If you’re hoping to buy a house in the near future, your pathway to purchase will look quite different depending on where exactly you want to live. The definition of affordability isn’t identical across the entire country, so it’s important to think about where you can get the biggest bang for your buck. Here we break down the nationwide median house price by state.

How much does a home cost in the United States?

According to data from the National Association of Realtors, the median price for an existing home — one that’s already standing, not new construction — was $410,200 in June 2023. That’s the second-highest price tag since the association started tracking the data. (The all-time high of $413,800 occurred at the peak of the housing boom in June 2022.)

If you’re wondering whether you should buy a house now, or wait in the hopes that prices might come down significantly, you could be out of luck. The housing market tends to follow the law of supply and demand, and since there isn’t enough supply to match demand, home prices are looking fairly resilient.

Home prices generally rise over time, but they do fluctuate in the short-term. For example, seasonality plays a role: The median price in January was just $359,000 before beginning its steady climb up to June’s $410,200, a reflection of the fact that buying and selling activity tends to slow down in the cold-weather months.

Median house prices by state

To get a sense of how house prices vary by state, we combed through Redfin’s monthly housing market data as of June 2023. Median sale prices from North Dakota and Wyoming are based on figures from ATTOM.

State Price
Alabama $286,000
Alaska $384,000
Arizona $443,000
Arkansas $259,000
California $799,000
Colorado $582,000
Connecticut $432,000
Delaware $335,000
District of Columbia $606,000
Florida $409,000
Georgia $376,000
Hawaii $713,000
Idaho $460,000
Illinois $295,000
Indiana $258,000
Iowa $239,000
Kansas $282,000
Kentucky $257,000
Louisiana $260,000
Maine $389,000
Maryland $433,000
Massachusetts $640,000
Michigan $260,000
Minnesota $353,000
Mississippi $263,000
Missouri $267,000
Montana $527,000
Nebraska $296,000
Nevada $437,000
New Hampshire $468,000
New Jersey $498,000
New Mexico $354,000
New York $531,000
North Carolina $378,000
North Dakota $308,000
Ohio $249,000
Oklahoma $256,000
Oregon $510,000
Pennsylvania $300,000
Rhode Island $471,000
South Carolina $381,000
South Dakota $332,000
Tennessee $385,000
Texas $362,000
Utah $545,000
Vermont $390,000
Virginia $445,000
Washington $621,000
West Virginia $297,000
Wisconsin $307,000
Wyoming $323,000

States with the most expensive homes

California: $799,000

The cost of living in California is notoriously high, and housing costs are a big driver of those elevated expenses. Of course, you get what you pay for, and to many, a Pacific coast getaway or desert retreat is worth the price. Remember, though, that this state is massive, and while you probably won’t find a bargain in Malibu, the California housing market has plenty of budget-friendly options too, particularly inland.

Hawaii: $713,000

From big-city energy in Honolulu to quiet-retreat vibes on Kauai, life in this state can make you feel like you’re always on vacation. While it’s not quite as pricey as California when it comes to housing, don’t be fooled: It might actually cost you more to live here, as utilities and food tend to be more expensive on the islands than they are in the continental U.S.

Massachusetts: $640,000

Massachusetts may be relatively small size-wise, but the housing market in this densely populated state pumps out some big numbers. It’s hard to put a price tag on New England charm, of course, and for many residents the professional opportunities in and around Boston can justify it.

Washington: $621,000

With major names like Microsoft, Amazon and Starbucks headquartered here, Washington is a great place to look for a high-paying job. Which is good, because you’ll need to spend a lot of your income on a home. The Washington housing market can be tough, particularly in the Seattle area.

District of Columbia: $606,000

The other Washington — Washington, D.C. — may not technically be a state, but it’s certainly an expensive place to buy a home. Our nation’s capital covers a fairly small area with an outsize demand for housing. The surrounding suburbs, like Alexandria and Arlington in Virginia, also lean toward the pricey side.

States with the most affordable homes

Iowa: $239,000

The first state to weigh in on presidential elections is also the first entry on our list when it comes to finding a cheap place to live. While Iowa is best known for its farming country, the state also offers small-city vibes in Des Moines, Cedar Rapids and Iowa City. And if you’re ready to stop working, you should start looking at Iowa: It’s Bankrate’s best state to retire in.

Ohio: $249,000

OH…IO! That familiar cheer from the crowd at Ohio State University football games isn’t just for touchdowns anymore; it’s for a housing market that feels like a win for anyone on a tight budget. The Buckeye State offers a balance of big cities like Cincinnati, Columbus and Cleveland with many smaller towns in-between.

Oklahoma: $256,000

The heartland continues its affordable streak in Oklahoma, with home prices considerably lower than its neighbor to the south, Texas. The Sooner State is an affordable option whether you want a bucolic farmhouse, a more urban vibe in Oklahoma City or a college sports haven in Norman.

Kentucky: $257,000

There’s a lot more to love about this state than the iconic Kentucky Derby — and the high-quality, equally iconic bourbon. From the bustle of downtown Louisville to quiet rural homes in horse-farm country, the Bluegrass State won’t cost you too much green.

Indiana: $258,000

It might be known as the Crossroads of America, but there’s a big reason to stop in Indiana: affordability. From college-town charm in Bloomington to big-city possibilities in Indianapolis, the state offers a laid-back Midwestern energy.

Can you afford to live in this state?

The prices listed here are medians — that means half of the homes in each state sold for more, and half sold for less. So just because you can’t afford to spend $799,000 on a house doesn’t mean you can’t afford to live anywhere in California: Fully half of the homes there sold for less than that.

Real estate is a local game, and you should be sure to look at individual towns and neighborhoods to figure out what works for your budget. If you love a particular city, you can often get more bang for your buck just outside of it. Explore local programs for first-time homebuyers and low-income buyers, too, which can help cover a down payment and closing costs for those who qualify.

Bankrate’s new-home calculator can help you figure out how much house you can afford. Another useful guideline is the 28 percent rule: Many experts advise limiting your housing expenses to no more than 28 percent of your income. If you earn $7,000 per month, for example, that means keeping your total housing costs at $1,960 or less.

Next steps

Whether you’re looking in the most expensive parts of the country or you’re looking out for a bargain, there is one common ingredient: It’s smart to work with an experienced local real estate agent. Local agents are experts in their markets, and with the housing market continuing to favor sellers in most parts of the country, professional expertise is invaluable for any homebuyer.


  • The median price is the middle value, which means that half the housing inventory in the area costs less and the other half costs more. An average price, on the other hand, reflects a number that adds up all the sales prices and divides by the number sold. Most real estate experts look at the median price as a more accurate picture of the market.
  • With a median price tag of $239,000, per June 2023 Redfin data, Iowa claims the top spot as the most affordable place to buy a home in the U.S.
  • California. The Golden State’s median price tag of $799,000, per June 2023 Redfin data, was more expensive than any other state in the country. It outpaced the second-most-expensive state, Hawaii, by $86,000.