Not a meme or anything, so I’m not quite sure where else to post this. It’s been floating around since early this year, and I thought it was interesting to see and speculate about why certain states are so high/low right now.
If I could find the source of the data, I would’ve posted it to /c/dataisbeautiful, but without it I’d rather share it somewhere more casual.
Is it me or is the key of the map a bit off? Why are Wyoming and Arizona red when there’s yellow states with higher prices? Why is Hawaii the only one in purple when it isn’t even the most expensive? What the hell happened to New Jersey?
New Jersey got priced out of the market.
Good point
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What’s the median housing price? The average is usually distorted by the ultra wealthy.
I know currently NH median is 525k. Heard it on the radio the other day
This is a good point. The big cities are full of super expensive multimillion dollar homes.
Yea, New York is probably more like PA if you pull NYC and Saratoga areas out.
Good grief… My house cost 89k when I got it 15 years ago it’s crazy that prices have gone up this much in such a short time!
Often times to you see stuff about how out of touch someone is because they were able to get there house for X but these increases mean increased taxes and if its not freestanding you have to worry about the association dues. I would love to live in city center but even during housing crashes its barely affordable and the moment it recovers I would lose my shelter. My neighbors will talk about valuation going up as a good thing and im like. Hey im not selling im living here so I would just as soon have it stagnate or just go up relative to infaltion.
I don’t know how it is everywhere…but in my area, the amount your property taxes increase each year is capped by a certain amount if the place you own is your primary residence. So no, people that bought their homes 10 years ago are not experiencing the same dramatic increase in housing prices as newer homebuyers. Sure, things like HOA dues increases are uncapped, but property tax increases are limited. But again, this is just my area. I am not aware of the regulations everywhere.
I think there is something like that if your old enough near me and yeah even then the tax increase is not as steep as the rent I think but all the same I don’t get why folks would want their place to go up in value a lot if they are living there assuming the tax will go up with price.
We paid 70k for our house 5 years ago. It’s now valued around 140k. It’s crazy to think that’s it’s doubled in this short of a time because we live in a rural area.
Don’t forget to throw inflation in there too, which is equivalent to $130k now. Everything over that shows how much houses have outpaced inflation.
And now that you know that you can respect how nearly impossible it is for people who are just starting out to get a new home.
You (and me too) were able to take advantage of the 2008 housing market crash. We need another one to give people a chance.
Jesus fucking Christ.
Kinda fucky. Wyoming is red (317k) while Maine is orange (400k)?
Yeah and not sure why Hawaii is purple when it’s less than California
I’m pretty sure this map is already out of date… The shitbox bungalow across the street from me, which has been twice sold to property investors since the pandemic and currently appears to be a failed AirBNB, just got listed (again) for $475k. Around $100k more than that map shows. And about $175k more than what it sold for the first time.
Sure, averages are averages and one data point doesn’t mean much. But I can’t find much of anything in my state even listed at the average price indicated on that map, let alone aggregate enough properties to make the average actually reflect that number which would require a significant number of them to be listed below that figure. And they’re not. The cheapest listing I can find in my county is $375k. There are a handful of run-down uninhabitable properties in the inner city showing for below $300k That’s about it.
The good news I can see is, at least according to Zillow, these properties are now spending a significant amount of time on the market, i.e. nobody including corporate investors are actually willing to pay those prices for them anymore. That, or nobody wants a loan because interest rates are ridiculous.
Average house price by state, but what on earth happened to new jersey in this?
I soaked it in wood glue and ate it.
A lot of these I understand, but wtf is going on in Tennessee??? Not an area I think about anyone wanting to move to.
You know there are two major American cities there?
I mean there are major American cities in a lot of the states with lower average home prices on the map. I didn’t know Nashville was that popping.
The Nashville area is huge and draws a lot of people and businesses.
Did they actually lump New Jersey in as part of New York? Because it sure looks like they did.
Yeah the shape is all wrong :(
CA: 🤦🏻♂️
I’m only slightly surprised that we are more expensive than Hawaii. The price of everything else is more expensive there though.
I need everyone to ignore this and keep Ohio home prices low
You can keep Ohio.
Yea, they say that like Ohio won’t keep prices low in Ohio
For Ohio, that’s either out of date or including a lot of outliers. Average range is 250-350K, with new builds going about 500K because fuck you.
2005-2010’ish you could see houses go for a little over 100k
That’s right so yall just stay the fuck away from Cleveland
Why so low in the mitten state? Is it a lasting effect of the 2008 Detroit carmageddon?
Nah. Shit’s way more expensive where I live.
I live in CA, and that price is way below the average of any large or desirable city not located way inland.
I’m tired, Lemmy…
