With a budget of $300,000, you can purchase a modest home in most parts of the United States. This amount can cover around 1,500 square feet in homes across 25 states, which is approximately half of the country. To determine how much house you can afford with a $300,000 budget, GOBankingRates analyzed data from the Federal Reserve of St. Louis to find the median listing price per square foot of homes in the U.S. The housing cost index for each state was considered, along with the price per square foot. Additionally, calculations were made for budgets of $400,000 and $500,000.
One interesting finding is that West Virginia is the only state where $300,000 can buy over 2,000 square feet of home (2,185 square feet). Conversely, Hawaii ranked lowest in terms of square footage, with $300,000 only affording 443 square feet, less than the size of an average studio apartment.
The cost per square foot tends to be higher in states with a high cost of living compared to those with lower costs. The variation between the most expensive state, Hawaii at $678 per square foot, and the least expensive, West Virginia at $167, is $511.
Overall, the amount of house you can buy with a $300,000 budget varies across states, with some states offering less than 1,000 square feet for that amount. These states include Maine, Arizona, New Jersey, New York, California, Massachusetts, and Hawaii.
If you’re interested in exploring more details about home affordability in different states, the article provides insights and comparisons for various budgets in states like West Virginia, Kansas, Alabama, Mississippi, Oklahoma, Arkansas, and Iowa.
Here is a revised version of the text:
Indiana
– Square feet for $300,000: 1,733
– Square feet for $400,000: 2,310
– Square feet for $500,000: 2,888
– Price per square foot: $173
– Housing cost-of-living index: 77.3
Kentucky
– Square feet for $300,000: 1,721
– Square feet for $400,000: 2,295
– Square feet for $500,000: 2,869
– Price per square foot: $174
– Housing cost-of-living index: 77.8
Michigan
– Square feet for $300,000: 1,706
– Square feet for $400,000: 2,275
– Square feet for $500,000: 2,843
– Price per square foot: $176
– Housing cost-of-living index: 78.5
Missouri
– Square feet for $300,000: 1,704
– Square feet for $400,000: 2,272
– Square feet for $500,000: 2,840
– Price per square foot: $176
– Housing cost-of-living index: 78.6
Georgia
– Square feet for $300,000: 1,691
– Square feet for $400,000: 2,255
– Square feet for $500,000: 2,818
– Price per square foot: $177
– Housing cost-of-living index: 79.2
Nebraska
– Square feet for $300,000: 1,685
– Square feet for $400,000: 2,246
– Square feet for $500,000: 2,808
– Price per square foot: $178
– Housing cost-of-living index: 79.5
North Dakota
– Square feet for $300,000: 1,678
– Square feet for $400,000: 2,238
– Square feet for $500,000: 2,797
– Price per square foot: $179
– Housing cost-of-living index: 79.8
Minnesota
– Square feet for $300,000: 1,668
– Square feet for $400,000: 2,224
– Square feet for $500,000: 2,780
– Price per square foot: $180
– Housing cost-of-living index: 80.3
Texas
– Square feet for $300,000: 1,647
– Square feet for $400,000: 2,196
– Square feet for $500,000: 2,746
– Price per square foot: $182
– Housing cost-of-living
Below is a revised version of the text:
1. Carolina
– 300,000: 1,550 sq ft
– 400,000: 2,067 sq ft
– 500,000: 2,584 sq ft
– Price per sq ft: $194
– Housing cost-of-living index: 86.4
2. Ohio
– 300,000: 1,529 sq ft
– 400,000: 2,038 sq ft
– 500,000: 2,548 sq ft
– Price per sq ft: $196
– Housing cost-of-living index: 87.6
3. South Dakota
– 300,000: 1,493 sq ft
– 400,000: 1,991 sq ft
– 500,000: 2,488 sq ft
– Price per sq ft: $201
– Housing cost-of-living index: 89.7
4. Wyoming
– 300,000: 1,486 sq ft
– 400,000: 1,982 sq ft
– 500,000: 2,477 sq ft
– Price per sq ft: $202
– Housing cost-of-living index: 90.1
5. North Carolina
– 300,000: 1,401 sq ft
– 400,000: 1,868 sq ft
– 500,000: 2,335 sq ft
– Price per sq ft: $214
– Housing cost-of-living index: 95.6
6. Delaware
– 300,000: 1,388 sq ft
– 400,000: 1,850 sq ft
– 500,000: 2,313 sq ft
– Price per sq ft: $216
– Housing cost-of-living index: 96.5
7. Wisconsin
– 300,000: 1,360 sq ft
– 400,000: 1,813 sq ft
– 500,000: 2,266 sq ft
– Price per sq ft: $221
– Housing cost-of-living index: 98.5
8. Idaho
– 300,000: 1,351 sq ft
– 400,000: 1,802 sq ft
– 500,000: 2,252 sq ft
– Price per sq ft: $222
– Housing cost-of-living index: 99.1
9. Virginia
– 300,000: 1,290 sq ft
– 400,000: 1,720 sq ft
– 500,000: 2,150 sq ft
– Price per sq ft: $233
– Housing cost-of-living index: 103.8
10. Nevada
41. Utah
– 1,033 square feet for $300,000
– 1,377 square feet for $400,000
– 1,721 square feet for $500,000
– Price per square foot: $291
– Housing cost-of-living index: 129.7
42. Oregon
– 1,017 square feet for $300,000
– 1,356 square feet for $400,000
– 1,695 square feet for $500,000
– Price per square foot: $295
– Housing cost-of-living index: 131.7
43. Vermont
– 1,006 square feet for $300,000
– 1,342 square feet for $400,000
– 1,677 square feet for $500,000
– Price per square foot: $298
– Housing cost-of-living index: 133.1
44. Maine
– 986 square feet for $300,000
– 1,315 square feet for $400,000
– 1,644 square feet for $500,000
– Price per square foot: $304
– Housing cost-of-living index: 135.8
45. Arizona
– 985 square feet for $300,000
– 1,313 square feet for $400,000
– 1,641 square feet for $500,000
– Price per square foot: $305
– Housing cost-of-living index: 136
46. New Jersey
– 969 square feet for $300,000
– 1,292 square feet for $400,000
– 1,615 square feet for $500,000
– Price per square foot: $310
– Housing cost-of-living index: 138.2
47. New York
– 787 square feet for $300,000
– 1,049 square feet for $400,000
– 1,311 square feet for $500,000
– Price per square foot: $381
– Housing cost-of-living index: 170.2
48. California
– 641 square feet for $300,000
– 854 square feet for $400,000
– 1,068 square feet for $500,000
– Price per square foot: $468
– Housing cost-of-living index: 209.1
49. Massachusetts
– 593 square feet for $300,000
– 790 square feet for $400,000
– 988 square feet for $500,000
– Price per square foot: $506
– Housing cost-of-living index: 226
50. Hawaii
– 443 square feet for $300,000
– 590 square feet for $400,000
– 738 square feet for $500,
