Advertiser Disclosure

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

June 8, 2025

8 min Read

Written by Heather Taylor

Edited by Chris Cluff

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 YearsHelping You Live Richer

Reviewed by Experts

Trusted by Millions of Readers

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?

Key Findings

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.

1. West Virginia

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

2. Kansas

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

3. Alabama

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

4. Mississippi

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

5. Oklahoma

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

6. Arkansas

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

7. Iowa

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

8. Indiana

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

9. Kentucky

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

10. Michigan

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

11. Missouri

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

12. Georgia

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

13. Nebraska

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

14. North Dakota

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

15. Minnesota

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

16. Texas

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

17. Maryland

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

18. Tennessee

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

19. Pennsylvania

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

20. Illinois

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

21. Louisiana

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

22. Montana

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

23. New Mexico

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

24. South Carolina

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

25. Ohio

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

26. South Dakota

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

27. Wyoming

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

28. North Carolina

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

29. Delaware

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

30. Wisconsin

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

31. Idaho

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

32. Virginia

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

33. Nevada

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

34. Colorado

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

35. Florida

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

36. Rhode Island

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

37. New Hampshire

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

38. Connecticut

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

39. Alaska

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

40. Washington

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

41. Utah

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

42. Oregon

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

43. Vermont

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

44. Maine

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

45. Arizona

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

46. New Jersey

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

47. New York

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

48. California

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

49. Massachusetts

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

50. Hawaii

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.

More From GOBankingRates