Buying a home is the biggest purchase millions of Americans make in their lifetimes. Within a given market, a higher price tag generally corresponds with a larger house. However, real estate markets vary by region, and depending on the location, larger homes that can accommodate growing families differ markedly in price — from very affordable to outside the reach of the typical American family.
More than just a place to live, a home is also an investment. Real property in the United States generally appreciates in value over time, and as a result, homeownership is one of the most practical ways to build wealth over the long term. Though the U.S. homeownership rate tumbled down to 62.9% in 2016 from a high of nearly 70% before the housing bubble burst in 2008, it is starting to inch upwards again.
For the growing number of Americans looking to buy a home, there are many considerations to make before taking out a six-figure mortgage. But the place where one can get the most space for one’s money is likely a leading consideration for a large share of investors and families alike.
24/7 Wall St. reviewed data provided by real estate data company Zillow to determine how large a home $200,000 can buy in every state. Zillow’s data reflects the median square footage of homes worth between $190,000 and $210,000 in each state. In parts of the country with higher costs of living, $200,000 is only enough to buy a home the size of a studio apartment — or less. In other parts, $200,000 can get the buyer a home around 50% larger than the typical 1,800 square foot American home.
Due to data limitations, we did not include Vermont in our analysis.
Click here to see how much home you can buy for $200k in every state.
Correction: In a previous version of this article, overall cost of living in each state relative to the country as a whole was not correctly adjusted to the most recent available year. The error has been corrected.
Source: Allard1 / Getty Images
1. Alabama
> Typical size of a $200k home: 2,060 sq. feet (tied – 4th most)
> Median home value per sq. foot: $75 (2nd lowest)
> Median home value: $141,300 (7th lowest)
> Overall cost of living: 13.4% less than avg.
See all stories featuring: Alabama
[in-text-ad]
Source: volvob12b / Flickr
2. Alaska
> Typical size of a $200k home: 1,290 sq. feet (15th least)
> Median home value per sq. foot: $186 (10th highest)
> Median home value: $273,100 (12th highest)
> Overall cost of living: 5.4% more than avg.
See all stories featuring: Alaska
24/7 Wall St.
Source: miroslav_1 / iStock
3. Arizona
> Typical size of a $200k home: 1,600 sq. feet (tied – 18th most)
> Median home value per sq. foot: $149 (23rd highest)
> Median home value: $223,400 (20th highest)
> Overall cost of living: 4.1% less than avg.
See all stories featuring: Arizona
Source: BlazenImages / Getty Images
4. Arkansas
> Typical size of a $200k home: 2,100 sq. feet (2nd most)
> Median home value per sq. foot: $78 (4th lowest)
> Median home value: $128,500 (3rd lowest)
> Overall cost of living: 13.1% less than avg.
See all stories featuring: Arkansas
[in-text-ad-2]
Source: choness / Getty Images
5. California
> Typical size of a $200k home: 1,280 sq. feet (tied – 14th least)
> Median home value per sq. foot: $354 (2nd highest)
> Median home value: $509,400 (2nd highest)
> Overall cost of living: 14.4% more than avg.
See all stories featuring: California
Source: Creative-Family / Getty Images
6. Colorado
> Typical size of a $200k home: 1,090 sq. feet (tied – 3rd least)
> Median home value per sq. foot: $241 (4th highest)
> Median home value: $348,900 (4th highest)
> Overall cost of living: 3% more than avg.
See all stories featuring: Colorado
[in-text-ad]
Source: romanboed / Flickr
7. Connecticut
> Typical size of a $200k home: 1,360 sq. feet (17th least)
> Median home value per sq. foot: $154 (20th highest)
> Median home value: $273,100 (12th highest)
> Overall cost of living: 8.7% more than avg.
See all stories featuring: Connecticut
Source: AndreyKrav / Getty Images
8. Delaware
> Typical size of a $200k home: 1,510 sq. feet (tied – 24th least)
> Median home value per sq. foot: $133 (24th lowest)
> Median home value: $252,800 (17th highest)
> Overall cost of living: 0.2% more than avg.
See all stories featuring: Delaware
Source: romanboed / Flickr
9. Florida
> Typical size of a $200k home: 1,560 sq. feet (tied – 22nd most)
> Median home value per sq. foot: $144 (25th highest)
> Median home value: $214,000 (22nd highest)
> Overall cost of living: 0.3% less than avg.
See all stories featuring: Florida
[in-text-ad-2]
Source: SeanPavonePhoto / Getty Images
10. Georgia
> Typical size of a $200k home: 2,060 sq. feet (tied – 4th most)
> Median home value per sq. foot: $100 (10th lowest)
> Median home value: $173,700 (21st lowest)
> Overall cost of living: 7.9% less than avg.
See all stories featuring: Georgia
Source: Art Wager / Getty Images
11. Hawaii
> Typical size of a $200k home: 590 sq. feet (the least)
> Median home value per sq. foot: $507 (the highest)
> Median home value: $617,400 (the highest)
> Overall cost of living: 18.4% more than avg.
See all stories featuring: Hawaii
[in-text-ad]
Source: mattalberts / Getty Images
12. Idaho
> Typical size of a $200k home: 1,660 sq. feet (16th most)
> Median home value per sq. foot: $153 (21st highest)
> Median home value: $207,100 (23rd highest)
> Overall cost of living: 7% less than avg.
See all stories featuring: Idaho
Source: wellesenterprises / Getty Images
13. Illinois
> Typical size of a $200k home: 1,430 sq. feet (20th least)
> Median home value per sq. foot: $131 (22nd lowest)
> Median home value: $195,300 (24th highest)
> Overall cost of living: 1.1% less than avg.
See all stories featuring: Illinois
Source: Maksymowicz / Getty Images
14. Indiana
> Typical size of a $200k home: 2,060 sq. feet (tied – 4th most)
> Median home value per sq. foot: $92 (6th lowest)
> Median home value: $141,100 (6th lowest)
> Overall cost of living: 9.7% less than avg.
See all stories featuring: Indiana
[in-text-ad-2]
Source: dirkhansen / Flickr
15. Iowa
> Typical size of a $200k home: 1,560 sq. feet (tied – 22nd most)
> Median home value per sq. foot: $115 (17th lowest)
> Median home value: $149,100 (9th lowest)
> Overall cost of living: 9.8% less than avg.
See all stories featuring: Iowa
Source: Public Domain / Wikimedia Commons
16. Kansas
> Typical size of a $200k home: 1,580 sq. feet (tied – 20th most)
> Median home value per sq. foot: $100 (10th lowest)
> Median home value: $150,600 (10th lowest)
> Overall cost of living: 9.5% less than avg.
See all stories featuring: Kansas
[in-text-ad]
Source: alexeys / Getty Images
17. Kentucky
> Typical size of a $200k home: 1,820 sq. feet (12th most)
> Median home value per sq. foot: $102 (11th lowest)
> Median home value: $141,000 (5th lowest)
> Overall cost of living: 12.2% less than avg.
See all stories featuring: Kentucky
24/7 Wall St.
Source: pedrosz / Flickr
18. Louisiana
> Typical size of a $200k home: 1,860 sq. feet (10th most)
> Median home value per sq. foot: $95 (8th lowest)
> Median home value: $162,500 (15th lowest)
> Overall cost of living: 9.6% less than avg.
See all stories featuring: Louisiana
Source: SeanPavonePhoto / Getty Images
19. Maine
> Typical size of a $200k home: 1,220 sq. feet (tied – 8th least)
> Median home value per sq. foot: $171 (16th highest)
> Median home value: $191,200 (24th lowest)
> Overall cost of living: 1.6% less than avg.
See all stories featuring: Maine
[in-text-ad-2]
Source: olorak / Flickr
20. Maryland
> Typical size of a $200k home: 1,250 sq. feet (12th least)
> Median home value per sq. foot: $184 (11th highest)
> Median home value: $312,500 (9th highest)
> Overall cost of living: 9.5% more than avg.
See all stories featuring: Maryland
Source: DenisTangneyJr / Getty Images
21. Massachusetts
> Typical size of a $200k home: 1,220 sq. feet (tied – 8th least)
> Median home value per sq. foot: $249 (3rd highest)
> Median home value: $385,400 (3rd highest)
> Overall cost of living: 7.8% more than avg.
See all stories featuring: Massachusetts
[in-text-ad]
Source: benkrut / Getty Images
22. Michigan
> Typical size of a $200k home: 1,560 sq. feet (tied – 22nd most)
> Median home value per sq. foot: $118 (18th lowest)
> Median home value: $155,700 (11th lowest)
> Overall cost of living: 6.7% less than avg.
See all stories featuring: Michigan
Source: herreid / Getty Images
23. Minnesota
> Typical size of a $200k home: 1,180 sq. feet (5th least)
> Median home value per sq. foot: $179 (14th highest)
> Median home value: $224,000 (19th highest)
> Overall cost of living: 2.5% less than avg.
See all stories featuring: Minnesota
Source: Tiago_Fernandez / Getty Images
24. Mississippi
> Typical size of a $200k home: 2,370 sq. feet (the most)
> Median home value per sq. foot: $76 (3rd lowest)
> Median home value: $120,200 (2nd lowest)
> Overall cost of living: 13.6% less than avg.
See all stories featuring: Mississippi
[in-text-ad-2]
Source: WorldExotc21 / Getty Images
25. Missouri
> Typical size of a $200k home: 1,620 sq. feet (17th most)
> Median home value per sq. foot: $111 (16th lowest)
> Median home value: $156,700 (13th lowest)
> Overall cost of living: 10.5% less than avg.
See all stories featuring: Missouri
Source: Tashka / Getty Images
26. Montana
> Typical size of a $200k home: 1,230 sq. feet (tied – 11th least)
> Median home value per sq. foot: $182 (12th highest)
> Median home value: $231,300 (18th highest)
> Overall cost of living: 5.9% less than avg.
See all stories featuring: Montana
[in-text-ad]
Source: wellesenterprises / Getty Images
27. Nebraska
> Typical size of a $200k home: 1,580 sq. feet (tied – 20th most)
> Median home value per sq. foot: $122 (20th lowest)
> Median home value: $155,800 (12th lowest)
> Overall cost of living: 9.5% less than avg.
See all stories featuring: Nebraska
Source: gchapel / Getty Images
28. Nevada
> Typical size of a $200k home: 1,510 sq. feet (tied – 24th least)
> Median home value per sq. foot: $169 (17th highest)
> Median home value: $258,200 (15th highest)
> Overall cost of living: 2.6% less than avg.
See all stories featuring: Nevada
Source: Sean Pavone / Getty Images
29. New Hampshire
> Typical size of a $200k home: 1,410 sq. feet (18th least)
> Median home value per sq. foot: $162 (19th highest)
> Median home value: $263,600 (14th highest)
> Overall cost of living: 5.9% more than avg.
See all stories featuring: New Hampshire
[in-text-ad-2]
Source: mpd01605 / Flickr
30. New Jersey
> Typical size of a $200k home: 1,420 sq. feet (19th least)
> Median home value per sq. foot: $189 (9th highest)
> Median home value: $334,900 (6th highest)
> Overall cost of living: 13.2% more than avg.
See all stories featuring: New Jersey
Source: photoBeard / Getty Images
31. New Mexico
> Typical size of a $200k home: 1,600 sq. feet (tied – 18th most)
> Median home value per sq. foot: $130 (21st lowest)
> Median home value: $171,300 (19th lowest)
> Overall cost of living: 6.4% less than avg.
See all stories featuring: New Mexico
[in-text-ad]
Source: USGirl / Getty Images
32. New York
> Typical size of a $200k home: 1,680 sq. feet (15th most)
> Median home value per sq. foot: $149 (23rd highest)
> Median home value: $314,500 (8th highest)
> Overall cost of living: 15.6% more than avg.
See all stories featuring: New York
Source: moonjazz / Flickr
33. North Carolina
> Typical size of a $200k home: 1,790 sq. feet (13th most)
> Median home value per sq. foot: $111 (16th lowest)
> Median home value: $171,200 (18th lowest)
> Overall cost of living: 9.1% less than avg.
See all stories featuring: North Carolina
Source: ChrisBoswell / Getty Images
34. North Dakota
> Typical size of a $200k home: 1,090 sq. feet (tied – 3rd least)
> Median home value per sq. foot: $181 (13th highest)
> Median home value: $194,700 (25th highest)
> Overall cost of living: 8.5% less than avg.
See all stories featuring: North Dakota
[in-text-ad-2]
Source: fotoguy22 / Getty Images
35. Ohio
> Typical size of a $200k home: 1,900 sq. feet (9th most)
> Median home value per sq. foot: $95 (8th lowest)
> Median home value: $144,200 (8th lowest)
> Overall cost of living: 10.7% less than avg.
See all stories featuring: Ohio
Source: GracedByTheLight / Getty Images
36. Oklahoma
> Typical size of a $200k home: 2,090 sq. feet (3rd most)
> Median home value per sq. foot: $80 (5th lowest)
> Median home value: $137,400 (4th lowest)
> Overall cost of living: 11% less than avg.
See all stories featuring: Oklahoma
[in-text-ad]
Source: 4nadia / Getty Images
37. Oregon
> Typical size of a $200k home: 1,230 sq. feet (tied – 11th least)
> Median home value per sq. foot: $208 (7th highest)
> Median home value: $319,200 (7th highest)
> Overall cost of living: 0.2% less than avg.
See all stories featuring: Oregon
24/7 Wall St.
Source: AppalachianViews / Getty Images
38. Pennsylvania
> Typical size of a $200k home: 1,510 sq. feet (tied – 24th least)
> Median home value per sq. foot: $119 (19th lowest)
> Median home value: $181,200 (23rd lowest)
> Overall cost of living: 1.6% less than avg.
See all stories featuring: Pennsylvania
Source: dougtone / Flickr
39. Rhode Island
> Typical size of a $200k home: 1,280 sq. feet (tied – 14th least)
> Median home value per sq. foot: $197 (8th highest)
> Median home value: $257,800 (16th highest)
> Overall cost of living: 0.4% less than avg.
See all stories featuring: Rhode Island
[in-text-ad-2]
Source: pom-angers / Flickr
40. South Carolina
> Typical size of a $200k home: 1,840 sq. feet (11th most)
> Median home value per sq. foot: $106 (13th lowest)
> Median home value: $161,800 (14th lowest)
> Overall cost of living: 9.7% less than avg.
See all stories featuring: South Carolina
Source: criminalintent / Flickr
41. South Dakota
> Typical size of a $200k home: 1,230 sq. feet (tied – 11th least)
> Median home value per sq. foot: $163 (18th highest)
> Median home value: $167,600 (17th lowest)
> Overall cost of living: 11.7% less than avg.
See all stories featuring: South Dakota
[in-text-ad]
Source: Mountain Vacation Resorts / Wikimedia Commons
42. Tennessee
> Typical size of a $200k home: 1,750 sq. feet (14th most)
> Median home value per sq. foot: $103 (12th lowest)
> Median home value: $167,500 (16th lowest)
> Overall cost of living: 9.8% less than avg.
See all stories featuring: Tennessee
Source: dszc / Getty Images
43. Texas
> Typical size of a $200k home: 1,970 sq. feet (8th most)
> Median home value per sq. foot: $107 (14th lowest)
> Median home value: $172,200 (20th lowest)
> Overall cost of living: 3.1% less than avg.
See all stories featuring: Texas
Source: CodyHaskell / Getty Images
44. Utah
> Typical size of a $200k home: 1,210 sq. feet (6th least)
> Median home value per sq. foot: $228 (6th highest)
> Median home value: $275,100 (10th highest)
> Overall cost of living: 2.7% less than avg.
See all stories featuring: Utah
[in-text-ad-2]
Source: jjbers / Flickr
45. Virginia
> Typical size of a $200k home: 1,490 sq. feet (21st least)
> Median home value per sq. foot: $150 (22nd highest)
> Median home value: $273,400 (11th highest)
> Overall cost of living: 2.3% more than avg.
See all stories featuring: Virginia
Source: aiisha5 / iStock
46. Washington
> Typical size of a $200k home: 1,160 sq. feet (4th least)
> Median home value per sq. foot: $238 (5th highest)
> Median home value: $339,000 (5th highest)
> Overall cost of living: 5.5% more than avg.
See all stories featuring: Washington
[in-text-ad]
Source: benedek / Getty Images
47. West Virginia
> Typical size of a $200k home: 2,060 sq. feet (tied – 4th most)
> Median home value per sq. foot: $71 (the lowest)
> Median home value: $119,800 (the lowest)
> Overall cost of living: 12.4% less than avg.
See all stories featuring: West Virginia
24/7 Wall St.
Source: csfotoimages / Getty Images
48. Wisconsin
> Typical size of a $200k home: 1,560 sq. feet (tied – 22nd most)
> Median home value per sq. foot: $133 (24th lowest)
> Median home value: $178,900 (22nd lowest)
> Overall cost of living: 7.2% less than avg.
See all stories featuring: Wisconsin
Source: SeanXu / Getty Images
49. Wyoming
> Typical size of a $200k home: 1,300 sq. feet (16th least)
> Median home value per sq. foot: $172 (15th highest)
> Median home value: $214,300 (21st highest)
> Overall cost of living: 3.3% less than avg.
See all stories featuring: Wyoming
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
