15 States That Offer the Most House for Your Money
Equality of constitutional right and power may be the condition of all the states in the Union, according to the U.S. Constitution, but equality of price of square footage in said states is certainly not.
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Every state has its own real estate trends and costs. New research featured on Visual Capitalist gets into the nitty-gritty on the pricing of square footage of every state in the country. Using this research, GOBankingRates captured the 15 cheapest states, according to the cost of square footage, and explored some real estate trends in each of them. Generally, home prices have risen in the past year.
Let's have a closer look.
Georgia
Price per square foot: $180.61
Median home size in Georgia: 2,262 sq. ft.
According to Redfin, the median home price in Georgia as of April was $362,400, and home prices were up 0.9% year over year. Simultaneously, the number of homes sold dropped 25.4% and the number of homes for sale rose 13.0%.
Michigan
Price per square foot: $178.57
Median home size in Michigan: 1,726 sq. ft.
Home prices have been rising in Michigan. According to Redfin, April home prices were up 4.5% compared to last year, selling for the median price of $238,800.
Nebraska
Price per square foot: $169.26
Median home size in Nebraska: 2,016 sq. ft.
According to Redfin, as of April, home prices in Nebraska were up 4% over 2022, but the number of homes sold fell 27.4% and the number of homes for sale fell 7.6%.
Oklahoma
Price per square foot: $167.50
Median home size in Oklahoma: 1,941 sq. ft.
Home prices in Oklahoma were up 0.4% in April, according to Redfin, and the number of homes for sale rose 19.6%. Yet the number of homes sold dropped 22.5%.
Missouri
Price per square foot: $162.46
Median home size in Missouri: 1,848 sq. ft.
According to Redfin, home prices in Missouri were up 3.2% in April over the year prior. But there has been a 15.6% drop in the number of homes sold, and the number of homes for sale fell 7.3%. The median home price is currently $248,000.
Kentucky
Price per square foot: $155.86
Median home size in Kentucky: 1,953 sq. ft.
In April, housing prices in Kentucky were up 2.9% compared to April 2022, and sold for a median price of $243,000, according to Redfin, which also noted a significant drop in homes sold in that time period: down 24.8%.
Alabama
Price per square foot: $155.82
Median home size in Alabama: 2,146 sq. ft.
According to Redfin, Alabama home prices were down 0.58% year over year in April. And, during that time, the number of homes sold fell 24.7% while the number of homes for sale rose 3.7%. The average price of a home there as of April was $274,100.
Indiana
Price per square foot: $153.55
Median home size in Indiana: 2,011 sq. ft.
Indiana home prices were up 13.5% compared to last April, and houses sold for a median price of $159,000, according to Redfin. Just 11 homes sold in April this year, down from 15 in 2022.
Louisiana
Price per square foot: $149.65
Median home size in Louisiana: 1,955 sq. ft.
According to Redfin, in April 2023, the median home price in Louisiana was $250,100. Home prices there were down 3.9% compared to the same month in 2022.
Ohio
Price per square foot: $146.77
Median home size in Ohio: 1,803 sq. ft.
In April, home prices in Ohio were up 3.7% year over year, but the number of homes sold fell 21.4%. The number of homes for sale also fell -- 19.7%, according to Redfin. The average home price in Ohio in April was $227,700.
North Dakota
Price per square foot: $139.12
Median home size in North Dakota: 2,190 sq. ft.
According to Zillow, the average home price in North Dakota is $244,741, up 4.0% over the past year. Homes go off the market, to pending, in around 28 days.
Kansas
Price per square foot: $135.92
Median home size in Kansas: 2,020 sq. ft.
In April, home prices in Kansas were up 3.3% compared to 2022, and sold for a median price of $258,400, according to Redfin. The number of homes sold was down 23.0% and there were 2,513 homes sold in April this year, down from 3,259 homes sold in April 2022.
Arkansas
Price per square foot: $134.74
Median home size in Arkansas: 1,860 sq. ft.
According to Redfin, there are currently 10,232 homes for sale in Arkansas. The median home price in Arkansas is $299,900.
Mississippi
Price per square foot: $130.46
Median home size in Mississippi: 2,065 sq. ft.
Mississippi home prices average $166,966 -- up 3.5% over the past year, according to Zillow.
West Virginia
Price per square foot: $119.56
Median home size in West Virginia: 1,752 sq. ft.
The typical home in West Virginia costs $151,886, up 3.9% over the past year, according to Zillow.
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This article originally appeared on GOBankingRates.com: 15 States That Offer the Most House for Your Money
