Mapped: Median Home Sale Price by U.S. State

Kayla Zhu
2024-11-06 13:51:00
www.visualcapitalist.com

See this visualization first on the Voronoi app.

Median Home Sale Price By U.S. State in 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In 2024, buying a home in the U.S. looks vastly different depending on where you are.

Factors like local demand, land availability, economic conditions, and housing regulations all contribute to the median home prices in each state.

This map visualizes the median home sale price for a single-family home in each U.S. state in 2024. The data is updated as of September 2024 and comes from ATTOM.

Which States Have the Highest Home Sales Prices?

State	Median Estimated Home Sales Price
Hawaii	$851,930
California	$776,000
District of Columbia	$659,072
Massachusetts	$640,113
Washington	$609,540
Colorado	$561,205
Utah	$530,041
New Jersey	$523,500
Oregon	$511,434
New Hampshire	$500,429
Rhode Island	$487,985
New York	$476,429
Idaho	$456,839
Nevada	$445,883
Maryland	$436,985
Arizona	$435,839
Vermont	$411,381
Florida	$405,289
Connecticut	$403,750
Delaware	$399,857
Virginia	$394,678
Montana	$388,053
Maine	$384,783
Alaska	$381,744
Minnesota	$348,126
Wyoming	$344,432
North Carolina	$340,330
Georgia	$333,903
Tennessee	$327,855
South Dakota	$318,000
Texas	$314,750
Wisconsin	$305,000
South Carolina	$301,057
New Mexico	$301,000
Illinois	$286,413
Pennsylvania	$279,709
Michigan	$262,814
Nebraska	$262,637
Missouri	$259,250
North Dakota	$253,116
Kansas	$238,824
Indiana	$238,411
Alabama	$235,675
Ohio	$230,500
Kentucky	$211,235
Iowa	$203,770
Arkansas	$203,067
Oklahoma	$200,378
Louisiana	$190,900
Mississippi	$183,507
West Virginia	$167,110

As of August 2024, the median home sales price for a single-family home in the United States is about $385,000.

Hawaii has the highest median house price in the U.S. at around $852,000, over double the national average, primarily due to its limited land availability, strict housing regulations, and high demand for housing in a desirable climate.

A University of Hawaii report found that regulatory costs, including lengthy permitting processes and strict zoning laws, account for more than half (58%) of the median price of a new condominium in Hawaii.

Hawaii’s finite land area and high demand driven by tourism and military presence further inflate property values.

California comes in at second, with a median home price of $776,000. The coastal state is home to some of the most unaffordable metropolitan areas in the U.S., including Los Angeles and San Jose, where the home price-to-income ratio is over 10.

Predominantly rural states like West Virginia ($167K), Mississippi ($184K), and Arkansas ($191K) have significantly lower median home prices than urbanized states like California ($776K) or New York ($476K).

Learn More on the Voronoi App

To learn more about the U.S. real estate market, check out this graphic that visualizes which states have the most cities where homes average $1 million or more.

The post Mapped: Median Home Sale Price by U.S. State appeared first on Visual Capitalist.

Source Link

Support Techcratic

If you find value in Techcratic’s insights and articles, consider supporting us with Bitcoin. Your support helps me, as a solo operator, continue delivering high-quality content while managing all the technical aspects, from server maintenance to blog writing, future updates, and improvements. Support Innovation! Thank you.

Bitcoin Address:

bc1qlszw7elx2qahjwvaryh0tkgg8y68enw30gpvge

Please verify this address before sending funds.