Cheapest U.S. States To Buy Homes
President Biden made home prices soar!
According to a recent analysis of Zillow data, Utah, California, and Colorado had a monthly median sale price exceeding $500,000 for houses last year. Meanwhile, in Hawaii, the median sale price was an astonishing $800,000 or more.
According to The Hill, Studio City realtors carried out a study which revealed that Hawaii ranked as the priciest state in the US for individuals seeking to purchase a home. In Hawaii, the average cost of a house was $805,775, a difference of hundreds of thousands of dollars when compared to the least expensive state on the list.
Tony Mariotti, a realtor from Studio City, observed that fluctuations in the market led to a noteworthy surge in housing prices throughout the United States.
Below are the most expensive and affordable states in the US to purchase a home:
Last year, Oregon was among the eight states, in addition to Washington D.C., that recorded a monthly median sale price of $400,000 or more for a house.
Between $402,900 and $487,500, the median sale prices of houses were reported in Washington state, Nevada, Montana, and Washington D.C.
Last year, California, Colorado, and Hawaii had the highest monthly median sale prices for houses. California’s median sale price was $537,000, Colorado’s was $537,125, and Hawaii’s was a whopping $805,775.
There were variations in housing costs within each state. For instance, in California, the median monthly sale price for a house in Red Bluff, the least expensive city, was $320,000, while in San Jose, the priciest city, it was $1,370,000.
Individuals searching for affordable homes may have better prospects in the Midwest. Illinois was the least expensive state in the US, with a monthly median sale price of $133,750 for houses last year.
In Illinois, the cheapest city to purchase a house was Galesburg, with a median sale price of $90,000, while the most expensive city, Chicago, had a median sale price of $282,750.
Last year, Ohio and Oklahoma were ranked as the second and third least expensive states in the US to buy a home, with a monthly median sale price of $155,000 and $175,063, respectively.
Michigan, Missouri, Indiana, Arkansas, West Virginia, and New York all recorded median sale prices below $200,000 for houses last year. Alabama’s median sale price was exactly at the $200,000 mark.
