Here’s The Cost Of Homes In Every U.S. State For 2023
Housing prices in the United States have been on the rise in recent years, with demand outpacing supply in many markets. According to Statista, as of 2023, the median home price in the U.S. is $392,000, but it is set to decrease by the end of the year.
However, housing prices can vary widely depending on location, taxes, the cost of living, and more. These upcoming median prices of homes can be attributed to World Population Review.
World Population Review found that the median housing price in Hawaii for 2023 is $636,400, making it one of the most expensive states to purchase a home in the United States.
The high cost of living and limited land availability are contributing factors to the high housing prices in Hawaii, which can make it challenging for many residents and potential homebuyers to afford homeownership in the state.
Washington, D.C.: $618,100
As of 2023, the median housing price in Washington, D.C., is $618,100, which is significantly higher than the national average.
The city's robust economy, cultural attractions, and limited housing inventory contribute to the high demand for homes and the subsequent high prices. The high cost of living in the city can make it challenging for many residents to purchase a home in the nation's capital.
The median housing price in California in 2023 is $538,500, which is higher than the national average. While the cost of living in California is generally high, the state's vibrant economy, pleasant climate, and diverse cultural offerings make it a desirable place to live.
However, the high housing prices can make it difficult for many Californians to afford homeownership.
As of 2023, the median housing price in Massachusetts is $398,800, which is higher than the national average but lower than some other expensive states.
The state's strong economy, world-class educational institutions, and natural beauty make it an attractive place to live, but the high cost of living can be a barrier to homeownership for many.
Those who want to buy a house in Colorado should know the median price is $369,900 in 2023.
Colorado's beautiful natural scenery, booming economy, and outdoor recreation opportunities make it a popular place to live. However, this means that there is a higher demand for homes in this mountainous state.
The median housing price in Washington state is $366,800, which makes it one of the most expensive states to own a home.
The state's thriving technology sector, beautiful scenery, and outdoor recreational opportunities make it a desirable place to live. However, one of the most difficult cities to afford a home in Washington is Seattle.
New Jersey: $343,500
One of the reasons why the housing prices in New Jersey are so competitive is its location. The median housing price for the state in 2023 is $343,500.
The state's proximity to New York City and Philadelphia and its strong schools and transportation infrastructure make it a desirable place to live.
In 2023, the median housing price for Oregon is $336,700. The housing market in Oregon is diverse, with a mix of urban and rural areas offering a variety of housing options.
The state's natural beauty, recreational opportunities, and progressive culture make it a popular place to live. However, some parts of the state, such as Portland, have experienced rapid price increases.
Maryland's great schools, proximity to major cities, and diverse economy make it an attractive place to live. This has led to their median housing price being $325,400 in 2023.
While some areas of the state, such as the Washington D.C. suburbs, have seen huge price increases in recent years, other areas have remained relatively affordable.
New York: $325,000
New York's median home price of $325,000 can be daunting in 2023, but upstate areas such as Syracuse, Rochester, and Buffalo boast more affordable prices and offer a unique blend of historic architecture, scenic landscapes, and cultural attractions.
Regardless of where you choose to live in New York, you're sure to find a neighborhood that suits your lifestyle and budget.
Utah's housing market is a reflection of the state's unique blend of natural beauty, booming economy, and vibrant culture. From the ski resorts of Park City to the bustling city streets of Salt Lake City, Utah, it offers a range of housing options to suit every lifestyle and budget.
This has led to the housing price in 2023 being $305,400.
Nevada's housing market looks promising for the foreseeable future. It is estimated that the median housing price in the state is $290,200 in 2023, which signifies a strong and growing market.
With Nevada's robust economy and ideal climate, those looking to purchase a new property in the near future should certainly consider the area.
The median housing price in Virginia is $282,800 in 2023. Virginia offers a mix of historic charm, modern amenities, and natural beauty.
The state's rich history is reflected in its colonial architecture, Civil War battlefields, and iconic landmarks like Monticello and Mount Vernon. Meanwhile, Virginia's growing tech industry and proximity to the nation's capital make it an attractive destination for young professionals.
From the charming coastal towns of Mystic and Old Saybrook to the bustling urban centers of Hartford and New Haven, Connecticut offers a range of housing options to suit every taste and budget.
Whether you're seeking a quaint New England escape or a bustling city experience, Connecticut's housing market has something for everyone. The current median housing price for 2023 is $279,700.
Rhode Island: $276,600
As of 2023, the median housing price in Rhode Island is $276,600. The state's small size, charming coastal towns, and historic landmarks make it a popular destination for tourists and residents alike.
With its convenient location between Boston and New York City and relatively affordable cost of living, Rhode Island is an ideal place to call home for those seeking a blend of coastal charm and urban accessibility.
The Alaska housing market has become increasingly popular in recent years. Low mortgage interest rates, the booming local economy, and the draw of Alaska's unique scenery have allowed the market to expand significantly.
Buildings and homes from Fairbanks to Anchorage have become increasingly sought after, and new construction projects are breaking ground all across the state. This has led to their median housing price being $275,600 in 2023.
New Hampshire: $272,300
New Hampshire's housing market offers a blend of natural beauty, quaint small towns, and thriving urban centers. The state's White Mountains, Lakes Region, and Seacoast areas attract tourists and residents alike.
The median cost of a home in New Hampshire for 2023 is $272,300, which means it has a relatively lost cost of living compared to other New England states.
As of 2023, the median housing price in Delaware is $258,300, which is relatively affordable compared to many other states on the East Coast. The state's small size, historic landmarks, and beautiful beaches make it a popular destination for tourists and residents alike.
Also, the state's proximity to major cities like Philadelphia and Baltimore can also make it attractive for those seeking urban amenities.
The median housing price in Montana for 2023 is $244,900, which is lower than the national average. The state's wide open spaces, rugged landscapes, and outdoor recreational opportunities make it a popular place to live for those seeking a more laid-back lifestyle.
Montana's strong economy and low cost of living also make it an attractive destination for retirees and young families alike.
Arizona's warm climate, breathtaking natural landscapes, and outdoor recreation opportunities make it one of the most sought-after states to buy a home.
Its booming economy and diverse cultural offerings, particularly in cities like Phoenix and Tucson, give people a reason to put down thousands of dollars on a home. The median housing price in Arizona for 2023 is $242,000.
As of 2023, the median housing price in Minnesota is $235,700, which is lower than the national average. The state's strong economy, thriving arts and culture scene, and beautiful natural landscapes make it an attractive place to live.
Minnesota's vibrant Twin Cities, Minneapolis, and St. Paul offer a mix of city and rural life that can't be found in many other states.
The housing market in Idaho is thriving, with rising home values across the state. Homes are selling as fast as they come on the market, and Idaho is ranked as one of the fastest-growing states for housing sales.
Low-interest rates and historically low inventories are contributing to the strong market. The current median housing price for Idaho in 2023 is $235,600.
Florida's warm climate, beautiful beaches, and vibrant cultural scene make it a popular destination for retirees and families. The diverse economy, particularly in cities like Miami and Orlando, also makes it an attractive place to call home.
The median housing price for Florida in 2023 is $232,000, which makes it relatively affordable compared to other states.
The housing market in Vermont is characterized by its charming small towns, beautiful natural landscapes, and a strong sense of community. While some areas of the state have seen increasing housing prices in recent years, other areas remain relatively affordable.
The state's thriving arts and culture scene, outdoor landmarks, and schools make it a desirable place to live. Vermont's median housing price is $230,900 for 2023.
Wyoming's median housing price in 2023 is $228,000. This is a reflection of the state's rugged natural beauty, small-town charm, and thriving energy sector.
The state's outdoor recreational opportunities, including Yellowstone National Park, make it an attractive destination for tourists and residents alike. Wyoming remains relatively affordable compared to many other Western states.
In 2023, the median housing price in Illinois is $202,100. This means that real estate in the state is estimated to remain affordable and a sound investment for the foreseeable future.
Buyers should be sure to consider the advantages that Illinois has to offer and keep a sharp eye on the ever-changing housing market.
North Dakota: $199,900
North Dakota's housing market in 2023 offers a unique blend of small-town charm, rugged natural beauty, and thriving industry. The state's abundant oil reserves have fueled a booming economy and attracted workers from across the country.
The state's affordable cost of living, friendly communities, and more make it an ideal place to call home. In 2023, the median housing price in North Dakota is $199,900.
Maine's housing market has seen steady growth for many years due to its relatively low cost of living and abundance of scenic waterways. Natural beauty, job opportunities, and recreational activities make it a desirable state to live in.
This has led the median housing prices to be $198,000 in 2023.
Georgia has an estimated median housing price of $190,200 in 2023. It is forecasted that this number will continue to rise in subsequent years, with housing prices continuing to be a great indicator of the state's economic growth.
Homeownership has never been more accessible, and the housing outlook is positive.
As of 2023, the median housing price in Wisconsin is $189,200. Wisconsin's housing market in 2023 offers a unique blend of Midwestern charm, natural beauty, and urban amenities.
The state's largest city, Milwaukee, boasts a thriving arts and culture scene, while the state capital, Madison, offers a vibrant college town atmosphere.