How Much House Does $300K, $400K and $500K Buy You in Every State?

A modest homebuying budget stretches further than you think across most of the United States. If you have $300,000 budgeted to buy a house, this amount would cover up to 1,500 square feet in homes across 25 states, or half of America. 

To find out how much house a $300,000 budget can afford, GOBankingRates sourced the Federal Reserve of St. Louis to find the median listing price per square foot of homes in the U.S. Each state’s housing cost index was then sourced, with the price per square foot for each state calculated. And in addition to $300,000, GOBankingRates also calculated the amount homebuyers could anticipate on $400,000 and $500,000 budgets.

How much house would you be able to buy?

• West Virginia is the sole state where $300,000 can purchase more than 2,000 square feet worth of home (2,185 square feet). As noted above, $300,000 in savings buys more than 1,500 square feet in 25 states.
• Hawaii ranked dead last for the amount of square footage $300,000 can buy (443 square feet). This is less than the average size of a studio apartment, which is typically measured between 500 and 600 square feet.
• A $300,000 budget buys less than 1,000 square feet of home in seven states. They include Maine (986 sq. ft.), Arizona (985 sq. ft.), New Jersey (969 sq. ft.), New York (787 sq. ft.), California (641 sq. ft.), Massachusetts (593 sq. ft.) and Hawaii.
• Not surprisingly, the cost per square foot increases in states with a high cost of living compared to those that are less expensive. The difference between the most expensive state (Hawaii, at $678 per square foot) and the cheapest (West Virginia at $167) is $511.

• Square feet for $300,000: 2,185
• Square feet for $400,000: 2,913
• Square feet for $500,000: 3,641
• Price per square foot: $137
• Housing cost-of-living index: 61.3

• Square feet for $300,000: 1,894
• Square feet for $400,000: 2,526
• Square feet for $500,000: 3,157
• Price per square foot: $158
• Housing cost-of-living index: 70.7

• Square feet for $300,000: 1,876
• Square feet for $400,000: 2,501
• Square feet for $500,000: 3,126
• Price per square foot: $160
• Housing cost-of-living index: 71.4

• Square feet for $300,000: 1,855
• Square feet for $400,000: 2,473
• Square feet for $500,000: 3,092
• Price per square foot: $162
• Housing cost-of-living index: 72.2

• Square feet for $300,000: 1,793
• Square feet for $400,000: 2,391
• Square feet for $500,000: 2,988
• Price per square foot: $167
• Housing cost-of-living index: 74.7

• Square feet for $300,000: 1,781
• Square feet for $400,000: 2,375
• Square feet for $500,000: 2,968
• Price per square foot: $168
• Housing cost-of-living index: 75.2

• Square feet for $300,000: 1,776
• Square feet for $400,000: 2,368
• Square feet for $500,000: 2,960
• Price per square foot: $169
• Housing cost-of-living index: 75.4

• Square feet for $300,000: 1,733
• Square feet for $400,000: 2,310
• Square feet for $500,000: 2,888
• Price per square foot: $173
• Housing cost-of-living index: 77.3

• Square feet for $300,000: 1,721
• Square feet for $400,000: 2,295
• Square feet for $500,000: 2,869
• Price per square foot: $174
• Housing cost-of-living index: 77.8

• Square feet for $300,000: 1,706
• Square feet for $400,000: 2,275
• Square feet for $500,000: 2,843
• Price per square foot: $176
• Housing cost-of-living index: 78.5

• Square feet for $300,000: 1,704
• Square feet for $400,000: 2,272
• Square feet for $500,000: 2,840
• Price per square foot: $176
• Housing cost-of-living index: 78.6

• Square feet for $300,000: 1,691
• Square feet for $400,000: 2,255
• Square feet for $500,000: 2,818
• Price per square foot: $177
• Housing cost-of-living index: 79.2

• Square feet for $300,000: 1,685
• Square feet for $400,000: 2,246
• Square feet for $500,000: 2,808
• Price per square foot: $178
• Housing cost-of-living index: 79.5

• Square feet for $300,000: 1,678
• Square feet for $400,000: 2,238
• Square feet for $500,000: 2,797
• Price per square foot: $179
• Housing cost-of-living index: 79.8

• Square feet for $300,000: 1,668
• Square feet for $400,000: 2,224
• Square feet for $500,000: 2,780
• Price per square foot: $180
• Housing cost-of-living index: 80.3

• Square feet for $300,000: 1,647
• Square feet for $400,000: 2,196
• Square feet for $500,000: 2,746
• Price per square foot: $182
• Housing cost-of-living index: 81.3

• Square feet for $300,000: 1,629
• Square feet for $400,000: 2,172
• Square feet for $500,000: 2,716
• Price per square foot: $184
• Housing cost-of-living index: 82.2

• Square feet for $300,000: 1,617
• Square feet for $400,000: 2,157
• Square feet for $500,000: 2,696
• Price per square foot: $185
• Housing cost-of-living index: 82.8

• Square feet for $300,000: 1,604
• Square feet for $400,000: 2,139
• Square feet for $500,000: 2,673
• Price per square foot: $187
• Housing cost-of-living index: 83.5

• Square feet for $300,000: 1,591
• Square feet for $400,000: 2,121
• Square feet for $500,000: 2,651
• Price per square foot: $189
• Housing cost-of-living index: 84.2

• Square feet for $300,000: 1,587
• Square feet for $400,000: 2,116
• Square feet for $500,000: 2,645
• Price per square foot: $189
• Housing cost-of-living index: 84.4

• Square feet for $300,000: 1,583
• Square feet for $400,000: 2,111
• Square feet for $500,000: 2,638
• Price per square foot: $190
• Housing cost-of-living index: 84.6

• Square feet for $300,000: 1,577
• Square feet for $400,000: 2,103
• Square feet for $500,000: 2,629
• Price per square foot: $190
• Housing cost-of-living index: 84.9

• Square feet for $300,000: 1,550
• Square feet for $400,000: 2,067
• Square feet for $500,000: 2,584
• Price per square foot: $194
• Housing cost-of-living index: 86.4

• Square feet for $300,000: 1,529
• Square feet for $400,000: 2,038
• Square feet for $500,000: 2,548
• Price per square foot: $196
• Housing cost-of-living index: 87.6

• Square feet for $300,000: 1,493
• Square feet for $400,000: 1,991
• Square feet for $500,000: 2,488
• Price per square foot: $201
• Housing cost-of-living index: 89.7

• Square feet for $300,000: 1,486
• Square feet for $400,000: 1,982
• Square feet for $500,000: 2,477
• Price per square foot: $202
• Housing cost-of-living index: 90.1

• Square feet for $300,000: 1,401
• Square feet for $400,000: 1,868
• Square feet for $500,000: 2,335
• Price per square foot: $214
• Housing cost-of-living index: 95.6

• Square feet for $300,000: 1,388
• Square feet for $400,000: 1,850
• Square feet for $500,000: 2,313
• Price per square foot: $216
• Housing cost-of-living index: 96.5

• Square feet for $300,000: 1,360
• Square feet for $400,000: 1,813
• Square feet for $500,000: 2,266
• Price per square foot: $221
• Housing cost-of-living index: 98.5

• Square feet for $300,000: 1,351
• Square feet for $400,000: 1,802
• Square feet for $500,000: 2,252
• Price per square foot: $222
• Housing cost-of-living index: 99.1

• Square feet for $300,000: 1,290
• Square feet for $400,000: 1,720
• Square feet for $500,000: 2,150
• Price per square foot: $233
• Housing cost-of-living index: 103.8

• Square feet for $300,000: 1,254
• Square feet for $400,000: 1,672
• Square feet for $500,000: 2,090
• Price per square foot: $239
• Housing cost-of-living index: 106.8

• Square feet for $300,000: 1,245
• Square feet for $400,000: 1,660
• Square feet for $500,000: 2,074
• Price per square foot: $241
• Housing cost-of-living index: 107.6

• Square feet for $300,000: 1,244
• Square feet for $400,000: 1,658
• Square feet for $500,000: 2,073
• Price per square foot: $241
• Housing cost-of-living index: 107.7

• Square feet for $300,000: 1,171
• Square feet for $400,000: 1,561
• Square feet for $500,000: 1,951
• Price per square foot: $256
• Housing cost-of-living index: 114.4

• Square feet for $300,000: 1,153
• Square feet for $400,000: 1,537
• Square feet for $500,000: 1,921
• Price per square foot: $260
• Housing cost-of-living index: 116.2

• Square feet for $300,000: 1,143
• Square feet for $400,000: 1,524
• Square feet for $500,000: 1,905
• Price per square foot: $263
• Housing cost-of-living index: 117.2

• Square feet for $300,000: 1,137
• Square feet for $400,000: 1,516
• Square feet for $500,000: 1,895
• Price per square foot: $264
• Housing cost-of-living index: 117.8

• Square feet for $300,000: 1,057
• Square feet for $400,000: 1,409
• Square feet for $500,000: 1,762
• Price per square foot: $284
• Housing cost-of-living index: 126.7

• Square feet for $300,000: 1,033
• Square feet for $400,000: 1,377
• Square feet for $500,000: 1,721
• Price per square foot: $291
• Housing cost-of-living index: 129.7

• Square feet for $300,000: 1,017
• Square feet for $400,000: 1,356
• Square feet for $500,000: 1,695
• Price per square foot: $295
• Housing cost-of-living index: 131.7

• Square feet for $300,000: 1,006
• Square feet for $400,000: 1,342
• Square feet for $500,000: 1,677
• Price per square foot: $298
• Housing cost-of-living index: 133.1

• Square feet for $300,000: 986
• Square feet for $400,000: 1,315
• Square feet for $500,000: 1,644
• Price per square foot: $304
• Housing cost-of-living index: 135.8

• Square feet for $300,000: 985
• Square feet for $400,000: 1,313
• Square feet for $500,000: 1,641
• Price per square foot: $305
• Housing cost-of-living index: 136

• Square feet for $300,000: 969
• Square feet for $400,000: 1,292
• Square feet for $500,000: 1,615
• Price per square foot: $310
• Housing cost-of-living index: 138.2

• Square feet for $300,000: 787
• Square feet for $400,000: 1,049
• Square feet for $500,000: 1,311
• Price per square foot: $381
• Housing cost-of-living index: 170.2

• Square feet for $300,000: 641
• Square feet for $400,000: 854
• Square feet for $500,000: 1,068
• Price per square foot: $468
• Housing cost-of-living index: 209.1

• Square feet for $300,000: 593
• Square feet for $400,000: 790
• Square feet for $500,000: 988
• Price per square foot: $506
• Housing cost-of-living index: 226

• Square feet for $300,000: 443
• Square feet for $400,000: 590
• Square feet for $500,000: 738
• Price per square foot: $678
• Housing cost-of-living index: 302.6

Methodology: For this study, GOBankingRates analyzed each state to find out how much house $300,000 can afford. First, GOBankingRates found the median listing price per square foot in the U.S., as sourced from the Federal Reserve of St. Louis for November 2024. Next, GOBankingRates found the housing cost index for each state, as sourced from the Missouri Economic and Research Information Center for Quarter 3 of 2024. Using this data, the price per square foot for each state was calculated, and using $300,000, $400,000, and $500,000 savings as a starting point, the total affordable square foot could calculated for each state. All data was collected on and is up to date as of Jan. 3, 2025.