(NewsNation) — Looking for a house? Depending on where you live, the amount of house you can get for the money will be very different.
Location is the largest contributor to housing costs, with a typical home in Hawaii, for example, costing more than six times a typical home in West Virginia.
Mehouse prices in dian by state:
Let’s say your home buying budget is $300,000. For most, this price will not afford accommodation in Hawaii. Oahu’s median price for a single family home in August 2022 was $1,125,500, and the median condo/townhouse price was $498,500.
In today’s market, $300,000 can barely buy you a studio or one bedroom unit in Hawaii. An example of a unit in this price range is $297,000 for one bedroom in Waikiki. The unit is a fully furnished legal short term vacation rental.
“Hawaii is a state where we have many newcomers every year and constant turnover. We have all branches of the military and corporate removals. There is always a lot of movement, especially on Oahu. We’ve also seen a lot of relocations from Colorado, California, Washington and Texas,” said real estate agent Ayla Toman.
There is also a limited amount of land available for housing in Hawaii.
“Only 8% of Oahu’s land is actually available for development. All this is already taken and will be developed in the next 20-25 years. So land in Hawaii is paramount,” Toman added.
Here’s what $300,000 will buy you at the topdian-house-price States:
- Hawaii: $848,926; cost per square foot: $649
- $300,000 buys you 462 square feet
- California: $848,926; cost per square foot: $468
- $300,000 buys you 641 square feet
- Washington: $595,732; cost per square foot: $313
- $300,000 buys you 958 square feet
- Colorado: $559,838; cost per square foot: $263
- $300,000 buys you 1,141 square feet
- Massachusetts: $559,312; cost per square foot: $321
- $300,000 buys you 935 square feet
Meanwhile, in West Virginia, $300,000 can do a lot. Realtor C’Anna Keffer told NewsNation Digital that for that amount of money, you can buy a house with at least three beds and two bathrooms that is at least 1,500 square feet.
An example of a house at this price would be $275,000 for a six-bedroom house in Morgantown, West Virginia.
“You’re not just going to have a detached house; it is its own unit. But you’re also going to get a yard, if not more, often in nice neighborhoods,” Keffer said.
West Virginia ranks fourth among the worst places to live in a US & World News ranking, a spot it has held since 2018. Kefir says that largely reflects how states govern themselves.
Mountain State started a program called Ascend, where people could earn tax credits of up to $12,000 if they moved to West Virginia. The hope was to encourage people to try West Virginia. Overall, says Keffer, West Virginians appreciate slightly lower taxes, a bit more space, and the outdoors.
“I love West Virginia. It’s home. The people are incredibly warm and friendly. We’re so welcoming and inviting. We enjoy all four seasons, and that’s something you can’t find in many other places. We have beautiful places to hike and relax and boat and fish and ski. We really enjoy, you know, all year round activities,” Keffer added.
Here’s what $300,000 will buy you at rock bottomdian-house-price States:
- Iowa: $183,418; cost per square foot: $118
- $300,000 buys you 2,542 square feet
- Oklahoma: $171,057; cost per square foot: $98
- $300,000 buys you 3,061 square feet
- Arkansas: $169,867; cost per square foot: $95
- $300,000 buys you 3,157 square feet
- Mississippi: $157,828; cost per square foot: $84
- $300,000 buys you 3,571 square feet
- West Virginia: $129,103; cost per square foot: $75
- $300,000 buys you 4,000 square feet