Here’s How Much You Should Save for a House in Every State

The cost of homes in the U.S. has skyrocketed over the past few decades. Now, most folks earning an average salary can’t afford to buy a home in just about anywhere in the nation, according to an ATTOM report. Of course, some states are more expensive than others and, on average, you’ll save a lot more on a home in, say, South Dakota than you will in California.

But exactly how much should you save for a house in every state? A new study by GOBankingRates answers the question — scroll on to find out (states are ranked in order from least expensive to most expensive).

• Average home value: $958,592.06
• 20% down payment cost: $191,718.41

• Average home value: $763,306.79
• 20% down payment cost: $152,661.36

• Average home value: $606,050.70
• 20% down payment cost: $121,210.14

• Average home value: $576,171.87
• 20% down payment cost: $115,234.37

• Average home value: $538,236.28
• 20% down payment cost: $107,647.26

• Average home value: $511,384.15
• 20% down payment cost: $102,276.83

• Average home value: $510,342.10
• 20% down payment cost: $102,068.42

• Average home value: $487,820.47
• 20% down payment cost: $97,564.09

• Average home value: $464,611.35
• 20% down payment cost: $92,922.27

• Average home value: $444,182.17
• 20% down payment cost: $88,836.43

• Average home value: $443,792.70
• 20% down payment cost: $88,758.54

• Average home value: $433,564.15
• 20% down payment cost: $86,712.83

• Average home value: $433,033.67
• 20% down payment cost: $86,606.73

• Average home value: $429,098.90
• 20% down payment cost: $85,819.78

• Average home value: $425,900.69
• 20% down payment cost: $85,180.14

• Average home value: $412,161.98
• 20% down payment cost: $82,432.40

• Average home value: $407,004.04
• 20% down payment cost: $81,400.81

• Average home value: $402,396.28
• 20% down payment cost: $80,479.26

• Average home value: $376,969.05
• 20% down payment cost: $75,393.81

• Average home value: $376,460.52
• 20% down payment cost: $75,292.10

• Average home value: $376,236.04
• 20% down payment cost: $75,247.21

• Average home value: $369,279.10
• 20% down payment cost: $73,855.82

• Average home value: $359,589.98
• 20% down payment cost: $71,918.00

• Average home value: $330,627.40
• 20% down payment cost: $66,125.48

• Average home value: $321,869.87
• 20% down payment cost: $64,373.97

• Average home value: $318,522.75
• 20% down payment cost: $63,704.55

• Average home value: $317,395.96
• 20% down payment cost: $63,479.19

• Average home value: $305,177.36
• 20% down payment cost: $61,035.47

• Average home value: $295,091.02
• 20% down payment cost: $59,018.20

• Average home value: $289,803.36
• 20% down payment cost: $57,960.67

• Average home value: $286,543.66
• 20% down payment cost: $57,308.73

• Average home value: $284,025.41
• 20% down payment cost: $56,805.08

• Average home value: $282,228.14 
• 20% down payment cost: $56,445.63

• Average home value: $254,502.77
• 20% down payment cost: $50,900.55

• Average home value: $252,146.91
• 20% down payment cost: $50,429.38

• Average home value: $249,130.63
• 20% down payment cost: $49,826.13

• Average home value: $246,304.63
• 20% down payment cost: $49,260.93

• Average home value: $235,384.58
• 20% down payment cost: $47,076.92

• Average home value: $228,049.01
• 20% down payment cost: $45,609.80

• Average home value: $226,103.99
• 20% down payment cost: $45,220.80

• Average home value: $214,957.86
• 20% down payment cost: $42,991.57

• Average home value: $214,359.17
• 20% down payment cost: $42,871.83

• Average home value: $213,525.32
• 20% down payment cost: $42,705.06

• Average home value: $209,321.81
• 20% down payment cost: $41,864.36

• Average home value: $196,529.91
• 20% down payment cost: $39,305.98

• Average home value: $196,010.39
• 20% down payment cost: $39,202.08

• Average home value: $195,354.85
• 20% down payment cost: $39,070.97

• Average home value: $194,988.73
• 20% down payment cost: $38,997.75

• Average home value: $172,378.64
• 20% down payment cost: $34,475.73

• Average home value: $154,137.92
• 20% down payment cost: $30,827.58

Methodology: To find out how much you should save for a house in every state, GOBankingRates analyzed the average home value for single-family homes in every state as sourced from the Zillow Home Value Index and using the 30-year fixed rate mortgage average in the U.S., as sourced from the Federal Reserve Economic Research, the average mortgage payments can be calculated. GOBankingRates used 10%, 15% and 20% down payments to represent a variety of homebuyers in different life situations. All data was collected and is up-to-date as of January 23rd, 2024.