These Are The Most Expensive States to Buy a House
- 2 years ago
Buying a home can seem insurmountable, and the costs are only getting higher. Sometimes it seems like the only option is to move away to find a better deal. It’s no secret that some states are more expensive than others, but what are the most expensive places to live in the United States?
HowMuch, a website aimed to help people understand money, put together an infographic that illustrates just how much your annual salary needs to be in every state if you’re interested in buying an “average” home in that state. The results might make you squirm.
Unsurprisingly, the east and west coasts are home to the most expensive, well, homes in the United States. The No. 5 spot goes to Colorado. The median cost of a home in the Rocky Mountain state is $100,200. The salary needed to afford a home near the Mile High City is also $100,200.
The No. 4 spot lands over in New England with the state of Massachusetts. The median cost of a home will run you $490,900. You’ll have to earn an annual salary of $101,320 in order to get out from under the rental market.
Next up on the list, in the No. 3 spot, is California. The median cost of a home is $499,900. In order to purchase a home in the Golden State, you’ll need an annual salary of $120,120. That’s a lot of gold.
No. 2 on our list takes us back to the east coast and into the heart of the U.S. capital. Washington, D.C., might have beautiful landmarks and cherry blossoms galore, but it also has a median home cost of $549,900. To even consider picking up a humble abode there, you’d need to earn $138,440.
Out in the Pacific Ocean is an archipelago with some pretty pricey housing. Hawaii lands in the No. 1 spot with an average home price of $610,000! You’ll need to seriously bring home the bacon, earning at least $153,520 a year, in order to purchase a home on the island.
HowMuch, a website aimed to help people understand money, put together an infographic that illustrates just how much your annual salary needs to be in every state if you’re interested in buying an “average” home in that state. The results might make you squirm.
Unsurprisingly, the east and west coasts are home to the most expensive, well, homes in the United States. The No. 5 spot goes to Colorado. The median cost of a home in the Rocky Mountain state is $100,200. The salary needed to afford a home near the Mile High City is also $100,200.
The No. 4 spot lands over in New England with the state of Massachusetts. The median cost of a home will run you $490,900. You’ll have to earn an annual salary of $101,320 in order to get out from under the rental market.
Next up on the list, in the No. 3 spot, is California. The median cost of a home is $499,900. In order to purchase a home in the Golden State, you’ll need an annual salary of $120,120. That’s a lot of gold.
No. 2 on our list takes us back to the east coast and into the heart of the U.S. capital. Washington, D.C., might have beautiful landmarks and cherry blossoms galore, but it also has a median home cost of $549,900. To even consider picking up a humble abode there, you’d need to earn $138,440.
Out in the Pacific Ocean is an archipelago with some pretty pricey housing. Hawaii lands in the No. 1 spot with an average home price of $610,000! You’ll need to seriously bring home the bacon, earning at least $153,520 a year, in order to purchase a home on the island.