{"id":112322,"date":"2021-04-16T19:13:45","date_gmt":"2021-04-16T19:13:45","guid":{"rendered":"https:\/\/fin2me.com\/?p=112322"},"modified":"2021-04-16T19:13:45","modified_gmt":"2021-04-16T19:13:45","slug":"how-much-home-you-can-buy-for-200k-in-every-state","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/how-much-home-you-can-buy-for-200k-in-every-state\/","title":{"rendered":"How Much Home You Can Buy for 200K in Every State"},"content":{"rendered":"<p><span>The U.S. experienced a m<\/span><span>ajor housing boo<\/span><span>m in 2020, as record-low mortgage rates and the growing practice of working from home increased demand for housing from millennials and Gen Xers. As of the beginning of 2021, home values had increased m<\/span><span>ore than 9% year over ye<\/span><span>ar, the largest increase since 2006, according to real estate data company Zillow.\u00a0<\/span><\/p>\n<p><span>The median size of a home in the U.S. was 1,482 square feet as of March 2021, and the median value was $240,500. Many homebuyers, of course, are opting for less expensive homes, closer to the $200,000 range. While there are $200,000 homes in almost any part of the country, the median size of such a house can differ from nearly 2,000 square feet in one state to half that size in another.<\/span><\/p>\n<p><span>To determine how much home you can buy for $200,000 in every state, 24\/7 Wall St. reviewed data on median square footage by home value from <\/span><span>real estate database company Zillow<\/span><span>.\u00a0<\/span><\/p>\n<p><span>Housing prices in a given state tend to reflect what the residents of that area can afford. In states with relatively low incomes, $200,000 homes are much larger than homes at that price in more affluent states. In each of America\u2019s five wealthiest states, most $200,000 homes are less than 1,300 sq. ft. Yet in the country\u2019s five least wealthy states, the median size of a $200,000 home is well above 1,700 sq. ft. <\/span><span>These are America\u2019s richest and poorest states.<\/span><\/p>\n<p><span>Homes generally increase in value over time, and buying a home is a good way to build wealth. Homeowners, however, must keep in mind all the extra costs that come with homeownership &#8212; costs like maintenance, utilities and other bills, and property taxes. States tax homeowners anywhere between 0.4% and 2.1% of their home\u2019s value in aggregate property taxes, typically adding up to thousands of dollars per year to household costs. <\/span><span>These are the states with the highest and lowest property taxes.<\/span><\/p>\n<p><span><strong>Click here to see how much home you can buy for 200k in every state.<\/strong><\/span><br \/>\n<span><strong>Click here to see our detailed methodology.<\/strong><\/span><\/p>\n<p>Source: <a href=\"https:\/\/247wallst.com\/special-report\/2021\/04\/16\/how-much-home-you-can-buy-for-200k-in-every-state-3\/\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. experienced a major housing boom in 2020, as record-low mortgage rates and the growing practice of working from home increased demand for housing [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":112321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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