Here is the salary you need to allow you a house in the 10 cheapest states
Sean Pavone / Louisiana
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Housing prices have increased, increasing the income required for home ownership by 49.5% since 2020: Bankrate
Two -thirds of states have increased the necessary income of more than 50%; Utah leads with an increase of 89%.
But some states, such as Ohio, Alabama and Missouri, are even more affordable.
Buying a house has become much more difficult from the pandemic.
The prices of houses that have been increasing throughout the country since 2020, the average household income necessary to buy a house at the median national price increased by 49.5%, according to a new report from Bankrate.
About two -thirds of the States have increased in the required income by more than 50%. Utah comes first with an increase of 89% in the past five years, according to the report.
But on an absolute basis, some household revenues required to buy the average house are still quite reasonable, well below the American average of $ 116,986 – which buys a house of $ 418,489.
However, given the national increase in the national income to buy a house, the report listed some tips to enter the market, such as improving your credit scoring to guarantee a lower mortgage rate; Discover the aid aid programs; Watch cheaper options like condos; And while simply waiting to be in a better financial situation.
You will find below the 10 states with the lowest household income necessary to buy the house at median state prices, classified in decreasing order, according to the Bankrate study. The increase in income required since 2020 is also included, as is the median price of houses and its monthly mortgage payment.
10. Alabama
Sean Pavone / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 77,262
Increase at 5 years of the salary required: 49.4%
Monthly mortgage payment, January 2025: $ 1,471
Median house prices, January 2025: $ 278,600
9. Louisiana
Sean Pavone / Louisiana
Salary required to buy a house at a median price, January 2025: $ 76,145
Increase at 5 years of the salary required: 26.0%
Monthly mortgage payment, January 2025: $ 1,328
Median house prices, January 2025: $ 251,500
8. Missouri
Joe Daniel Price / Getty Images
Salary required to buy a house at a median price, January 2025: $ 74,263
Increase at 5 years of the salary required: 45.9%
Monthly mortgage payment, January 2025: $ 1,356
Median house prices, January 2025: $ 256,900
7. Michigan
Downtown Detroit.
Kirby Lee / Getty images
Salary required to buy a house at a median price, January 2025: $ 74,228
Increase at 5 years of the salary required: 43.8%
Monthly mortgage payment, January 2025: $ 1,319
Median house prices, January 2025: $ 249,800
6. Arkansas
Sean Pavone / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 73,330
Increase at 5 years of the salary required: 57.2%
Monthly mortgage payment, January 2025: $ 1 351
Median house prices, January 2025: $ 255,900
5. Indiana
Sean Pavone / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 72,342
Increase at 5 years of the salary required: 65.3%
Monthly mortgage payment, January 2025: $ 1,363
Median house prices, January 2025: $ 258,100
4. Mississippi
The Mississippi Capitol in Jackson, Mississippi.
Chad Robertson Media / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 72,072
Increase at 5 years of the salary required: 48.5%
Monthly mortgage payment, January 2025: $ 1,304
Median house prices, January 2025: $ 246,900
3. Ohio
Dayton, Ohio
Laura McKenzie Waters / Getty Images
Salary required to buy a house at a median price, January 2025: $ 71,080
Increase at 5 years of the salary required: 51.9%
Monthly mortgage payment, January 2025: $ 1,257
Median house prices, January 2025: $ 238,000
2. Iowa
Jacob Boomsma / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 70,437
Increase at 5 years of the salary required: 42.8%
Monthly mortgage payment, January 2025: $ 1,211
Median house prices, January 2025: $ 229,400
1. Virginie-Western
The average life expectancy in Virginia-Western is 71.0 years.
Firepphotography1 / Shutterstock
Salary required to buy a house at a median price, January 2025: $ 64,179