Almost 90% of renters in the U.S. want to buy a home — however they cannot afford it, in accordance with analysis from CNN.
Home prices rose 3.4% from December 2023 to December 2024 and can improve one other 4.1% by December 2025, per a latest home-price evaluation from CoreLogic.
The median worth for an present house (not new building) was $404,500 as of September 2024, the National Association of Realtors reported, although real estate costs range significantly nationwide.
Associated: You Have One Month Left to Buy a House, According to Barbara Corcoran. Here’s Why.
For those who’re among the many roughly 15% of Americans available in the market for a brand new home, you may be questioning simply how a lot house you’ll be able to afford.
A latest GOBankingRates evaluation breaks it down. The report sourced the Federal Reserve of St. Louis to search out the median itemizing worth per sq. foot of houses within the U.S. and every state’s housing value index, calculating the value per sq. foot.
GOBankingRates’ analysis revealed {that a} $300,000 price range will purchase you as much as 1,500 sq. toes in houses throughout 25 states and that West Virginia is the one state the place $300,000 should buy a greater than 2,000-square-foot house (2,185 sq. toes).
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Learn on for GOBankingRates’ full evaluation of what house patrons with $300,000, $400,000 and $500,000 budgets can afford throughout the nation:
1. West Virginia
- Sq. toes for $300,000: 2,185
- Sq. toes for $400,000: 2,913
- Sq. toes for $500,000: 3,641
- Value per sq. foot: $137
- Housing cost-of-living index: 61.3
2. Kansas
- Sq. toes for $300,000: 1,894
- Sq. toes for $400,000: 2,526
- Sq. toes for $500,000: 3,157
- Value per sq. foot: $158
- Housing cost-of-living index: 70.7
3. Alabama
- Sq. toes for $300,000: 1,876
- Sq. toes for $400,000: 2,501
- Sq. toes for $500,000: 3,126
- Value per sq. foot: $160
- Housing cost-of-living index: 71.4
4. Mississippi
- Sq. toes for $300,000: 1,855
- Sq. toes for $400,000: 2,473
- Sq. toes for $500,000: 3,092
- Value per sq. foot: $162
- Housing cost-of-living index: 72.2
5. Oklahoma
- Sq. toes for $300,000: 1,793
- Sq. toes for $400,000: 2,391
- Sq. toes for $500,000: 2,988
- Value per sq. foot: $167
- Housing cost-of-living index: 74.7
6. Arkansas
- Sq. toes for $300,000: 1,781
- Sq. toes for $400,000: 2,375
- Sq. toes for $500,000: 2,968
- Value per sq. foot: $168
- Housing cost-of-living index: 75.2
7. Iowa
- Sq. toes for $300,000: 1,776
- Sq. toes for $400,000: 2,368
- Sq. toes for $500,000: 2,960
- Value per sq. foot: $169
- Housing cost-of-living index: 75.4
8. Indiana
- Sq. toes for $300,000: 1,733
- Sq. toes for $400,000: 2,310
- Sq. toes for $500,000: 2,888
- Value per sq. foot: $173
- Housing cost-of-living index: 77.3
9. Kentucky
- Sq. toes for $300,000: 1,721
- Sq. toes for $400,000: 2,295
- Sq. toes for $500,000: 2,869
- Value per sq. foot: $174
- Housing cost-of-living index: 77.8
10. Michigan
- Sq. toes for $300,000: 1,706
- Sq. toes for $400,000: 2,275
- Sq. toes for $500,000: 2,843
- Value per sq. foot: $176
- Housing cost-of-living index: 78.5
11. Missouri
- Sq. toes for $300,000: 1,704
- Sq. toes for $400,000: 2,272
- Sq. toes for $500,000: 2,840
- Value per sq. foot: $176
- Housing cost-of-living index: 78.6
12. Georgia
- Sq. toes for $300,000: 1,691
- Sq. toes for $400,000: 2,255
- Sq. toes for $500,000: 2,818
- Value per sq. foot: $177
- Housing cost-of-living index: 79.2
13. Nebraska
- Sq. toes for $300,000: 1,685
- Sq. toes for $400,000: 2,246
- Sq. toes for $500,000: 2,808
- Value per sq. foot: $178
- Housing cost-of-living index: 79.5
14. North Dakota
- Sq. toes for $300,000: 1,678
- Sq. toes for $400,000: 2,238
- Sq. toes for $500,000: 2,797
- Value per sq. foot: $179
- Housing cost-of-living index: 79.8
15. Minnesota
- Sq. toes for $300,000: 1,668
- Sq. toes for $400,000: 2,224
- Sq. toes for $500,000: 2,780
- Value per sq. foot: $180
- Housing cost-of-living index: 80.3
16. Texas
- Sq. toes for $300,000: 1,647
- Sq. toes for $400,000: 2,196
- Sq. toes for $500,000: 2,746
- Value per sq. foot: $182
- Housing cost-of-living index: 81.3
17. Maryland
- Sq. toes for $300,000: 1,629
- Sq. toes for $400,000: 2,172
- Sq. toes for $500,000: 2,716
- Value per sq. foot: $184
- Housing cost-of-living index: 82.2
18. Tennessee
- Sq. toes for $300,000: 1,617
- Sq. toes for $400,000: 2,157
- Sq. toes for $500,000: 2,696
- Value per sq. foot: $185
- Housing cost-of-living index: 82.8
19. Pennsylvania
- Sq. toes for $300,000: 1,604
- Sq. toes for $400,000: 2,139
- Sq. toes for $500,000: 2,673
- Value per sq. foot: $187
- Housing cost-of-living index: 83.5
20. Illinois
- Sq. toes for $300,000: 1,591
- Sq. toes for $400,000: 2,121
- Sq. toes for $500,000: 2,651
- Value per sq. foot: $189
- Housing cost-of-living index: 84.2
21. Louisiana
- Sq. toes for $300,000: 1,587
- Sq. toes for $400,000: 2,116
- Sq. toes for $500,000: 2,645
- Value per sq. foot: $189
- Housing cost-of-living index: 84.4
22. Montana
- Sq. toes for $300,000: 1,583
- Sq. toes for $400,000: 2,111
- Sq. toes for $500,000: 2,638
- Value per sq. foot: $190
- Housing cost-of-living index: 84.6
23. New Mexico
- Sq. toes for $300,000: 1,577
- Sq. toes for $400,000: 2,103
- Sq. toes for $500,000: 2,629
- Value per sq. foot: $190
- Housing cost-of-living index: 84.9
24. South Carolina
- Sq. toes for $300,000: 1,550
- Sq. toes for $400,000: 2,067
- Sq. toes for $500,000: 2,584
- Value per sq. foot: $194
- Housing cost-of-living index: 86.4
25. Ohio
- Sq. toes for $300,000: 1,529
- Sq. toes for $400,000: 2,038
- Sq. toes for $500,000: 2,548
- Value per sq. foot: $196
- Housing cost-of-living index: 87.6
26. South Dakota
- Sq. toes for $300,000: 1,493
- Sq. toes for $400,000: 1,991
- Sq. toes for $500,000: 2,488
- Value per sq. foot: $201
- Housing cost-of-living index: 89.7
27. Wyoming
- Sq. toes for $300,000: 1,486
- Sq. toes for $400,000: 1,982
- Sq. toes for $500,000: 2,477
- Value per sq. foot: $202
- Housing cost-of-living index: 90.1
28. North Carolina
- Sq. toes for $300,000: 1,401
- Sq. toes for $400,000: 1,868
- Sq. toes for $500,000: 2,335
- Value per sq. foot: $214
- Housing cost-of-living index: 95.6
29. Delaware
- Sq. toes for $300,000: 1,388
- Sq. toes for $400,000: 1,850
- Sq. toes for $500,000: 2,313
- Value per sq. foot: $216
- Housing cost-of-living index: 96.5
30. Wisconsin
- Sq. toes for $300,000: 1,360
- Sq. toes for $400,000: 1,813
- Sq. toes for $500,000: 2,266
- Value per sq. foot: $221
- Housing cost-of-living index: 98.5
31. Idaho
- Sq. toes for $300,000: 1,351
- Sq. toes for $400,000: 1,802
- Sq. toes for $500,000: 2,252
- Value per sq. foot: $222
- Housing cost-of-living index: 99.1
32. Virginia
- Sq. toes for $300,000: 1,290
- Sq. toes for $400,000: 1,720
- Sq. toes for $500,000: 2,150
- Value per sq. foot: $233
- Housing cost-of-living index: 103.8
33. Nevada
- Sq. toes for $300,000: 1,254
- Sq. toes for $400,000: 1,672
- Sq. toes for $500,000: 2,090
- Value per sq. foot: $239
- Housing cost-of-living index: 106.8
34. Colorado
- Sq. toes for $300,000: 1,245
- Sq. toes for $400,000: 1,660
- Sq. toes for $500,000: 2,074
- Value per sq. foot: $241
- Housing cost-of-living index: 107.6
35. Florida
- Sq. toes for $300,000: 1,244
- Sq. toes for $400,000: 1,658
- Sq. toes for $500,000: 2,073
- Value per sq. foot: $241
- Housing cost-of-living index: 107.7
36. Rhode Island
- Sq. toes for $300,000: 1,171
- Sq. toes for $400,000: 1,561
- Sq. toes for $500,000: 1,951
- Value per sq. foot: $256
- Housing cost-of-living index: 114.4
37. New Hampshire
- Sq. toes for $300,000: 1,153
- Sq. toes for $400,000: 1,537
- Sq. toes for $500,000: 1,921
- Value per sq. foot: $260
- Housing cost-of-living index: 116.2
38. Connecticut
- Sq. toes for $300,000: 1,143
- Sq. toes for $400,000: 1,524
- Sq. toes for $500,000: 1,905
- Value per sq. foot: $263
- Housing cost-of-living index: 117.2
39. Alaska
- Sq. toes for $300,000: 1,137
- Sq. toes for $400,000: 1,516
- Sq. toes for $500,000: 1,895
- Value per sq. foot: $264
- Housing cost-of-living index: 117.8
40. Washington
- Sq. toes for $300,000: 1,057
- Sq. toes for $400,000: 1,409
- Sq. toes for $500,000: 1,762
- Value per sq. foot: $284
- Housing cost-of-living index: 126.7
41. Utah
- Sq. toes for $300,000: 1,033
- Sq. toes for $400,000: 1,377
- Sq. toes for $500,000: 1,721
- Value per sq. foot: $291
- Housing cost-of-living index: 129.7
42. Oregon
- Sq. toes for $300,000: 1,017
- Sq. toes for $400,000: 1,356
- Sq. toes for $500,000: 1,695
- Value per sq. foot: $295
- Housing cost-of-living index: 131.7
43. Vermont
- Sq. toes for $300,000: 1,006
- Sq. toes for $400,000: 1,342
- Sq. toes for $500,000: 1,677
- Value per sq. foot: $298
- Housing cost-of-living index: 133.1
44. Maine
- Sq. toes for $300,000: 986
- Sq. toes for $400,000: 1,315
- Sq. toes for $500,000: 1,644
- Value per sq. foot: $304
- Housing cost-of-living index: 135.8
45. Arizona
- Sq. toes for $300,000: 985
- Sq. toes for $400,000: 1,313
- Sq. toes for $500,000: 1,641
- Value per sq. foot: $305
- Housing cost-of-living index: 136
46. New Jersey
- Sq. toes for $300,000: 969
- Sq. toes for $400,000: 1,292
- Sq. toes for $500,000: 1,615
- Value per sq. foot: $310
- Housing cost-of-living index: 138.2
47. New York
- Sq. toes for $300,000: 787
- Sq. toes for $400,000: 1,049
- Sq. toes for $500,000: 1,311
- Value per sq. foot: $381
- Housing cost-of-living index: 170.2
48. California
- Sq. toes for $300,000: 641
- Sq. toes for $400,000: 854
- Sq. toes for $500,000: 1,068
- Value per sq. foot: $468
- Housing cost-of-living index: 209.1
49. Massachusetts
- Sq. toes for $300,000: 593
- Sq. toes for $400,000: 790
- Sq. toes for $500,000: 988
- Value per sq. foot: $506
- Housing cost-of-living index: 226
50. Hawaii
- Sq. toes for $300,000: 443
- Sq. toes for $400,000: 590
- Sq. toes for $500,000: 738
- Value per sq. foot: $678
- Housing cost-of-living index: 302.6
