SEATTLE, April 19, 2021 /PRNewswire/ -- QuoteWizard®, a LendingTree company, and one of the nation's leading online insurance marketplaces released a new report on the increase in U.S. housing costs. These rising costs are making even the average american home more unaffordable. Our team of industry analysts found that over the last decade, the median price of a home is up nearly 70%. The median income, however, is up less than 30% over the same time period.
Key findings:
- Nevada, Idaho and Arizona have the largest disparities between housing costs and income.
- Louisiana, Delaware and New York are the only states that saw wages rise faster than housing costs.
- Median home prices increased from $33,000 to $330,000.
- Median income increased from $5,000 to $27,000.
See the full report here: https://quotewizard.com/news/posts/americas-unaffordable-housing-costs
Housing vs. income |
|||||
Rank |
State |
Change |
Change in |
Difference between |
Difference |
1 |
Nevada |
31.6 |
150.4 |
118.8 |
275,724 |
2 |
Idaho |
27.3 |
145.9 |
118.6 |
298,001 |
3 |
Arizona |
31.9 |
131.2 |
99.3 |
256,945 |
4 |
Washington |
26.5 |
116.3 |
89.8 |
399,313 |
5 |
Michigan |
19.1 |
102.3 |
83.1 |
136,416 |
6 |
Utah |
29.9 |
109.2 |
79.3 |
332,220 |
7 |
Florida |
28.7 |
99.3 |
70.6 |
213,723 |
8 |
Oregon |
29.5 |
99.5 |
70.0 |
341,942 |
9 |
California |
41.1 |
108.2 |
67.1 |
554,560 |
10 |
Colorado |
34.7 |
100.4 |
65.7 |
371,873 |
11 |
Georgia |
28.8 |
88.4 |
59.6 |
166,020 |
12 |
Minnesota |
20.7 |
74.8 |
54.1 |
210,407 |
13 |
Texas |
23.3 |
74.0 |
50.7 |
163,966 |
14 |
New Hampshire |
14.9 |
61.0 |
46.0 |
260,067 |
15 |
Nebraska |
19.2 |
59.8 |
40.6 |
132,771 |
16 |
Missouri |
15.4 |
52.5 |
37.1 |
125,591 |
17 |
Tennessee |
30.4 |
65.6 |
35.2 |
155,929 |
18 |
Wisconsin |
20.9 |
55.4 |
34.5 |
151,832 |
19 |
Montana |
26.8 |
60.8 |
34.0 |
270,847 |
20 |
Maine |
19.9 |
53.0 |
33.1 |
221,076 |
21 |
Indiana |
24.8 |
54.0 |
29.2 |
116,397 |
22 |
South Dakota |
20.5 |
49.4 |
28.9 |
170,467 |
23 |
Rhode Island |
26.9 |
55.7 |
28.7 |
272,831 |
24 |
Oklahoma |
12.5 |
38.8 |
26.4 |
88,551 |
25 |
North Dakota |
15.8 |
42.0 |
26.2 |
175,423 |
26 |
Massachusetts |
34.9 |
59.8 |
24.9 |
395,157 |
27 |
Wyoming |
13.0 |
35.6 |
22.5 |
197,997 |
28 |
Ohio |
32.2 |
54.5 |
22.4 |
111,358 |
29 |
New Mexico |
19.6 |
41.5 |
21.8 |
180,055 |
30 |
South Carolina |
26.6 |
47.9 |
21.3 |
153,773 |
31 |
Iowa |
15.4 |
36.4 |
21.0 |
99,309 |
32 |
Kentucky |
27.3 |
47.3 |
20.0 |
109,705 |
33 |
Alabama |
19.0 |
38.8 |
19.8 |
109,266 |
34 |
Kansas |
24.2 |
43.2 |
19.1 |
106,913 |
35 |
Virginia |
18.3 |
37.0 |
18.7 |
234,544 |
36 |
Maryland |
20.7 |
37.8 |
17.1 |
259,262 |
37 |
North Carolina |
38.0 |
54.0 |
16.0 |
173,659 |
38 |
Pennsylvania |
22.3 |
38.2 |
15.9 |
153,537 |
39 |
West Virginia |
12.2 |
27.0 |
14.8 |
64,150 |
40 |
Arkansas |
25.5 |
39.2 |
13.8 |
93,048 |
41 |
Vermont |
13.3 |
24.0 |
10.7 |
215,999 |
42 |
Illinois |
33.7 |
40.3 |
6.5 |
153,813 |
43 |
New Jersey |
28.6 |
32.2 |
3.6 |
296,249 |
44 |
Mississippi |
25.0 |
28.6 |
3.6 |
89,208 |
45 |
Hawaii |
47.7 |
47.9 |
0.2 |
605,898 |
46 |
Connecticut |
22.7 |
22.5 |
-0.2 |
215,167 |
47 |
Alaska |
18.6 |
16.1 |
-2.4 |
212,537 |
48 |
Louisiana |
30.7 |
22.4 |
-8.2 |
128,927 |
49 |
Delaware |
43.3 |
33.2 |
-10.1 |
214,824 |
50 |
New York |
51.2 |
40.1 |
-11.2 |
280,892 |
-- |
United States |
28.8 |
69.7 |
40.9 |
248,288 |
About QuoteWizard QuoteWizard (quotewizard.com) is an insurance comparison marketplace for consumers looking to save on insurance. QuoteWizard provides consumers with direct access to thousands of qualified agents in all 50 states, as well as major carriers, who offer personalized quotes and the opportunity to save up to 40% on auto, home, health, and life insurance. Agents and carriers, in turn, benefit from millions of highly qualified leads, calls, and traffic to their site. Based in Seattle, QuoteWizard was founded in 2006.
For more information, go to quotewizard.com, like our Facebook page and/or follow us on Twitter @quotewizard.
Media Contacts:
Emily: [email protected]
Nathan: [email protected]
Elli: [email protected]
SOURCE QuoteWizard
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