Average House Price by State

The median house price is $419,200 as of the fourth quarter of 2024, according to the Federal Reserve Bank of St. Louis. That's up $3,900 from the previous quarter and $4,000 lower than the previous year.

House prices grew quickly from mid-2021 through late 2022, but the market has started to cool off. The median home sales price in the U.S. declined in three out of four quarters in 2023, but just one quarter in 2024. Still, the median home sales price fell overall in 2024.

Mortgage rates dropped significantly in 2020, driving up demand as home buyers looked to take advantage. The COVID-19 pandemic also led to consumers shifting spending to housing and pushed more millennials toward homeownership. Starting in 2022, however, mortgage rates began to rise rapidly as the Federal Reserve raised rates and house prices have dropped from their peak.

Mortgage rates declined from the fall of 2023 through the fall of 2024, but have since rebounded.

Let's take a deeper dive into what average house prices are like across the country.

Median home price in the United States: $419,200

The median home sales price is $419,200 as of the fourth quarter of 2024. That's a 17% increase from the fourth quarter of 2020, when the median sales price was $358,700. With the median U.S. home price at $419,200, buying or refinancing at the right time can make a big difference in your monthly payments. See how much you could save—check your rate with Better Mortgage today.

The cost of a house in the United States has increased over the past four decades. Here's a look at how the median home sales prices have changed over the last 40 years (prices are for the first quarter of each year listed unless otherwise specified):

Between 1980 and 2020, the median home sales price increased by 416%. From 1980 to the fourth quarter of 2024, home sales prices rose 558%.

The gap between those percentage changes is a result of home prices rapidly rising from 2020 through late 2022. From the first quarter of 2020 to the fourth quarter of 2022, the median home sales price rose 46% from $329,000 to $479,500, among the fastest rate of median home sales price increases in U.S. history.

Typical home value in the United States: $356,782

The Federal Reserve only provides data on home sales prices and does not include state-level data. The Zillow Home Value Index (ZHVI), however, does provide that data. The ZHVI isn't an average, but it represents the typical home value in a given area. In the United States as a whole, the average ZHVI over the fourth quarter of 2024 was $356,782.

Affordability of housing varies by state. For a look at house prices in each state, the median income by state, and housing affordability, read on.

Typical home value by state

Typical home value in Alabama: $223,266 (63% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $223,266
• Median household income as a percentage of home value: 27%

Homes in Alabama are relatively affordable. While the median household income in Alabama is 80% of the national median, the typical home value is eighth lowest in the country, per Zillow.

Typical home value in Alaska: $381,985 (107% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $381,985
• Median household income as a percentage of home value: 23%

Homes in Alaska are valued 7% above the typical national value. That's offset by the median income in Alaska being 18% above the national median.

Typical home value in Arizona: $435,272 (122% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $435,272
• Median household income as a percentage of home value: 17%

A single-family home in Arizona is expensive -- 22% more than that typically found in the U.S. Buying a home in Arizona is probably not the most affordable option, given that the median household income in the state is in line with the national median.

Typical home value in Arkansas: $207,699 (58% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $207,699
• Median household income as a percentage of home value: 27%

The typical home value in Arkansas is the fifth-lowest in the country. Despite the median household income in Arkansas being 26% below the national median, the state has among the most attractive income-to-home value ratios.

Typical home value in California: $791,663 (222% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $791,663
• Median household income as a percentage of home value: 12%

California has the second-highest typical home value in the United States and the second-lowest income-to-home-value ratio, despite residents making 22% more than the median U.S. income.

Typical home value in Colorado: $553,636 (155% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $553,636
• Median household income as a percentage of home value: 16%

Homes in Colorado are the sixth-most expensive in the nation, and the state has the eighth-lowest income-to-home-value ratio, despite the median household income there being 19% above the national median.

Typical home value in Connecticut: $429,453 (120% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $429,453
• Median household income as a percentage of home value: 21%

Homes in Connecticut are valued 20% above the typical U.S. price, but are still somewhat affordable given the state's relatively high income-to-home-value ratio.

Typical home value in Delaware: $380,941 (107% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $380,941
• Median household income as a percentage of home value: 22%

Delaware homes are valued 7% above the typical U.S. home, offset by the median household income in the state being 10% above the U.S. median.

Typical home value in District of Columbia: $716,374 (201% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $716,374
• Median household income as a percentage of home value: 14%

Washington, D.C. home values are third-highest in the nation and its income-to-home-value ratio is the third-lowest, despite the median income there being 35% above the national median.

Typical home value in Florida: $408,910 (115% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $408,910
• Median household income as a percentage of home value: 17%

The typical home in Florida is valued 15% higher than the typical U.S. home and the median household income in the state is 7% lower than the median U.S. income, resulting in a low income-to-home-value ratio and creating affordability concerns.

Typical home value in Georgia: $327,582 (92% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $327,582
• Median household income as a percentage of home value: 22%

Georgia homes are not expensive compared to the typical U.S. home, but they aren't all that affordable either, due to the below-median income in the state.

Typical home value in Hawaii: $982,134 (275% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $982,134
• Median household income as a percentage of home value: 9%

The typical Hawaii single-family home is the most expensive in the country and the least affordable, with a low household income-to-home-value ratio despite the median income in Hawaii being 24% above the national median.

Typical home value in Idaho: $449,714 (126% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $449,714
• Median household income as a percentage of home value: 16%

The typical Idaho house is 26% more expensive than the typical U.S. house. That presents affordability issues, as the median household income in Idaho is 3% below the national median.

Typical home value in Illinois: $269,161 (75% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $269,161
• Median household income as a percentage of home value: 28%

Illinois homes are priced well below the typical U.S. home and are among the most affordable in the country, due to the median household income there being slightly above the U.S. median.

Typical home value in Indiana: $239,185 (67% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $239,185
• Median household income as a percentage of home value: 28%

Homes in Indiana are valued 33% below the typical U.S. single family home and they're affordable as well, given that the median household income in Indiana is just 11% below the U.S. median.

Typical home value in Iowa: $218,107 (61% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $218,107
• Median household income as a percentage of home value: 32%

Iowa enjoys the second-best household income-to-home-value ratio due to the typical house being 61% of the national price and the median household income being just 7% below the national median.

Typical home value in Kansas: $225,669 (63% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $225,669
• Median household income as a percentage of home value: 31%

Homes in Kansas are 63% of the typical U.S. price and among the most affordable in the country, with a high income-to-home-value ratio.

Typical home value in Kentucky: $208,110 (58% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $208,110
• Median household income as a percentage of home value: 29%

The typical Kentucky home is 42% cheaper than the typical U.S. home. Despite the median household income in Kentucky being 21% below the median U.S. income, the state has a high income-to-home-value ratio.

Typical home value in Louisiana: $197,588 (55% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $197,588
• Median household income as a percentage of home value: 28%

The typical home in Louisiana is valued at $197,588, just 55% of the typical U.S. home value. That leads to a high income-to-home-value ratio, despite the median household income in Louisiana being 26% lower than the national median.

Typical home value in Maine: $391,452 (110% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $391,452
• Median household income as a percentage of home value: 18%

Single-family homes in Maine are typically more expensive than the typical U.S. home. With the median household income in Maine at 7% below the national median, the state's income-to-home-value ratio is below average.

Typical home value in Maryland: $429,404 (120% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $429,404
• Median household income as a percentage of home value: 22%

The typical single-family home in Maryland is valued at $429,404, 20% above the typical U.S. home price. That's somewhat offset by the median household income in Maryland being 27% above the national median.

Typical home value in Massachusetts: $641,070 (180% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $641,070
• Median household income as a percentage of home value: 15%

Massachusetts has the fourth-highest typical home value and among the lowest income-to-home-value ratio, despite the median income in the state being 26% above the national median.

Typical home value in Michigan: $237,483 (67% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $237,483
• Median household income as a percentage of home value: 28%

The typical Michigan home is on the affordable side due to low home values and the median income being close to the national median.

Typical home value in Minnesota: $334,653 (94% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $334,653
• Median household income as a percentage of home value: 25%

Minnesota has a typical home value of $334,653, 6% below the typical national home price. With a median household income 10% higher than the national median, homes there are relatively affordable.

Typical home value in Mississippi: $176,252 (49% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $176,252
• Median household income as a percentage of home value: 30%

The typical home in Mississippi is $176,252, which is 49% of the typical U.S. home price and second lowest in the country. Although the median income is 71% of the U.S. median, the income-to-home-value ratio is eighth highest in the country.

Typical home value in Missouri: $244,993 (69% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $244,993
• Median household income as a percentage of home value: 26%

The typical Missouri home being valued at 69% of the typical .S. house results in an above-average income-to-home-value ratio, despite the median household income there being 13% below the national median.

Typical home value in Montana: $451,482 (127% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $451,482
• Median household income as a percentage of home value: 15%

Montana has among the lowest income-to-home-value ratios, due to the typical home there being 27% more expensive than the typical U.S. home and the median income being 10% below the median U.S. income.

Typical home value in Nebraska: $256,641 (72% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $256,641
• Median household income as a percentage of home value: 27%

The typical home in Nebraska is priced at $256,641, which is 72% of the typical home value in the U.S. The state has a high income-to-home-value ratio as a result.

Typical home value in Nevada: $455,678 (128% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $455,678
• Median household income as a percentage of home value: 16%

The value of a typical single family home in Nevada is $455,678, 28% above the typical U.S. home price. That and the median household income being just below the national median creates housing affordability concerns in the state.

Typical home value in New Hampshire: $496,417 (139% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $496,417
• Median household income as a percentage of home value: 18%

New Hampshire's below-average income-to-home-value ratio stems from how expensive the typical home is in the state: $496,417.

Typical home value in New Jersey: $554,480 (155% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $554,480
• Median household income as a percentage of home value: 17%

The most densely populated state, the value of a typical single-family home in New Jersey in the fourth quarter was $554,480, per Zillow. The median household income in New Jersey is above the U.S. median, but it's not enough net income-to-home-value ratio to be considered affordable.

Typical home value in New Mexico: $302,364 (85% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $302,364
• Median household income as a percentage of home value: 20%

While New Mexico has a typical home value lower than the typical U.S. home price, the median household income in the state is also well below the national median, resulting in a low income-to-home-value ratio and raising affordability concerns.

Typical home value in New York: $458,048 (128% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $458,048
• Median household income as a percentage of home value: 17%

The typical home value in the fourth quarter of 2024 in New York was $458,048, 128% of the typical U.S. home value. With a median household income just 6% above the national median, the income-to-home-value ratio in New York is low.

Typical home value in North Carolina: $329,210 (92% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $329,210
• Median household income as a percentage of home value: 20%

The typical home value in North Carolina is slightly below the typical national price, as is the median household income there. As a result, the income-to-home-value ratio is in the lower half of the states.

Typical home value in North Dakota: $267,470 (75% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $267,470
• Median household income as a percentage of home value: 27%

North Dakota boasts a solid income-to-home-value ratio due to a typical home value being well below the nationwide typical home price and a median household income close to the national median.

Typical home value in Ohio: $229,133 (64% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $229,133
• Median household income as a percentage of home value: 29%

The typical home value in Ohio is the 10th-lowest in the country. That, along with the median household income being 88% of the U.S. median, results in the sixth-best income-to-home-value ratio.

Typical home value in Oklahoma: $204,290 (57% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $204,290
• Median household income as a percentage of home value: 29%

The typical home in Oklahoma is cheap at 57% of the typical U.S. home price. The median income is low, 80% of the national median, but it's enough to make homes in Oklahoma among the most affordable in the country.

Typical home value in Oregon: $497,646 (139% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $497,646
• Median household income as a percentage of home value: 15%

Oregon has the seventh-lowest income-to-home-value ratio, driven by a typical home value that is ninth-highest in the country and the median household income there being just 1% higher than the national median.

Typical home value in Pennsylvania: $265,421 (74% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $265,421
• Median household income as a percentage of home value: 27%

Pennsylvania has affordable homes, with the typical home price being 74% of the national value and the median household income being almost even with the national median.

Typical home value in Rhode Island: $475,827 (133% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $475,827
• Median household income as a percentage of home value: 17%

A typical single-family home in Rhode Island is worth $475,827 and the median household income there is only 9% above the national median, creating affordability challenges.

Typical home value in South Carolina: $296,692 (83% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $296,692
• Median household income as a percentage of home value: 22%

South Carolina is below the national typical home price and median household income, resulting in an average income-to-home-value ratio.

Typical home value in South Dakota: $301,531 (85% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $301,531
• Median household income as a percentage of home value: 23%

The typical home value in South Dakota is 15% lower than the typical U.S. home value, while the median income in the state is just 7% below the national median. As a result, homes are relatively affordable.

Typical home value in Tennessee: $315,876 (89% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $315,876
• Median household income as a percentage of home value: 21%

The price of a typical home in Tennessee is $315,876, 89% of the typical U.S. home value. A median household income that is 87% of the national median offsets those low housing costs and results in a below average income-to-home-value ratio.

Typical home value in Texas: $301,375 (84% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $301,375
• Median household income as a percentage of home value: 24%

The typical home value in Texas is 16% below the national typical home price. With a median income that is 96% of the national median, the income-to-home value in Texas is just above average.

Typical home value in Utah: $525,593 (147% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $525,593
• Median household income as a percentage of home value: 17%

The typical home value in Utah is eighth highest in the country. Although median household income in the state is 19% higher than the median income housing in the state is relatively unaffordable.

Typical home value in Vermont: $390,220 (109% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $390,220
• Median household income as a percentage of home value: 19%

The typical home value in Vermont is 9% above the typical U.S. home price, and the median household income in the state is slightly higher than the national median, resulting in an average income-to-home-value ratio.

Typical home value in Virginia: $398,120 (112% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $398,120
• Median household income as a percentage of home value: 22%

The typical home value and median household income are both slightly above their respective national benchmarks, so the income-to-home-value ratio is average.

Typical home value in Washington: $600,939 (168% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $600,939
• Median household income as a percentage of home value: 15%

The Typical home value in Washington is fifth-highest in the U.S., generating an income-to-home-value ratio that is among the lowest in the country despite the median income in the state being above the national median.

Typical home value in West Virginia: $165,756 (46% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $165,756
• Median household income as a percentage of home value: 33%

West Virginia is the most affordable state to buy a house in, thanks to the typical house there costing just 46% of the typical U.S. single-family home. The income-to-house-price ratio in West Virginia is the highest in the country.

Typical home value in Wisconsin: $304,061 (85% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $304,061
• Median household income as a percentage of home value: 23%

The typical home in Wisconsin is valued at $304,061, and with a median income near the national median, the state boasts an above-average income-to-home-value ratio.

Typical home value in Wyoming: $349,074 (98% of typical U.S. price)

• Typical single-family home value in the fourth quarter of 2024: $349,074
• Median household income as a percentage of home value: 20%

The typical home value in Wyoming is nearly on par with the national typical home price, and the median income in the state is slightly below the national median, resulting in a slightly below-average income-to-home-value ratio.

How to save when buying a home

With home prices in the U.S. in flux, you may want to consider how to save if you're thinking of buying a house. Here are a few ways to get ready for a mortgage:

• Take steps to increase your credit score. When applying for a mortgage, home buyers with a FICO® Score of 760 or higher typically qualify for the lowest mortgage rates.
• Save up money for a larger down payment. Putting 20% down means you don't need to pay private mortgage insurance.
• Shop around when choosing a mortgage lender. Be sure to consider the best mortgage lenders. And don't forget to check out online mortgage lenders. Different lenders will offer different APRs, and even a slightly lower one can result in big long-term savings.

Motley Fool Money also has a mortgage calculator that can help you figure out your mortgage payments based on different home prices, mortgage rates, down payments, and other factors.