GOBankingRates

What Homes Will Be Worth in Your State by the End of 2021

benedek / Getty Images/iStockphoto

benedek / Getty Images/iStockphoto

With so much uncertainty surrounding the housing market, many Americans may be afraid that buying or selling a house is too risky of a move to make. A recession isn’t great news for buyers, especially with the average family unable to afford a home in many parts of the country as it is. Prospective homebuyers are also concerned about their ability to make mortgage payments. But with all of these economic anxieties, how will you know when it’s a good time to make a move? If you’re debating on whether to buy or sell a home, the best financial choice will depend on the home value forecast in your state.

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According to the latest home value forecast data from Zillow, the median home value in the U.S. is $262,604; but Zillow is predicting an increase of nearly 8% within the next year.

To figure out the value of homes in 2021 across the country, GOBankingRates analyzed median home values from October 2020 using Zillow’s forecast tool to predict the increase or decrease in home values by state. The study ranked each state according to its median home value, beginning with the lowest.

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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 2021.

Last updated: Oct. 5, 2021

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50. West Virginia

  • Median home value in 2020: $109,182
  • Projected one-year growth rate: 6.7%
  • Forecasted median home value in 2021: $116,497

Read: Homes Won’t Be Affordable in These Cities Within 10 Years

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49. Mississippi

  • Median home value in 2020: $135,563
  • Projected one-year growth rate: 7.0%
  • Forecasted median home value in 2021: $145,052

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48. Oklahoma

  • Median home value in 2020: $140,270
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $150,931

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47. Arkansas

  • Median home value in 2020: $141,806
  • Projected one-year growth rate: 7.2%
  • Forecasted median home value in 2021: $152,016

Find Out: The Best Place To Buy a Home in Every State

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46. Kentucky

  • Median home value in 2020: $155,599
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $167,425

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45. Iowa

  • Median home value in 2020: $158,002
  • Projected one-year growth rate: 6.7%
  • Forecasted median home value in 2021: $168,588
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44. Alabama

  • Median home value in 2020: $156,544
  • Projected one-year growth rate: 8.1%
  • Forecasted median home value in 2021: $169,224
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43. Ohio

  • Median home value in 2020: $162,933
  • Projected one-year growth rate: 8.0%
  • Forecasted median home value in 2021: $175,968
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42. Kansas

  • Median home value in 2020: $167,248
  • Projected one-year growth rate: 7.5%
  • Forecasted median home value in 2021: $179,792
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41. Indiana

  • Median home value in 2020: $167,897
  • Projected one-year growth rate: 7.7%
  • Forecasted median home value in 2021: $180,825
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40. Missouri

  • Median home value in 2020: $173,541
  • Projected one-year growth rate: 7.9%
  • Forecasted median home value in 2021: $187,251
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39. Louisiana

  • Median home value in 2020: $177,990
  • Projected one-year growth rate: 7.2%
  • Forecasted median home value in 2021: $190,805
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38. Michigan

  • Median home value in 2020: $186,144
  • Projected one-year growth rate: 8.2%
  • Forecasted median home value in 2021: $201,408
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37. Nebraska

  • Median home value in 2020: $189,034
  • Projected one-year growth rate: 7.4%
  • Forecasted median home value in 2021: $203,023
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36. Tennessee

  • Median home value in 2020: $200,762
  • Projected one-year growth rate: 7.9%
  • Forecasted median home value in 2021: $216,622
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35. Wisconsin

  • Median home value in 2020: $202,197
  • Projected one-year growth rate: 8.0%
  • Forecasted median home value in 2021: $218,373

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34. South Carolina

  • Median home value in 2020: $204,820
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $220,386
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33. Pennsylvania

  • Median home value in 2020: $211,224
  • Projected one-year growth rate: 7.9%
  • Forecasted median home value in 2021: $227,911
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32. Georgia

  • Median home value in 2020: $216,314
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $232,754
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31. Illinois

  • Median home value in 2020: $217,672
  • Projected one-year growth rate: 7.5%
  • Forecasted median home value in 2021: $233,997
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30. North Carolina

  • Median home value in 2020: $219,690
  • Projected one-year growth rate: 7.8%
  • Forecasted median home value in 2021: $236,826
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29. New Mexico

  • Median home value in 2020: $219,406
  • Projected one-year growth rate: 8.0%
  • Forecasted median home value in 2021: $236,958
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28. South Dakota

  • Median home value in 2020: $221,300
  • Projected one-year growth rate: 7.1%
  • Forecasted median home value in 2021: $237,012
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27. Texas

  • Median home value in 2020: $224,065
  • Projected one-year growth rate: 7.4%
  • Forecasted median home value in 2021: $240,646
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26. North Dakota

  • Median home value in 2020: $237,673
  • Projected one-year growth rate: 6.2%
  • Forecasted median home value in 2021: $252,409
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25. Wyoming

  • Median home value in 2020: $257,261
  • Projected one-year growth rate: 6.7%
  • Forecasted median home value in 2021: $274,497
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24. Maine

  • Median home value in 2020: $259,992
  • Projected one-year growth rate: 8.5%
  • Forecasted median home value in 2021: $282,091
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23. Florida

  • Median home value in 2020: $262,291
  • Projected one-year growth rate: 7.8%
  • Forecasted median home value in 2021: $282,750
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22. Vermont

  • Median home value in 2020: $268,730
  • Projected one-year growth rate: 6.4%
  • Forecasted median home value in 2021: $285,929
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21. Minnesota

  • Median home value in 2020: $274,571
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $295,438
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20. Delaware

  • Median home value in 2020: $274,067
  • Projected one-year growth rate: 7.8%
  • Forecasted median home value in 2021: $295,444
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19. Connecticut

  • Median home value in 2020: $276,319
  • Projected one-year growth rate: 8.4%
  • Forecasted median home value in 2021: $299,530
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18. Alaska

  • Median home value in 2020: $287,613
  • Projected one-year growth rate: 5.2%
  • Forecasted median home value in 2021: $302,569
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17. Virginia

  • Median home value in 2020: $299,164
  • Projected one-year growth rate: 7.4%
  • Forecasted median home value in 2021: $321,302
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16. Arizona

  • Median home value in 2020: $296,783
  • Projected one-year growth rate: 9.2%
  • Forecasted median home value in 2021: $324,087
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15. New Hampshire

  • Median home value in 2020: $315,635
  • Projected one-year growth rate: 8.5%
  • Forecasted median home value in 2021: $342,464
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14. Montana

  • Median home value in 2020: $317,725
  • Projected one-year growth rate: 7.8%
  • Forecasted median home value in 2021: $342,508
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13. Nevada

  • Median home value in 2020: $320,203
  • Projected one-year growth rate: 8.5%
  • Forecasted median home value in 2021: $347,420
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12. Idaho

  • Median home value in 2020: $323,274
  • Projected one-year growth rate: 9.0%
  • Forecasted median home value in 2021: $352,369
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11. Rhode Island

  • Median home value in 2020: $325,805
  • Projected one-year growth rate: 8.5%
  • Forecasted median home value in 2021: $353,498
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10. Maryland

  • Median home value in 2020: $330,332
  • Projected one-year growth rate: 7.8%
  • Forecasted median home value in 2021: $356,098
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9. New York

  • Median home value in 2020: $349,939
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $376,534
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8. New Jersey

  • Median home value in 2020: $364,230
  • Projected one-year growth rate: 8.3%
  • Forecasted median home value in 2021: $394,461
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7. Utah

  • Median home value in 2020: $383,216
  • Projected one-year growth rate: 8.5%
  • Forecasted median home value in 2021: $415,789
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6. Oregon

  • Median home value in 2020: $385,520
  • Projected one-year growth rate: 8.3%
  • Forecasted median home value in 2021: $417,518
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5. Colorado

  • Median home value in 2020: $427,659
  • Projected one-year growth rate: 7.6%
  • Forecasted median home value in 2021: $460,161
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4. Washington

  • Median home value in 2020: $451,082
  • Projected one-year growth rate: 8.9%
  • Forecasted median home value in 2021: $491,228
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3. Massachusetts

  • Median home value in 2020: $462,110
  • Projected one-year growth rate: 8.3%
  • Forecasted median home value in 2021: $500,465
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2. California

  • Median home value in 2020: $599,159
  • Projected one-year growth rate: 8.4%
  • Forecasted median home value in 2021: $649,488
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1. Hawaii

  • Median home value in 2020: $655,433
  • Projected one-year growth rate: 6.8%
  • Forecasted median home value in 2021: $700,002

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          Methodology: GOBankingRates used (1) Zillow’s  year-over-year home value forecast to adjust the (2) typical home value in each state in October 2020 according to Zillow’s Home Value Index in order to calculate (3) the projected home value in every state at the end of October 2021. Then, GOBankingRates found the (4) projected change in home value by subtracting the 2020 October typical home value from the 2021 projected home value. All data was collected on and up to date as of Dec. 9, 2020.

          *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.