GOBankingRates answers the question on home buyers’ minds: “How much home can I afford where I live?”
In a recent study, GOBankingRates examined how much home you can buy for $300,000 in each U.S. state and the District of Columbia. The findings reveal that your money can buy nearly 3,500 sq. ft. in some states but just more than 600 sq. ft in others. Potential home buyers can look for their desired location in the article linked below to see if they’ve adequately saved for their dream house.
To find this information, GOBankingRates researched the median property listing price in every state and the District of Columbia. Each listing price was divided by $300,000 to arrive at the median list price per square foot.
States That Buy the Least Square Footage for $300,000:
- District of Columbia: 603 Square Feet
- Hawaii: 625 Square Feet
- California: 1,066 Square Feet
- Massachusetts: 1,327 Square Feet
- Colorado: 1,471 Square Feet
- Oregon: 1,588 Square Feet
- Rhode Island: 1,634 Square Feet
- New York: 1,664 Square Feet
- Washington: 1,694 Square Feet
- Montana: 1,779 Square Feet
- In the 10 most affordable states to buy a home, you can expect to pay $99 or less per square foot for houses in the $300,000 price range.
- Indiana was the least expensive state to buy a house at approximately $86 per square foot. The District of Columbia and Hawaii are the most expensive at $497 and $480 per square foot, respectively.