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What Homes Will Be Worth in Your State by the End of 2020

Alexandria Bova
·12 min read

With so much uncertainty surrounding the housing market in 2020, many Americans may be afraid that buying or selling a house is too risky of a move to make. A recession isn’t great news for buyers, especially with the average family unable to afford a home in many parts of the country as it is. Prospective homebuyers are also concerned about their ability to make mortgage payments. But with all of these economic anxieties, how will you know when it’s a good time to make a move? If you’re debating on whether to buy or sell a home, the best financial choice will depend on the home value forecast in your state.

According to the latest home value forecast data from Zillow, the median home value in the U.S. is $243,225. Home values have gone up 3.8% over the past year, with Zillow predicting an increase of 2.2% within the next year. Many housing analysts predict that home prices will continue to rise — however, at a slower pace.

To figure out the value of homes in 2020 across the country, GOBankingRates analyzed median home values from October 2019 using Zillow’s forecast tool to predict the increase or decrease in home values by state. The study ranked each state according to its median home value, beginning with the lowest.

It is important to note that GOBankingRates used the median home value instead of the median home price by state because value accounts for more factors, such as comparable home sales and inspections. Median home value is an estimate of what the property is actually worth, while the median list price is based on demand and listing agent.

Some home values are set to increase dramatically in just one year, with an anticipated increase of at least $15,000 in states like Idaho, Alaska, Utah and Washington. Other state housing markets, such as West Virginia, Louisiana and Connecticut, will not see much of a difference in home value in 2020. Find out what homes will be worth in your state by the end of the year.

Last updated: Aug. 25, 2020

50. West Virginia

  • Median home value in 2019: $99,700

  • Projected one-year growth rate: 1.30%

  • Forecasted median home value in 2020: $100,996

  • Projected change in home values year over year: $1,296

49. Oklahoma

  • Median home value in 2019: $125,800

  • Projected one-year growth rate: 2.70%

  • Forecasted median home value in 2020: $129,197

  • Projected change in home values year over year: $3,397

48. Mississippi

  • Median home value in 2019: $129,700

  • Projected one-year growth rate: 3.00%

  • Forecasted median home value in 2020: $133,591

  • Projected change in home values year over year: $3,891

47. Arkansas

  • Median home value in 2019: $129,800

  • Projected one-year growth rate: 3.20%

  • Forecasted median home value in 2020: $133,954

  • Projected change in home values year over year: $4,154

Find Out: The Best Place To Buy a Home in Every State

46. Alabama

  • Median home value in 2019: $135,500

  • Projected one-year growth rate: 2.70%

  • Forecasted median home value in 2020: $139,159

  • Projected change in home values year over year: $3,659

45. Kansas

  • Median home value in 2019: $141,500

  • Projected one-year growth rate: 2.50%

  • Forecasted median home value in 2020: $145,038

  • Projected change in home values year over year: $3,538

44. Ohio

  • Median home value in 2019: $143,300

  • Projected one-year growth rate: 3.50%

  • Forecasted median home value in 2020: $148,316

  • Projected change in home values year over year: $5,016

43. Louisiana

  • Median home value in 2019: $147,900

  • Projected one-year growth rate: 1.40%

  • Forecasted median home value in 2020: $149,971

  • Projected change in home values year over year: $2,071

42. Iowa

  • Median home value in 2019: $146,900

  • Projected one-year growth rate: 2.90%

  • Forecasted median home value in 2020: $151,160

  • Projected change in home values year over year: $4,260

41. Kentucky

  • Median home value in 2019: $149,300

  • Projected one-year growth rate: 3.50%

  • Forecasted median home value in 2020: $154,526

  • Projected change in home values year over year: $5,226

40. Indiana

  • Median home value in 2019: $148,500

  • Projected one-year growth rate: 4.60%

  • Forecasted median home value in 2020: $155,331

  • Projected change in home values year over year: $6,831

39. Michigan

  • Median home value in 2019: $154,700

  • Projected one-year growth rate: 4.40%

  • Forecasted median home value in 2020: $161,507

  • Projected change in home values year over year: $6,807

38. Missouri

  • Median home value in 2019: $163,700

  • Projected one-year growth rate: 3.20%

  • Forecasted median home value in 2020: $168,938

  • Projected change in home values year over year: $5,238

37. Nebraska

  • Median home value in 2019: $170,100

  • Projected one-year growth rate: 3.60%

  • Forecasted median home value in 2020: $176,224

  • Projected change in home values year over year: $6,124

36. South Carolina

  • Median home value in 2019: $171,800

  • Projected one-year growth rate: 4.00%

  • Forecasted median home value in 2020: $178,672

  • Projected change in home values year over year: $6,872

35. Tennessee

  • Median home value in 2019: $172,000

  • Projected one-year growth rate: 4.40%

  • Forecasted median home value in 2020: $179,568

  • Projected change in home values year over year: $7,568

34. Pennsylvania

  • Median home value in 2019: $177,500

  • Projected one-year growth rate: 2.50%

  • Forecasted median home value in 2020: $181,938

  • Projected change in home values year over year: $4,438

33. Illinois

  • Median home value in 2019: $184,000

  • Projected one-year growth rate: 2.40%

  • Forecasted median home value in 2020: $188,416

  • Projected change in home values year over year: $4,416

32. Wisconsin

  • Median home value in 2019: $192,900

  • Projected one-year growth rate: 3.60%

  • Forecasted median home value in 2020: $199,844

  • Projected change in home values year over year: $6,944

Check Out: 15 Worst Places To Buy a Home — and Where To Invest Instead

31. North Carolina

  • Median home value in 2019: $191,400

  • Projected one-year growth rate: 4.80%

  • Forecasted median home value in 2020: $200,587

  • Projected change in home values year over year: $9,187

30. New Mexico

  • Median home value in 2019: $196,300

  • Projected one-year growth rate: 2.40%

  • Forecasted median home value in 2020: $201,011

  • Projected change in home values year over year: $4,711

29. South Dakota

  • Median home value in 2019: $195,700

  • Projected one-year growth rate: 3.50%

  • Forecasted median home value in 2020: $202,550

  • Projected change in home values year over year: $6,850

28. Georgia

  • Median home value in 2019: $195,500

  • Projected one-year growth rate: 5.50%

  • Forecasted median home value in 2020: $206,253

  • Projected change in home values year over year: $10,753

27. Texas

  • Median home value in 2019: $200,100

  • Projected one-year growth rate: 3.70%

  • Forecasted median home value in 2020: $207,504

  • Projected change in home values year over year: $7,404

26. North Dakota

  • Median home value in 2019: $209,600

  • Projected one-year growth rate: 2.10%

  • Forecasted median home value in 2020: $214,002

  • Projected change in home values year over year: $4,402

25. Vermont

  • Median home value in 2019: $210,700

  • Projected one-year growth rate: 4.10%

  • Forecasted median home value in 2020: $219,339

  • Projected change in home values year over year: $8,639

24. Delaware

  • Median home value in 2019: $237,200

  • Projected one-year growth rate: 1.90%

  • Forecasted median home value in 2020: $241,707

  • Projected change in home values year over year: $4,507

23. Wyoming

  • Median home value in 2019: $237,100

  • Projected one-year growth rate: 3.00%

  • Forecasted median home value in 2020: $244,213

  • Projected change in home values year over year: $7,113

22. Maine

  • Median home value in 2019: $237,100

  • Projected one-year growth rate: 3.20%

  • Forecasted median home value in 2020: $244,687

  • Projected change in home values year over year: $7,587

21. Montana

  • Median home value in 2019: $241,700

  • Projected one-year growth rate: 2.20%

  • Forecasted median home value in 2020: $247,017

  • Projected change in home values year over year: $5,317

20. Florida

  • Median home value in 2019: $238,600

  • Projected one-year growth rate: 3.60%

  • Forecasted median home value in 2020: $247,190

  • Projected change in home values year over year: $8,590

19. Connecticut

  • Median home value in 2019: $245,000

  • Projected one-year growth rate: 0.90%

  • Forecasted median home value in 2020: $247,205

  • Projected change in home values year over year: $2,205

18. Minnesota

  • Median home value in 2019: $240,800

  • Projected one-year growth rate: 3.60%

  • Forecasted median home value in 2020: $249,469

  • Projected change in home values year over year: $8,669

17. Arizona

  • Median home value in 2019: $258,700

  • Projected one-year growth rate: 4.10%

  • Forecasted median home value in 2020: $269,307

  • Projected change in home values year over year: $10,607

16. Virginia

  • Median home value in 2019: $266,300

  • Projected one-year growth rate: 3.20%

  • Forecasted median home value in 2020: $274,822

  • Projected change in home values year over year: $8,522

15. New Hampshire

  • Median home value in 2019: $281,600

  • Projected one-year growth rate: 2.90%

  • Forecasted median home value in 2020: $289,766

  • Projected change in home values year over year: $8,166

14. Rhode Island

  • Median home value in 2019: $285,500

  • Projected one-year growth rate: 2.00%

  • Forecasted median home value in 2020: $291,210

  • Projected change in home values year over year: $5,710

13. Idaho

  • Median home value in 2019: $275,100

  • Projected one-year growth rate: 7.10%

  • Forecasted median home value in 2020: $294,632

  • Projected change in home values year over year: $19,532

12. Maryland

  • Median home value in 2019: $292,300

  • Projected one-year growth rate: 1.30%

  • Forecasted median home value in 2020: $296,100

  • Projected change in home values year over year: $3,800

11. Nevada

  • Median home value in 2019: $292,900

  • Projected one-year growth rate: 1.80%

  • Forecasted median home value in 2020: $298,172

  • Projected change in home values year over year: $5,272

10. New York

  • Median home value in 2019: $305,800

  • Projected one-year growth rate: 4.00%

  • Forecasted median home value in 2020: $318,032

  • Projected change in home values year over year: $12,232

9. New Jersey

  • Median home value in 2019: $330,000

  • Projected one-year growth rate: 1.70%

  • Forecasted median home value in 2020: $335,610

  • Projected change in home values year over year: $5,610

8. Alaska

  • Median home value in 2019: $326,300

  • Projected one-year growth rate: 5.30%

  • Forecasted median home value in 2020: $343,594

  • Projected change in home values year over year: $17,294

7. Oregon

  • Median home value in 2019: $351,700

  • Projected one-year growth rate: 2.70%

  • Forecasted median home value in 2020: $361,196

  • Projected change in home values year over year: $9,496

6. Utah

  • Median home value in 2019: $348,000

  • Projected one-year growth rate: 5.00%

  • Forecasted median home value in 2020: $365,400

  • Projected change in home values year over year: $17,400

5. Colorado

  • Median home value in 2019: $385,200

  • Projected one-year growth rate: 2.30%

  • Forecasted median home value in 2020: $394,060

  • Projected change in home values year over year: $8,860

4. Washington

  • Median home value in 2019: $395,500

  • Projected one-year growth rate: 4.00%

  • Forecasted median home value in 2020: $411,320

  • Projected change in home values year over year: $15,820

3. Massachusetts

  • Median home value in 2019: $410,200

  • Projected one-year growth rate: 2.10%

  • Forecasted median home value in 2020: $418,814

  • Projected change in home values year over year: $8,614

2. California

  • Median home value in 2019: $552,100

  • Projected one-year growth rate: 1.80%

  • Forecasted median home value in 2020: $562,038

  • Projected change in home values year over year: $9,938

1. Hawaii

  • Median home value in 2019: $622,700

  • Projected one-year growth rate: 2.10%

  • Forecasted median home value in 2020: $635,777

  • Projected change in home values year over year: $13,077

More From GOBankingRates

Methodology: GOBankingRates found what home values will be one year from now in every state by looking at home values from October 2019 and using Zillow’s forecast tool to predict the increase/decrease in home value in every state. The main factors were: (1) the forecasted percentage increase for one year, (2) the amount the home value is expected to increase by and (3) what the home value will be in October 2020.

GOBankingRates used the median home value instead of median listing price because it takes more factors into account, such as comparable home sales and inspections. Median home value is an estimate of what the property is actually worth, while median listing price may be lower or higher than the home value, depending on the price that the listing agent chooses to list the property at and depending on how high the demand is for that given home. All research was conducted on Dec. 18, 2019.

*Home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is calculated from public and user-submitted data, taking into account special features, location and market conditions. To find home values, proprietary automated valuation models apply advanced algorithms to analyze the data to identify relationships within a specific geographic area, between this home-related data and actual sales prices. Home characteristics, such as square footage, location or the number of bathrooms, are given different weights according to their influence on home sale prices in each specific geography over a specific period of time, resulting in a set of valuation rules, or models, that are applied to generate each home’s value.

This article originally appeared on GOBankingRates.com: What Homes Will Be Worth in Your State by the End of 2020

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