1. feet. Although it’s not one of the cheapest states to build a house, Florida is home to some of the best cities to own investment property, a separate GOBankingRates study found. That’s because, while even a modest home in the Bay Area is starting to approach seven figures, plenty of states have home prices that can put mansion living within reach for a much larger chunk of the population. Learn more: Buying a House in Indiana: An In-Depth Guide. Liberty State Park, George Washington Bridge, and the Atlantic City Boardwalk are a few huge draws from tourists everywhere. Ranking based on data from the U.S. Census, FBI, and other data sources. Your average mansion will be well over $1 million, but some of the larger homes on the seashore can list as high as $13 million. These cities are beautiful to visit, but unless you're a millionaire, you probably won't be buying a big house there anytime soon. Unless you’re buying a tiny house, it’s not often you can snag a home for less than six digits. There are also a number of incredible state parks featuring breathtaking foliage, hiking trails, bridges, waterfalls, and so much more. We may earn commission on some of the items you choose to buy. The median home price for Iowa is $182k, which is almost 100k below the national average. There’s a catch of course: … There's a lot of uninhabited land in New Mexico that's beautiful in its own way. Should you buy a $12,900 house? This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). If you're in the market for something grand and luxurious, you can get a fantastic mansion for less than half a million. Planing To Walk The Camino De Santiago? Every item on this page was hand-picked by a House Beautiful editor. The collection of islands in the South Pacific sea attract more than nine million people each year. This includes a number of states where a typical mortgage for 5,000 glorious square feet can come in for under $3,000 a month. Check out these safe, affordable places to raise your family. That puts your average mansion right around $900k with several big-ticket buildings going for millions. There's shopping, unique hobby shops, and, of course, scrumptious deep dish pizza. Do we even have to point out the virtues of sunny Florida, with its white sandy beaches and warm Atlantic surf? Ohio is one of the cheapest states to buy a house in, and, based on 2019 real estate market trends, one of the hottest states to move to in 2019. Tourists go to Wisconsin for the incredible greenery, lakefront resorts, and water recreation. But when you look at the mansions, it's a different story. In rural areas, it's harder to find existing mansions, but you could build one from the ground up for as little as $90 per square foot. Florida home prices have risen about 10 percent over the last year, making them one of the fastest growing real estate markets in the nation. In fact, it's the third largest city in the United States and can be a fun place to visit, particularly the Magnificent Mile. The cheapest state to buy a home in is once again West Virginia. Adjusted Income: $57,259. All Right Reserved. And if you want to buy a mansion near one of these parks, you probably can. If you're looking for ocean-front property with all the latest amenities, you're looking at a multi-million dollar property. Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change.Check with the applicable school district prior to making a decision based on these boundaries. Shutterstock Median list price: $180,000. These destinations bring people from all over the world looking for recreation and a picture with the 60-foot sculpture of some of our founding fathers. That puts your average mansion at just shy of $600,000. It's home to historical museums, seaports, architecture, the Mark Twain house, and Yale University. Homebuyers in Kansas are looking at a median home price of $189k, well below the national average. These states are the cheapest places to live in America in 2019, according to data from CNBC's America's Top States for Business study released Wednesday. Not bad for a custom-built mansion you get to design yourself! When you buy a mansion in Mississippi, you also have the opportunity to buy rich history in an older home. Median home prices are listed at $385k, even higher than in New York. The median price of a small condo was $690k, and if you want a comfortably sized home, you're looking at well over a million. While a small mansion in Connecticut doesn't quite break a million, it's sitting above $800k, and if you were to purchase a mansion in a historic neighborhood, you're looking at a multi-million dollar investment for a lavish home. Southern and Midwestern comforts.According to Census region and division delineations, seven of our top 10 states are in the South and three are in the Midwest. Homes there are valued at $182k, and if you're looking for a mansion nestled in the Black Hills, you're looking at around $700k. However, be aware that Oklahoma has an average sales tax rate of 8.82% -- one of the highest in the U.S. -- and it can be up to 11%, depending where you are in the state. According to NeighborhoodX, Hawaii is the most expensive state to buy a house, based on price per square foot. It's also home to Custer National Forest and the Black Hills, an incredible haven of mountains, trees, and nature. Still, South Dakota is one of the most rural states in the nation, which drives the real estate prices down significantly. To illustrate this, GOBankingRates put together a list of 20 states where you can buy a mansion and still anticipate mortgage payments that don’t necessarily require you to be super rich to afford. The median home size in Alabama is 1,588 square feet, the largest on the list so far. Median home price: $122,200. The median home price is $180k with a median price per square foot of $101. Hawaii. Cheapest cities to buy a house: Saint Joseph, Florissant, Independence, Cape Girardeau; Cost of living index: 87.1 >> Browse Missouri investment properties . Iowa is known for its scenic green hills, rumbling rivers, and fields of sweet corn and soybeans. Rural, inland parts of Florida have surprisingly low home prices, which has skewed the median home price to about $290,000, but if we were counting major coastal cities like Naples and Miami, the price would be closer to $330k. 5,000- and 8,000-square-foot homes were selected to represent the range of home sizes various authorities use to define “mansion” (5,000 to 8,000 is the range provided by Zillow). You can live in style for almost nothing. That means the starting price for a mansion is close to $1.3 million. From whale watching in the Puget Sound to Pike Place Market to Olympian National Park, Washington state is one of the most beautiful regions in the pacific northwest. The median listing price in the Mountain State is $165,000 — the lowest median price in the study. Capital: Columbus. Keeping reading to see a list of the top 10 cheapest states to buy a home right now. In Oklahoma, $300,000 will buy you a 3,175-square foot home, on average. If you're in the mood to take in both history and ocean views, Connecticut is a beautiful place to visit. People will pay a lot for living history. So while you should take a little time to reconsider the size of your living space once you’ve been able to spend a good stretch of time outside again, if you’re still dead set on getting a lot more space, know that a little flexibility on location can create a lot of flexibility on cost. As one of the hottest tourist destinations in the world, it shouldn't be surprising to learn that it boasts some of the highest-priced housing in the nation. Back in 2008 when the stock market crashed and we flew into a recession, the housing economy did some funny things. These offers do not represent all available deposit, investment, loan or credit products. On the other hand, some markets went through the roof. The median listing price in the Mountain State is $165,000 – the lowest median price in the study. Not in any particular order, here are the top 11 cheapest places in the US to buy a home. To determine which states … Ohio. The average home price in Massachusetts is $455k with an average price per square foot of $256. Homes at this price are pretty rare, making it more affordable than ever. The state’s leading job industries include automotive, aerospace, m… Related: The Best Place To Buy a Home in Every State, Check Out: The 50 Hardest Places To Sell a Home, Be Wary: 40 Cities With a Housing Bubble That’s About To Burst, Look: Best Places To Own a Home For Less Than $1,000 a Month. Oklahoma. Photo disclaimer: Images used are for representational purposes only. The only place to satisfy all of your guilty pleasures. While the real estate in Western Massachusetts is more manageable, cities like Boston, Cambridge, Plymouth, Salem, and Worcester have some incredible mansions with an even more unbelievable price tag. Wowzer! Median home price: $126,800 These jobs help to boost income of median household to over $50,000. Estimated cost to build a house: $208,825 Estimated hourly labor cost: $14. The median home price is $615k and the price per square foot is a whopping $508. The real estate scene isn't too bad either. Right now, a great many Americans are currently reassessing their living situation. The city of Detroit came in as the cheapest market to buy a home. What's more, the average price per square foot is less than $80, which means you can purchase a 5,000 square foot house for $400k or less. Finally, GOBankingRates ranked the 20 states where it is possible to own a mansion for less than $5,000 a month by affordability, with the state where monthly mortgage payments on mansions are least expensive ranked No. It's no wonder millions of people visit every year. Different markets recovered a lot faster than others, and it's surprising where you can now find affordable real estate. A relatively high average structure cost lands Florida among the most expensive places to build. The cheapest state to buy a home is once again West Virginia. Which NFL Hall of Famer Has the Highest Net Worth. The state of New York is a coveted place to live, even if you're not right in the city. Homes are more expensive in large commercial and suburban areas, like Denver, Colorado Springs, Boulder, Aurora, Fort Collins, Durango, Grand Junction, and the surrounding areas. Some mansions in the nicer neighborhoods of Chicago are selling for upwards of $10 million, with one particularly ornate house selling for $50 million. Nestled on the Mississippi River, it's a city that represents opportunity with the Gateway Arch and some of the best barbecue in the United States. Median home value: $96,300 So what is the cheapest state to live in? It's primarily known for its rich history including national military parks, battlegrounds, nature areas, and more. Serving up the hottest food trends and the inside scoop on restaurants worldwide. Even though Ohio home values have risen more than six and a half percent in the last year, list prices are about $161k, well below the national average. 1) Detroit, Michigan. This city offers soaring economy as well as series of things making it top chart options form best and cheapest states to buy a house. Oklahoma, where the wind comes sweeping down the planes, is another often overlooked vacation destination. Alabama is the seventh-cheapest state to buy a home in. What Does Google’s Move Into Venmo and Bank Territory Mean for You? The tiny state of New Jersey is often overshadowed by the neighboring New York City. Looking for a cheap place to buy a house? Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. For that reason, it's a coveted place to live, and housing prices reflect that. What's more, the average price per square foot is less than $80, which means you can purchase a 5,000 square foot house for $400k or less. The average price per square foot is around $130, so your average mansion is around $650k. Alabama has the second-lowest state … 1. Clearly, many Americans won’t be making plans to hit open houses in the near future — no matter how much they might want to — especially when you consider the grave economic impacts that are expected to come along with the health impacts of this pandemic. West Virginia. 14. California is one of the most highly populated states in the nation with plenty of tourist activity. Nebraska. It's also home to one of the lowest costs of living in the country. The more rural areas boast even more affordable big houses. Toledo, Ohio. Website for moms seeking advice, community, and entertainment. Let's find out the TRUTH about these cheap houses. It's also the birthplace of Elvis Presley, which draws hundreds of thousands of visitors every year. Here's What To Expect. The Hobe Hills subdivision property features a … Median home prices are listed at $171k, meaning you can buy an incredible home for a tiny price. To illustrate this, GOBankingRates put together a list of 20 states where you can buy a mansion and still anticipate mortgage payments that don’t necessarily require you to be super rich to afford. Arkansas bridges the gap between the midwest and the Deep South with the best of both worlds. It's not looking much better either, since real estate prices are rising at a rate of nearly 10 percent. GOBankingRates then compiled data on the median property tax rate in every state and the average 30-year fixed mortgage interest rate in the U.S. from the Tax Foundation and the Federal Reserve Economic Data site, respectively. Homes in each state too shabby for a lakefront property in a gorgeous!... 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