ranked in the US

#35

$278,900

Ranked in the US

#37

Ranked in the US

#34

Home Value

Average Home Value

Median Home Price

Median Rent Price

Wyoming

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$190,733

Ranked in the US

#30

$291,215

Ranked in the US

#26

Ranked in the US

#38

Home Value

Average Home Value

Median Rent Price