GOBankingRates

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

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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 offices, gyms, art studios or whatever else you can imagine should you live alone or be an empty nester. 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.

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But 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 $125,000 to more than $740,000. 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.

Things You Know: 40 Things Every 40+ Should Know About Buying a Home

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.

Last updated: July 13, 2021

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West Virginia

  • Average 3-bedroom home value: $125,540
  • 20% down payment: $25,108
  • Average effective state property tax: 0.55%
  • Monthly mortgage payment: $479

Find Out: 50 Cities With the Most Overpriced Homes

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Mississippi

  • Average 3-bedroom home value: $146,746
  • 20% down payment: $29,349
  • Average effective state property tax: 0.65%
  • Monthly mortgage payment: $572

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Oklahoma

  • Average 3-bedroom home value: $148,873
  • 20% down payment: $29,775
  • Average effective state property tax: 0.88%
  • Monthly mortgage payment: $609

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Alabama

  • Average 3-bedroom home value: $166,814
  • 20% down payment: $33,363
  • Average effective state property tax: 0.40%
  • Monthly mortgage payment: $615

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Arkansas

  • Average 3-bedroom home value: $169,551
  • 20% down payment: $33,910
  • Average effective state property tax: 0.64%
  • Monthly mortgage payment: $659
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Louisiana

  • Average 3-bedroom home value: $175,923
  • 20% down payment: $35,185
  • Average effective state property tax: 0.52%
  • Monthly mortgage payment: $667
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Kentucky

  • Average 3-bedroom home value: $165,738
  • 20% down payment: $33,148
  • Average effective state property tax: 0.82%
  • Monthly mortgage payment: $669
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Indiana

  • Average 3-bedroom home value: $177,884
  • 20% down payment: $35,577
  • Average effective state property tax: 0.87%
  • Monthly mortgage payment: $726
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Kansas

  • Average 3-bedroom home value: $169,190
  • 20% down payment: $33,838
  • Average effective state property tax: 1.33%
  • Monthly mortgage payment: $755
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Iowa

  • Average 3-bedroom home value: $168,625
  • 20% down payment: $33,725
  • Average effective state property tax: 1.50%
  • Monthly mortgage payment: $777
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Ohio

  • Average 3-bedroom home value: $168,937
  • 20% down payment: $33,787
  • Average effective state property tax: 1.62%
  • Monthly mortgage payment: $795

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South Carolina

  • Average 3-bedroom home value: $208,374
  • 20% down payment: $41,675
  • Average effective state property tax: 0.56%
  • Monthly mortgage payment: $796
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Missouri

  • Average 3-bedroom home value: $191,056
  • 20% down payment: $38,211
  • Average effective state property tax: 1.01%
  • Monthly mortgage payment: $802
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Georgia

  • Average 3-bedroom home value: $209,899
  • 20% down payment: $41,980
  • Average effective state property tax: 0.92%
  • Monthly mortgage payment: $865
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Tennessee

  • Average 3-bedroom home value: $221,364
  • 20% down payment: $44,273
  • Average effective state property tax: 0.73%
  • Monthly mortgage payment: $877
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Michigan

  • Average 3-bedroom home value: $199,226
  • 20% down payment: $39,845
  • Average effective state property tax: 1.44%
  • Monthly mortgage payment: $908
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North Carolina

  • Average 3-bedroom home value: $223,591
  • 20% down payment: $44,718
  • Average effective state property tax: 0.85%
  • Monthly mortgage payment: $909
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North Dakota

  • Average 3-bedroom home value: $220,227
  • 20% down payment: $44,045
  • Average effective state property tax: 0.95%
  • Monthly mortgage payment: $913
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New Mexico

  • Average 3-bedroom home value: $240,283
  • 20% down payment: $48,057
  • Average effective state property tax: 0.68%
  • Monthly mortgage payment: $942
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Pennsylvania

  • Average 3-bedroom home value: $212,270
  • 20% down payment: $42,454
  • Average effective state property tax: 1.51%
  • Monthly mortgage payment: $979
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South Dakota

  • Average 3-bedroom home value: $225,041
  • 20% down payment: $45,008
  • Average effective state property tax: 1.22%
  • Monthly mortgage payment: $984

Check Out: 45 Great Cities With Shockingly Cheap Real Estate

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Nebraska

  • Average 3-bedroom home value: $209,383
  • 20% down payment: $41,877
  • Average effective state property tax: 1.65%
  • Monthly mortgage payment: $991
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Wyoming

  • Average 3-bedroom home value: $262,113
  • 20% down payment: $52,423
  • Average effective state property tax: 0.55%
  • Monthly mortgage payment: $1,000
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New York

  • Average 3-bedroom home value: $226,773
  • 20% down payment: $45,355
  • Average effective state property tax: 1.40%
  • Monthly mortgage payment: $1,026
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Delaware

  • Average 3-bedroom home value: $267,790
  • 20% down payment: $53,558
  • Average effective state property tax: 0.58%
  • Monthly mortgage payment: $1,028
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Texas

  • Average 3-bedroom home value: $220,161
  • 20% down payment: $44,032
  • Average effective state property tax: 1.69%
  • Monthly mortgage payment: $1,049
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Wisconsin

  • Average 3-bedroom home value: $224,048
  • 20% down payment: $44,810
  • Average effective state property tax: 1.73%
  • Monthly mortgage payment: $1,075
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Virginia

  • Average 3-bedroom home value: $268,612
  • 20% down payment: $53,722
  • Average effective state property tax: 0.86%
  • Monthly mortgage payment: $1,094
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Illinois

  • Average 3-bedroom home value: $219,271
  • 20% down payment: $43,854
  • Average effective state property tax: 2.05%
  • Monthly mortgage payment: $1,110
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Florida

  • Average 3-bedroom home value: $282,779
  • 20% down payment: $56,556
  • Average effective state property tax: 0.94%
  • Monthly mortgage payment: $1,170

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Minnesota

  • Average 3-bedroom home value: $287,545
  • 20% down payment: $57,509
  • Average effective state property tax: 1.11%
  • Monthly mortgage payment: $1,231
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Arizona

  • Average 3-bedroom home value: $317,917
  • 20% down payment: $63,583
  • Average effective state property tax: 0.67% 
  • Monthly mortgage payment: $1,244
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Nevada

  • Average 3-bedroom home value: $334,516
  • 20% down payment: $66,903
  • Average effective state property tax: 0.66%
  • Monthly mortgage payment: $1,306
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Alaska

  • Average 3-bedroom home value: $315,024
  • 20% down payment: $63,005
  • Average effective state property tax: 1.02%
  • Monthly mortgage payment: $1,325
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Maryland

  • Average 3-bedroom home value: $314,616
  • 20% down payment: $62,923
  • Average effective state property tax: 1.04%
  • Monthly mortgage payment: $1,328
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Maine

  • Average 3-bedroom home value: $300,866
  • 20% down payment: $60,173
  • Average effective state property tax: 1.27%
  • Monthly mortgage payment: $1,328
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Montana

  • Average 3-bedroom home value: $352,539
  • 20% down payment: $70,508
  • Average effective state property tax: 0.76%
  • Monthly mortgage payment: $1,406
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Vermont

  • Average 3-bedroom home value: $293,436
  • 20% down payment: $58,687
  • Average effective state property tax: 1.80%
  • Monthly mortgage payment: $1,425
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Connecticut

  • Average 3-bedroom home value: $298,666
  • 20% down payment: $59,733
  • Average effective state property tax: 1.70%
  • Monthly mortgage payment: $1,425
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Idaho

  • Average 3-bedroom home value: $374,655
  • 20% down payment: $74,931
  • Average effective state property tax: 0.75%
  • Monthly mortgage payment: $1,491
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Utah

  • Average 3-bedroom home value: $397,681
  • 20% down payment: $79,536
  • Average effective state property tax: 0.62%
  • Monthly mortgage payment: $1,540

Read More: In Less Than a Decade, You Won’t Be Able To Afford a Home in These Cities

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Rhode Island

  • Average 3-bedroom home value: $357,928
  • 20% down payment: $71,586
  • Average effective state property tax: 1.53%
  • Monthly mortgage payment: $1,657
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Oregon

  • Average 3-bedroom home value: $407,724
  • 20% down payment: $81,545
  • Average effective state property tax: 0.98%
  • Monthly mortgage payment: $1,701
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Colorado

  • Average 3-bedroom home value: $448,399
  • 20% down payment: $89,680
  • Average effective state property tax: 0.56%
  • Monthly mortgage payment: $1,714
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New Hampshire

  • Average 3-bedroom home value: $364,106
  • 20% down payment: $72,821
  • Average effective state property tax: 2.03%
  • Monthly mortgage payment: $1,838
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New Jersey

  • Average 3-bedroom home value: $362,709
  • 20% down payment: $72,542
  • Average effective state property tax: 2.21%
  • Monthly mortgage payment: $1,885
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Washington

  • Average 3-bedroom home value: $476,105
  • 20% down payment: $95,221
  • Average effective state property tax: 0.92%
  • Monthly mortgage payment: $1,963
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Massachusetts

  • Average 3-bedroom home value: $473,526
  • 20% down payment: $94,705
  • Average effective state property tax: 1.15%
  • Monthly mortgage payment: $2,043
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California

  • Average 3-bedroom home value: $614,576
  • 20% down payment: $122,915
  • Average effective state property tax: 0.74%
  • Monthly mortgage payment: $2,441

 

 

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Hawaii

  • Average 3-bedroom home value: $740,227
  • 20% down payment: $148,045
  • Average effective state property tax: 0.30%
  • Monthly mortgage payment: $2,669

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Jami Farkas 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 April 2021 index; (2) monthly mortgage payment, using Zillow’s mortgage calculator and based on the April 2021 average home value for a three-bedroom home, 20% down payment, the average state effective property tax sourced from the Tax Foundation and a 2.96% 30-year fixed mortgage, which is the current national average mortgage rate as of May 6, 2021, 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 June 15, 2021.