13 States That Have Cheaper Housing Than Florida

felixmizioznikov / Getty Images/iStockphoto

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 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Because it enjoys a warm climate all year, Florida has always attracted Northerners flocking southward for a temporary respite from the cold snap of late fall to early spring. However, the Sunshinte State has seen a remarkable increase of people moving there permanently since the start of the pandemic.

According to the U.S. Census, between July 2021 and July 2022 alone, Florida’s population increased by more than 400,000, making it the fastest-growing state for the first time in 65 years. For a state that already has the third-largest population in the country, those are stunning migration numbers.

That said, while housing in Florida was once rather affordable, the average Florida home value is now $399,807, up 3.4% over the past year and around $41,000 higher than the national average, according to Zillow. Although Florida has no state tax, the cost of living is right around the U.S. average, and while there exists cheaper houses in inland cities — Lake City, Pensacola, Panama City — Florida is getting more expensive all the time.    

If you’re looking to pull up stakes and move to a new state to live in, Florida has features that would appeal to almost everyone. But it is by all means not the least expensive state for housing. If saving money is your prime objective, there are many states where housing is much cheaper than Florida, and many with as agreeable weather too.  

Here are 13 states that have cheaper housing than Florida. There are some important figures to consider, including recent Zillow average home values and median sale prices, April 2024 state median annual incomes (courtesy of CNBC Make It, using U.S. Bureau of Labor Statistics data) and the May 2024 median monthly rent, per Zillow Rental Data:

13. North Dakota

• Average Home Value (Apr. 30, 2024): $257,599
• Median Sale Price (Mar. 31, 2024): $185,300
• Median Annual Income (April 2024): $48,830
• Median Monthly Rent (May 2024): $950

12. Missouri

• Average Home Value (Apr. 30, 2024): $247,255
• Median Sale Price (Mar. 31, 2024): $228,267
• Median Annual Income (April 2024): $45,080
• Median Monthly Rent (May 2024): $1,300

11. Indiana

• Average Home Value (Apr. 30, 2024): $241,778
• Median Sale Price (Mar. 31, 2024): $222,667
• Median Annual Income (April 2024): $45,470
• Median Monthly Rent (May 2024): $1,368

10. Alabama

• Average Home Value (Apr. 30, 2024): $228,241
• Median Sale Price (Mar. 31, 2024): $218,050
• Median Annual Income (April 2024): $41,350
• Median Monthly Rent (May 2024): $1,400

9. Ohio

• Average Home Value (Apr. 30, 2024): $227,542
• Median Sale Price (Mar. 31, 2024): $188,417
• Median Annual Income (April 2024): $46,690
• Median Monthly Rent (May 2024): $1,289

8. Kansas

• Average Home Value (Apr. 30, 2024): $226,870
• Median Sale Price (Mar. 31, 2024): $271,868
• Median Annual Income (April 2024): $45,250
• Median Monthly Rent (May 2024): $1,200

7. Iowa

• Average Home Value (Apr. 30, 2024): $217,641
• Median Sale Price (Mar. 31, 2024): $197,583
• Median Annual Income (April 2024): $46,460
• Median Monthly Rent (May 2024): $1,092

6. Kentucky

• Average Home Value (Apr. 30, 2024): $207,548
• Median Sale Price (Mar. 31, 2024): $229,933
• Median Annual Income (April 2024): $43,730
• Median Monthly Rent (May 2024): $1,338

5. Oklahoma

• Average Home Value (Apr. 30, 2024): $206,689
• Median Sale Price (Mar. 31, 2024): $203,667
• Median Annual Income (April 2024): $41,480
• Median Monthly Rent (May 2024): $1,395

4. Arkansas

• Average Home Value (Apr. 30, 2024): $206,394
• Median Sale Price (Mar. 31, 2024): $212,230
• Median Annual Income (April 2024): $39,060
• Median Monthly Rent (May 2024): $1,403

3. Louisiana

• Average Home Value (Apr. 30, 2024): $202,392
• Median Sale Price (Mar. 31, 2024): $214,383
• Median Annual Income (April 2024): $41,320
• Median Monthly Rent (May 2024): $1,500

2. Mississippi

• Average Home Value (Apr. 30, 2024): $179,749
• Median Sale Price (Mar. 31, 2024): $185,300
• Median Annual Income (April 2024): $37,500
• Median Monthly Rent (May 2024): $1,400

1. West Virginia

• Average Home Value (Apr. 30, 2024): $163,443
• Median Sale Price (Mar. 31, 2024): $185,300
• Median Annual Income (April 2024): $39,770
• Median Monthly Rent (May 2024): $995

Share This Article: