Wait, Illinois is Really the Cheapest State to Buy a Home in US?
I know there's data to allegedly prove this, but this doesn't sound right. A brand new study says that if you want to find the cheapest state in America to buy a home, you better be looking in Illinois. Is the Land of Lincoln really the affordability capital of the US?
I saw this article shared by The Hill which is based on a study done by Studio City realtors. It lists the most expensive states like Hawaii and California and also the most affordable. Guess who's #1 for house buying affordability?
Spoiler Alert - It's Illinois
Here's what The Hill article said (exact words):
The cheapest state nationwide was Illinois, where the monthly median sale price of a house last year was $133,750.
I know in the smaller Illinois towns that you can find affordable homes and likely better than many parts of the country, but Chicago is still considered a part of Illinois, right?
For the record, Missouri wasn't that far behind in this list either coming in with an average median home price under $200,000. That's still a ton of money to me. How about you?
The entire breakdown of housing prices across America is interesting if you'd like to check out The Hill article.
So Illinois is the home of affordable houses? There's a new fact I'll have to digest even though it still doesn't sound quite right to me.