04-16-2024  7:54 pm   •   PDX and SEA Weather
By The Skanner News | The Skanner News
Published: 31 July 2023

New data has revealed the most expensive states to own a home in America.

The research, conducted by real estate experts Agent Advice, analyzed the typical price of homes throughout the country from March 2021-March 2023. The data also considered price and percentage increases to supply a comprehensive account of real estate in America.

Hawaii takes the crown as the most expensive state to own a home. It’s no secret that the 'Aloha State’ is a hotspot for residents looking to buy their property, with typical house prices reported to be $834,583 as of March 2023. This is 146% above the national average – $338,649 – and a 25% increase from March 2021, setting house hunters back by an extra $166,777 and standing for the highest monetary increase in the United States. 

California receives a silver medal as the second most expensive state to own a home. The typical house price of a home was $728,134 in March 2023, 115% above the national average. This Western state also has the fourth-highest monetary increase in house prices, with a $95,228 rise between March 2021-March 2023. However, typical house prices also decreased by $18,573 and 2.5% between March 2022-March 2023.

Washington comes in third place. The research has revealed that a typical home price was $562,936 as of March 2023, 66% more than the national average. This is $72,533 more than the typical price in March 2021, making it the ninth-highest rise in price throughout America. That being said, typical house prices also fell by $17,938 and 3.09% between March 2022-March 2023. 

Oregon, nestled in the Pacific Northwest, ranks in seventh place. The data has benchmarked typical house prices at $485,475 as of March 2023, 43% above the national average, with property values increasing by $56,730 and 13% between March 2021-2023. Although, the typical home value has decreased by $11,998 and 2% from March 2022-March 2023.

Chris Heller, Co-founder of Agent Advice has commented on the findings: “Overall, there has been an increase in cost in the last three years throughout the nation. However, this research shows that there has also been a depreciation in multiple states over the last two years, showing a rise in more affordable housing.

“In Hawaii, for example, the typical cost of housing increased by 25% in the last three years; this decreased to 2.98% in the last two years. So, it will be interesting to see if the cost of housing will eventually decrease.”  

top states expensive homes chartSource: Zillow, via Agent Advice

Recently Published by The Skanner News

  • Default
  • Title
  • Date
  • Random

The Skanner Foundation's 38th Annual MLK Breakfast