Here’s the Current State of the Housing Market in Every State

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If you’re thinking of buying, selling or investing in real estate, forget what you’ve read about the “housing market.” The housing market is actually 50 different housing markets, and if you’re considering making a move, the first step is to understand the situation on the ground where you live — and how that situation evolved over the last two extraordinary years.

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Using data from Zillow, GOBankingRates outlined the housing market situation in every state from 2022 to the present. For each state, you’ll see the changes in the typical single-family residence home value in terms of dollar value over the past six months, one year and two years. 

Keep reading to learn how the last two years steered home values in your state.

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Key Findings

• In the past six months, home values have increased by over $14,000 in three states — New Jersey, Massachusetts and California. New Jersey has seen the largest increase, with home values increasing by $14,876 from September 2023 to February 2024.

• Home values have risen by over $40,000 over the past year in four states — Massachusetts, New Jersey, California and Connecticut. Home values increased the most in Massachusetts from February 2023 to February 2024 — $49,382.

• Over the past two years, home values have increased the most in Massachusetts. The average home value has increased by $78,145 from February 2022 to February 2024.

• Home values have decreased in the past six months in several states: Hawaii, North Dakota, Louisiana, Mississippi, Texas, Alaska, Alabama, Minnesota and Oregon.

• Idaho has experienced the biggest drop in home values over the past two years, with a decline of $16,195 from February 2022 to February 2024.

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Alabama

• February 2024 home value: $217,961

• 6-month change in home value (dollar amount): -$587

• 1-year change in home value (dollar amount): $4,122

• 2-year change in home value (dollar amount): $13,996

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Alaska

• February 2024 home value: $362,644

• 6-month change in home value (dollar amount): -$691

• 1-year change in home value (dollar amount): $4,532

• 2-year change in home value (dollar amount): $13,672

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Arizona

• February 2024 home value: $436,307

• 6-month change in home value (dollar amount): $4,842

• 1-year change in home value (dollar amount): $10,408

• 2-year change in home value (dollar amount): $10,673

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Arkansas

• February 2024 home value: $198,530

• 6-month change in home value (dollar amount): $718

• 1-year change in home value (dollar amount): $5,859

• 2-year change in home value (dollar amount): $12,177

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California

• February 2024 home value: $785,294

• 6-month change in home value (dollar amount): $14,537

• 1-year change in home value (dollar amount): $41,459

• 2-year change in home value (dollar amount): $44,146

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Colorado

• February 2024 home value: $550,989

• 6-month change in home value (dollar amount): $1,200

• 1-year change in home value (dollar amount): $4,961

• 2-year change in home value (dollar amount): $15,716

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Connecticut

• February 2024 home value: $409,905

• 6-month change in home value (dollar amount): $12,639

• 1-year change in home value (dollar amount): $40,604

• 2-year change in home value (dollar amount): $68,371

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Delaware

• February 2024 home value: $371,763

• 6-month change in home value (dollar amount): $4,692

• 1-year change in home value (dollar amount): $16,289

• 2-year change in home value (dollar amount): $37,281

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Florida

• February 2024 home value: $409,638

• 6-month change in home value (dollar amount): $5,138

• 1-year change in home value (dollar amount): $12,825

• 2-year change in home value (dollar amount): $54,069

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Georgia

• February 2024 home value: $323,386

• 6-month change in home value (dollar amount): $3,847

• 1-year change in home value (dollar amount): $12,945

• 2-year change in home value (dollar amount): $34,593

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Hawaii

• February 2024 home value: $967,296

• 6-month change in home value (dollar amount): -$4,746

• 1-year change in home value (dollar amount): $6,315

• 2-year change in home value (dollar amount): $52,802

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Idaho

• February 2024 home value: $443,630

• 6-month change in home value (dollar amount): $1,912

• 1-year change in home value (dollar amount): $1,495

• 2-year change in home value (dollar amount): -$16,195

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Illinois

• February 2024 home value: $255,278

• 6-month change in home value (dollar amount): $4,298

• 1-year change in home value (dollar amount): $15,095

• 2-year change in home value (dollar amount): $24,400

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Indiana

• February 2024 home value: $231,797

• 6-month change in home value (dollar amount): $2,088

• 1-year change in home value (dollar amount): $11,139

• 2-year change in home value (dollar amount): $24,465

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Iowa

• February 2024 home value: $212,618

• 6-month change in home value (dollar amount): $1,315

• 1-year change in home value (dollar amount): $8,143

• 2-year change in home value (dollar amount): $20,283

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Kansas

• February 2024 home value: $218,078

• 6-month change in home value (dollar amount): $923

• 1-year change in home value (dollar amount): $9,216

• 2-year change in home value (dollar amount): $23,995

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Kentucky

• February 2024 home value: $196,576

• 6-month change in home value (dollar amount): $2,438

• 1-year change in home value (dollar amount): $8,416

• 2-year change in home value (dollar amount): $20,390

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Louisiana

• February 2024 home value: $195,141

• 6-month change in home value (dollar amount): -$3,337

• 1-year change in home value (dollar amount): -$5,401

• 2-year change in home value (dollar amount): -$5,663

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Maine

• February 2024 home value: $379,011

• 6-month change in home value (dollar amount): $5,540

• 1-year change in home value (dollar amount): $28,713

• 2-year change in home value (dollar amount): $53,951

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Maryland

• February 2024 home value: $418,225

• 6-month change in home value (dollar amount): $1,645

• 1-year change in home value (dollar amount): $14,036

• 2-year change in home value (dollar amount): $25,431

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Massachusetts

• February 2024 home value: $616,983

• 6-month change in home value (dollar amount): $14,664

• 1-year change in home value (dollar amount): $49,382

• 2-year change in home value (dollar amount): $78,145

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Michigan

• February 2024 home value: $230,579

• 6-month change in home value (dollar amount): $2,498

• 1-year change in home value (dollar amount): $11,045

• 2-year change in home value (dollar amount): $19,854

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Minnesota

• February 2024 home value: $328,696

• 6-month change in home value (dollar amount): -$349

• 1-year change in home value (dollar amount): $7,142

• 2-year change in home value (dollar amount): $14,873

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Mississippi

• February 2024 home value: $170,810

• 6-month change in home value (dollar amount): -$1,278

• 1-year change in home value (dollar amount): $1,244

• 2-year change in home value (dollar amount): $1,723

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Missouri

• February 2024 home value: $239,144

• 6-month change in home value (dollar amount): $1,662

• 1-year change in home value (dollar amount): $11,070

• 2-year change in home value (dollar amount): $24,416

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Montana

• February 2024 home value: $450,517

• 6-month change in home value (dollar amount): $3,628

• 1-year change in home value (dollar amount): $19,956

• 2-year change in home value (dollar amount): $35,766

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Nebraska

• February 2024 home value: $251,976

• 6-month change in home value (dollar amount): $1,726

• 1-year change in home value (dollar amount): $11,936

• 2-year change in home value (dollar amount): $28,801

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Nevada

• February 2024 home value: $441,950

• 6-month change in home value (dollar amount): $9,488

• 1-year change in home value (dollar amount): $9,850

• 2-year change in home value (dollar amount): $13,946

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New Hampshire

• February 2024 home value: $475,398

• 6-month change in home value (dollar amount): $9,333

• 1-year change in home value (dollar amount): $36,566

• 2-year change in home value (dollar amount): $75,993

Read More: How Much Household Income Will Be Considered Upper Middle Class in 5 Years?

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New Jersey

• February 2024 home value: $519,941

• 6-month change in home value (dollar amount): $14,876

• 1-year change in home value (dollar amount): $42,694

• 2-year change in home value (dollar amount): $69,496

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New Mexico

• February 2024 home value: $293,801

• 6-month change in home value (dollar amount): $3,698

• 1-year change in home value (dollar amount): $14,452

• 2-year change in home value (dollar amount): $33,449

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New York

• February 2024 home value: $428,712

• 6-month change in home value (dollar amount): $10,876

• 1-year change in home value (dollar amount): $30,204

• 2-year change in home value (dollar amount): $53,353

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North Carolina

• February 2024 home value: $324,113

• 6-month change in home value (dollar amount): $3,331

• 1-year change in home value (dollar amount): $12,940

• 2-year change in home value (dollar amount): $38,531

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North Dakota

• February 2024 home value: $252,455

• 6-month change in home value (dollar amount): -$3,910

• 1-year change in home value (dollar amount): -$1,669

• 2-year change in home value (dollar amount): $6,060

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Ohio

• February 2024 home value: $218,937

• 6-month change in home value (dollar amount): $3,059

• 1-year change in home value (dollar amount): $13,355

• 2-year change in home value (dollar amount): $25,633

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Oklahoma

• February 2024 home value: $200,364

• 6-month change in home value (dollar amount): $2,457

• 1-year change in home value (dollar amount): $7,247

• 2-year change in home value (dollar amount): $20,805

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Oregon

• February 2024 home value: $494,780

• 6-month change in home value (dollar amount): -$214

• 1-year change in home value (dollar amount): $7,492

• 2-year change in home value (dollar amount): $8,892

Learn More: What Income Level Is Considered Middle Class in Your State?

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Pennsylvania

• February 2024 home value: $256,822

• 6-month change in home value (dollar amount): $3,086

• 1-year change in home value (dollar amount): $11,890

• 2-year change in home value (dollar amount): $24,616

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Rhode Island

• February 2024 home value: $448,778

• 6-month change in home value (dollar amount): $9,123

• 1-year change in home value (dollar amount): $33,830

• 2-year change in home value (dollar amount): $60,504

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South Carolina

• February 2024 home value: $289,251

• 6-month change in home value (dollar amount): $3,047

• 1-year change in home value (dollar amount): $10,155

• 2-year change in home value (dollar amount): $33,237

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South Dakota

• February 2024 home value: $293,085

• 6-month change in home value (dollar amount): $366

• 1-year change in home value (dollar amount): $4,870

• 2-year change in home value (dollar amount): $24,088

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Tennessee

• February 2024 home value: $310,207

• 6-month change in home value (dollar amount): $2,845

• 1-year change in home value (dollar amount): $13,384

• 2-year change in home value (dollar amount): $31,522

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Texas

• February 2024 home value: $299,474

• 6-month change in home value (dollar amount): -$1,222

• 1-year change in home value (dollar amount): -$210

• 2-year change in home value (dollar amount): $18,339

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Utah

• February 2024 home value: $519,469

• 6-month change in home value (dollar amount): $2,866

• 1-year change in home value (dollar amount): $5,216

• 2-year change in home value (dollar amount): $7,881

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Vermont

• February 2024 home value: $375,943

• 6-month change in home value (dollar amount): $118

• 1-year change in home value (dollar amount): $17,343

• 2-year change in home value (dollar amount): $40,917

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Virginia

• February 2024 home value: $383,327

• 6-month change in home value (dollar amount): $5,105

• 1-year change in home value (dollar amount): $20,144

• 2-year change in home value (dollar amount): $38,479

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Washington

• February 2024 home value: $589,807

• 6-month change in home value (dollar amount): $4,801

• 1-year change in home value (dollar amount): $15,822

• 2-year change in home value (dollar amount): $19,197

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West Virginia

• February 2024 home value: $155,333

• 6-month change in home value (dollar amount): $1,007

• 1-year change in home value (dollar amount): $5,715

• 2-year change in home value (dollar amount): $12,149

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Wisconsin

• February 2024 home value: $289,236

• 6-month change in home value (dollar amount): $1,563

• 1-year change in home value (dollar amount): $15,562

• 2-year change in home value (dollar amount): $33,281

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Wyoming

• February 2024 home value: $333,745

• 6-month change in home value (dollar amount): $1,089

• 1-year change in home value (dollar amount): $10,453

• 2-year change in home value (dollar amount): $28,318

Andrew Lisa contributed to the reporting for this article.

Methodology: For this piece, GOBankingRates used Zillow’s February 2024 Single-Family Residence (SFR) home value data to discover the current state of the housing market in every state. First, for each state GOBankingRates found the following: (1) February 2022 SFR home value; (2) February 2023 SFR home value; (3) September 2023 SFR home value; (4) January 2024 SFR home value; and (5) February 2024 SFR home value. With these figures collected, GOBankingRates next found the following for each state: (6) two-year (February 2022 to February 2024) change in SFR home value; (7) one-year (February 2023 to February 2024) change in SFR home value; (8) six-month (September 2023 to February 2024) change in SFR home value; and (9) one-month (January 2024 to February 2024) change in SFR home value. All data was collected and is up-to-date as of April 10, 2024.

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This article originally appeared on GOBankingRates.com: Here’s the Current State of the Housing Market in Every State