What Homes Will Be Worth in Your State by the End of 2023

The housing market has gone through some significant swings since the start of the pandemic in 2020. Despite a temporary lull in early 2020, the market rebounded hotter than ever in 2021. As we’ve rolled into 2022, the housing rush is simmering down just a little but not much. The median home price in January 2022 was $350,300, as compared to $356,700 from August 2021, according to the National Association of Realtors. And now, according to Zillow, the median home price is $331,533, with a predicted median of $390,546 by the end of 2023.

To figure out the value of homes in 2023 across the country, GOBankingRates analyzed median home values from February 2022 using Zillow’s forecast tool to predict the increase or decrease in home values by state to assess where home values will be in February of 2023. The study ranked each state according to its median home value, beginning with the lowest.

It is important to note that GOBankingRates used the median home value instead of the median home price by state, because value accounts for more factors, such as comparable home sales and inspections. Median home value is an estimate of what the property is actually worth, while the median list price is based on demand and listing agent.

Find out what homes will be worth in your state by the end of 2023.

• Median home value in 2022: $129,518
• Projected one-year growth rate: 10.39%
• Forecasted median home value in 2023: $142,975
• Home value change in year 2022-2023: $13,457

• Median home value in 2022: $157,559
• Projected one-year growth rate: 10.62%
• Forecasted median home value in 2023: $174,292
• Home value change in year 2022-2023: $16,733

• Median home value in 2022: $169,508
• Projected one-year growth rate: 13.36%
• Forecasted median home value in 2023: $192,154
• Home value change in year 2022-2023: $22,646

• Median home value in 2022: $171,299
• Projected one-year growth rate: 13.01%
• Forecasted median home value in 2023: $193,585
• Home value change in year 2022-2023: $22,286

• Median home value in 2022: $184,676
• Projected one-year growth rate: 10.38%
• Forecasted median home value in 2023: $203,845
• Home value change in year 2022-2023: $19,169

• Median home value in 2022: $188,752
• Projected one-year growth rate: 12.94%
• Forecasted median home value in 2023: $213,177
• Home value change in year 2022-2023: $24,425

• Median home value in 2022: $193,601
• Projected one-year growth rate: 14.18%
• Forecasted median home value in 2023: $221,054
• Home value change in year 2022-2023: $27,453

• Median home value in 2022: $198,134
• Projected one-year growth rate: 12.79%
• Forecasted median home value in 2023: $223,475
• Home value change in year 2022-2023: $25,341

• Median home value in 2022: $207,009
• Projected one-year growth rate: 8.07%
• Forecasted median home value in 2023: $223,715
• Home value change in year 2022-2023: $16,706

• Median home value in 2022: $201,285
• Projected one-year growth rate: 14.67%
• Forecasted median home value in 2023: $230,814
• Home value change in year 2022-2023: $29,529

• Median home value in 2022: $210,442
• Projected one-year growth rate: 14.52%
• Forecasted median home value in 2023: $240,998
• Home value change in year 2022-2023: $30,556

• Median home value in 2022: $218,486
• Projected one-year growth rate: 12.94%
• Forecasted median home value in 2023: $246,758
• Home value change in year 2022-2023: $28,272

• Median home value in 2022: $223,744
• Projected one-year growth rate: 14.59%
• Forecasted median home value in 2023: $256,388
• Home value change in year 2022-2023: $32,644

• Median home value in 2022: $231,115
• Projected one-year growth rate: 13.22%
• Forecasted median home value in 2023: $261,668
• Home value change in year 2022-2023: $30,553

• Median home value in 2022: $255,179
• Projected one-year growth rate: 10.82%
• Forecasted median home value in 2023: $282,789
• Home value change in year 2022-2023: $27,610

• Median home value in 2022: $252,959
• Projected one-year growth rate: 13.19%
• Forecasted median home value in 2023: $286,324
• Home value change in year 2022-2023: $33,365

• Median home value in 2022: $255,547
• Projected one-year growth rate: 12.68%
• Forecasted median home value in 2023: $287,950
• Home value change in year 2022-2023: $32,403

• Median home value in 2022: $271,804
• Projected one-year growth rate: 7.20%
• Forecasted median home value in 2023: $291,374
• Home value change in year 2022-2023: $19,570

• Median home value in 2022: $278,513
• Projected one-year growth rate: 13.26%
• Forecasted median home value in 2023: $315,444
• Home value change in year 2022-2023: $36,931

• Median home value in 2022: $271,002
• Projected one-year growth rate: 16.95%
• Forecasted median home value in 2023: $316,937
• Home value change in year 2022-2023: $45,935

• Median home value in 2022: $279,031
• Projected one-year growth rate: 14.59%
• Forecasted median home value in 2023: $319,742
• Home value change in year 2022-2023: $40,711

• Median home value in 2022: $276,250
• Projected one-year growth rate: 18.19%
• Forecasted median home value in 2023: $326,500
• Home value change in year 2022-2023: $50,250

• Median home value in 2022: $290,527
• Projected one-year growth rate: 15.29%
• Forecasted median home value in 2023: $334,949
• Home value change in year 2022-2023: $44,422

• Median home value in 2022: $297,030
• Projected one-year growth rate: 17.14%
• Forecasted median home value in 2023: $347,941
• Home value change in year 2022-2023: $50,911

• Median home value in 2022: $296,056
• Projected one-year growth rate: 17.79%
• Forecasted median home value in 2023: $348,724
• Home value change in year 2022-2023: $52,668

• Median home value in 2022: $309,063
• Projected one-year growth rate: 13.45%
• Forecasted median home value in 2023: $350,632
• Home value change in year 2022-2023: $41,569

• Median home value in 2022: $328,365
• Projected one-year growth rate: 7.53%
• Forecasted median home value in 2023: $353,091
• Home value change in year 2022-2023: $24,726

• Median home value in 2022: $326,253
• Projected one-year growth rate: 12.17%
• Forecasted median home value in 2023: $365,958
• Home value change in year 2022-2023: $39,705

• Median home value in 2022: $333,809
• Projected one-year growth rate: 14.61%
• Forecasted median home value in 2023: $382,578
• Home value change in year 2022-2023: $48,769

• Median home value in 2022: $342,217
• Projected one-year growth rate: 12.74%
• Forecasted median home value in 2023: $385,815
• Home value change in year 2022-2023: $43,598

• Median home value in 2022: $352,611
• Projected one-year growth rate: 12.97%
• Forecasted median home value in 2023: $398,345
• Home value change in year 2022-2023: $45,734

• Median home value in 2022: $339,212
• Projected one-year growth rate: 18.29%
• Forecasted median home value in 2023: $401,254
• Home value change in year 2022-2023: $62,042

• Median home value in 2022: $362,633
• Projected one-year growth rate: 12.47%
• Forecasted median home value in 2023: $407,853
• Home value change in year 2022-2023: $45,220

• Median home value in 2022: $360,948
• Projected one-year growth rate: 14.48%
• Forecasted median home value in 2023: $413,213
• Home value change in year 2022-2023: $52,265

• Median home value in 2022: $399,585
• Projected one-year growth rate: 12.36%
• Forecasted median home value in 2023: $448,974
• Home value change in year 2022-2023: $49,389

• Median home value in 2022: $373,735
• Projected one-year growth rate: 22.04%
• Forecasted median home value in 2023: $456,106
• Home value change in year 2022-2023: $82,371

• Median home value in 2022: $418,342
• Projected one-year growth rate: 16.82%
• Forecasted median home value in 2023: $488,707
• Home value change in year 2022-2023: $70,365

• Median home value in 2022: $428,187
• Projected one-year growth rate: 16.31%
• Forecasted median home value in 2023: $498,024
• Home value change in year 2022-2023: $69,837

• Median home value in 2022: $426,273
• Projected one-year growth rate: 17.76%
• Forecasted median home value in 2023: $501,979
• Home value change in year 2022-2023: $75,706

• Median home value in 2022: $423,280
• Projected one-year growth rate: 20.24%
• Forecasted median home value in 2023: $508,952
• Home value change in year 2022-2023: $85,672

• Median home value in 2022: $452,242
• Projected one-year growth rate: 14.04%
• Forecasted median home value in 2023: $515,737
• Home value change in year 2022-2023: $63,495

• Median home value in 2022: $450,382
• Projected one-year growth rate: 19.05%
• Forecasted median home value in 2023: $536,180
• Home value change in year 2022-2023: $85,798

• Median home value in 2022: $468,555
• Projected one-year growth rate: 18.86%
• Forecasted median home value in 2023: $556,924
• Home value change in year 2022-2023: $88,369

• Median home value in 2022: $507,388
• Projected one-year growth rate: 16.70%
• Forecasted median home value in 2023: $592,122
• Home value change in year 2022-2023: $84,734

• Median home value in 2022: $573,729
• Projected one-year growth rate: 14.89%
• Forecasted median home value in 2023: $659,157
• Home value change in year 2022-2023: $85,428

• Median home value in 2022: $555,014
• Projected one-year growth rate: 20.81%
• Forecasted median home value in 2023: $670,512
• Home value change in year 2022-2023: $115,498

• Median home value in 2022: $571,729
• Projected one-year growth rate: 17.57%
• Forecasted median home value in 2023: $672,182
• Home value change in year 2022-2023: $100,453

• Median home value in 2022: $605,854
• Projected one-year growth rate: 18%
• Forecasted median home value in 2023: $714,908
• Home value change in year 2022-2023: $109,054

• Median home value in 2022: $775,266
• Projected one-year growth rate: 16.57%
• Forecasted median home value in 2023: $903,728
• Home value change in year 2022-2023: $128,462

• Median home value in 2022: $972,147
• Projected one-year growth rate: 16.65%
• Forecasted median home value in 2023: $1,134,009
• Home value change in year 2022-2023: $161,862

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Methodology: GOBankingRates used (1) Zillow’s year-over-year home value forecast data to adjust the (2) typical home value in each state in February 2022 according to Zillow’s Home Value Index in order to calculate (3) the projected home value in every state at the end of February 2023. Then, GOBankingRates found the (4) projected change in home value by subtracting the 2022 February typical home value from the 2023 projected typical home value. States were then ranked by factor (3) with no. 1 being the state with the lowest projected 2023 home value. All data was collected on and up to date as of March 29, 2022.

*Home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is calculated from public and user-submitted data, taking into account special features, location and market conditions. To find home values, proprietary automated valuation models apply advanced algorithms to analyze the data to identify relationships within a specific geographic area, between this home-related data and actual sales prices. Home characteristics, such as square footage, location or the number of bathrooms, are given different weights according to their influence on home sale prices in each specific geography over a specific period of time, resulting in a set of valuation rules, or models, that are applied to generate each home’s value.