Introduction
Owning a home is a crucial part of coming into adulthood and is often considered as an indicator of success. This is generally because owning housing has gradually become more and more expensive, so having the financial means to do so is something one can be proud of.
The cost of home ownership generally varies on a state-by-state basis and is closely linked to the level of median income a state has. This is because households with a higher median income are more likely to purchase a home, and so house prices generally match this trend. There are notable exceptions to this rule, however, as house prices can be much higher in cities, and often vary from neighborhood to neighborhood.
When considering housing costs, you must also take into account the number of square feet that your budget will net you, and as previously mentioned, the location of the house within the state you are looking to move to/reside in.
If you would like to learn more about housing costs by state, please refer to the data in the charts.
| # | State | Average Home Value2 | Median Rent Price | Cost of Living Index |
|---|---|---|---|---|
| 1 | Hawaii | $740,097 | $1,651 | 184 |
| 2 | California | $675,063 | $1,586 | 137.6 |
| 3 | District of Columbia | $666,990 | $1,607 | 152.2 |
| 4 | Washington | $518,215 | $1,337 | 114.2 |
| 5 | Massachusetts | $514,230 | $1,336 | 149.7 |
| 6 | Colorado | $490,123 | $1,335 | 104.6 |
| 7 | Utah | $471,970 | $1,090 | 102.8 |
| 8 | Oregon | $453,856 | $1,173 | 121.2 |
| 9 | Idaho | $428,378 | $887 | 99.6 |
| 10 | New Jersey | $406,423 | $1,368 | 112.4 |
| 11 | Rhode Island | $373,094 | $1,031 | 112.9 |
| 12 | Nevada | $369,138 | $1,159 | 103.2 |
| 13 | Montana | $368,496 | $836 | 104.8 |
| 14 | Maryland | $366,162 | $1,415 | 124 |
| 15 | New Hampshire | $364,831 | $1,145 | 116.1 |
| 16 | New York | $359,173 | $1,315 | 134.5 |
| 17 | Arizona | $357,967 | $1,097 | 105.8 |
| 18 | Virginia | $338,714 | $1,257 | 102.8 |
| 19 | Connecticut | $316,225 | $1,201 | 116.8 |
| 20 | Maine | $314,191 | $873 | 115.3 |
| 21 | Delaware | $309,966 | $1,150 | 105.6 |
| 22 | Vermont | $304,539 | $999 | 115.9 |
| 23 | Alaska | $302,960 | $1,240 | 126.6 |
| 24 | Minnesota | $301,470 | $1,010 | 97.5 |
| 25 | Florida | $298,669 | $1,218 | 102.8 |
| 26 | Wyoming | $291,215 | $853 | 92.5 |
| 27 | South Dakota | $262,373 | $761 | 94.5 |
| 28 | North Carolina | $258,377 | $932 | 95.7 |
| 29 | North Dakota | $255,566 | $828 | 97.1 |
| 30 | Texas | $255,023 | $1,082 | 92.5 |
| 31 | Georgia | $252,762 | $1,042 | 88.6 |
| 32 | New Mexico | $250,102 | $857 | 94 |
| 33 | Tennessee | $239,612 | $897 | 90.2 |
| 34 | Pennsylvania | $237,674 | $958 | 98.2 |
| 35 | Wisconsin | $236,227 | $872 | 95.5 |
| 36 | Illinois | $233,443 | $1,038 | 92.6 |
| 37 | South Carolina | $231,270 | $918 | 94.3 |
| 38 | Nebraska | $220,718 | $857 | 91.9 |
| 39 | Michigan | $207,493 | $892 | 92.2 |
| 40 | Missouri | $202,083 | $843 | 89.1 |
| 41 | Indiana | $192,337 | $844 | 89.9 |
| 42 | Louisiana | $190,229 | $876 | 93.6 |
| 43 | Kansas | $189,032 | $863 | 87.5 |
| 44 | Ohio | $187,162 | $825 | 91.9 |
| 45 | Alabama | $179,358 | $811 | 88.1 |
| 46 | Iowa | $177,976 | $806 | 89.2 |
| 47 | Kentucky | $176,324 | $783 | 94.9 |
| 48 | Arkansas | $157,696 | $760 | 90.6 |
| 49 | Oklahoma | $157,233 | $818 | 85.8 |
| 50 | Mississippi | $146,876 | $789 | 85 |
| 51 | West Virginia | $126,115 | $732 | 90 |
Average Home Value2 by State
Alabama
Average Home Value2
$179,358
Ranked in the US
#45
Ranked in the US
#45
Cost of Living Index
88.1
Ranked in the US
#48
Alaska
Average Home Value2
$302,960
Ranked in the US
#23
$1,240
Ranked in the US
#11
Cost of Living Index
126.6
Ranked in the US
#6
Arizona
Average Home Value2
$357,967
Ranked in the US
#17
$1,097
Ranked in the US
#18
Cost of Living Index
105.8
Ranked in the US
#16
Arkansas
Average Home Value2
$157,696
Ranked in the US
#48
Ranked in the US
#50
Cost of Living Index
90.6
Ranked in the US
#41
California
Average Home Value2
$675,063
Ranked in the US
#2
$1,586
Ranked in the US
#3
Cost of Living Index
137.6
Ranked in the US
#4
Colorado
Average Home Value2
$490,123
Ranked in the US
#6
$1,335
Ranked in the US
#8
Cost of Living Index
104.6
Ranked in the US
#19
Connecticut
Average Home Value2
$316,225
Ranked in the US
#19
$1,201
Ranked in the US
#13
Cost of Living Index
116.8
Ranked in the US
#9
Delaware
Average Home Value2
$309,966
Ranked in the US
#21
$1,150
Ranked in the US
#16
Cost of Living Index
105.6
Ranked in the US
#17
District of Columbia
Average Home Value2
$666,990
Ranked in the US
#3
$1,607
Ranked in the US
#2
Cost of Living Index
152.2
Ranked in the US
#2
Florida
Average Home Value2
$298,669
Ranked in the US
#25
$1,218
Ranked in the US
#12
Cost of Living Index
102.8
Ranked in the US
#21
Georgia
Average Home Value2
$252,762
Ranked in the US
#31
$1,042
Ranked in the US
#21
Cost of Living Index
88.6
Ranked in the US
#47
Hawaii
Average Home Value2
$740,097
Ranked in the US
#1
$1,651
Ranked in the US
#1
Cost of Living Index
184
Ranked in the US
#1
Idaho
Average Home Value2
$428,378
Ranked in the US
#9
Ranked in the US
#31
Cost of Living Index
99.6
Ranked in the US
#24
Illinois
Average Home Value2
$233,443
Ranked in the US
#36
$1,038
Ranked in the US
#22
Cost of Living Index
92.6
Ranked in the US
#35
Indiana
Average Home Value2
$192,337
Ranked in the US
#41
Ranked in the US
#39
Cost of Living Index
89.9
Ranked in the US
#44
Iowa
Average Home Value2
$177,976
Ranked in the US
#46
Ranked in the US
#46
Cost of Living Index
89.2
Ranked in the US
#45
Kansas
Average Home Value2
$189,032
Ranked in the US
#43
Ranked in the US
#35
Cost of Living Index
87.5
Ranked in the US
#49
Kentucky
Average Home Value2
$176,324
Ranked in the US
#47
Ranked in the US
#48
Cost of Living Index
94.9
Ranked in the US
#30
Louisiana
Average Home Value2
$190,229
Ranked in the US
#42
Ranked in the US
#32
Cost of Living Index
93.6
Ranked in the US
#34
Maine
Average Home Value2
$314,191
Ranked in the US
#20
Ranked in the US
#33
Cost of Living Index
115.3
Ranked in the US
#12
Maryland
Average Home Value2
$366,162
Ranked in the US
#14
$1,415
Ranked in the US
#4
Cost of Living Index
124
Ranked in the US
#7
Massachusetts
Average Home Value2
$514,230
Ranked in the US
#5
$1,336
Ranked in the US
#7
Cost of Living Index
149.7
Ranked in the US
#3
Michigan
Average Home Value2
$207,493
Ranked in the US
#39
Ranked in the US
#30
Cost of Living Index
92.2
Ranked in the US
#38
Minnesota
Average Home Value2
$301,470
Ranked in the US
#24
$1,010
Ranked in the US
#24
Cost of Living Index
97.5
Ranked in the US
#26
Mississippi
Average Home Value2
$146,876
Ranked in the US
#50
Ranked in the US
#47
Cost of Living Index
85
Ranked in the US
#51
Missouri
Average Home Value2
$202,083
Ranked in the US
#40
Ranked in the US
#40
Cost of Living Index
89.1
Ranked in the US
#46
Montana
Average Home Value2
$368,496
Ranked in the US
#13
Ranked in the US
#41
Cost of Living Index
104.8
Ranked in the US
#18
Nebraska
Average Home Value2
$220,718
Ranked in the US
#38
Ranked in the US
#36
Cost of Living Index
91.9
Ranked in the US
#39
Nevada
Average Home Value2
$369,138
Ranked in the US
#12
$1,159
Ranked in the US
#15
Cost of Living Index
103.2
Ranked in the US
#20
New Hampshire
Average Home Value2
$364,831
Ranked in the US
#15
$1,145
Ranked in the US
#17
Cost of Living Index
116.1
Ranked in the US
#10
New Jersey
Average Home Value2
$406,423
Ranked in the US
#10
$1,368
Ranked in the US
#5
Cost of Living Index
112.4
Ranked in the US
#15
New Mexico
Average Home Value2
$250,102
Ranked in the US
#32
Ranked in the US
#37
Cost of Living Index
94
Ranked in the US
#33
New York
Average Home Value2
$359,173
Ranked in the US
#16
$1,315
Ranked in the US
#9
Cost of Living Index
134.5
Ranked in the US
#5
North Carolina
Average Home Value2
$258,377
Ranked in the US
#28
Ranked in the US
#27
Cost of Living Index
95.7
Ranked in the US
#28
North Dakota
Average Home Value2
$255,566
Ranked in the US
#29
Ranked in the US
#42
Cost of Living Index
97.1
Ranked in the US
#27
Ohio
Average Home Value2
$187,162
Ranked in the US
#44
Ranked in the US
#43
Cost of Living Index
91.9
Ranked in the US
#40
Oklahoma
Average Home Value2
$157,233
Ranked in the US
#49
Ranked in the US
#44
Cost of Living Index
85.8
Ranked in the US
#50
Oregon
Average Home Value2
$453,856
Ranked in the US
#8
$1,173
Ranked in the US
#14
Cost of Living Index
121.2
Ranked in the US
#8
Pennsylvania
Average Home Value2
$237,674
Ranked in the US
#34
Ranked in the US
#26
Cost of Living Index
98.2
Ranked in the US
#25
Rhode Island
Average Home Value2
$373,094
Ranked in the US
#11
$1,031
Ranked in the US
#23
Cost of Living Index
112.9
Ranked in the US
#14
South Carolina
Average Home Value2
$231,270
Ranked in the US
#37
Ranked in the US
#28
Cost of Living Index
94.3
Ranked in the US
#32
South Dakota
Average Home Value2
$262,373
Ranked in the US
#27
Ranked in the US
#49
Cost of Living Index
94.5
Ranked in the US
#31
Tennessee
Average Home Value2
$239,612
Ranked in the US
#33
Ranked in the US
#29
Cost of Living Index
90.2
Ranked in the US
#42
Texas
Average Home Value2
$255,023
Ranked in the US
#30
$1,082
Ranked in the US
#20
Cost of Living Index
92.5
Ranked in the US
#36
Utah
Average Home Value2
$471,970
Ranked in the US
#7
$1,090
Ranked in the US
#19
Cost of Living Index
102.8
Ranked in the US
#22
Vermont
Average Home Value2
$304,539
Ranked in the US
#22
Ranked in the US
#25
Cost of Living Index
115.9
Ranked in the US
#11
Virginia
Average Home Value2
$338,714
Ranked in the US
#18
$1,257
Ranked in the US
#10
Cost of Living Index
102.8
Ranked in the US
#23
Washington
Average Home Value2
$518,215
Ranked in the US
#4
$1,337
Ranked in the US
#6
Cost of Living Index
114.2
Ranked in the US
#13
West Virginia
Average Home Value2
$126,115
Ranked in the US
#51
Ranked in the US
#51
Cost of Living Index
90
Ranked in the US
#43
Wisconsin
Average Home Value2
$236,227
Ranked in the US
#35
Ranked in the US
#34
Cost of Living Index
95.5
Ranked in the US
#29
Wyoming
Average Home Value2
$291,215
Ranked in the US
#26
Ranked in the US
#38
Cost of Living Index
92.5
Ranked in the US
#37
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