The Cost To Own a 3-Bedroom Home in Every State

Three bedrooms will cost you much more in some states.

By John Csiszar May 9, 2022 Real Estate Investing 101

The three-bedroom house is something of a standard for many American families. They’re a great fit for a family of four, but those bedrooms can just as easily become home gyms, art studios or the ever-popular home office in this age of remote working. If you want enough space for your family but don’t want to buy too much house, three bedrooms can be that simple compromise that splits the difference.

But the price of a three-bedroom home is not the same everywhere you go. Depending on the state you call home, the typical three-bedroom house can list at anywhere from about $149,000 to more than $900,000. That’s why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.

The states are ranked based on the average monthly mortgage payment for three-bedroom homes — from least to most expensive. For additional context, GOBankingRates included a variety of other important factors that affect overall affordability, like the average size of a 20% down payment and the average effective property tax rate.

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The end result is a clearer picture of which states offer a friendly market for those shopping for a modest family home and which will price most people out of the market before they start looking.

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West Virginia

Average 3-bedroom home value: $140,636
20% down payment: $28,127
Average effective state property tax: 0.53%
Monthly mortgage payment: $666
Annual mortgage cost: $7,992

Mississippi

Average 3-bedroom home value: $167,152
20% down payment: $33,430
Average effective state property tax: 0.63%
Monthly mortgage payment: $806
Annual mortgage cost: $9,672

Oklahoma

Average 3-bedroom home value: $174,939
20% down payment: $34,988
Average effective state property tax: 0.83%
Monthly mortgage payment: $872
Annual mortgage cost: $10,464

Alabama

Average 3-bedroom home value: $197,896
20% down payment: $39,579
Average effective state property tax: 0.37%
Monthly mortgage payment: $911
Annual mortgage cost: $10,932

Louisiana

Average 3-bedroom home value: $199,802
20% down payment: $39,960
Average effective state property tax: 0.51%
Monthly mortgage payment: $943
Annual mortgage cost: $11,316

Kentucky

Average 3-bedroom home value: $191,595
20% down payment: $38,319
Average effective state property tax: 0.78%
Monthly mortgage payment: $947
Annual mortgage cost: $11,364

Arkansas

Average 3-bedroom home value: $200,131
20% down payment: $40,026
Average effective state property tax: 0.61%
Monthly mortgage payment: $961
Annual mortgage cost: $11,532

Kansas

Average 3-bedroom home value: $194,090
20% down payment: $38,818
Average effective state property tax: 1.28%
Monthly mortgage payment: $1,041
Annual mortgage cost: $12,492

Iowa

Average 3-bedroom home value: $190,223
20% down payment: $38,045
Average effective state property tax: 1.43%
Monthly mortgage payment: $1,044
Annual mortgage cost: $12,528

Indiana

Average 3-bedroom home value: $210,195
20% down payment: $42,039
Average effective state property tax: 0.81%
Monthly mortgage payment: $1,045
Annual mortgage cost: $12,540

Ohio

Average 3-bedroom home value: $193,700
20% down payment: $38,740
Average effective state property tax: 1.52%
Monthly mortgage payment: $1,077
Annual mortgage cost: $12,924

Missouri

Average 3-bedroom home value: $223,155
20% down payment: $44,631
Average effective state property tax: 0.96%
Monthly mortgage payment: $1,137
Annual mortgage cost: $13,644

Michigan

Average 3-bedroom home value: $224,786
20% down payment: $44,957
Average effective state property tax: 1.31%
Monthly mortgage payment: $1,211
Annual mortgage cost: $14,532

North Dakota

Average 3-bedroom home value: $245,750
20% down payment: $49,150
Average effective state property tax: 0.88%
Monthly mortgage payment: $1,236
Annual mortgage cost: $14,832

South Carolina

Average 3-bedroom home value: $264,348
20% down payment: $52,870
Average effective state property tax: 0.53%
Monthly mortgage payment: $1,263
Annual mortgage cost: $15,156

Pennsylvania

Average 3-bedroom home value: $243,264
20% down payment: $48,653
Average effective state property tax: 1.43%
Monthly mortgage payment: $1,335
Annual mortgage cost: $16,020

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Nebraska

Average 3-bedroom home value: $240,854
20% down payment: $48,171
Average effective state property tax: 1.54%
Monthly mortgage payment: $1,343
Annual mortgage cost: $16,116

Georgia

Average 3-bedroom home value: $267,962
20% down payment: $53,592
Average effective state property tax: 0.87%
Monthly mortgage payment: $1,345
Annual mortgage cost: $16,140

New Mexico

Average 3-bedroom home value: $285,168
20% down payment: $57,034
Average effective state property tax: 0.59%
Monthly mortgage payment: $1,365
Annual mortgage cost: $16,380

Tennessee

Average 3-bedroom home value: $286,943
20% down payment: $57,389
Average effective state property tax: 0.63%
Monthly mortgage payment: $1,383
Annual mortgage cost: $16,596

North Carolina

Average 3-bedroom home value: $282,453
20% down payment: $56,491
Average effective state property tax: 0.78%
Monthly mortgage payment: $1,397
Annual mortgage cost: $16,764

South Dakota

Average 3-bedroom home value: $267,796
20% down payment: $53,559
Average effective state property tax: 1.14%
Monthly mortgage payment: $1,404
Annual mortgage cost: $16,848

New York

Average 3-bedroom home value: $263,811
20% down payment: $52,762
Average effective state property tax: 1.30%
Monthly mortgage payment: $1,421
Annual mortgage cost: $17,052

Wisconsin

Average 3-bedroom home value: $255,497
20% down payment: $51,099
Average effective state property tax: 1.53%
Monthly mortgage payment: $1,423
Annual mortgage cost: $17,076

Wyoming

Average 3-bedroom home value: $304,883
20% down payment: $60,977
Average effective state property tax: 0.51%
Monthly mortgage payment: $1,439
Annual mortgage cost: $17,268

Delaware

Average 3-bedroom home value: $304,146
20% down payment: $60,829
Average effective state property tax: 0.59%
Monthly mortgage payment: $1,456
Annual mortgage cost: $17,472

Illinois

Average 3-bedroom home value: $246,366
20% down payment: $49,273
Average effective state property tax: 1.97%
Monthly mortgage payment: $1,462
Annual mortgage cost: $17,544

Virginia

Average 3-bedroom home value: $305,715
20% down payment: $61,143
Average effective state property tax: 0.84%
Monthly mortgage payment: $1,527
Annual mortgage cost: $18,324

Texas

Average 3-bedroom home value: $273,188
20% down payment: $54,638
Average effective state property tax: 1.60%
Monthly mortgage payment: $1,537
Annual mortgage cost: $18,444

Minnesota

Average 3-bedroom home value: $321,335
20% down payment: $64,267
Average effective state property tax: 1.05%
Monthly mortgage payment: $1,661
Annual mortgage cost: $19,932

Alaska

Average 3-bedroom home value: $333,120
20% down payment: $66,624
Average effective state property tax: 0.98%
Monthly mortgage payment: $1,703
Annual mortgage cost: $20,436

Maryland

Average 3-bedroom home value: $345,636
20% down payment: $69,127
Average effective state property tax: 1.01%
Monthly mortgage payment: $1,775
Annual mortgage cost: $21,300

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Florida

Average 3-bedroom home value: $367,190
20% down payment: $73,438
Average effective state property tax: 0.86%
Monthly mortgage payment: $1,840
Annual mortgage cost: $22,080

Maine

Average 3-bedroom home value: $356,075
20% down payment: $71,215
Average effective state property tax: 1.20%
Monthly mortgage payment: $1,885
Annual mortgage cost: $22,620

Connecticut

Average 3-bedroom home value: $339,079
20% down payment: $67,816
Average effective state property tax: 1.73%
Monthly mortgage payment: $1,945
Annual mortgage cost: $23,340

Arizona

Average 3-bedroom home value: $406,287
20% down payment: $81,257
Average effective state property tax: 0.60%
Monthly mortgage payment: $1,948
Annual mortgage cost: $23,376

Vermont

Average 3-bedroom home value: $347,145
20% down payment: $69,429
Average effective state property tax: 1.76%
Monthly mortgage payment: $2,000
Annual mortgage cost: $24,000

Nevada

Average 3-bedroom home value: $428,265
20% down payment: $85,653
Average effective state property tax: 0.56%
Monthly mortgage payment: $2,039
Annual mortgage cost: $24,468

Idaho

Average 3-bedroom home value: $456,517
20% down payment: $91,303
Average effective state property tax: 0.65%
Monthly mortgage payment: $2,208
Annual mortgage cost: $26,496

Connecticut

Average 3-bedroom home value: $339,079
20% down payment: $67,816
Average effective state property tax: 1.73%
Monthly mortgage payment: $1,945
Annual mortgage cost: $23,340

Montana

Average 3-bedroom home value: $455,754
20% down payment: $91,151
Average effective state property tax: 0.74%
Monthly mortgage payment: $2,238
Annual mortgage cost: $26,856

Rhode Island

Average 3-bedroom home value: $416,006
20% down payment: $83,201
Average effective state property tax: 1.37%
Monthly mortgage payment: $2,262
Annual mortgage cost: $27,144

Utah

Average 3-bedroom home value: $511,435
20% down payment: $102,287
Average effective state property tax: 0.56%
Monthly mortgage payment: $2,435
Annual mortgage cost: $29,220

Oregon

Average 3-bedroom home value: $491,227
20% down payment: $98,245
Average effective state property tax: 0.91%
Monthly mortgage payment: $2,482
Annual mortgage cost: $29,784

New Jersey

Average 3-bedroom home value: $414,889
20% down payment: $82,978
Average effective state property tax: 2.13%
Monthly mortgage payment: $2,518
Annual mortgage cost: $30,216

New Hampshire

Average 3-bedroom home value: $431,835
20% down payment: $86,367
Average effective state property tax: 1.89%
Monthly mortgage payment: $2,535
Annual mortgage cost: $30,420

Colorado

Average 3-bedroom home value: $544,002
20% down payment: $108,800
Average effective state property tax: 0.52%
Monthly mortgage payment: $2,572
Annual mortgage cost: $30,864

Massachusetts

Average 3-bedroom home value: $541,463
20% down payment: $108,293
Average effective state property tax: 1.06%
Monthly mortgage payment: $2,804
Annual mortgage cost: $33,648

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Washington

Average 3-bedroom home value: $579,211
20% down payment: $115,842
Average effective state property tax: 0.84%
Monthly mortgage payment: $2,893
Annual mortgage cost: $34,716

California

Average 3-bedroom home value: $728,128
20% down payment: $145,626
Average effective state property tax: 0.70%
Monthly mortgage payment: $3,552
Annual mortgage cost: $42,624

Hawaii

Average 3-bedroom home value: $911,290
20% down payment: $182,258
Average effective state property tax: 0.31%
Monthly mortgage payment: $4,149
Annual mortgage cost: $49,788

More From GOBankingRates

Jordan Rosenfeld contributed to the reporting for this article.

_{Methodology: GOBankingRates determined the cost to own a three-bedroom home in every state by analyzing all 50 U.S. states along the following criteria: (1) average home value for a three-bedroom home, sourced from Zillow’s March 2022 index; (2) monthly mortgage payment, using Zillow’s mortgage calculator and based on the March 2022 average home value for a three-bedroom home, 20% down payment, the average state effective property tax sourced from the Tax Foundation and a 5.00% 30-year fixed mortgage, which is the current national average mortgage rate as of April 14, 2022, sourced from the Federal Reserve Bank of St. Louis; and (3) annual mortgage payment calculated by multiplying factor (2) by twelve. States were ranked by factor (2) with the lowest payment being best. All data compiled on April 20, 2022.}

About the Author

John Csiszar

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.