Buying a home varies in price from state to state.
We teamed up with Zillow to find out the median home value in each of the 50 states (plus Washington, DC).
We also included example listings from both Zillow and Trulia; these properties can help give a better idea of what a home will look like for the typical cost in the state it resides.
Overall, the United States’ median home value dropped from nearly $280,000 to $243,225, despite rising costs in the housing market, especially in major cities.
Visit Business Insider’s homepage for more stories.
The typical cost of a home varies greatly from state to state.
We teamed up with Zillow to find the median home value of each of the 50 states in the US, in addition to Washington, DC. While there was some fluctuation from last year’s numbers, the highest and lowest state medians are the same: West Virginia remains the cheapest with a median home value of $108,236, while Hawaii holds its position as the most expensive, with a median home value of $636,451.
For some states, this median value is heavily impacted by the typical cost of a starter home. Additionally, many states include notoriously expensive metro areas that contribute to higher averages, including California’s many coastal cities and Washington’s unaffordable Seattle neighborhoods due to the tech boom.
Using data from Zillow, Business Insider sorted states from lowest to highest median home value. We also noted each state’s region size ranking, which represents how big it is population-wise; California is ranked No. 1 with the largest population of all states, while Wyoming is ranked No. 51 (the ranking includes Washington, DC). It’s important to remember that these are the average home prices in each state, …read more
Source:: Business Insider