The median home price in the U.S. is $428,700, according to data from the Federal Reserve Bank of St. Louis.Hawaii and Washington, D.C., have the highest home prices in the U.S.To manage high costs, you can look for homes in less expensive cities and shop around for the best mortgage rates.
As a resident of the third-most expensive state to buy a house, I can confirm that finding an affordable home in Southern California is like finding a millennial who hates avocados and free delivery. The median price of a U.S. home has grown 30% since 2020, according to data from the Federal Reserve Bank of St. Louis. The typical price of a U.S. home now sits around $429,000, according to data from Zillow.
That said, home prices in some areas are less affordable than in others. The Ascent has researched the average house price by state, and the results are in: The following 10 states have the highest home prices in the nation.
A typical house in Hawaii costs $1,038,544. That’s — whips out calculator — almost 2.5 times the cost of the average U.S. home. Holy mackerel. Ocean views and tiny martini umbrellas don’t come cheap.
The District of Columbia takes silver for highest home prices. A typical house here costs $826,124. Despite the state’s dense population of big earners, homeowners commonly pay over half their income to cover their mortgage payments.