Affordable Markets: 17 States Where The Median Home Price Is Under $300,000
Record high home prices are making it increasingly difficult for many people to afford to purchase a home. The median home price gives us an idea of what a typical home costs. It means half of the homes sold for more than this price, and half sold for less. When we look at this, along with mortgage rates and other factors, we can understand how affordable it is to buy a home.
According to Redfin’s monthly housing data, the state with the cheapest homes had a median price of $229,000, while the state with the priciest homes had a median price of $787,000. This data includes all types of homes, like single-family houses, condos, and townhomes.
Iowa
The median home price in Iowa is $229,000. The “Corn State” proudly delivers a peaceful lifestyle characterized by vast expanses of farmland, charming small towns, and friendly locals.
Ohio
The median home price in Ohio stands at $235,000. Whether you’re exploring small towns or big cities, attending a world-class arts performance, or eating delicious local cuisine, Ohio has something for everyone.
Oklahoma
Oklahoma’s median home price is $235,000. The state has some out-of-the-ordinary nature, like the Wichita Mountains and Little Sahara.
Louisiana
The median home price in Louisiana is $243,000. From the uppity streets of New Orleans to the serene bayous of the Cajun Country, Louisiana is a state steeped in culture and history.
Kentucky
The median home price in Kentucky is $250,000. Known as the “Bluegrass State,” Kentucky is famous for its horse racing, bourbon distilleries, and bluegrass fields covering its rolling hills.
Indiana
The median home price in Indiana is $250,000. The Hoosier State has a lot to offer, from the Indy 500 to the rolling hills of Southern Indiana.
Michigan
Michigan’s median home price is $253,000. The state is home to the attractive city of Detroit and the picturesque shores of the Great Lakes.
Arkansas
The median home price in Arkansas is $256,000. The Natural State earned its name from its stunning, untouched natural beauty, which includes the Ozark Mountains.
Mississippi
In Mississippi, the median home price is $258,000. Residents of Mississippi enjoy a laid-back lifestyle steeped in Southern hospitality and rich cultural heritage.
Missouri
Missouri’s median home price is $258,000. It is home to the iconic Gateway Arch in St. Louis and the beautiful Ozark mountains.
Kansas
The median home price in Kansas stands at $259,000. The state is famous for its wide-open spaces and friendly communities.
Illinois
Illinois boasts a median home price of $272,000. Illinois is a state of stark contrasts, from Chicago’s architectural wonders to the rolling plains of the heartland.
Alabama
Alabama’s median home price is $275,000. The state is known as the “Heart Of The South,” so you know its Southern Hospitality is phenomenal. Alabama goes from the foothills of Appalachia all the way down to the beaches on the Gulf Of Mexico.
Pennsylvania
Pennsylvania’s median home price is $276,000. The state is home to the iconic cities of Philadelphia and Pittsburgh and offers pristine scenery in between.
Nebraska
The median home price in Nebraska is $282,000. From the wide-open prairies to the bustling streets of Omaha and Lincoln, the state delivers a variety.
West Virginia
West Virginia’s median home price sits at $285,000. The state is known for its stunning Appalachian mountains and high poverty rate.
Wisconsin
Wisconsin boasts a median home price of $298,000. The state has charming towns and a love for cheese and beer.
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