Special Report
The Most Expensive City to Buy a Home in Every State
December 12, 2021 11:00 am
Last Updated: December 13, 2021 4:10 pm
Source: aimintang / iStock via Getty Images
Massachusetts: Wellesley
> Median home value: $1,149,100 (Massachusetts: $381,600)
> Median monthly housing costs with a mortgage: $4,000+ (Massachusetts: $2,225)
> Share of housing units with a mortgage: 67.3% (Massachusetts: 69.2%)
> Homeownership rate: 80.9% (Massachusetts: 62.4%)
> Median household income: $197,132 (Massachusetts: $81,215)
Source: Kngkyle2 / Getty Images
Michigan: Forest Hills
> Median home value: $347,500 (Michigan: $154,900)
> Median monthly housing costs with a mortgage: $2,088 (Michigan: $1,298)
> Share of housing units with a mortgage: 64.3% (Michigan: 60.1%)
> Homeownership rate: 93.4% (Michigan: 71.2%)
> Median household income: $119,404 (Michigan: $57,144)
Source: gurineb / iStock via Getty Images
Minnesota: Edina
> Median home value: $476,300 (Minnesota: $223,900)
> Median monthly housing costs with a mortgage: $2,628 (Minnesota: $1,580)
> Share of housing units with a mortgage: 64.5% (Minnesota: 66.3%)
> Homeownership rate: 70.8% (Minnesota: 71.6%)
> Median household income: $104,244 (Minnesota: $71,306)
Source: C5Media / iStock Editorial via Getty Images
Mississippi: Madison
> Median home value: $261,900 (Mississippi: $119,000)
> Median monthly housing costs with a mortgage: $1,752 (Mississippi: $1,147)
> Share of housing units with a mortgage: 75.6% (Mississippi: 49.4%)
> Homeownership rate: 93.2% (Mississippi: 68.2%)
> Median household income: $114,521 (Mississippi: $45,081)
Source: reliasd / iStock via Getty Images
Missouri: Chesterfield
> Median home value: $379,800 (Missouri: $157,200)
> Median monthly housing costs with a mortgage: $2,321 (Missouri: $1,277)
> Share of housing units with a mortgage: 61.9% (Missouri: 61.5%)
> Homeownership rate: 78.0% (Missouri: 66.8%)
> Median household income: $113,315 (Missouri: $55,461)
Sponsored: Tips for Investing
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.
Editors' Picks
