It has been said that there is no place like home for it is where we can find comfort with and be ourselves.
Thus, many of us considered shopping for a home as a tedious yet exciting experience for our convenience greatly lies on this which is, of course, based on one’s monthly income.
Consulting a lender to become qualified for a home loan is one of the many things one should do to gain an idea of the grant to be loaned and the amount to be paid each month. The amount of the home depends on the state where it is located.
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Amount of Average Home In State
GOBankingRates provided the home prices and mortgage rates in every state and the estimated minimum salary needed to afford the average home.
Alabama: $64,163
2023 average home value: $201,212
Monthly mortgage payment: $1,058.61
Annual mortgage payments: $12,703
Alaska: $106,279
2023 average home value: $357,035
Monthly mortgage payment: $2,065.86
Annual mortgage payments: $24,790
Arizona: $96,344
2023 average home value: $420,605
Monthly mortgage payment: $2,304.00
Annual mortgage payments: $27,648
Arkansas: $60,487
2023 average home value: $176,107
Monthly mortgage payment: $963.21
Annual mortgage payments: $11,559
California: $148,908
2023 average home value: $748,161
Monthly mortgage payment: $4,148.16
Annual mortgage payments: $49,778
Colorado: $111,199
2023 average home value: $552,779
Monthly mortgage payment: $2,977.35
Annual mortgage payments: $35,728
Connecticut: $103,999
2023 average home value: $379,101
Monthly mortgage payment: $2,427.31
Annual mortgage payments: $29,128
Delaware: $89,773
2023 average home value: $355,120
Monthly mortgage payment: $1,927.53
Annual mortgage payments: $23,130
Florida: $95,979
2023 average home value: $398,861
Monthly mortgage payment: $2,271.31
Annual mortgage payments: $27,256
Georgia: $80,105
2023 average home value: $307,375
Monthly mortgage payment: $1,750.34
Annual mortgage payments: $21,004
Hawaii: $176,010
2023 average home value: $971,526
Monthly mortgage payment: $5,046.57
Annual mortgage payments: $60,559
Idaho: $97,916
2023 average home value: $971,526
Monthly mortgage payment: $2,418.02
Annual mortgage payments: $29,016
Illinois: $79,065
2023 average home value: $239,065
Monthly mortgage payment: $1,588.47
Annual mortgage payments: $19,062
Indiana: $69,677
2023 average home value: $221,357
Monthly mortgage payment: $1,247.60
Annual mortgage payments: $14,971
Iowa: $70,093
2023 average home value: $201,546
Monthly mortgage payment: $1,246.79
Annual mortgage payments: $14,961
Kansas: $70,204
2023 average home value: $208,883
Monthly mortgage payment: $1,260.85
Annual mortgage payments: $15,130
Kentucky: $64,790
2023 average home value: $188,438
Monthly mortgage payment: $1,058.92
Annual mortgage payments: $12,707
Louisiana: $63,119
2023 average home value: $182,124
Monthly mortgage payment: $980.95
Annual mortgage payments: $11,771
Maine: $93,928
2023 average home value: $347,071
Monthly mortgage payment: $2,074.73
Annual mortgage payments: $24,897
Maryland: $97,091
2023 average home value: $395,518
Monthly mortgage payment: $2,295.12
Annual mortgage payments: $27,541
Massachusetts: $131,536
2023 average home value: $576,102
Monthly mortgage payment: $3,391.02
Annual mortgage payments: $40,692
Michigan: $70,928
2023 average home value: $212,868
Monthly mortgage payment: $1,295.55
Annual mortgage payments: $15,547
Minnesota: $87,301
2023 average home value: $320,005
Monthly mortgage payment: $1,872.93
Annual mortgage payments: $22,475
Mississippi: $59,413
2023 average home value: $160,346
Monthly mortgage payment: $878.35
Annual mortgage payments: $10,540
Missouri: $69,920
2023 average home value: $226,968
Monthly mortgage payment: $1,307.60
Annual mortgage payments: $15,691
Montana: $97,477
2023 average home value: $427,218
Monthly mortgage payment: $2,375.82
Annual mortgage payments: $28,510
Nebraska: $76,661
2023 average home value: $242,560
Monthly mortgage payment: $1,522.75
Annual mortgage payments: $18,273
Nevada: $98,623
2023 average home value: $429,767
Monthly mortgage payment: $2,336.28
Annual mortgage payments: $28,035
New Hampshire: $116,962
2023 average home value: $442,930
Monthly mortgage payment: $2,909.82
Annual mortgage payments: $34,918
New Jersey: $117,735
2023 average home value: $460,761
Monthly mortgage payment: $3,122.95
Annual mortgage payments: $37,475
New Mexico: $77,014
2023 average home value: $280,010
Monthly mortgage payment: $1,536.17
Annual mortgage payments: $18,434
New York: $101,804
2023 average home value: $396,058
Monthly mortgage payment: $2,410.47
Annual mortgage payments: $28,926
North Carolina: $82,358
2023 average home value: $309,902
Monthly mortgage payment: $1,741.49
Annual mortgage payments: $20,898
North Dakota: $76,476
2023 average home value: $245,226
Monthly mortgage payment: $1,404.61
Annual mortgage payments: $16,855
Ohio: $70,976
2023 average home value: $206,508
Monthly mortgage payment: $1,291.26
Annual mortgage payments: $15,495
Oklahoma: $63,890
2023 average home value: $189,085
Monthly mortgage payment: $1,072.01
Annual mortgage payments: $12,864
Oregon: $114,269
2023 average home value: $491,744
Monthly mortgage payment: $2,812.52
Annual mortgage payments: $33,750
Pennsylvania: $78,695
2023 average home value: $243,386
Monthly mortgage payment: $1,503.60
Annual mortgage payments: $18,043
Rhode Island: $106,613
2023 average home value: $421,742
Monthly mortgage payment: $2,584.36
Annual mortgage payments: $31,012
South Carolina: $75,950
2023 average home value: $272,103
Monthly mortgage payment: $1,470.12
Annual mortgage payments: $17,641
South Dakota: $79,649
2023 average home value: $283,596
Monthly mortgage payment: $1,678.74
Annual mortgage payments: $20,145
Tennessee: $75,947
2023 average home value: $287,793
Monthly mortgage payment: $1,583.67
Annual mortgage payments: $19,004
Texas: $83,946
2023 average home value: $296,285
Monthly mortgage payment: $1,872.37
Annual mortgage payments: $22,468
Utah: $107,797
2023 average home value: $515,621
Monthly mortgage payment: $2,798.69
Annual mortgage payments: $33,584
Vermont: $97,731
2023 average home value: $327,908
Monthly mortgage payment: $2,115.93
Annual mortgage payments: $25,391
Virginia: $90,084
2023 average home value: $363,186
Monthly mortgage payment: $2,056.05
Annual mortgage payments: $24,673
Washington: $123,625
2023 average home value: $577,876
Monthly mortgage payment: $3,276.26
Annual mortgage payments: $39,315
West Virginia: $60,980
2023 average home value: $145,893
Monthly mortgage payment: $787.02
Annual mortgage payments: $9,444
Wisconsin: $82,208
2023 average home value: $262,566
Monthly mortgage payment: $1,652.71
Annual mortgage payments: $19,833
Wyoming: $81,223
2023 average home value: $322,509
Monthly mortgage payment: $1,742.46
Annual mortgage payments: $20,910
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