{"id":1501108,"date":"2024-11-08T02:20:00","date_gmt":"2024-11-08T07:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1501108"},"modified":"2024-11-08T02:20:00","modified_gmt":"2024-11-08T07:20:00","slug":"this-is-the-median-home-price-in-each-us-state","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/this-is-the-median-home-price-in-each-us-state\/1501108\/","title":{"rendered":"This Is The Median Home Price In Each US State"},"content":{"rendered":"

This Is The Median Home Price In Each US State<\/span><\/p>\n

\n

In 2024, buying a home in the U.S. looks vastly different depending on where you are.<\/p>\n

Factors like local demand, land availability, economic conditions, and housing regulations all contribute to the median home prices in each state.<\/p>\n

This map, via Visual Capitalist’s Kayla Zhu, <\/a>visualizes the median home sale price for a single-family home in each U.S. state in 2024.<\/p>\n

<\/a><\/p>\n

The data is updated as of September 2024 and comes from\u00a0ATTOM<\/a>.<\/em><\/p>\n

Which States Have the Highest Home Sales Prices?<\/h2>\n

As of August 2024, the median home sales price for a single-family home in the United States is about $385,000.<\/p>\n

State
\n\t\t\tMedian Estimated Home Sales Price
\n\t\tHawaii
\n\t\t\t$851,930
\n\t\tCalifornia
\n\t\t\t$776,000
\n\t\tDistrict of Columbia
\n\t\t\t$659,072
\n\t\tMassachusetts
\n\t\t\t$640,113
\n\t\tWashington
\n\t\t\t$609,540
\n\t\tColorado
\n\t\t\t$561,205
\n\t\tUtah
\n\t\t\t$530,041
\n\t\tNew Jersey
\n\t\t\t$523,500
\n\t\tOregon
\n\t\t\t$511,434
\n\t\tNew Hampshire
\n\t\t\t$500,429
\n\t\tRhode Island
\n\t\t\t$487,985
\n\t\tNew York
\n\t\t\t$476,429
\n\t\tIdaho
\n\t\t\t$456,839
\n\t\tNevada
\n\t\t\t$445,883
\n\t\tMaryland
\n\t\t\t$436,985
\n\t\tArizona
\n\t\t\t$435,839
\n\t\tVermont
\n\t\t\t$411,381
\n\t\tFlorida
\n\t\t\t$405,289
\n\t\tConnecticut
\n\t\t\t$403,750
\n\t\tDelaware
\n\t\t\t$399,857
\n\t\tVirginia
\n\t\t\t$394,678
\n\t\tMontana
\n\t\t\t$388,053
\n\t\tMaine
\n\t\t\t$384,783
\n\t\tAlaska
\n\t\t\t$381,744
\n\t\tMinnesota
\n\t\t\t$348,126
\n\t\tWyoming
\n\t\t\t$344,432
\n\t\tNorth Carolina
\n\t\t\t$340,330
\n\t\tGeorgia
\n\t\t\t$333,903
\n\t\tTennessee
\n\t\t\t$327,855
\n\t\tSouth Dakota
\n\t\t\t$318,000
\n\t\tTexas
\n\t\t\t$314,750
\n\t\tWisconsin
\n\t\t\t$305,000
\n\t\tSouth Carolina
\n\t\t\t$301,057
\n\t\tNew Mexico
\n\t\t\t$301,000
\n\t\tIllinois
\n\t\t\t$286,413
\n\t\tPennsylvania
\n\t\t\t$279,709
\n\t\tMichigan
\n\t\t\t$262,814
\n\t\tNebraska
\n\t\t\t$262,637
\n\t\tMissouri
\n\t\t\t$259,250
\n\t\tNorth Dakota
\n\t\t\t$253,116
\n\t\tKansas
\n\t\t\t$238,824
\n\t\tIndiana
\n\t\t\t$238,411
\n\t\tAlabama
\n\t\t\t$235,675
\n\t\tOhio
\n\t\t\t$230,500
\n\t\tKentucky
\n\t\t\t$211,235
\n\t\tIowa
\n\t\t\t$203,770
\n\t\tArkansas
\n\t\t\t$203,067
\n\t\tOklahoma
\n\t\t\t$200,378
\n\t\tLouisiana
\n\t\t\t$190,900
\n\t\tMississippi
\n\t\t\t$183,507
\n\t\tWest Virginia
\n\t\t\t$167,110<\/p>\n

Hawaii<\/strong>\u00a0has the highest median house price in the U.S. at around $852,000, over double the national average, primarily due to its limited land availability,\u00a0strict housing regulations<\/a>, and\u00a0high demand for housing<\/a>\u00a0in a desirable climate.<\/p>\n

A University of Hawaii\u00a0report<\/a>\u00a0found that regulatory costs, including lengthy permitting processes and strict zoning laws, account for more than half (58%) of the median price of a new condominium in Hawaii.<\/p>\n

Hawaii\u2019s finite land area and high demand driven by\u00a0tourism<\/a>\u00a0and\u00a0military presence<\/a>\u00a0further inflate property values.<\/p>\n

California<\/strong>\u00a0comes in at second, with a median home price of $776,000. The coastal state is home to some of the most unaffordable metropolitan areas in the U.S., including Los Angeles and San Jose, where the\u00a0home price-to-income ratio is over 10<\/a>.<\/p>\n

Predominantly rural states like West Virginia ($167K), Mississippi ($184K), and Arkansas ($191K) have significantly lower median home prices than urbanized states like California ($776K) or New York ($476K).<\/p>\n

To learn more about the U.S. real estate market, check out this\u00a0graphic<\/a>\u00a0that visualizes which states have the most cities where homes average $1 million or more.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 11\/07\/2024 – 21:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/median-home-price-each-us-state<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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