Save Money, Buy in Arkansas

While some states are full of homes that are prohibitively expensive (I'm looking at you, California), Arkansas offers some of the most affordable housing stock in the country! In fact, data from the U.S. Census Bureau’s 2015 American Consumer Survey shows that Arkansas was one of the three least-expensive states in terms of home prices in that year. Coupled with inexpensive land, this makes Arkansas a great place to put down roots!

The numbers from the Consumer Survey show a stark difference in median home values across the country. At one end of the scale, the most expensive homes by far were, of course, located in California, where the median home stood at $449,100. On the other hand, Arkansas ranked as the third-least expensive state in which to buy, with a median home costing just $120,700. Here were the top and bottom three states:

Top 3 Most Expensive States to Buy a Home

1. California - Median Home Value: $449,100

2. Massachusetts - Median Home Value: $352,100

3. New Jersey - Median Home Value: $322,600

Top 3 Least Expensive States to Buy a Home

1. West Virginia - Median Home Value: $112,100

2. Mississippi - Median Home Value: $112,700

3. Arkansas - Median Home Value: $120,700

In addition to inexpensive homes, Arkansas also has cheap land, with the average acre coming in at less than $7,000 from 2000-2009. Meanwhile, a typical acre of land was worth over $39,000 in California during that time and well over $100,000 in small Northeastern states such as New Jersey, Connecticut, and Rhode Island! Believe it or not, an acre of land was often worth more than a house in these states!

Source: Howmuch.net