How Much the Average House Costs in Each State
Owning your home is still very much a part of the American dream—but it’s not cheap: The national median price is $218,000. Here’s a look at the average home costs in each state in 2018.
The average home price is $199,020. If you’re considering a move to the state, your best destination may be Birmingham, according to Housingpredictor.com. Their research points out that the city is a major hub for construction, banking, medical research, and more. There’s a broad range of employment opportunities. The downtown is vibrant, with trendy stores and gourmet restaurants. Better still, there is an inventory of homes in the $80,000-$100,000 range.
The state has a steady average home price of $286,438. Even though there is a lack of inventory, the price has remained stable because more people are leaving the state than moving there. Be wary: According to a report by the Alaska Journal of Commerce, the Anchorage housing market may be about to slide. These days, Alaska’s willing to pay you $1,000 to move—and stay—there.
The average home price is $286,067. Although Phoenix got hit hard when the housing bubble burst, the area’s sales last year tell the recovery story. Almost one-third of the valley’s ZIP codes posted double-digit-percentage increases in prices last year, according to The Arizona Republic. Apparently, the first-time homebuyer market is on fire.
Although the average home price is $226,923, you’ll find much higher numbers in the most expensive cities of Cammack Village, Tontitown, Cave Springs, Little Flock, and Elm Springs, according to Neighborhoodscout.com. Arkansas is the home of Walmart, which is a big driver of the state’s economy. Find out the strangest home in each state.
Yikes: The average home price in California is $713,887. California has never been a place for bargain hunters—supply typically outpaces demand in the Golden State. Perhaps things are slowing down: According to recent reports, June marked the slowest home sales month for California in four years. The state saw an almost 10 percent year-over-year drop in transactions. Even so, a prospective home buyer would need a salary of more than $221,000 to afford a home and living expenses there, according to Finder.com. See if you can nail this state nicknames quiz.
The average purchase price is $408,936. Colorado made headlines when a Smart Asset study revealed the state is home to three of the top 10 healthiest housing markets in the United States: Colorado Springs (no. 3), Aurora (no. 7), and Denver (no. 9).
The average purchase price is $341,089. The housing sales news is less than encouraging in the state, however. Home prices aren’t appreciating as fast as most other states. Connecticut home prices climbed 3.6 percent last year, while the national average was a 6.9 percent hike.
It’s a seller’s market in Delaware, where the average purchase price is $283,149. According to recent reports, homes are selling in days. Be ready to compete if you plan on buying there.
District of Columbia
Ouch: The average purchase price is $691,241, and the pickings are slim when it comes to homes and condos. That lack of inventory impacts prices. According to published reports, several D.C. neighborhoods surpassed the $1 million mark for median selling prices, including Spring Valley and Wesley Heights, Chevy Chase, and Georgetown.
With an average purchase price of $324,970, the Sunshine State is calling. The market there is so good that this year may prove to be the best ever in Southwest Florida, according to the News-Press.