This Is How Much the Average American Home Costs by State
KEY POINTS
- The median home price in America is $420,800, as of Q1 2024 -- but prices vary wildly from state to state.
- By understanding your own market, you can be better prepared for your real estate experience.
- You can even use this data to strategize a move from a higher-priced area to a less-expensive one for retirement.
I spent a decade of my life selling homes in my community as a Realtor, and I can tell you, there's nothing that makes buying or selling a house easier than really being armed with knowledge.
You can't know everything -- that's why you have an agent -- but the more prepared you are going into your purchase or sale, the fewer surprises that will await you. Read on for some helpful information about home prices in all 50 states.
The average American home cost by state
Whether you're looking to buy a home and you need some idea of pricing to give your mortgage lender, or you're thinking about selling, it sure helps to know what average prices are near you.
The prices in the table below are based on data from the Zillow Home Value Index (ZHVI). The ZHVI reflects the typical value for a home between the 35th and 65th percentile for an area, making it a fairly realistic gauge of value for the typical buyer in an area. Choosing to look at this slice of data means you eliminate deeply distressed properties, as well as high-end luxury mansions where the last thing you're worried about is mortgage rates.
I've also included the change in price since 2021, so you can see how much equity you may currently have, based on your state's average.
| Ranking By Price | State | Q1 2021 | Q1 2024 | % Change Since 2021 | 2024 % Difference From Median |
|---|---|---|---|---|---|
| 1 | Hawaii | $772,634 | $967,296 | 20.12% | 129.87% |
| 2 | California | $635,822 | $785,294 | 19.03% | 86.62% |
| 3 | District of Columbia | $714,340 | $717,557 | 0.45% | 70.52% |
| 4 | Massachusetts | $486,094 | $616,983 | 21.21% | 46.62% |
| 5 | Washington | $483,026 | $589,807 | 18.10% | 40.16% |
| 6 | Colorado | $452,239 | $550,989 | 17.92% | 30.94% |
| 7 | New Jersey | $403,550 | $519,941 | 22.39% | 23.56% |
| 8 | Utah | $412,426 | $519,469 | 20.61% | 23.45% |
| 9 | Oregon | $418,103 | $494,780 | 15.50% | 17.58% |
| 10 | New Hampshire | $349,856 | $475,398 | 26.41% | 12.97% |
| 11 | Montana | $326,256 | $450,517 | 27.58% | 7.06% |
| 12 | Rhode Island | $343,776 | $448,778 | 23.40% | 6.65% |
| 13 | Idaho | $362,762 | $443,630 | 18.23% | 5.43% |
| 14 | Nevada | $344,911 | $441,950 | 21.96% | 5.03% |
| 15 | Arizona | $332,801 | $436,307 | 23.72% | 3.69% |
| 16 | New York | $334,559 | $428,712 | 21.96% | 1.88% |
| 17 | Maryland | $358,880 | $418,225 | 14.19% | (0.61%) |
| 18 | Connecticut | $307,236 | $409,905 | 25.05% | (2.59%) |
| 19 | Florida | $287,217 | $409,638 | 29.89% | (2.65%) |
| 20 | Virginia | $310,472 | $383,327 | 19.01% | (8.91%) |
| 21 | Maine | $278,905 | $379,011 | 26.41% | (9.93%) |
| 22 | Vermont | $291,444 | $375,943 | 22.48% | (10.66%) |
| 23 | Delaware | $299,760 | $371,763 | 19.37% | (11.65%) |
| 24 | Alaska | $324,818 | $362,644 | 10.43% | (13.82%) |
| 25 | Wyoming | $275,014 | $333,745 | 17.60% | (20.69%) |
| 26 | Minnesota | $282,618 | $328,696 | 14.02% | (21.89%) |
| 27 | North Carolina | $240,089 | $324,113 | 25.92% | (22.98%) |
| 28 | Georgia | $235,319 | $323,386 | 27.23% | (23.15%) |
| 29 | Tennessee | $229,520 | $310,207 | 26.01% | (26.28%) |
| 30 | Texas | $235,889 | $299,474 | 21.23% | (28.83%) |
| 31 | New Mexico | $226,076 | $293,801 | 23.05% | (30.18%) |
| 32 | South Dakota | $230,548 | $293,085 | 21.34% | (30.35%) |
| 33 | South Carolina | $217,913 | $289,251 | 24.66% | (31.26%) |
| 34 | Wisconsin | $231,052 | $289,236 | 20.12% | (31.27%) |
| 35 | Pennsylvania | $212,295 | $256,822 | 17.34% | (38.97%) |
| 36 | Illinois | $208,545 | $255,278 | 18.31% | (39.34%) |
| 37 | North Dakota | $230,507 | $252,455 | 8.69% | (40.01%) |
| 38 | Nebraska | $201,109 | $251,976 | 20.19% | (40.12%) |
| 39 | Missouri | $188,758 | $239,144 | 21.07% | (43.17%) |
| 40 | Indiana | $180,217 | $231,797 | 22.25% | (44.92%) |
| 41 | Michigan | $188,711 | $230,579 | 18.16% | (45.20%) |
| 42 | Ohio | $175,775 | $218,937 | 19.71% | (47.97%) |
| 43 | Kansas | $171,725 | $218,078 | 21.26% | (48.18%) |
| 44 | Alabama | $177,880 | $217,961 | 18.39% | (48.20%) |
| 45 | Iowa | $174,555 | $212,618 | 17.90% | (49.47%) |
| 46 | Oklahoma | $157,331 | $200,364 | 21.48% | (52.38%) |
| 47 | Arkansas | $162,526 | $198,530 | 18.14% | (52.82%) |
| 48 | Kentucky | $158,945 | $196,576 | 19.14% | (53.29%) |
| 49 | Louisiana | $190,184 | $195,141 | 2.54% | (53.63%) |
| 50 | Mississippi | $148,394 | $170,810 | 13.12% | (59.41%) |
| 51 | West Virginia | $131,784 | $155,333 | 15.16% | (63.09%) |
Hawaii has the highest property values, where West Virginia has the lowest. The median sales price of homes sold in America was $420,800 in Q1 2024, according to the Federal Reserve Bank of St. Louis. So both Hawaii and West Virginia are very far off the median, which may also influence where you shop for a home or how you plan for your retirement.
Choosing a home in any state
While it's important to understand property values where you live and where you're shopping for a home, this information can be used to plan for the future. For example, if you currently live in Virginia, you may find it's worth choosing your next home in West Virginia when you're attempting to downsize.
Your life may not change much, depending on where you are in each state, but selling a home in a more expensive location and buying one in a less costly one is one part of a killer retirement strategy.
Our Research Expert
Kristi Waterworth is a financial journalist located in the Missouri Ozarks. When she’s not writing about real estate or personal finance, she’s committing shenanigans with her four dogs.
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