How Much House Does $200K Buy You in Every State?

Share
How Much House Does $200K Buy You in Every State?

Housing prices rose so high in 2021 — just shy of 20% — that Zillow now quotes the median home value in the U.S. as $316,368. According to the Federal Reserve Bank of St. Louis, prices shot up so high in the second half of the year that the median sale price in the third quarter of 2021 breached $400,000 for the first time when it hit $404,700.
Read More: 50 Cities With the Most Overpriced Homes
Find: 50 Cities With the Most Underpriced Homes
In the post-pandemic world, $200,000 clearly doesn’t go as far as it used to. In fact, the last time the median sale price was under $200,000 was the fourth quarter of 2003, when it hit $198,000. If $200,000 is your budget’s ceiling, then you’re going to have to put a lot of thought into where you’re going to live.
In 2015, the average American home topped out at an indulgent 2,687 square feet, according to Rocket Mortgage, before settling down to 2,301. Even so, $200,000 won’t get you anywhere near that in any state in the country — you’ll be well under 2,000 square feet even in the cheapest states. In the most expensive states, $200,000 will buy you something between a tiny house and the smallest studio apartments.
Discover: These Are the 50 Best Cities for Renters
Using data from the Federal Reserve Bank of St. Louis and the Missouri Economic Research and Information Center’s housing cost of living index (CoL), GoBankingRates ranked all 50 states by how much house — or how little — you can buy for $200,000.
50. Hawaii
- Housing CoL index: 312.6
- Price per square foot: $580.26
- No. of square feet for $200,000: 345
Did You Know?: Rising Sea Levels Are Hurting Home Values in These 40 Cities
49. New York
- Housing CoL index: 227.5
- Price per square foot: $422.30
- No. of square feet for $200,000: 474
48. California
- Housing CoL index: 221
- Price per square foot: $410.23
- No. of square feet for $200,000: 488
Also Find: The Best Place to Buy a Home in Every State
47. Massachusetts
- Housing CoL index: 177.8
- Price per square foot: $330.04
- No. of square feet for $200,000: 606
46. Oregon
- Housing CoL index: 169.3
- Price per square foot: $314.26
- No. of square feet for $200,000: 636
45. Maryland
- Housing CoL index: 163.6
- Price per square foot: $303.68
- No. of square feet for $200,000: 659
More: This Is the Salary You Need To Afford the Average Home in Your State
44. New Jersey
- Housing CoL index: 148
- Price per square foot: $274.73
- No. of square feet for $200,000: 728
43. Vermont
- Housing CoL index: 135.5
- Price per square foot: $251.52
- No. of square feet for $200,000: 795
42. Connecticut
- Housing CoL index: 131.2
- Price per square foot: $243.54
- No. of square feet for $200,000: 821
Also See: 50 Housing Markets That Are Turning Ugly
41. Maine
- Housing CoL index: 130.3
- Price per square foot: $241.87
- No. of square feet for $200,000: 827
40. Alaska
- Housing CoL index: 126
- Price per square foot: $233.89
- No. of square feet for $200,000: 855
39. Washington
- Housing CoL index: 121.6
- Price per square foot: $225.72
- No. of square feet for $200,000: 886
38. Rhode Island
- Housing CoL index: 121.5
- Price per square foot: $225.53
- No. of square feet for $200,000: 887
37. Arizona
- Housing CoL index: 117.8
- Price per square foot: $218.67
- No. of square feet for $200,000: 915
36. Colorado
- Housing CoL index: 117.3
- Price per square foot: $217.74
- No. of square feet for $200,000: 919
35. Nevada
- Housing CoL index: 114.3
- Price per square foot: $212.17
- No. of square feet for $200,000: 943
34. New Hampshire
- Housing CoL index: 106.8
- Price per square foot: $198.25
- No. of square feet for $200,000: 1,009
33. Montana
- Housing CoL index: 105.2
- Price per square foot: $195.28
- No. of square feet for $200,000: 1,024
More for You: You Might Actually Be Able To Afford a Mansion in These 20 States
32. Florida
- Housing CoL index: 104.1
- Price per square foot: $193.24
- No. of square feet for $200,000: 1,035
31. Delaware
- Housing CoL index: 102.4
- Price per square foot: $190.08
- No. of square feet for $200,000: 1,052
30. South Dakota
- Housing CoL index: 101.6
- Price per square foot: $188.60
- No. of square feet for $200,000: 1,060
29. Virginia
- Housing CoL index: 100.7
- Price per square foot: $186.92
- No. of square feet for $200,000: 1,070
28. Utah
- Housing CoL index: 99.3
- Price per square foot: $184.33
- No. of square feet for $200,000: 1,085
27. Idaho
- Housing CoL index: 97.3
- Price per square foot: $180.67
- No. of square feet for $200,000: 1,107
Also See: Best Places To Live On a $50,000 Salary in Every State
26. Pennsylvania
- Housing CoL index: 95
- Price per square foot: $176.37
- No. of square feet for $200,000: 1,134
25. North Dakota
- Housing CoL index: 94.3
- Price per square foot: $175.04
- No. of square feet for $200,000: 1,143
24. North Carolina
- Housing CoL index: 90.7
- Price per square foot: $168.36
- No. of square feet for $200,000: 1,188
23. Minnesota
- Housing CoL index: 88.5
- Price per square foot: $164.28
- No. of square feet for $200,000: 1,217
22. Wisconsin
- Housing CoL index: 86.7
- Price per square foot: $160.94
- No. of square feet for $200,000: 1,243
Check Out: The Most Expensive Suburbs in Every State
21. Louisiana
- Housing CoL index: 86
- Price per square foot: $159.64
- No. of square feet for $200,000: 1,253
20. Nebraska
- Housing CoL index: 84.7
- Price per square foot: $157.22
- No. of square feet for $200,000: 1,272
19. Texas
- Housing CoL index: 83.9
- Price per square foot: $155.74
- No. of square feet for $200,000: 1,284
18. Missouri
- Housing CoL index: 82.1
- Price per square foot: $152.40
- No. of square feet for $200,000: 1,312
17. South Carolina
- Housing CoL index: 82
- Price per square foot: $152.21
- No. of square feet for $200,000: 1,314
16. New Mexico
- Housing CoL index: 82
- Price per square foot: $152.21
- No. of square feet for $200,000: 1,314
15. Arkansas
- Housing CoL index: 79.8
- Price per square foot: $148.13
- No. of square feet for $200,000: 1,350
14. Michigan
- Housing CoL index: 79.6
- Price per square foot: $147.76
- No. of square feet for $200,000: 1,354
13. Tennessee
- Housing CoL index: 79.4
- Price per square foot: $147.39
- No. of square feet for $200,000: 1,357
12. Wyoming
- Housing CoL index: 78.6
- Price per square foot: $145.90
- No. of square feet for $200,000: 1,371
11. Kentucky
- Housing CoL index: 78.5
- Price per square foot: $145.72
- No. of square feet for $200,000: 1,373
10. West Virginia
- Housing CoL index: 78.4
- Price per square foot: $145.53
- No. of square feet for $200,000: 1,374
9. Indiana
- Housing CoL index: 77.8
- Price per square foot: $144.42
- No. of square feet for $200,000: 1,385
8. Ohio
- Housing CoL index: 77
- Price per square foot: $142.93
- No. of square feet for $200,000: 1,399
Also See: This Is the Salary You Need To Afford the Average Home in Your State
7. Illinois
- Housing CoL index: 75.3
- Price per square foot: $139.78
- No. of square feet for $200,000: 1,431
6. Oklahoma
- Housing CoL index: 75.2
- Price per square foot: $139.59
- No. of square feet for $200,000: 1,433
5. Georgia
- Housing CoL index: 75.1
- Price per square foot: $139.40
- No. of square feet for $200,000: 1,435
4. Iowa
- Housing CoL index: 74.7
- Price per square foot: $138.66
- No. of square feet for $200,000: 1,442
3. Kansas
- Housing CoL index: 72.8
- Price per square foot: $135.14
- No. of square feet for $200,000: 1,480
2. Alabama
- Housing CoL index: 69.5
- Price per square foot: $129.01
- No. of square feet for $200,000: 1,550
1. Mississippi
- Housing CoL index: 66.4
- Price per square foot: $123.26
- No. of square feet for $200,000: 1,623
More From GOBankingRates
- Dollar Tree: 5 High-Quality Items To Buy Now
- Do You Have a Tax Question? Ask a Tax Pro
- The 10 Best Cash Back Credit Cards for 2023
- 6 Reasons Why You Shouldn't Procrastinate on Your Taxes
Methodology: To determine how much house $200,000 will buy you in every state, GOBankingRates first sourced the (1) US median listing price per square feet in the United States as sourced from the Federal Reserve Bank of St. Louis ($185.63). With this figure isolated, GOBankingRates sourced each state’s (2) housing cost of living index as sourced from the Missouri Economic Research and Information Center data for Quarter 3 of 2021. With these two factors, GOBankingRates was able to calculate how much square footage you could afford in each state with $200,000. All data were collected and are up to date as of Dec. 1, 2021.
Share this article: