Whether you’re starting a family or adjusting to life as an empty-nester, buying a home might be on your list of goals. According to data released in 2018 by the U.S. Census Bureau, you would be joining a pool of 76.7 million American homeowners.
Housing markets vary by location. The average value of a home in a large, populous state like New York is more expensive than a home in Arkansas. But wherever you live, knowing the average home value is a great way to begin budgeting for your dream house. Here’s a breakdown of the median home values in each state based on 2019 data processed by Zillow, an online real estate marketplace, and the most recent available census data (2017) produced by the U.S. Census Bureau.
The median home value in sweet home Alabama is $141,300 according to the U.S. Census Bureau. That’s $70,000 lower than the median home value in the United States, $217,600. Totals reported by Zillow in 2019 show a slight decrease. According to the online market, the median home value in Alabama as of September 2019 is approximately $134,300.
California is the most populous state in the U.S. with more than 39 million people calling the state home, including some of the most famous people in the entertainment industry. And it’s home to Silicon Valley, a region in the state where tech giants often find their start. It makes sense that the median home value would reflect this. The median value of a home in California is $509,400, according to the U.S. Census Bureau. That number takes a slight leap on Zillow’s September 2019 report, which lists it at $550,800. According to the online market, that price will rise another 1.7% by 2020.
If you want to live on the east coast but New York is out of the picture, consider Connecticut. Home values are lower compared to those in other states. The median home value was reported as $273,300 by the U.S. Census Bureau, but, according to Zillow, that number has decreased as of September 2019, with the median home value now listed as $244,800.
The median value of a home in Delaware, the 49th-largest state in the nation by area, was priced around $252,800 by the U.S. Census Bureau. As of September 2019, a report by Zillow shows that that number has decreased. The median value is now $236,300, but is expected to rise by 1.1% over the next year.
Fans of Disney World and the magic it has to offer can find their dream home at a median value of $214,000, according to the U.S. Census Bureau. Homeowners in the Sunshine State typically pay a monthly mortgage of $1,423. As of September 2019, Zillow reports that the median home value has increased to $237,900.
The median value of a home in the Peach State as of 2017 was $173,700, according to data collected by the U.S. Census Bureau. Zillow’s September 2019 report lists Georgia as a state where home values have increased and will continue to do so by 4.8% within the next year. Zillow lists Georgia’s 2019 median home value as $193,500.
For those hoping to call this beautiful and romantic state home, a fair amount will have to be spent. The median value of a home in Hawaii is $617,400, according to the U.S. Census Bureau, topping the list as the most expensive U.S. state in terms of homes. Zillow’s 2019 report reflects an even higher dollar amount at $619,000.
A home in Massachusetts is a bit pricier compared to other eastern states. The median home value was listed as $385,400 by the U.S. Census Bureau. That value has since increased by more than $20,000 according to Zillow’s estimate released in September 2019. The median home value is now listed as $408,100.
Mississippi is one of the most affordable states in regards to homes. The U.S. Census Bureau listed the 2017 median home value at $120,200 and Zillow’s 2019 number wasn’t too much higher at $130,200.
Missouri is home to two of the most beautiful college campuses in America, so if you’re hoping to settle near your child on their way to new beginnings, the median value of a home is $156,700, according to the U.S. Census Bureau. Zillow’s data from 2019 reflects an increase in that value with the median price of a home marked as $163,700.
Fans of extraterrestrial beings and eccentric museums might know of all New Mexico has to offer, but for those searching for a new place to call home, the state also has a pretty low median home value. The median home value for 2017 was $171,300, according to the U.S. Census Bureau, and $197,400 according to Zillow’s 2019 estimate.
Compared to other states with similar populations, Oregon’s median home value might surprise you. The U.S. Census Bureau estimated the value to be $319,200 in 2017, with homeowners paying a median monthly mortgage of $1,629. And according to Zillow’s 2019 estimate, the median home value has increased by more than $20,000. It was estimated to be $350,600 and steadily increasing.
Washington may be less populated than popular states like New York and Texas, but its median home value exceeds both. According to the U.S. Census Bureau, the median value of a home in Washington in 2017 was a whopping $339,000. That total increased by more than $50,000 in Zillow’s 2019 estimate to a median value of $393,800.
Wyoming is the least populated state in the U.S. — it’s home to 579,315 people — but its median home value is pricier than other locations. The U.S. Census Bureau listed the median value as $214,300 in 2017 and Zillow’s 2019 estimates show a leap with a median value of $236,100. If you’re hoping to find a new home and you’re not sure where to start, stop by during the cooler seasons for one of the best fall day trips you’ll ever have.
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