Cheapest States to Buy a House

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.

Bottom-Tier Home Value by State

Alabama

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BOTTOM-TIER HOME VALUEhelp

$85,984

#6 in the US

TYPICAL HOME VALUEhelp

$179,358

#45 in the US

MEDIAN HOME SALE PRICEhelp

$295,900

#32 in the US

MEDIAN RENT VALUEhelp

$811

#45 in the US

Alaska

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BOTTOM-TIER HOME VALUEhelp

$187,476

#30 in the US

TYPICAL HOME VALUEhelp

$302,960

#23 in the US

MEDIAN HOME SALE PRICEhelp

$371,500

#22 in the US

MEDIAN RENT VALUEhelp

$1,240

#11 in the US

Arizona

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BOTTOM-TIER HOME VALUEhelp

$248,835

#40 in the US

TYPICAL HOME VALUEhelp

$357,967

#17 in the US

MEDIAN HOME SALE PRICEhelp

$471,300

#11 in the US

MEDIAN RENT VALUEhelp

$1,097

#18 in the US

Arkansas

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BOTTOM-TIER HOME VALUEhelp

$76,758

#3 in the US

TYPICAL HOME VALUEhelp

$157,696

#48 in the US

MEDIAN HOME SALE PRICEhelp

$251,900

#42 in the US

MEDIAN RENT VALUEhelp

$760

#50 in the US

California

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BOTTOM-TIER HOME VALUEhelp

$411,963

#51 in the US

TYPICAL HOME VALUEhelp

$675,063

#2 in the US

MEDIAN HOME SALE PRICEhelp

$843,800

#1 in the US

MEDIAN RENT VALUEhelp

$1,586

#3 in the US

Colorado

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BOTTOM-TIER HOME VALUEhelp

$332,062

#46 in the US

TYPICAL HOME VALUEhelp

$490,123

#6 in the US

MEDIAN HOME SALE PRICEhelp

$624,000

#4 in the US

MEDIAN RENT VALUEhelp

$1,335

#8 in the US

Connecticut

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BOTTOM-TIER HOME VALUEhelp

$207,917

#36 in the US

TYPICAL HOME VALUEhelp

$316,225

#19 in the US

MEDIAN HOME SALE PRICEhelp

$368,900

#24 in the US

MEDIAN RENT VALUEhelp

$1,201

#13 in the US

Delaware

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BOTTOM-TIER HOME VALUEhelp

$205,944

#35 in the US

TYPICAL HOME VALUEhelp

$309,966

#21 in the US

MEDIAN HOME SALE PRICEhelp

$323,100

#29 in the US

MEDIAN RENT VALUEhelp

$1,150

#16 in the US

District of Columbia

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BOTTOM-TIER HOME VALUEhelp

$406,475

#50 in the US

TYPICAL HOME VALUEhelp

$666,990

#3 in the US

MEDIAN RENT VALUEhelp

$1,607

#2 in the US

Florida

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BOTTOM-TIER HOME VALUEhelp

$187,120

#29 in the US

TYPICAL HOME VALUEhelp

$298,669

#25 in the US

MEDIAN HOME SALE PRICEhelp

$410,400

#18 in the US

MEDIAN RENT VALUEhelp

$1,218

#12 in the US

Georgia

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BOTTOM-TIER HOME VALUEhelp

$146,226

#20 in the US

TYPICAL HOME VALUEhelp

$252,762

#31 in the US

MEDIAN HOME SALE PRICEhelp

$376,700

#21 in the US

MEDIAN RENT VALUEhelp

$1,042

#21 in the US

Hawaii

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BOTTOM-TIER HOME VALUEhelp

$417,767

#52 in the US

TYPICAL HOME VALUEhelp

$740,097

#1 in the US

MEDIAN HOME SALE PRICEhelp

$715,900

#2 in the US

MEDIAN RENT VALUEhelp

$1,651

#1 in the US

Idaho

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BOTTOM-TIER HOME VALUEhelp

$294,707

#44 in the US

TYPICAL HOME VALUEhelp

$428,378

#9 in the US

MEDIAN HOME SALE PRICEhelp

$521,200

#9 in the US

MEDIAN RENT VALUEhelp

$887

#31 in the US

Illinois

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BOTTOM-TIER HOME VALUEhelp

$128,041

#16 in the US

TYPICAL HOME VALUEhelp

$233,443

#36 in the US

MEDIAN HOME SALE PRICEhelp

$286,800

#35 in the US

MEDIAN RENT VALUEhelp

$1,038

#22 in the US

Indiana

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BOTTOM-TIER HOME VALUEhelp

$111,984

#13 in the US

TYPICAL HOME VALUEhelp

$192,337

#41 in the US

MEDIAN HOME SALE PRICEhelp

$245,300

#45 in the US

MEDIAN RENT VALUEhelp

$844

#39 in the US

Iowa

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BOTTOM-TIER HOME VALUEhelp

$97,848

#9 in the US

TYPICAL HOME VALUEhelp

$177,976

#46 in the US

MEDIAN HOME SALE PRICEhelp

$265,700

#39 in the US

MEDIAN RENT VALUEhelp

$806

#46 in the US

Kansas

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BOTTOM-TIER HOME VALUEhelp

$93,675

#8 in the US

TYPICAL HOME VALUEhelp

$189,032

#43 in the US

MEDIAN HOME SALE PRICEhelp

$298,100

#31 in the US

MEDIAN RENT VALUEhelp

$863

#35 in the US

Kentucky

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BOTTOM-TIER HOME VALUEhelp

$92,450

#7 in the US

TYPICAL HOME VALUEhelp

$176,324

#47 in the US

MEDIAN HOME SALE PRICEhelp

$256,700

#41 in the US

MEDIAN RENT VALUEhelp

$783

#48 in the US

Louisiana

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BOTTOM-TIER HOME VALUEhelp

$104,542

#10 in the US

TYPICAL HOME VALUEhelp

$190,229

#42 in the US

MEDIAN HOME SALE PRICEhelp

$266,000

#38 in the US

MEDIAN RENT VALUEhelp

$876

#32 in the US

Maine

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BOTTOM-TIER HOME VALUEhelp

$186,679

#28 in the US

TYPICAL HOME VALUEhelp

$314,191

#20 in the US

MEDIAN HOME SALE PRICEhelp

$348,600

#28 in the US

MEDIAN RENT VALUEhelp

$873

#33 in the US

Maryland

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BOTTOM-TIER HOME VALUEhelp

$224,163

#37 in the US

TYPICAL HOME VALUEhelp

$366,162

#14 in the US

MEDIAN HOME SALE PRICEhelp

$416,800

#17 in the US

MEDIAN RENT VALUEhelp

$1,415

#4 in the US

Massachusetts

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BOTTOM-TIER HOME VALUEhelp

$333,378

#47 in the US

TYPICAL HOME VALUEhelp

$514,230

#5 in the US

MEDIAN HOME SALE PRICEhelp

$604,200

#5 in the US

MEDIAN RENT VALUEhelp

$1,336

#7 in the US

Michigan

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BOTTOM-TIER HOME VALUEhelp

$109,207

#12 in the US

TYPICAL HOME VALUEhelp

$207,493

#39 in the US

MEDIAN HOME SALE PRICEhelp

$249,100

#44 in the US

MEDIAN RENT VALUEhelp

$892

#30 in the US

Minnesota

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BOTTOM-TIER HOME VALUEhelp

$193,236

#32 in the US

TYPICAL HOME VALUEhelp

$301,470

#24 in the US

MEDIAN HOME SALE PRICEhelp

$349,000

#27 in the US

MEDIAN RENT VALUEhelp

$1,010

#24 in the US

Mississippi

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BOTTOM-TIER HOME VALUEhelp

$78,781

#5 in the US

TYPICAL HOME VALUEhelp

$146,876

#50 in the US

MEDIAN HOME SALE PRICEhelp

$257,300

#40 in the US

MEDIAN RENT VALUEhelp

$789

#47 in the US

Missouri

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BOTTOM-TIER HOME VALUEhelp

$114,580

#14 in the US

TYPICAL HOME VALUEhelp

$202,083

#40 in the US

MEDIAN HOME SALE PRICEhelp

$251,900

#43 in the US

MEDIAN RENT VALUEhelp

$843

#40 in the US

Montana

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BOTTOM-TIER HOME VALUEhelp

$224,354

#38 in the US

TYPICAL HOME VALUEhelp

$368,496

#13 in the US

MEDIAN RENT VALUEhelp

$836

#41 in the US

Nebraska

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BOTTOM-TIER HOME VALUEhelp

$130,894

#17 in the US

TYPICAL HOME VALUEhelp

$220,718

#38 in the US

MEDIAN HOME SALE PRICEhelp

$279,900

#36 in the US

MEDIAN RENT VALUEhelp

$857

#36 in the US

Nevada

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BOTTOM-TIER HOME VALUEhelp

$265,439

#42 in the US

TYPICAL HOME VALUEhelp

$369,138

#12 in the US

MEDIAN HOME SALE PRICEhelp

$465,000

#12 in the US

MEDIAN RENT VALUEhelp

$1,159

#15 in the US

New Hampshire

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BOTTOM-TIER HOME VALUEhelp

$240,881

#39 in the US

TYPICAL HOME VALUEhelp

$364,831

#15 in the US

MEDIAN HOME SALE PRICEhelp

$434,100

#15 in the US

MEDIAN RENT VALUEhelp

$1,145

#17 in the US

New Jersey

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BOTTOM-TIER HOME VALUEhelp

$252,282

#41 in the US

TYPICAL HOME VALUEhelp

$406,423

#10 in the US

MEDIAN HOME SALE PRICEhelp

$454,500

#13 in the US

MEDIAN RENT VALUEhelp

$1,368

#5 in the US

New Mexico

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BOTTOM-TIER HOME VALUEhelp

$162,681

#24 in the US

TYPICAL HOME VALUEhelp

$250,102

#32 in the US

MEDIAN HOME SALE PRICEhelp

$518,300

#10 in the US

MEDIAN RENT VALUEhelp

$857

#37 in the US

New York

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BOTTOM-TIER HOME VALUEhelp

$164,003

#25 in the US

TYPICAL HOME VALUEhelp

$359,173

#16 in the US

MEDIAN HOME SALE PRICEhelp

$559,900

#7 in the US

MEDIAN RENT VALUEhelp

$1,315

#9 in the US

North Carolina

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BOTTOM-TIER HOME VALUEhelp

$146,271

#21 in the US

TYPICAL HOME VALUEhelp

$258,377

#28 in the US

MEDIAN HOME SALE PRICEhelp

$360,900

#26 in the US

MEDIAN RENT VALUEhelp

$932

#27 in the US

North Dakota

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BOTTOM-TIER HOME VALUEhelp

$169,867

#26 in the US

TYPICAL HOME VALUEhelp

$255,566

#29 in the US

MEDIAN RENT VALUEhelp

$828

#42 in the US

Ohio

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BOTTOM-TIER HOME VALUEhelp

$105,633

#11 in the US

TYPICAL HOME VALUEhelp

$187,162

#44 in the US

MEDIAN HOME SALE PRICEhelp

$236,700

#47 in the US

MEDIAN RENT VALUEhelp

$825

#43 in the US

Oklahoma

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BOTTOM-TIER HOME VALUEhelp

$77,737

#4 in the US

TYPICAL HOME VALUEhelp

$157,233

#49 in the US

MEDIAN HOME SALE PRICEhelp

$242,500

#46 in the US

MEDIAN RENT VALUEhelp

$818

#44 in the US

Oregon

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BOTTOM-TIER HOME VALUEhelp

$321,006

#45 in the US

TYPICAL HOME VALUEhelp

$453,856

#8 in the US

MEDIAN HOME SALE PRICEhelp

$527,600

#8 in the US

MEDIAN RENT VALUEhelp

$1,173

#14 in the US

Pennsylvania

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BOTTOM-TIER HOME VALUEhelp

$136,144

#19 in the US

TYPICAL HOME VALUEhelp

$237,674

#34 in the US

MEDIAN HOME SALE PRICEhelp

$290,700

#34 in the US

MEDIAN RENT VALUEhelp

$958

#26 in the US

Rhode Island

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BOTTOM-TIER HOME VALUEhelp

$281,162

#43 in the US

TYPICAL HOME VALUEhelp

$373,094

#11 in the US

MEDIAN HOME SALE PRICEhelp

$429,200

#16 in the US

MEDIAN RENT VALUEhelp

$1,031

#23 in the US

South Carolina

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BOTTOM-TIER HOME VALUEhelp

$131,555

#18 in the US

TYPICAL HOME VALUEhelp

$231,270

#37 in the US

MEDIAN HOME SALE PRICEhelp

$370,800

#23 in the US

MEDIAN RENT VALUEhelp

$918

#28 in the US

South Dakota

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BOTTOM-TIER HOME VALUEhelp

$170,999

#27 in the US

TYPICAL HOME VALUEhelp

$262,373

#27 in the US

MEDIAN HOME SALE PRICEhelp

$312,700

#30 in the US

MEDIAN RENT VALUEhelp

$761

#49 in the US

Tennessee

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BOTTOM-TIER HOME VALUEhelp

$126,053

#15 in the US

TYPICAL HOME VALUEhelp

$239,612

#33 in the US

MEDIAN HOME SALE PRICEhelp

$402,600

#19 in the US

MEDIAN RENT VALUEhelp

$897

#29 in the US

Texas

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BOTTOM-TIER HOME VALUEhelp

$151,418

#23 in the US

TYPICAL HOME VALUEhelp

$255,023

#30 in the US

MEDIAN HOME SALE PRICEhelp

$389,100

#20 in the US

MEDIAN RENT VALUEhelp

$1,082

#20 in the US

Utah

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BOTTOM-TIER HOME VALUEhelp

$347,016

#48 in the US

TYPICAL HOME VALUEhelp

$471,970

#7 in the US

MEDIAN HOME SALE PRICEhelp

$575,100

#6 in the US

MEDIAN RENT VALUEhelp

$1,090

#19 in the US

Vermont

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BOTTOM-TIER HOME VALUEhelp

$194,678

#33 in the US

TYPICAL HOME VALUEhelp

$304,539

#22 in the US

MEDIAN HOME SALE PRICEhelp

$365,100

#25 in the US

MEDIAN RENT VALUEhelp

$999

#25 in the US

Virginia

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BOTTOM-TIER HOME VALUEhelp

$197,895

#34 in the US

TYPICAL HOME VALUEhelp

$338,714

#18 in the US

MEDIAN HOME SALE PRICEhelp

$447,500

#14 in the US

MEDIAN RENT VALUEhelp

$1,257

#10 in the US

Washington

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BOTTOM-TIER HOME VALUEhelp

$347,311

#49 in the US

TYPICAL HOME VALUEhelp

$518,215

#4 in the US

MEDIAN HOME SALE PRICEhelp

$668,400

#3 in the US

MEDIAN RENT VALUEhelp

$1,337

#6 in the US

West Virginia

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BOTTOM-TIER HOME VALUEhelp

$62,107

#2 in the US

TYPICAL HOME VALUEhelp

$126,115

#51 in the US

MEDIAN HOME SALE PRICEhelp

$291,300

#33 in the US

MEDIAN RENT VALUEhelp

$732

#51 in the US

Wisconsin

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BOTTOM-TIER HOME VALUEhelp

$147,811

#22 in the US

TYPICAL HOME VALUEhelp

$236,227

#35 in the US

MEDIAN HOME SALE PRICEhelp

$278,900

#37 in the US

MEDIAN RENT VALUEhelp

$872

#34 in the US

Wyoming

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BOTTOM-TIER HOME VALUEhelp

$190,733

#31 in the US

TYPICAL HOME VALUEhelp

$291,215

#26 in the US

MEDIAN RENT VALUEhelp

$853

#38 in the US

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help

$0

#1 in the US

help

$0

#52 in the US

help

$0

#48 in the US