Using
the state median home value of around $ 400,000, we compared lender estimates on a conventional home loan to identify the best deals currently available.
Using
the state median home value of around $ 400,000, we compared lender estimates on a conventional home loan to identify the best deals currently available.
Not exact matches
Income and property taxes paid are lower than in most
states because
median income and
median home values are near the bottom of the list.
This central Mississippi County has the highest
median home value of any county in the
state, at $ 201,200 (according to the U.S. Census Bureau).
But property taxes paid in Iowa are lower than in half of the
states because of Iowa's low
median home value.
Property taxes paid also are relatively high because the
median home value and tax rate are higher than in more than half of the
states.
New Mexico has the seventh - lowest total tax bill, on average, in the U.S. Property and income taxes paid are among the lowest of all
states — due, in large part, to a low
median income and a low
median home value in the
state.
The
state's
median home values are well above the national average.
Papillion is just 6 percent more expensive than the rest of the
state, although the
median household income is 41 percent higher and
median home values are 28 percent higher.
However, many Maryland homeowners pay at least $ 3,000 in property taxes per year because the
state's
median home value is close to $ 300,000.
The
median home value in The Mountain
State is less than $ 100,000.
This is quite a bit higher than the
state's
median home value of $ 185,200.
Median home values are 613 percent higher and median household incomes are 328 percent higher than Ohio as a whole, but the cost of living in The Village of Indian Hill is just 108 percent higher than the rest of the state, according to Area
Median home values are 613 percent higher and
median household incomes are 328 percent higher than Ohio as a whole, but the cost of living in The Village of Indian Hill is just 108 percent higher than the rest of the state, according to Area
median household incomes are 328 percent higher than Ohio as a whole, but the cost of living in The Village of Indian Hill is just 108 percent higher than the rest of the
state, according to AreaVibes.
Cincinnati boasts some of the highest
median prices in the
state, thanks to a rapid spike in
home value over the past few years.
The county's
median home value is $ 142,900, compared with a
state median of just under $ 100,000.
According to the real estate data company Zillow, the
median home value in the
state capital was $ 293,600, as of May 2017.
According to Zillow, the
median home value for the
state as a whole was $ 519,100, as of November 2017.
The
state's average effective property tax rate (
median annual taxes paid as a percentage of
median home value) is 0.96 %.
The research team at Zillow, for example, recently predicted that the
median home value for the
state would rise by 4.1 % over the next 12 months.
The research team at Zillow, for examples, recently reported that the
state's
median home value rose by 7.8 % during the 12 months ending in November 2017.
The average effective property tax rate (
median property taxes as a percentage of
median home value) in Box Elder County is 0.70 %, fourth highest in the
state.
Our analysis of rates for a purchase mortgage at the
state's
median home value of $ 300,000 revealed that the lowest mortgage rate offers can be found among smaller direct lenders, many of whom advertise their offers online.
The
state's
median home value was $ 243,600 as of August 2017, an 8.9 % increase from 2016, according to Zillow.
However, the report shows «a number of red flags» including a declining population, a «noticeably less»
median home value than the
state's
median, and a child poverty rate of 44 percent, which is higher than cities of similar size.
Our analysis of rates for a purchase mortgage at the
state's
median home value of $ 300,000 revealed that the lowest mortgage rate offers can be found among smaller direct lenders.
Higher
home values: The
median home values in these
states are generally greater than those in low - priced
states, which means more dwelling coverage is needed.
Lower
home values: The
median home values in these
states will be typically less than other
states, which means lower dwelling coverage amounts and equates to lower
home insurance rates.
Homeownership in Stafford is about 10 % above the
state's
median rate, and
home values, which average about $ 309,000, are about $ 60,000 above the
state average.
The average
home in Los Alamos is
valued at over $ 285,800 (as compared to the
state's
median home value of $ 161,500).
Homeownership is 15 % above the
state average and the
median home value is $ 335,300, about $ 100,000 more than the average Colorado
home.
Illinois, Michigan and Florida all have
median home values below the national average and relatively high mortgage debt compared to housing prices in the
state.
States like Connecticut and Massachusetts, which have among the highest
median home values in the U.S., also have among the highest mortgage debt.
The fact that the
state is
home to Las Vegas — where
median home values are expected to rise approximately 5.8 percent over the next 12 months — accounts for much of the market strength.
We compiled the
median home values in each
state, as well as the property damage done to the
state per square mile in the last 60 years.
We calculated this cost by collecting a number of mortgage closing cost estimates for a
home in the largest
state for a house with the national
median value.
We also looked at data on
median home values in each
state to determine where it would take the longest to save for a down payment on a
home at the minimum wage.
The data on minimum wage were obtained from the U.S. Department of Labor, while
median owner - occupied
home values for the
states came from data provided by S&P.
The
states with the highest
median home values also pay some of the highest minimum wages, but we found that these weren't enough to offset the expense of a down payment.
New Jersey and Maryland reported some of the highest
median home values, but the minimum wage sits below $ 10 in both
states.
To calculate
median home values for 3,119 counties and county - equivalents in the United
States, NAR applied the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS).
As a comparison, Zillow reports that the
median home value as of June 2016 in the United
States is $ 180,100.
However, mortgage debt statistics vary widely across the U.S.
states with the large disparity in
median home value for
homes with a mortgage ($ 137,300 to $ 602,700) and
median household income for homeowners with a mortgage ($ 68,744 to $ 143,414), both affecting the ability to pay and the need to take out loans.
Higher
home values: The
median home values in these
states are generally greater than those in low - priced
states, which means more dwelling coverage is needed.
Farmington Hills insurance quotes may be slightly more than the
state average, due to the higher
median income and
home values in the area.
Chino Hills has
median income, and
home values that are well above the
state average.
With a
median home value of over $ 400k, Falmouth homeowners also have some of the more expensive
homes in the
state (more than double the
state average
home value).
With a
median home value of $ 133,100, the average
home in the Hawkeye
State costs 2.5 times the
median income.
Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a
median home value for 3,119 counties and county - equivalents in the United
States.
Similarly those numbers are higher than the overall
median home value in Minnesota and
median property taxes paid in the
state - $ 185,200 and $ 2,204, respectively.
The county's
median home value is $ 142,900, compared with a
state median of just under $ 100,000.