Buying a home is one of the most important milestones someone might make in their adult life – and it can be one of the most expensive. Besides initial home prices, the homeowner has to contend with heating and cooling costs, regular maintenance, and sometimes unexpected repairs. Therefore, having a little wiggle room in the budget can be critical to owning a home and not having the home own you.
But is it possible to create that wiggle room where you live, or is the cost of the average home too close to the average income? We explore both, gleaning data from Zillow on the average price of a three-bedroom home as of March 2017, and the Bureau of Labor Statistics’ May 2018 occupational employment and wage estimates. Read on to see how your state fares compared to the rest.
(Louisiana, Maryland, and Vermont are missing from this list. There was not enough home value data for this time frame to include them.)
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48. West Virginia
- Cost of a three-bedroom home: $104,200
- Annual Mean Wage: $42,370
- The average three-bedroom home costs 2.46 times the annual mean wage
Image Credit: DepositPhotos.com.
47. Oklahoma
- Cost of a three-bedroom home: $115,600
- Annual Mean Wage: $44,220
- The average three-bedroom home costs 2.61 times the annual mean wage
Image Credit: DepositPhotos.com.
46. Alabama
- Cost of a three-bedroom home: $119,300
- Annual Mean Wage: $43,790
- The average three-bedroom home costs 2.72 times the annual mean wage
Image Credit: RobHainer/istockphoto.
45. Mississippi
- Cost of a three-bedroom home: $119,900
- Annual Mean Wage: $39,420
- The average three-bedroom home costs 3.04 times the annual mean wage
Image Credit: stevegeer.
44. Ohio
- Cost of a three-bedroom home: $121,400
- Annual Mean Wage: $48,220
- The average three-bedroom home costs 2.52 times the annual mean wage
Image Credit: Courtesy of Six Acres Bed & Breakfast.
43. Indiana
- Cost of a three-bedroom home: $125,800
- Annual Mean Wage: $45,290
- The average three-bedroom home costs 2.78 times the annual mean wage
Image Credit: ChrisBoswell / iStock.
42. Kansas
- Cost of a three-bedroom home: $130,600
- Annual Mean Wage: $45,280
- The average three-bedroom home costs 2.88 times the annual mean wage
Image Credit: Atchison, Kansas by Tim Kiser (CC BY).
41. Kentucky
- Cost of a three-bedroom home: $132,500
- Annual Mean Wage: $43,210
- The average three-bedroom home costs 3.07 times the annual mean wage
Image Credit: Jacqueline Nix / iStock.
40. Arkansas
- Cost of a three-bedroom home: $137,200
- Annual Mean Wage: $41,540
- The average three-bedroom home costs 3.30 times the annual mean wage
Image Credit: BlazenImages/istockphoto.
39. Arizona
- Cost of a three-bedroom home: $141,100
- Annual Mean Wage: $49,290
- The average three-bedroom home costs 2.86 times the annual mean wage
Image Credit: Courtesy of vrbo.com.
38. Georgia
- Cost of a three-bedroom home: $142,800
- Annual Mean Wage: $48,280
- The average three-bedroom home costs 2.96 times the annual mean wage
Image Credit: Sean Pavone/istockphoto.
37. Missouri
- Cost of a three-bedroom home: $146,500
- Annual Mean Wage: $46,460
- The average three-bedroom home costs 3.15 times the annual mean wage
Image Credit: DepositPhotos.com.
36. Iowa
- Cost of a three-bedroom home: $147,400
- Annual Mean Wage: $46,150
- The average three-bedroom home costs 3.19 times the annual mean wage
Image Credit: DepositPhotos.com.
35. North Carolina
- Cost of a three-bedroom home: $150,700
- Annual Mean Wage: $47,200
- The average three-bedroom home costs 3.19 times the annual mean wage
Image Credit: Sean Pavone/istockphoto.
34. South Carolina
- Cost of a three-bedroom home: $150,900
- Annual Mean Wage: $43,210
- The average three-bedroom home costs 3.49 times the annual mean wage
Image Credit: f11photo/shutterstock.
33. Nebraska
- Cost of a three-bedroom home: $151,300
- Annual Mean Wage: $46,710
- The average three-bedroom home costs 3.24 times the annual mean wage
Image Credit: Courtesy of wikimedia.org.
32. New York
- Cost of a three-bedroom home: $152,800
- Annual Mean Wage: $61,870
- The average three-bedroom home costs 2.47 times the annual mean wage
Image Credit: DenisTangneyJr/istockphoto.
31. Texas
- Cost of a three-bedroom home: $152,900
- Annual Mean Wage: $49,720
- The average three-bedroom home costs 3.08 times the annual mean wage
Image Credit: iStock.
30. Pennsylvania
- Cost of a three-bedroom home: $154,500
- Annual Mean Wage: $50,030
- The average three-bedroom home costs 3.09 times the annual mean wage
Image Credit: Pottsville, PA by JasonParis (CC BY).
29. Tennessee
- Cost of a three-bedroom home: $155,100
- Annual Mean Wage: $44,660
- The average three-bedroom home costs 3.47 times the annual mean wage
Image Credit: Swarmcatcher.
28. Michigan
- Cost of a three-bedroom home: $162,100
- Annual Mean Wage: $49,510
- The average three-bedroom home costs 3.27 times the annual mean wage
Image Credit: Zillow.com.
27. Illinois
- Cost of a three-bedroom home: $171,400
- Annual Mean Wage: $53,790
- The average three-bedroom home costs 3.19 times the annual mean wage
Image Credit: IanDikhtiar.
26. South Dakota
- Cost of a three-bedroom home: $171,500
- Annual Mean Wage: $41,800
- The average three-bedroom home costs 4.10 times the annual mean wage
Image Credit: SiouxCityStPaticksDayParade/facebook.com.
25. Wisconsin
- Cost of a three-bedroom home: $172,500
- Annual Mean Wage: $47,350
- The average three-bedroom home costs 3.64 times the annual mean wage
Image Credit: goodneighborcity/facebook.com.
24. New Mexico
- Cost of a three-bedroom home: $184,200
- Annual Mean Wage: $45,400
- The average three-bedroom home costs 4.06 times the annual mean wage
Image Credit: Courtesy of Sante Fe Indian Market Website.
23. Idaho
- Cost of a three-bedroom home: $196,600
- Annual Mean Wage: $43,480
- The average three-bedroom home costs 4.52 times the annual mean wage
Image Credit: knowlesgallery/istockphoto.
22. Florida
- Cost of a three-bedroom home: $201,000
- Annual Mean Wage: $46,010
- The average three-bedroom home costs 4.37 times the annual mean wage
Image Credit: DepositPhotos.com.
21. Virginia
- Cost of a three-bedroom home: $209,900
- Annual Mean Wage: $55,310
- The average three-bedroom home costs 3.79 times the annual mean wage
Image Credit: Sean Pavone / iStock.
20. Delaware
- Cost of a three-bedroom home: $210,100
- Annual Mean Wage: $53,320
- The average three-bedroom home costs 3.94 times the annual mean wage
Image Credit: DenisTangneyJr/istockphoto.
19. Minnesota
- Cost of a three-bedroom home: $214,800
- Annual Mean Wage: $54,200
- The average three-bedroom home costs 3.96 times the annual mean wage
Image Credit: depositphotos.com.
18. Montana
- Cost of a three-bedroom home: $219,100
- Annual Mean Wage: $43,860
- The average three-bedroom home costs 5.00 times the annual mean wage
Image Credit: DianeBentleyRaymond/istockphoto.
17. Maine
- Cost of a three-bedroom home: $221,400
- Annual Mean Wage: $46,810
- The average three-bedroom home costs 4.73 times the annual mean wage
Image Credit: iStock.
16. North Dakota
- Cost of a three-bedroom home: $222,600
- Annual Mean Wage: $49,620
- The average three-bedroom home costs 4.49 times the annual mean wage
Image Credit: Courtesy of tripadvisor.com.
15. Connecticut
- Cost of a three-bedroom home: $224,000
- Annual Mean Wage: $60,780
- The average three-bedroom home costs 3.69 times the annual mean wage
Image Credit: Zillow.com.
14. Wyoming
- Cost of a three-bedroom home: $225,200
- Annual Mean Wage: $48,630
- The average three-bedroom home costs 4.63 times the annual mean wage
Image Credit: AnujSahaiPhotography.
13. Nevada
- Cost of a three-bedroom home: $226,100
- Annual Mean Wage: $46,170
- The average three-bedroom home costs 4.90 times the annual mean wage
Image Credit: Getty.
12. Rhode Island
- Cost of a three-bedroom home: $249,200
- Annual Mean Wage: $54,810
- The average three-bedroom home costs 4.55 times the annual mean wage
Image Credit: ThomHartwick / iStock.
11. New Hampshire
- Cost of a three-bedroom home: $253,500
- Annual Mean Wage: $52,350
- The average three-bedroom home costs 4.84 times the annual mean wage
Image Credit: DenisTangneyJr.
10. Utah
- Cost of a three-bedroom home: $262,500
- Annual Mean Wage: $47,920
- The average three-bedroom home costs 5.48 times the annual mean wage
Image Credit: ” 4kodiak”.
9. Oregon
- Cost of a three-bedroom home: $298,400
- Annual Mean Wage: $52,000
- The average three-bedroom home costs 5.74 times the annual mean wage
Image Credit: DepositPhotos.com.
8. Alaska
- Cost of a three-bedroom home: $316,800
- Annual Mean Wage: $58,710
- The average three-bedroom home costs 5.40 times the annual mean wage
Image Credit: Chilkoot/istockphoto.
7. Washington
- Cost of a three-bedroom home: $324,400
- Annual Mean Wage: $59,410
- The average three-bedroom home costs 5.46 times the annual mean wage
Image Credit: iStock.
6. New Jersey
- Cost of a three-bedroom home: $343,400
- Annual Mean Wage: $58,210
- The average three-bedroom home costs 5.90 times the annual mean wage
Image Credit: DepositPhotos.com.
5. Massachusetts
- Cost of a three-bedroom home: $349,300
- Annual Mean Wage: $63,910
- The average three-bedroom home costs 5.47 times the annual mean wage
Image Credit: DepositPhotos.com.
4. Colorado
- Cost of a three-bedroom home: $329,900
- Annual Mean Wage: $55,820
- The average three-bedroom home costs 5.91 times the annual mean wage
Image Credit: arinahabich / iStock.
3. California
- Cost of a three-bedroom home: $467,500
- Annual Mean Wage: $59,150
- The average three-bedroom home costs 7.90 times the annual mean wage
Image Credit: DepositPhotos.com.
2. District of Columbia
- Cost of a three-bedroom home: $581,800
- Annual Mean Wage: $87,920
- The average three-bedroom home costs 6.62 times the annual mean wage
Image Credit: iStock.
1. Hawaii
- Cost of a three-bedroom home: $605,800
- Annual Mean Wage: $52,900
- The average three-bedroom home costs 11.45 times the annual mean wage
This article originally appeared on UpturnCredit.com and was syndicated by MediaFeed.org.
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