How Much Home You Can Buy for $300,000 in Every State

GOBankingRates answers the question on home buyers' minds: "How much home can I afford where I live?"

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May 12, 2017, 07:15 ET

LOS ANGELES, May 12, 2017 /PRNewswire/ -- In a recent study, GOBankingRates examined how much home you can buy for $300,000 in each U.S. state and the District of Columbia. The findings reveal that your money can buy nearly 3,500 sq. ft. in some states but just more than 600 sq. ft in others. Potential home buyers can look for their desired location in the article linked below to see if they've adequately saved for their dream house.

Latest GOBankingRates Study examines how much home you can buy for $300,000 in each state.

To find this information, GOBankingRates researched the median property listing price in every state and the District of Columbia. Each listing price was divided by $300,000 to arrive at the median list price per square foot.

For more details on the study, visit: https://www.gobankingrates.com/mortgage-rates/much-home-can-buy-every-state/

States That Buy the Most Square Footage for $300,000:

Indiana: 3,478 Square Feet
Mississippi: 3,402 Square Feet
Arkansas: 3,390 Square Feet
Ohio: 3,366 Square Feet
West Virginia: 3,360 Square Feet
Alabama: 3,256 Square Feet
Oklahoma: 3,175 Square Feet
Kansas: 3,053 Square Feet
Missouri: 3,051 Square Feet
Georgia: 3,020 Square Feet

States That Buy the Least Square Footage for $300,000:

District of Columbia: 603 Square Feet
Hawaii: 625 Square Feet
California: 1,066 Square Feet
Massachusetts: 1,327 Square Feet
Colorado: 1,471 Square Feet
Oregon: 1,588 Square Feet
Rhode Island: 1,634 Square Feet
New York: 1,664 Square Feet
Washington: 1,694 Square Feet
Montana: 1,779 Square Feet

Additional Insights:

In the 10 most affordable states to buy a home, you can expect to pay $99 or less per square foot for houses in the $300,000 price range.
Indiana was the least expensive state to buy a house at approximately $86 per square foot. The District of Columbia and Hawaii are the most expensive at $497 and $480 per square foot, respectively.

About GOBankingRates

GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money, to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us here.

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SOURCE GOBankingRates