The U.S. experienced a major housing boom in 2020, as record low mortgage rates and the growing practice of working from home increased demand for housing from millennials and Gen Xers.. As of the beginning of 2021, home values had increased more than 9% year over year, the largest increase since 2006, according to real estate data company Zillow.
The median size of a home in the U.S. was 1,482 square feet as of March 2021, and the median value was $240,500. Many homebuyers, of course, are opting for less expensive homes, closer to the $200,000 range. While there are $200,000 homes in almost any part of the country, the median size of such a house can differ from nearly 2,000 square feet in one state to half that size in another.
Home prices in Missouri tend to be very low, with a median home value of $168,000. Prospective homebuyers in the state who want to spend around $200,000 on a home can expect to buy a house that is around 1,494 square feet. Among states, that is the 16th largest median size of homes in that price range.
Homes in Missouri tend to be much smaller than the typical U.S. home. The median Missouri house is 1,492 square feet, compared to a median of 1,620 square feet nationwide.
To determine how much home you can buy for $200,000 in every state, 24/7 Wall St. reviewed data on median square footage by home value from real estate database company Zillow. The data reflects the median square footage for all homes with a value between $190,000 and $210,000 and is current as of March 2021. This is how much home you can buy for $200k in every state.
|State||Median size for homes worth around $200,000 (sq. ft)||Rank||Median home value ($)||Median household income ($)|