Pennsylvania is among the top 20 cheapest states for homebuyers to find a new abode in.
They did this by first using median home value and median household income data to figure out much a household’s income paid the monthly mortgage. They then parsed this out by each state in order to deduce affordability.was therefore able to rank Pennsylvania as the number 16 overall cheapest state to buy a house in in the U.S. with an average home price of $180,200 and an estimated monthly mortgage of $856.15, allowing for it to sit snugly amongst the top 20.
“This Midwestern state is the largest producer of corn in the country, and its miles of farmland are a testament to that. Still, there are plenty of big cities to live in, too. The largest housing markets in Iowa include Des Moines, Iowa City, and Cedar Rapids.” The most expensive state to buy a home in is Hawaii with average home prices set at $615,300 and monthly mortgage payments at a whopping $2,923.36.
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