The Most Expensive States to Actually Buy a House

home with for sale sign

A “for sale” sign in front of a home | Joe Raedle/Getty Images

If you’re in the market to buy a house, you’d better be prepared to fight for it. A shortage of homes for sale in many markets is contributing to record-high real estate prices across the country. Many buyers are finding it difficult, if not impossible, to find properties for sale in their price range, according to research from the National Association of Realtors.

“Home prices have ascended far past wage growth in much of the country in recent years because not enough homeowners are selling and home builders have not boosted production enough to meet rising demand,” said Lawrence Yun, the association’s chief economist.

The affordability problem is particularly acute in the West. Hawaii, California, and Oregon were among the least affordable states for buyers, according to National Association of Realtors research. As a result, home ownership rates are stuck at near-record lows, as younger people and those with lower income are shut out of the housing market.

“This shortfall of inventory at a time of healthy job gains in most states is one of the biggest reasons for the depressed share of first-time buyers and the inability for the home ownership rate to rise above its near-record low,” Yun said. “The only prescription to reversing this adverse situation is to build more entry-level and mid-market housing that aligns with current household incomes.”

A look at average home prices in different states gives an idea of where it’s hardest for people to get a foot in the real estate market. But purchase price isn’t the only expense buyers face. Closing costs add another $2,128 to the price of the average home, according to Bankrate.

To find out what it really costs to buy a house, we looked at Bankrate’s data on both median home price and average closing costs to determine the 13 most expensive states in the U.S. to become a homeowner. We’ve also included some information on what kind of home you can expect to get for the average selling price in that state.

Home listings from Zillow as of Feb. 17, 2017. Estimated mortgage payments assume a 20% down payment.

13. Oregon

home for sale

A home for sale in The Dalles, Oregon | Craig Mitchelldyer/Getty Images

  • Median home price: $249,000
  • Average closing costs: $2,156
  • Total cost: $251,156

What you can get: A three-bedroom, two-bath home in Springfield, just outside of Eugene. The home is for sale for $249,000 and would come with a $943 per month mortgage.

12. Utah

Utah

A neighborhood in Utah | George Frey/Getty Images

  • Median home price: $250,000
  • Average closing costs: $1,967
  • Total cost: $251,967

What you can get: A five-bedroom, three-bath home in Springville, outside of Provo, for $249,900. The 2,500-square-foot house was built in 1999, and the estimated mortgage is $946 per month.

11. Nevada

las vegas subdivision

A subdivision in Las Vegas | Joe Klamar/AFP/GettyImages

  • Median home price: $250,000
  • Average closing costs: $1,994
  • Total cost: $251,994

What you can get: A five-bedroom, three-bath for $250,000 in Las Vegas. A $946 monthly mortgage gets you a home with a granite countertops in the kitchen and a private master bedroom balcony.

10. New Jersey

hoboken sign

Hoboken, New Jersey | Michael Bocchieri/Getty Images

  • Median home price: $260,000
  • Average closing costs: $2,168
  • Total cost: $262,168

What you can get: A three-bed, three-bath house on the waterfront in Little Egg Harbor Township. The Jersey Shore home, which also has a gazebo and two decks, is for sale for $259,900. The estimated mortgage is $985 per month.

9. Rhode Island

Providence, Rhode Island

Providence, Rhode Island | iStock.com/Sean Pavone

  • Median home price: $264,000
  • Average closing costs: $2,076
  • Total cost: $266,076

What you can get: A three-bedroom, two-bath home in West Warwick. The raised ranch has had only one owner, was built in 2011, and is for sale for $263,500 (estimated mortgage: $998/month).

8. Maryland

annapolis, maryland

Annapolis, Maryland | Jim Watson/AFP/Getty Images

  • Median home price: $268,000
  • Average closing costs: $2,229
  • Total cost: $270,229

What you can get: A one-bed, one-bath, 778-square-foot condo in Rockville for $266,000. The building features a pool, gym, and party room. It is close to public transit and walking distance to bars and restaurants. The estimated mortgage is $1,019.

7. Connecticut

beach

A beach in Westport, Connecticut | Spencer Platt/Getty Images

  • Median home price: $269,000
  • Average closing costs: $2,313
  • Total cost: $271,313

What you can get: A three-bedroom, two-bath colonial in Windsor. The 2,000-square-foot, 1986 home is for sale for $264,900 and comes with a mortgage payment of $1,003 per month.

6. New York

rockaway, queens homes for sale

Homes for sale in the Rockaway neighborhood of Queens in New York City | John Moore/Getty Images

  • Median home price: $275,000
  • Average closing costs: $2,560
  • Total cost: $277,560

What you can get: A three-bedroom, two-bath split-level house in Rocky Point. The home on Long Island was built in 1970 and has features, including a fireplace and master bedroom with attached bath.

5. Colorado

homes in colorado

Homes in Greeley, Colorado | Chris Hondros/Getty Images

  • Median home price: $285,000
  • Average closing costs: $1,990
  • Total cost: $286,990

What you can get: A three-bedroom, two-bath new construction home in Milliken, a town between Fort Collins and Denver. The $284,400 home has an open floor plan. Estimated mortgage is $1,077 per month.

4. Massachusetts

aerial view of the Charles River, Massachusetts State House

Boston | iStock.com/GrandviewGraphics

  • Median home price: $350,000
  • Average closing costs: $2,773
  • Total cost: $352,773

What you can get: A three-bedroom, two-bath condo in Salem for $349,900. The unit is in a 19th-century building in the heart of town, close to the waterfront, and has hardwood floors and in-unit laundry.

3. California

Model home

A model home in California | Justin Sullivan/Getty Images

  • Median home price: $389,000
  • Average closing costs: $2,257
  • Total cost: $391,257

What you can get: A three-bedroom, two-bath manufactured home for $389,000 in Carpinteria, near Santa Barbara. The 1,512-square-foot-home was built in 2016 and is minutes from the Pacific coast. The estimated mortgage is $1,473 per month.

2. Hawaii

Canoers train on the Ala Wai canal in the Waikiki neighborhood of Honolulu

Canoers train on the Ala Wai canal in the Waikiki neighborhood of Honolulu | Nicholas Kamm/AFP/Getty Images

  • Median home price: $520,000
  • Average closing costs: $2,655
  • Total cost: $522,655

What you can get: A two-bedroom, two-bath condo in Honolulu for $519,000. The unit, built in 1974, has water views and is blocks from Waikiki and other beaches. Estimated mortgage is $1,977 per month.

1. District of Columbia

washington dc neighborhood

A neighborhood in Washington, D.C. | Chip Somodevilla/Getty Images

  • Median home price: $549,000
  • Average closing costs: $2,213
  • Total cost: $551,213

What you can get: A two-bedroom, two-bath condo in a building built in 1942. The $547,000 property in Georgetown has park views. The estimated mortgage is $2,128 per month.

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