Investing

How Big a House $200K Can Get You in Every State

benedek / iStock via Getty Images

The median home sale price in the U.S. fell by 13% in the first half of 2023, down from an all-time high of $479,500 at the end of 2022. While the housing market appears to have improved some for homebuyers, mortgage rates remain at historic highs. Following a series Federal Reserve rate hikes, the average interest rate on a 30 year fixed rate mortgage has been above 6% since September 2022, the highest it has been in nearly a decade and a half. (This is how the highest mortgage rate in decades compares to the last 25 years.)

Higher borrowing costs are forcing many homebuyers to reevaluate their budgets and consider exactly how much house they can afford. Still, in some parts of the country, even a relatively modest housing budget goes a lot further than in others. 

Using data from the Federal Reserve Bank of St. Louis, 24/7 Wall St. calculated the size of a house you can buy with $200,000 in every state. States were ranked by the approximate square footage of a $200,000 home, from the smallest to the largest. Calculations were made using median home list price per square foot as of March 2023. Data on median home value, median number of rooms per house, and median household income is from the U.S. Census Bureau’s 2021 American Community Survey.

Depending on the state, the approximate size of a typical $200,000 home ranges from 300 square feet (about the size of two parking spaces) to 1,600 square feet. The states where $200,000 can get more of a house are often places where home values are relatively low across the board. Meanwhile, states where virtually nothing sells for $200,000 are those with some of the most expensive real estate in the country. 

For example, in the state where homebuyers can get the largest house on a $200,000 budget, the typical home is worth $143,200. The state at the other end of the spectrum, meanwhile, has a median home value of $722,500. (Here is a look at the American cities with the most million-dollar homes.)

As home prices rose during the pandemic, the typical size of a $200,000 home declined in much of the country – by well over 10% in some states in the last year. There are exceptions, however. In nine states, $200,000 goes further now than it did a year ago. These include states like California and New York, where people are moving out far faster than they are moving in. 

Click here to see how much home you can buy for $200k in each state.

Source: Art Wager / E+ via Getty Images

50. Hawaii
> Approx. size of a $200k house: 300 sq. ft. (4.7% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $666
> Median home value, 2021: $722,500 (the highest of the 50 states)
> Median number of rooms per house, 2021: 4.7
> Median household income, 2021: $84,857 (6th highest of the 50 states)

[in-text-ad]

Source: choness / iStock via Getty Images

49. California
> Approx. size of a $200k house: 461 sq. ft. (4.6% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $434
> Median home value, 2021: $648,100 (2nd highest of the 50 states)
> Median number of rooms per house, 2021: 5.1
> Median household income, 2021: $84,907 (5th highest of the 50 states)

Source: DenisTangneyJr / E+ via Getty Images

48. Massachusetts
> Approx. size of a $200k house: 498 sq. ft. (0.2% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $402
> Median home value, 2021: $480,600 (4th highest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $89,645 (2nd highest of the 50 states)

Source: TomasSereda / iStock via Getty Images

47. New York
> Approx. size of a $200k house: 524 sq. ft. (1.8% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $382
> Median home value, 2021: $368,800 (12th highest of the 50 states)
> Median number of rooms per house, 2021: 5.0
> Median household income, 2021: $74,314 (14th highest of the 50 states)

[in-text-ad-2]

Source: Sean Pavone / iStock via Getty Images

46. Rhode Island
> Approx. size of a $200k house: 625 sq. ft. (7.8% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $320
> Median home value, 2021: $348,100 (13th highest of the 50 states)
> Median number of rooms per house, 2021: 5.4
> Median household income, 2021: $74,008 (15th highest of the 50 states)

Source: peeterv / iStock via Getty Images

45. Montana
> Approx. size of a $200k house: 629 sq. ft. (7.2% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $318
> Median home value, 2021: $322,800 (17th highest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $63,249 (16th lowest of the 50 states)

[in-text-ad]

44. Washington
> Approx. size of a $200k house: 631 sq. ft. (2.5% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $317
> Median home value, 2021: $485,700 (3rd highest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $84,247 (7th highest of the 50 states)

Source: jbentley09 / iStock via Getty Images

43. Oregon
> Approx. size of a $200k house: 662 sq. ft. (2.0% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $302
> Median home value, 2021: $422,700 (6th highest of the 50 states)
> Median number of rooms per house, 2021: 5.4
> Median household income, 2021: $71,562 (18th highest of the 50 states)

Source: DenisTangneyJr / iStock via Getty Images

42. New Hampshire
> Approx. size of a $200k house: 699 sq. ft. (10.8% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $286
> Median home value, 2021: $345,200 (14th highest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $88,465 (4th highest of the 50 states)

[in-text-ad-2]

Source: Kruck20 / iStock via Getty Images

41. Colorado
> Approx. size of a $200k house: 699 sq. ft. (1.4% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $286
> Median home value, 2021: $466,200 (5th highest of the 50 states)
> Median number of rooms per house, 2021: 5.8
> Median household income, 2021: $82,254 (9th highest of the 50 states)

Source: SeanPavonePhoto / iStock via Getty Images

40. Florida
> Approx. size of a $200k house: 727 sq. ft. (1.8% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $275
> Median home value, 2021: $290,700 (21st highest of the 50 states)
> Median number of rooms per house, 2021: 5.2
> Median household income, 2021: $63,062 (15th lowest of the 50 states)

[in-text-ad]

39. New Jersey
> Approx. size of a $200k house: 746 sq. ft. (1.5% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $268
> Median home value, 2021: $389,800 (8th highest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $89,296 (3rd highest of the 50 states)

Source: knowlesgallery / iStock via Getty Images

38. Idaho
> Approx. size of a $200k house: 755 sq. ft. (9.4% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $265
> Median home value, 2021: $369,300 (11th highest of the 50 states)
> Median number of rooms per house, 2021: 5.9
> Median household income, 2021: $66,474 (24th lowest of the 50 states)

Source: JeffreyRasmussen / iStock via Getty Images

37. Arizona
> Approx. size of a $200k house: 763 sq. ft. (0.8% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $262
> Median home value, 2021: $336,300 (15th highest of the 50 states)
> Median number of rooms per house, 2021: 5.4
> Median household income, 2021: $69,056 (20th highest of the 50 states)

[in-text-ad-2]

Source: vishwats / iStock via Getty Images

36. Connecticut
> Approx. size of a $200k house: 775 sq. ft. (3.9% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $258
> Median home value, 2021: $311,500 (18th highest of the 50 states)
> Median number of rooms per house, 2021: 5.6
> Median household income, 2021: $83,771 (8th highest of the 50 states)

Source: f11photo / iStock via Getty Images

35. Nevada
> Approx. size of a $200k house: 787 sq. ft. (3.1% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $254
> Median home value, 2021: $373,000 (9th highest of the 50 states)
> Median number of rooms per house, 2021: 5.3
> Median household income, 2021: $66,274 (23rd lowest of the 50 states)

[in-text-ad]

Source: Sean Pavone / iStock via Getty Images

34. Utah
> Approx. size of a $200k house: 803 sq. ft. (4.0% larger than 1 yr. ago)
> Median list price per sq. ft., March 2023: $249
> Median home value, 2021: $421,700 (7th highest of the 50 states)
> Median number of rooms per house, 2021: 6.4
> Median household income, 2021: $79,449 (11th highest of the 50 states)

Source: SeanPavonePhoto / iStock via Getty Images

33. Maine
> Approx. size of a $200k house: 803 sq. ft. (12.9% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $249
> Median home value, 2021: $252,100 (25th highest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $64,767 (19th lowest of the 50 states)

Source: Jacob Boomsma / iStock via Getty Images

32. Alaska
> Approx. size of a $200k house: 851 sq. ft. (7.7% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $235
> Median home value, 2021: $304,900 (19th highest of the 50 states)
> Median number of rooms per house, 2021: 4.9
> Median household income, 2021: $77,845 (12th highest of the 50 states)

[in-text-ad-2]

Source: SeanPavonePhoto / iStock via Getty Images

31. Vermont
> Approx. size of a $200k house: 855 sq. ft. (10.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $234
> Median home value, 2021: $271,500 (23rd highest of the 50 states)
> Median number of rooms per house, 2021: 5.6
> Median household income, 2021: $72,431 (16th highest of the 50 states)

Source: DenisTangneyJr / iStock via Getty Images

30. Delaware
> Approx. size of a $200k house: 893 sq. ft. (6.7% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $224
> Median home value, 2021: $300,500 (20th highest of the 50 states)
> Median number of rooms per house, 2021: 6.3
> Median household income, 2021: $71,091 (19th highest of the 50 states)

[in-text-ad]

Source: Kruck20 / iStock via Getty Images

29. Tennessee
> Approx. size of a $200k house: 913 sq. ft. (8.2% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $219
> Median home value, 2021: $235,200 (22nd lowest of the 50 states)
> Median number of rooms per house, 2021: 5.8
> Median household income, 2021: $59,695 (10th lowest of the 50 states)

Source: DenisTangneyJr / iStock via Getty Images

28. Maryland
> Approx. size of a $200k house: 913 sq. ft. (4.1% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $219
> Median home value, 2021: $370,800 (10th highest of the 50 states)
> Median number of rooms per house, 2021: 6.3
> Median household income, 2021: $90,203 (the highest of the 50 states)

Source: ferrantraite / E+ via Getty Images

27. Virginia
> Approx. size of a $200k house: 952 sq. ft. (4.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $210
> Median home value, 2021: $330,600 (16th highest of the 50 states)
> Median number of rooms per house, 2021: 6.1
> Median household income, 2021: $80,963 (10th highest of the 50 states)

[in-text-ad-2]

Source: Kruck20 / iStock via Getty Images

26. North Carolina
> Approx. size of a $200k house: 966 sq. ft. (2.9% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $207
> Median home value, 2021: $236,900 (23rd lowest of the 50 states)
> Median number of rooms per house, 2021: 5.6
> Median household income, 2021: $61,972 (12th lowest of the 50 states)

Source: Gian Lorenzo Ferretti Photography / E+ via Getty Images

25. Minnesota
> Approx. size of a $200k house: 980 sq. ft. (14.2% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $204
> Median home value, 2021: $285,400 (22nd highest of the 50 states)
> Median number of rooms per house, 2021: 6.1
> Median household income, 2021: $77,720 (13th highest of the 50 states)

[in-text-ad]

Source: peeterv / iStock via Getty Images

24. South Dakota
> Approx. size of a $200k house: 1,010 sq. ft. (9.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $198
> Median home value, 2021: $219,900 (17th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.0
> Median household income, 2021: $66,143 (22nd lowest of the 50 states)

Source: JamesBrey / E+ via Getty Images

23. Wisconsin
> Approx. size of a $200k house: 1,026 sq. ft. (9.7% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $195
> Median home value, 2021: $230,700 (20th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.6
> Median household income, 2021: $67,125 (22nd highest of the 50 states)

Source: Sean Pavone / iStock via Getty Images

22. South Carolina
> Approx. size of a $200k house: 1,058 sq. ft. (8.5% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $189
> Median home value, 2021: $213,500 (15th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $59,318 (9th lowest of the 50 states)

[in-text-ad-2]

Source: Sean Pavone / iStock via Getty Images

21. New Mexico
> Approx. size of a $200k house: 1,064 sq. ft. (12.2% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $188
> Median home value, 2021: $214,000 (16th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.4
> Median household income, 2021: $53,992 (6th lowest of the 50 states)

Source: dibrova / iStock via Getty Images

20. Texas
> Approx. size of a $200k house: 1,081 sq. ft. (4.9% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $185
> Median home value, 2021: $237,400 (24th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.4
> Median household income, 2021: $66,963 (23rd highest of the 50 states)

[in-text-ad]

Source: DenisTangneyJr / E+ via Getty Images

19. Wyoming
> Approx. size of a $200k house: 1,099 sq. ft. (12.1% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $182
> Median home value, 2021: $266,400 (24th highest of the 50 states)
> Median number of rooms per house, 2021: 5.8
> Median household income, 2021: $65,204 (20th lowest of the 50 states)

Source: pabradyphoto / iStock via Getty Images

18. Iowa
> Approx. size of a $200k house: 1,111 sq. ft. (10.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $180
> Median home value, 2021: $174,400 (7th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.0
> Median household income, 2021: $65,600 (21st lowest of the 50 states)

Source: SeanPavonePhoto / iStock via Getty Images

17. Georgia
> Approx. size of a $200k house: 1,111 sq. ft. (3.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $180
> Median home value, 2021: $249,700 (25th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.0
> Median household income, 2021: $66,559 (25th highest of the 50 states)

[in-text-ad-2]

Source: Davel5957 / iStock via Getty Images

16. Nebraska
> Approx. size of a $200k house: 1,143 sq. ft. (12.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $175
> Median home value, 2021: $204,900 (14th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.1
> Median household income, 2021: $66,817 (24th highest of the 50 states)

Source: DenisTangneyJr / iStock via Getty Images

15. Pennsylvania
> Approx. size of a $200k house: 1,163 sq. ft. (2.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $172
> Median home value, 2021: $222,300 (18th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.1
> Median household income, 2021: $68,957 (21st highest of the 50 states)

[in-text-ad]

Source: JaySi / iStock via Getty Images

14. Illinois
> Approx. size of a $200k house: 1,163 sq. ft. (0.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $172
> Median home value, 2021: $231,500 (21st lowest of the 50 states)
> Median number of rooms per house, 2021: 5.6
> Median household income, 2021: $72,205 (17th highest of the 50 states)

Source: RudyBalasko / iStock via Getty Images

13. Michigan
> Approx. size of a $200k house: 1,220 sq. ft. (4.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $164
> Median home value, 2021: $199,100 (13th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.9
> Median household income, 2021: $63,498 (17th lowest of the 50 states)

Source: Art Wager / iStock via Getty Images

12. Missouri
> Approx. size of a $200k house: 1,235 sq. ft. (7.4% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $162
> Median home value, 2021: $198,300 (12th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $61,847 (11th lowest of the 50 states)

[in-text-ad-2]

Source: Davel5957 / E+ via Getty Images

11. Oklahoma
> Approx. size of a $200k house: 1,250 sq. ft. (16.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $160
> Median home value, 2021: $168,500 (4th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $55,826 (8th lowest of the 50 states)

Source: Sean Pavone / iStock via Getty Images

10. Alabama
> Approx. size of a $200k house: 1,274 sq. ft. (10.8% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $157
> Median home value, 2021: $172,800 (5th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.8
> Median household income, 2021: $53,913 (5th lowest of the 50 states)

[in-text-ad]

Source: Sean Pavone / iStock via Getty Images

9. Kentucky
> Approx. size of a $200k house: 1,282 sq. ft. (9.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $156
> Median home value, 2021: $173,300 (6th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $55,573 (7th lowest of the 50 states)

Source: Sean Pavone / iStock via Getty Images

8. Kansas
> Approx. size of a $200k house: 1,290 sq. ft. (18.7% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $155
> Median home value, 2021: $183,800 (10th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.0
> Median household income, 2021: $64,124 (18th lowest of the 50 states)

Source: rruntsch / iStock via Getty Images

7. North Dakota
> Approx. size of a $200k house: 1,316 sq. ft. (10.5% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $152
> Median home value, 2021: $224,400 (19th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $66,519 (25th lowest of the 50 states)

[in-text-ad-2]

Source: Sean Pavone / iStock via Getty Images

6. Louisiana
> Approx. size of a $200k house: 1,316 sq. ft. (5.3% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $152
> Median home value, 2021: $192,800 (11th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $52,087 (3rd lowest of the 50 states)

Source: Sean Pavone / iStock via Getty Images

5. Indiana
> Approx. size of a $200k house: 1,351 sq. ft. (8.1% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $148
> Median home value, 2021: $182,400 (9th lowest of the 50 states)
> Median number of rooms per house, 2021: 5.9
> Median household income, 2021: $62,743 (14th lowest of the 50 states)

[in-text-ad]

Source: DenisTangneyJr / iStock via Getty Images

4. Arkansas
> Approx. size of a $200k house: 1,351 sq. ft. (15.5% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $148
> Median home value, 2021: $162,300 (3rd lowest of the 50 states)
> Median number of rooms per house, 2021: 5.5
> Median household income, 2021: $52,528 (4th lowest of the 50 states)

Source: pawel.gaul / E+ via Getty Images

3. Ohio
> Approx. size of a $200k house: 1,493 sq. ft. (7.5% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $134
> Median home value, 2021: $180,200 (8th lowest of the 50 states)
> Median number of rooms per house, 2021: 6.0
> Median household income, 2021: $62,262 (13th lowest of the 50 states)

Source: SeanPavonePhoto / iStock via Getty Images

2. Mississippi
> Approx. size of a $200k house: 1,515 sq. ft. (12.1% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $132
> Median home value, 2021: $145,600 (2nd lowest of the 50 states)
> Median number of rooms per house, 2021: 5.7
> Median household income, 2021: $48,716 (the lowest of the 50 states)

[in-text-ad-2]

Source: Sean Pavone / iStock via Getty Images

1. West Virginia
> Approx. size of a $200k house: 1,600 sq. ft. (13.6% smaller than 1 yr. ago)
> Median list price per sq. ft., March 2023: $125
> Median home value, 2021: $143,200 (the lowest of the 50 states)
> Median number of rooms per house, 2021: 5.9
> Median household income, 2021: $51,248 (2nd lowest of the 50 states)

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.