Special Report
This Is the Average Cost of a Home in Washington

Published:
Last Updated:
A surge in demand for homes in the United States, in addition to limited housing inventory, has created a sellers market unlike anything seen in recent memory. Homes are now selling faster than ever before — and also for more money than ever before.
As of August 2021, a typical single-family home in the United States costs $303,288. Of course, home values are not uniform across the country, and in some states, the typical home costs far more than the national average — while in others, homes cost far less.
According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Washington is $542,012, higher than the national average.
Across Washington, the value of a single-family home across increased by 22.8% over the one year period from August 2020 to August 2021, compared to the national one-year home value appreciation of 17.7%.
Housing prices are determined by supply and demand forces as well as what local residents are willing to pay — and that is influenced largely by what they can afford. As a result, areas with higher than average home values often also have higher-income residents. Washington is no exception. The typical household in the state earns $78,687 annually, $13,000 more than the national median household income of $65,712.
This is How Much Home You Can Buy For 200K in Every State
Rank | State | Value of a typical single-family home | 1-yr. increase in home value | Median household income |
---|---|---|---|---|
1 | Hawaii | $764,146 | 14.5% | $83,102 |
2 | California | $708,936 | 21.9% | $80,440 |
3 | Massachusetts | $533,440 | 18.5% | $85,843 |
4 | Washington | $542,012 | 22.8% | $78,687 |
5 | Colorado | $509,800 | 20.3% | $77,127 |
6 | Oregon | $468,953 | 20.7% | $67,058 |
7 | Utah | $493,221 | 28.5% | $75,780 |
8 | New Jersey | $421,124 | 18.9% | $85,751 |
9 | New York | $363,990 | 14.2% | $72,108 |
10 | Idaho | $427,410 | 36.0% | $60,999 |
11 | Maryland | $373,264 | 14.7% | $86,738 |
12 | Rhode Island | $387,693 | 21.5% | $71,169 |
13 | Nevada | $389,397 | 23.8% | $63,276 |
14 | New Hampshire | $381,978 | 21.8% | $77,933 |
15 | Montana | $374,980 | 22.7% | $57,153 |
16 | Arizona | $376,369 | 30.7% | $62,055 |
17 | Virginia | $335,198 | 12.7% | $76,456 |
18 | Alaska | $304,908 | 4.1% | $75,463 |
19 | Connecticut | $326,124 | 20.7% | $78,833 |
20 | Delaware | $317,985 | 16.5% | $70,176 |
21 | Minnesota | $307,644 | 13.4% | $74,593 |
22 | Vermont | $308,300 | 12.9% | $63,001 |
23 | Maine | $318,628 | 22.7% | $58,924 |
24 | Florida | $313,217 | 20.1% | $59,227 |
25 | Wyoming | $279,449 | 6.4% | $65,003 |
26 | North Dakota | $252,788 | 6.4% | $64,577 |
27 | New Mexico | $253,790 | 17.8% | $51,945 |
28 | North Carolina | $260,597 | 19.0% | $57,341 |
29 | South Dakota | $249,314 | 11.9% | $59,533 |
30 | Texas | $257,628 | 18.1% | $64,034 |
31 | Georgia | $256,962 | 18.6% | $61,980 |
32 | Illinois | $239,408 | 13.3% | $69,187 |
33 | Pennsylvania | $240,658 | 16.2% | $63,463 |
34 | Wisconsin | $236,551 | 14.6% | $64,168 |
35 | Tennessee | $241,626 | 17.4% | $56,071 |
36 | South Carolina | $236,344 | 15.7% | $56,227 |
37 | Nebraska | $210,585 | 12.5% | $63,229 |
38 | Michigan | $214,231 | 17.4% | $59,584 |
39 | Missouri | $198,838 | 14.8% | $57,409 |
40 | Louisiana | $193,114 | 8.7% | $51,073 |
41 | Indiana | $191,054 | 14.8% | $57,603 |
42 | Ohio | $186,211 | 15.3% | $58,642 |
43 | Kansas | $180,914 | 12.5% | $62,087 |
44 | Kentucky | $172,433 | 11.6% | $52,295 |
45 | Iowa | $168,545 | 7.7% | $61,691 |
46 | Alabama | $175,586 | 13.7% | $51,734 |
47 | Arkansas | $153,263 | 12.2% | $48,952 |
48 | Oklahoma | $155,012 | 11.9% | $54,449 |
49 | Mississippi | $144,074 | 9.8% | $45,792 |
50 | West Virginia | $118,581 | 8.2% | $48,850 |
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.