The quantity of house a $300,000 funds buys you within the U.S. housing market can range wildly relying in your location.
In Hawaii, $300,000 covers simply 443 sq. ft, in regards to the measurement of a 53-foot-long home delivery container. However in West Virginia, the identical funds stretches to 2,185 sq. ft, providing 4 occasions as a lot house.
That is based on a latest GOBankingRates examine, which analyzed median residence worth per sq. foot to point out how far $300,000 goes in every state. The examine used residence worth information from the Federal Reserve of St. Louis and housing price indexes from the Missouri Financial and Analysis Info Middle to calculate how a lot homebuyers can afford in every state as of January 2025.
A $300,000 funds buys lower than 1,000 sq. ft of house in seven states, most of that are recognized for top housing prices, together with New York and California. Nationwide, $300,000 usually buys a median of 1,511 sq. ft, which holds true in about half of all states, based on the information.
However sadly, $300,000 is lower than what most individuals want to purchase a house. The median U.S. residence worth is $419,200, based on the U.S. Census Bureau. Even with a 20% down fee — about $83,840 — consumers would nonetheless must finance roughly $335,000 to purchase a typical residence.
In costly markets like Los Angeles, the place median residence costs can exceed $1 million, a $300,000 funds may not even cowl the down fee. Because of this, consumers in these high-cost areas are sometimes pressured into a lot smaller properties or to look to surrounding suburbs the place costs could be extra manageable.
The examine additionally checked out what $400,000 and $500,000 should buy, with sq. footage comparisons for every state. This is how far varied homebuying budgets go in all 50 U.S. states, listed alphabetically.
Alabama
$300,000: 1,876 sq. ft
$400,000: 2,501 sq. ft
$500,000: 3,126 sq. ft
Value per sq. foot: $160
Alaska
$300,000: 1,137 sq. ft
$400,000: 1,516 sq. ft
$500,000: 1,895 sq. ft
Value per sq. foot: $264
Arizona
$300,000: 985 sq. ft
$400,000: 1,313 sq. ft
$500,000: 1,641 sq. ft
Value per sq. foot: $305
Arkansas
$300,000: 1,781 sq. ft
$400,000: 2,375 sq. ft
$500,000: 2,968 sq. ft
Value per sq. foot: $168
California
$300,000: 641 sq. ft
$400,000: 854 sq. ft
$500,000: 1,068 sq. ft
Value per sq. foot: $468
Colorado
$300,000: 1,245 sq. ft
$400,000: 1,660 sq. ft
$500,000: 2,075 sq. ft
Value per sq. foot: $241
Connecticut
$300,000: 1,143 sq. ft
$400,000: 1,524 sq. ft
$500,000: 1,905 sq. ft
Value per sq. foot: $263
Delaware
$300,000: 1,388 sq. ft
$400,000: 1,850 sq. ft
$500,000: 2,313 sq. ft
Value per sq. foot: $216
Florida
$300,000: 1,244 sq. ft
$400,000: 1,658 sq. ft
$500,000: 2,073 sq. ft
Value per sq. foot: $241
Georgia
$300,000: 1,691 sq. ft
$400,000: 2,254 sq. ft
$500,000: 2,818 sq. ft
Value per sq. foot: $177
Hawaii
$300,000: 443 sq. ft
$400,000: 590 sq. ft
$500,000: 738 sq. ft
Value per sq. foot: $678
Idaho
$300,000: 1,351 sq. ft
$400,000: 1,802 sq. ft
$500,000: 2,252 sq. ft
Value per sq. foot: $222
Illinois
$300,000: 1,591 sq. ft
$400,000: 2,121 sq. ft
$500,000: 2,651 sq. ft
Value per sq. foot: $189
Indiana
$300,000: 1,733 sq. ft
$400,000: 2,310 sq. ft
$500,000: 2,888 sq. ft
Value per sq. foot: $173
Iowa
$300,000: 1,776 sq. ft
$400,000: 2,368 sq. ft
$500,000: 2,960 sq. ft
Value per sq. foot: $169
Kansas
$300,000: 1,894 sq. ft
$400,000: 2,526 sq. ft
$500,000: 3,157 sq. ft
Value per sq. foot: $158
Kentucky
$300,000: 1,721 sq. ft
$400,000: 2,295 sq. ft
$500,000: 2,869 sq. ft
Value per sq. foot: $174
Louisiana
$300,000: 1,587 sq. ft
$400,000: 2,116 sq. ft
$500,000: 2,645 sq. ft
Value per sq. foot: $189
Maine
$300,000: 986 sq. ft
$400,000: 1,314 sq. ft
$500,000: 1,643 sq. ft
Value per sq. foot: $304
Maryland
$300,000: 1,629 sq. ft
$400,000: 2,172 sq. ft
$500,000: 2,715 sq. ft
Value per sq. foot: $184
Massachusetts
$300,000: 593 sq. ft
$400,000: 790 sq. ft
$500,000: 988 sq. ft
Value per sq. foot: $506
Michigan
$300,000: 1,706 sq. ft
$400,000: 2,275 sq. ft
$500,000: 2,843 sq. ft
Value per sq. foot: $176
Minnesota
$300,000: 1,668 sq. ft
$400,000: 2,224 sq. ft
$500,000: 2,780 sq. ft
Value per sq. foot: $180
Mississippi
$300,000: 1,855 sq. ft
$400,000: 2,473 sq. ft
$500,000: 3,092 sq. ft
Value per sq. foot: $162
Missouri
$300,000: 1,704 sq. ft
$400,000: 2,272 sq. ft
$500,000: 2,840 sq. ft
Value per sq. foot: $176
Montana
$300,000: 1,583 sq. ft
$400,000: 2,111 sq. ft
$500,000: 2,638 sq. ft
Value per sq. foot: $190
Ohio
$300,000: 1,529 sq. ft
$400,000: 2,038 sq. ft
$500,000: 2,548 sq. ft
Value per sq. foot: $196
Oklahoma
$300,000: 1,793 sq. ft
$400,000: 2,391 sq. ft
$500,000: 2,988 sq. ft
Value per sq. foot: $167
Oregon
$300,000: 1,017 sq. ft
$400,000: 1,356 sq. ft
$500,000: 1,695 sq. ft
Value per sq. foot: $295
Pennsylvania
$300,000: 1,604 sq. ft
$400,000: 2,139 sq. ft
$500,000: 2,673 sq. ft
Value per sq. foot: $187
Rhode Island
$300,000: 1,171 sq. ft
$400,000: 1,561 sq. ft
$500,000: 1,951 sq. ft
Value per sq. foot: $256
South Carolina
$300,000: 1,550 sq. ft
$400,000: 2,067 sq. ft
$500,000: 2,584 sq. ft
Value per sq. foot: $194
South Dakota
$300,000: 1,493 sq. ft
$400,000: 1,991 sq. ft
$500,000: 2,488 sq. ft
Value per sq. foot: $201
Tennessee
$300,000: 1,617 sq. ft
$400,000: 2,157 sq. ft
$500,000: 2,696 sq. ft
Value per sq. foot: $185
Texas
$300,000: 1,647 sq. ft
$400,000: 2,196 sq. ft
$500,000: 2,746 sq. ft
Value per sq. foot: $182
Utah
$300,000: 1,033 sq. ft
$400,000: 1,377 sq. ft
$500,000: 1,721 sq. ft
Value per sq. foot: $291
Vermont
$300,000: 1,006 sq. ft
$400,000: 1,342 sq. ft
$500,000: 1,677 sq. ft
Value per sq. foot: $298
Virginia
$300,000: 1,290 sq. ft
$400,000: 1,720 sq. ft
$500,000: 2,150 sq. ft
Value per sq. foot: $233
Washington
$300,000: 1,057 sq. ft
$400,000: 1,409 sq. ft
$500,000: 1,762 sq. ft
Value per sq. foot: $284
West Virginia
$300,000: 2,185 sq. ft
$400,000: 2,913 sq. ft
$500,000: 3,641 sq. ft
Value per sq. foot: $137
Wisconsin
$300,000: 1,360 sq. ft
$400,000: 1,813 sq. ft
$500,000: 2,266 sq. ft
Value per sq. foot: $221
Wyoming
$300,000: 1,486 sq. ft
$400,000: 1,982 sq. ft
$500,000: 2,477 sq. ft
Value per sq. foot: $202
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