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The Most (and Least) Valuable States in America


Everyone knows location is the most important part of real estate. You can’t change where your house ... and they happen to be some of the smallest states in the Union (Rhode Island, Connecticut, and New Jersey). Median home values (the red circles ...


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Exact matches only Search in title Search in content Search in comments Search in excerpt Filter by Custom Post Type { "homeurl": "http://rismedia.com/", "resultstype": "vertical", "resultsposition": "hover", "itemscount": 4, "imagewidth": 70, "imageheight": 70, "resultitemheight": "auto", "showauthor": 0, "showdate": 0, "showdescription": 1, "charcount": 3, "noresultstext": "No results!", "didyoumeantext": "Did you mean:", "defaultImage": "http://rismedia.com/wp-content/plugins/ajax-search-pro/img/default.jpg", "highlight": 0, "highlightwholewords": 1, "openToBlank": 0, "scrollToResults": 0, "resultareaclickable": 1, "autocomplete": { "enabled": 1, "googleOnly": 1, "lang": "en", "mobile": 1 }, "triggerontype": 1, "triggeronclick": 1, "triggeronreturn": 1, "triggerOnFacetChange": 1, "trigger": { "delay": 300, "autocomplete_delay": 310 }, "overridewpdefault": 0, "override_method": "post", "redirectonclick": 0, "redirectClickTo": "results_page", "redirect_on_enter": 0, "redirectEnterTo": "results_page", "redirect_url": "?s={phrase}", "settingsimagepos": "left", "settingsVisible": 0, "hresulthidedesc": "0", "prescontainerheight": "400px", "pshowsubtitle": "0", "pshowdesc": "1", "closeOnDocClick": 1, "iifNoImage": "description", "iiRows": 2, "iiGutter": 5, "iitemsWidth": 200, "iitemsHeight": 200, "iishowOverlay": 1, "iiblurOverlay": 1, "iihideContent": 1, "loaderLocation": "auto", "analytics": 0, "analyticsString": "", "show_more": { "url": "?s={phrase}", "action": "ajax" }, "mobile": { "trigger_on_type": 1, "trigger_on_click": 1, "hide_keyboard": 0 }, "compact": { "enabled": 1, "width": "200px", "closeOnMagnifier": 1, "closeOnDocument": 0, "position": "fixed", "overlay": 0 }, "animations": { "pc": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "fadeInDown" }, "mob": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "voidanim" } }, "autop": { "state": "disabled", "phrase": "", "count": 10 } } Home News Buying/Selling Consumer Luxury National Spotlights Best Practices Agent Broker Coaching Lead Gen Teams Marketing Agent Best Practices Branding Broker Niche Technology Agent Apps/Gadgets Best Practices Broker Innovation Social Media Business Insights Content Generation Marketing Trends Advice Buying/Selling For Your Clients Home Improvement How-To Lifestyle Events RISMedia CEO Exchange RISMedia’s Power Broker Forum at the NAR REALTORS® Legislative Meetings & Trade Expo RISMedia’s 22nd Annual Power Broker Forum, Reception & Dinner Subscribe Realtor® Courses Shop   Select Page The Most (and Least) Valuable States in America Share This Post Now! Editor’s Note: This was originally published on RISMedia’s blog, HousecallSee what else is cookin’ now at blog.rismedia.com: San Francisco: The Sweet Spot for Trick-or-Treaters Jeff Bezos May Seek HQ2 Close to Home Home Haunted? No Problem, New Survey Shows Everyone knows location is the most important part of real estateYou can’t change where your house is (all things being equal)You have to consider school districts, crime rates, commute times—the list goes on and onIt can be much simpler when you’re considering buying a home to compare apples to apples so you can see how the real estate market differs according to location, so HowMuch.net created a new visualization showing land and housing prices at a glance. Content Square 1. The blue dots represent the value of an acre of land, and the red circles indicate the median value of a homeThe bigger the blue dot and the larger the red circle, the more expensive it is to become a property ownerSmall circles and dots likewise indicate a very low cost of purchasing propertyThe home values are from the U.S. Census Bureau’s 2015 American Consumer Survey, and the numbers behind the land values come from the Bureau of Economic Analysis. Several things stand out in the illustrationAn acre of land is much more valuable in the Northeast compared to any other part of the countryThis is partly because the Eastern seaboard is a very densely populated area with several large cities, most notably New YorkNew York and Massachusetts have some of the oldest modern structures anywhere in the U.SIn other words, Eastern cities are a lot older than Midwestern cities, so there isn’t a lot of farmland for suburban expansion anymoreIn terms of geographic size, these are some of the smallest states in the countryAs a matter of fact, the three states where the cost of an acre of land is greater than the median price of a house are all located on the East Coast, and they happen to be some of the smallest states in the Union (Rhode Island, Connecticut, and New Jersey). Median home values (the red circles) are a different and more complicated storyCalifornia has the most expensive houses by far ($449,100)Oregon and Washington boast similarly high housing valuations, as well ($264,100 and $284,000, respectively)It is also expensive to buy a home on the East Coast, with six out of the top 10 states with the most expensive median home values Content Square 2. There’s a noticeable dip in both housing and land prices in Southern and Midwestern statesPrices slowly rise the further you move from east to westThis highlights unique economic developments over the last several years, including the boom in oil exploration in North Dakota and the growth of Western cities, like Denver, thanks to young peopleSnowbirds also tend to move to Florida and Arizona when they retire, which also pushes up housing prices in those places. Top 5 Most Expensive States to Buy a Home California Value per Acre: $39,092 Median Home Value: $449,100 Massachusetts Value per Acre: $102,214 Median Home Value: $352,100 New Jersey Value per Acre: $196,410 Median Home Value: $322,600 Maryland Value per Acre: $75,429 Median Home Value: $299,800 New York Value per Acre: $41,314 Median Home Value: $293,500 Top 5 Cheapest States to Buy a Home Content Square 3. West Virginia Value per Acre: $10,537 Median Home Value: $112,100 Mississippi Value per Acre: $5,565 Median Home Value: $112,700 Arkansas Value per Acre: $6,739 Median Home Value: $120,700 Oklahoma Value per Acre: $7,364 Median Home Value: $126,800 Kentucky Value per Acre: $7,209 Median Home Value: $130,000 All this shows that the laws of supply and demand are alive and well in the real estate marketYou can easily find cheap acres of land where they are plentiful and un-useful (sorry, Nevada), but owning property is a lot more expensive in smaller places crowded with lots of peopleAs always: location, location, location. A version of this article originally appeared on HowMuch.net. For the latest real estate news and trends, bookmark RISMedia.com. Facebook Comments How Much Can You Deduct for Business Gifts? A$25; B$20; C$35; D$30Answer: AYou are allowed to deduct up to $25 for business-related expenses. Track your deductions with QuickBooks Prime Square Trending Don’t Leave the Buyer Side on the TableThe Most (and Least) Valuable States in AmericaFrom Agent to Broker: 4 Decisions to Consider‘Hottest Zip Codes’: A Tale of Three StatesDiverse Roads Lead to Opportunity in Real EstateHonoring the Exceptional and Extraordinary: RISMedia’s Power Broker Reception & DinnerRock Your Fourth Quarter If this tag is to be placed on an SSL page, change the * 'http://openx.rismedia.com/www/delivery/...' * to * 'https://openx.rismedia.com/www/delivery/...' * * This noscript section of this tag only shows image bannersThere * is no width or height in these banners, so if you want these tags to * allocate space for the ad before it shows, you will need to add this * information to the tag. * * If you do not want to deal with the intricities of the noscript * section, delete the tag (from ..to )On * average, the noscript tag is called from less than 1% of internet * users. */--> "); // ]]><a href='http://openx.rismedia.com/www/delivery/ck.php?n=abcfd64a&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://openx.rismedia.com/www/delivery/avw.php?zoneid=115&cb=INSERT_RANDOM_NUMBER_HERE&n=abcfd64a' border='0' alt=' /></a> --> Bottom Leader Board goes here. 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