Buying a House? Here’s What $300k, $400k or $500k Gets You

Practically 90% of renters within the U.S. wish to purchase a house — however they cannot afford it, in line with analysis from CNN.

Residence costs rose 3.4% from December 2023 to December 2024 and can improve one other 4.1% by December 2025, per a latest home-price evaluation from CoreLogic.

The median value for an present house (not new development) was $404,500 as of September 2024, the Nationwide Affiliation of Realtors reported, although actual property prices differ significantly nationwide.

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For those who’re among the many roughly 15% of Individuals available in the market for a brand new home, you may be questioning simply how a lot house you may afford.

A latest GOBankingRates evaluation breaks it down. The report sourced the Federal Reserve of St. Louis to seek out the median itemizing value per sq. foot of houses within the U.S. and every state’s housing value index, calculating the value per sq. foot.

GOBankingRates’ analysis revealed {that a} $300,000 finances will purchase you as much as 1,500 sq. ft in houses throughout 25 states and that West Virginia is the one state the place $300,000 should buy a greater than 2,000-square-foot house (2,185 sq. ft).

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Learn on for GOBankingRates’ full evaluation of what house consumers with $300,000, $400,000 and $500,000 budgets can afford throughout the nation:

1. West Virginia

• Sq. ft for $300,000: 2,185
• Sq. ft for $400,000: 2,913
• Sq. ft for $500,000: 3,641
• Worth per sq. foot: $137
• Housing cost-of-living index: 61.3

2. Kansas

• Sq. ft for $300,000: 1,894
• Sq. ft for $400,000: 2,526
• Sq. ft for $500,000: 3,157
• Worth per sq. foot: $158
• Housing cost-of-living index: 70.7

3. Alabama

• Sq. ft for $300,000: 1,876
• Sq. ft for $400,000: 2,501
• Sq. ft for $500,000: 3,126
• Worth per sq. foot: $160
• Housing cost-of-living index: 71.4

4. Mississippi

• Sq. ft for $300,000: 1,855
• Sq. ft for $400,000: 2,473
• Sq. ft for $500,000: 3,092
• Worth per sq. foot: $162
• Housing cost-of-living index: 72.2

5. Oklahoma

• Sq. ft for $300,000: 1,793
• Sq. ft for $400,000: 2,391
• Sq. ft for $500,000: 2,988
• Worth per sq. foot: $167
• Housing cost-of-living index: 74.7

6. Arkansas

• Sq. ft for $300,000: 1,781
• Sq. ft for $400,000: 2,375
• Sq. ft for $500,000: 2,968
• Worth per sq. foot: $168
• Housing cost-of-living index: 75.2

7. Iowa

• Sq. ft for $300,000: 1,776
• Sq. ft for $400,000: 2,368
• Sq. ft for $500,000: 2,960
• Worth per sq. foot: $169
• Housing cost-of-living index: 75.4

8. Indiana

• Sq. ft for $300,000: 1,733
• Sq. ft for $400,000: 2,310
• Sq. ft for $500,000: 2,888
• Worth per sq. foot: $173
• Housing cost-of-living index: 77.3

9. Kentucky

• Sq. ft for $300,000: 1,721
• Sq. ft for $400,000: 2,295
• Sq. ft for $500,000: 2,869
• Worth per sq. foot: $174
• Housing cost-of-living index: 77.8

10. Michigan

• Sq. ft for $300,000: 1,706
• Sq. ft for $400,000: 2,275
• Sq. ft for $500,000: 2,843
• Worth per sq. foot: $176
• Housing cost-of-living index: 78.5

11. Missouri

• Sq. ft for $300,000: 1,704
• Sq. ft for $400,000: 2,272
• Sq. ft for $500,000: 2,840
• Worth per sq. foot: $176
• Housing cost-of-living index: 78.6

12. Georgia

• Sq. ft for $300,000: 1,691
• Sq. ft for $400,000: 2,255
• Sq. ft for $500,000: 2,818
• Worth per sq. foot: $177
• Housing cost-of-living index: 79.2

13. Nebraska

• Sq. ft for $300,000: 1,685
• Sq. ft for $400,000: 2,246
• Sq. ft for $500,000: 2,808
• Worth per sq. foot: $178
• Housing cost-of-living index: 79.5

14. North Dakota

• Sq. ft for $300,000: 1,678
• Sq. ft for $400,000: 2,238
• Sq. ft for $500,000: 2,797
• Worth per sq. foot: $179
• Housing cost-of-living index: 79.8

15. Minnesota

• Sq. ft for $300,000: 1,668
• Sq. ft for $400,000: 2,224
• Sq. ft for $500,000: 2,780
• Worth per sq. foot: $180
• Housing cost-of-living index: 80.3

16. Texas

• Sq. ft for $300,000: 1,647
• Sq. ft for $400,000: 2,196
• Sq. ft for $500,000: 2,746
• Worth per sq. foot: $182
• Housing cost-of-living index: 81.3

17. Maryland

• Sq. ft for $300,000: 1,629
• Sq. ft for $400,000: 2,172
• Sq. ft for $500,000: 2,716
• Worth per sq. foot: $184
• Housing cost-of-living index: 82.2

18. Tennessee

• Sq. ft for $300,000: 1,617
• Sq. ft for $400,000: 2,157
• Sq. ft for $500,000: 2,696
• Worth per sq. foot: $185
• Housing cost-of-living index: 82.8

19. Pennsylvania

• Sq. ft for $300,000: 1,604
• Sq. ft for $400,000: 2,139
• Sq. ft for $500,000: 2,673
• Worth per sq. foot: $187
• Housing cost-of-living index: 83.5

20. Illinois

• Sq. ft for $300,000: 1,591
• Sq. ft for $400,000: 2,121
• Sq. ft for $500,000: 2,651
• Worth per sq. foot: $189
• Housing cost-of-living index: 84.2

21. Louisiana

• Sq. ft for $300,000: 1,587
• Sq. ft for $400,000: 2,116
• Sq. ft for $500,000: 2,645
• Worth per sq. foot: $189
• Housing cost-of-living index: 84.4

22. Montana

• Sq. ft for $300,000: 1,583
• Sq. ft for $400,000: 2,111
• Sq. ft for $500,000: 2,638
• Worth per sq. foot: $190
• Housing cost-of-living index: 84.6

23. New Mexico

• Sq. ft for $300,000: 1,577
• Sq. ft for $400,000: 2,103
• Sq. ft for $500,000: 2,629
• Worth per sq. foot: $190
• Housing cost-of-living index: 84.9

24. South Carolina

• Sq. ft for $300,000: 1,550
• Sq. ft for $400,000: 2,067
• Sq. ft for $500,000: 2,584
• Worth per sq. foot: $194
• Housing cost-of-living index: 86.4

25. Ohio

• Sq. ft for $300,000: 1,529
• Sq. ft for $400,000: 2,038
• Sq. ft for $500,000: 2,548
• Worth per sq. foot: $196
• Housing cost-of-living index: 87.6

26. South Dakota

• Sq. ft for $300,000: 1,493
• Sq. ft for $400,000: 1,991
• Sq. ft for $500,000: 2,488
• Worth per sq. foot: $201
• Housing cost-of-living index: 89.7

27. Wyoming

• Sq. ft for $300,000: 1,486
• Sq. ft for $400,000: 1,982
• Sq. ft for $500,000: 2,477
• Worth per sq. foot: $202
• Housing cost-of-living index: 90.1

28. North Carolina

• Sq. ft for $300,000: 1,401
• Sq. ft for $400,000: 1,868
• Sq. ft for $500,000: 2,335
• Worth per sq. foot: $214
• Housing cost-of-living index: 95.6

29. Delaware

• Sq. ft for $300,000: 1,388
• Sq. ft for $400,000: 1,850
• Sq. ft for $500,000: 2,313
• Worth per sq. foot: $216
• Housing cost-of-living index: 96.5

30. Wisconsin

• Sq. ft for $300,000: 1,360
• Sq. ft for $400,000: 1,813
• Sq. ft for $500,000: 2,266
• Worth per sq. foot: $221
• Housing cost-of-living index: 98.5

31. Idaho

• Sq. ft for $300,000: 1,351
• Sq. ft for $400,000: 1,802
• Sq. ft for $500,000: 2,252
• Worth per sq. foot: $222
• Housing cost-of-living index: 99.1

32. Virginia

• Sq. ft for $300,000: 1,290
• Sq. ft for $400,000: 1,720
• Sq. ft for $500,000: 2,150
• Worth per sq. foot: $233
• Housing cost-of-living index: 103.8

33. Nevada

• Sq. ft for $300,000: 1,254
• Sq. ft for $400,000: 1,672
• Sq. ft for $500,000: 2,090
• Worth per sq. foot: $239
• Housing cost-of-living index: 106.8

34. Colorado

• Sq. ft for $300,000: 1,245
• Sq. ft for $400,000: 1,660
• Sq. ft for $500,000: 2,074
• Worth per sq. foot: $241
• Housing cost-of-living index: 107.6

35. Florida

• Sq. ft for $300,000: 1,244
• Sq. ft for $400,000: 1,658
• Sq. ft for $500,000: 2,073
• Worth per sq. foot: $241
• Housing cost-of-living index: 107.7

36. Rhode Island

• Sq. ft for $300,000: 1,171
• Sq. ft for $400,000: 1,561
• Sq. ft for $500,000: 1,951
• Worth per sq. foot: $256
• Housing cost-of-living index: 114.4

37. New Hampshire

• Sq. ft for $300,000: 1,153
• Sq. ft for $400,000: 1,537
• Sq. ft for $500,000: 1,921
• Worth per sq. foot: $260
• Housing cost-of-living index: 116.2

38. Connecticut

• Sq. ft for $300,000: 1,143
• Sq. ft for $400,000: 1,524
• Sq. ft for $500,000: 1,905
• Worth per sq. foot: $263
• Housing cost-of-living index: 117.2

39. Alaska

• Sq. ft for $300,000: 1,137
• Sq. ft for $400,000: 1,516
• Sq. ft for $500,000: 1,895
• Worth per sq. foot: $264
• Housing cost-of-living index: 117.8

40. Washington

• Sq. ft for $300,000: 1,057
• Sq. ft for $400,000: 1,409
• Sq. ft for $500,000: 1,762
• Worth per sq. foot: $284
• Housing cost-of-living index: 126.7

41. Utah

• Sq. ft for $300,000: 1,033
• Sq. ft for $400,000: 1,377
• Sq. ft for $500,000: 1,721
• Worth per sq. foot: $291
• Housing cost-of-living index: 129.7

42. Oregon

• Sq. ft for $300,000: 1,017
• Sq. ft for $400,000: 1,356
• Sq. ft for $500,000: 1,695
• Worth per sq. foot: $295
• Housing cost-of-living index: 131.7

43. Vermont

• Sq. ft for $300,000: 1,006
• Sq. ft for $400,000: 1,342
• Sq. ft for $500,000: 1,677
• Worth per sq. foot: $298
• Housing cost-of-living index: 133.1

44. Maine

• Sq. ft for $300,000: 986
• Sq. ft for $400,000: 1,315
• Sq. ft for $500,000: 1,644
• Worth per sq. foot: $304
• Housing cost-of-living index: 135.8

45. Arizona

• Sq. ft for $300,000: 985
• Sq. ft for $400,000: 1,313
• Sq. ft for $500,000: 1,641
• Worth per sq. foot: $305
• Housing cost-of-living index: 136

46. New Jersey

• Sq. ft for $300,000: 969
• Sq. ft for $400,000: 1,292
• Sq. ft for $500,000: 1,615
• Worth per sq. foot: $310
• Housing cost-of-living index: 138.2

47. New York

• Sq. ft for $300,000: 787
• Sq. ft for $400,000: 1,049
• Sq. ft for $500,000: 1,311
• Worth per sq. foot: $381
• Housing cost-of-living index: 170.2

48. California

• Sq. ft for $300,000: 641
• Sq. ft for $400,000: 854
• Sq. ft for $500,000: 1,068
• Worth per sq. foot: $468
• Housing cost-of-living index: 209.1

49. Massachusetts

• Sq. ft for $300,000: 593
• Sq. ft for $400,000: 790
• Sq. ft for $500,000: 988
• Worth per sq. foot: $506
• Housing cost-of-living index: 226

50. Hawaii

• Sq. ft for $300,000: 443
• Sq. ft for $400,000: 590
• Sq. ft for $500,000: 738
• Worth per sq. foot: $678
• Housing cost-of-living index: 302.6