12 states where home buyers have the most purchasing power
September 8, 2017 10:42 AM
Home prices can vary throughout a given state, driven largely by the geography of the state and its population centers. Here's a look at the 12 states where the combination of prices and wages offer home buyers the best bang for the buck.
The data, from the First American Real House Price Index, measures home price changes, taking local wages and mortgage rates into account "to better reflect consumers' purchasing power and capture the true cost of housing." The June 2017 data is ranked by RHPI value, where a reading of 100 is equal to conditions in January 2000.
The data, from the First American Real House Price Index, measures home price changes, taking local wages and mortgage rates into account "to better reflect consumers' purchasing power and capture the true cost of housing." The June 2017 data is ranked by RHPI value, where a reading of 100 is equal to conditions in January 2000.
Kenneth Keifer/Kenneth Keifer - stock.adobe.com
No. 12: Indiana
Median Sales Price: $156,500*
Real Home Price Index: 66.7
Year-Over-Year RHPI Change: 7.2%
*Home price data from Indiana Association of Realtors
Real Home Price Index: 66.7
Year-Over-Year RHPI Change: 7.2%
*Home price data from Indiana Association of Realtors
Charles Knowles/knowlesgallery - stock.adobe.com
No. 11: Missouri
Median Sales Price: $135,000
Real Home Price Index: 66.4
Year-Over-Year RHPI Change: 3.2%
Real Home Price Index: 66.4
Year-Over-Year RHPI Change: 3.2%
Christian Hinkle/Christian Hinkle - stock.adobe.com
No. 10: Louisiana
Median Sales Price: $179,000
Real Home Price Index: 66.3
Year-Over-Year RHPI Change: 8.1%
Real Home Price Index: 66.3
Year-Over-Year RHPI Change: 8.1%
ANTHONY HEFLIN/aheflin - stock.adobe.com
No. 9: North Carolina
Median Sales Price: $190,000
Real Home Price Index: 66.3
Year-Over-Year RHPI Change: 6.2%
Real Home Price Index: 66.3
Year-Over-Year RHPI Change: 6.2%
Picasa/lspi138 - stock.adobe.com
No. 8: New Hampshire
Median Sales Price: $244,933
Real Home Price Index: 62.7
Year-Over-Year RHPI Change: 6.0%
Real Home Price Index: 62.7
Year-Over-Year RHPI Change: 6.0%
Jim - stock.adobe.com
No. 7: Oklahoma
Median Sales Price: $152,500
Real Home Price Index: 61.4
Year-Over-Year RHPI Change: 3.6%
Real Home Price Index: 61.4
Year-Over-Year RHPI Change: 3.6%
Steven Frame/sframe - stock.adobe.com
No. 6: Arkansas
Median Sales Price: $154,000
Real Home Price Index: 61.1
Year-Over-Year RHPI Change: 2.5%
Real Home Price Index: 61.1
Year-Over-Year RHPI Change: 2.5%
Jesse Kunerth - stock.adobe.com
No. 5: Iowa
Median Sales Price: $166,000
Real Home Price Index: 60.9
Year-Over-Year RHPI Change: 9.6%
Real Home Price Index: 60.9
Year-Over-Year RHPI Change: 9.6%
Jim Vallee/Jim Vallee - stock.adobe.com
No. 4: Alabama
Median Sales Price: $155,000
Real Home Price Index: 57.5
Year-Over-Year RHPI Change: 4.3%
Real Home Price Index: 57.5
Year-Over-Year RHPI Change: 4.3%
Carbonbrain - stock.adobe.com
No. 3: Nebraska
Median Sales Price: $180,000
Real Home Price Index: 56.5
Year-Over-Year RHPI Change: 4.9%
Real Home Price Index: 56.5
Year-Over-Year RHPI Change: 4.9%
ehrlif - stock.adobe.com
No. 2: Kentucky
Median Sales Price: $166,500
Real Home Price Index: 55.6
Year-Over-Year RHPI Change: 6.1%
Real Home Price Index: 55.6
Year-Over-Year RHPI Change: 6.1%
PAMELA BURLEY/aceshot - stock.adobe.com
No. 1: Ohio
Median Sales Price: $149,900
Real Home Price Index: 55.4
Year-Over-Year RHPI Change: 8.7%
Real Home Price Index: 55.4
Year-Over-Year RHPI Change: 8.7%
