What is the average home price in the USA?
The average home price in the USA was $362,481 in July 2024 — which is an annual increase of 3.30% from the average United States home price in July 2023.
The map below shows the 2024 average house prices by state in the USA. Home prices are updated with Zillows July 2024 Zillow Home Value Index (ZHVI) — which represents the typical home value in a given area.
How much does a house cost in the United States?
The average home price in the United States has increased throughout the past 5-year from $244,359 in August of 2019 to $362,481 in July of 2024 — this represents a 48.34% increase in the average home price over the 5-year period. The overall cost of a home can fluctuate significantly depending on your desired location within the United States. To provide insight into the housing market nationwide, this map illustrates the average home prices by state for 2024.
States with the most expensive homes
Hawaii: $858,569
The state with the most expensive homes is Hawaii with an average home price of $858,569. The average price of a home in Hawaii is 236.90% more than the average home price in the United States.
California: $784,989
California is the state with the second most expensive homes with an average home price of $784,989. The average home price in California is 216.60% above that of the United States.
Massachusetts: $635,183
Massachusetts has an average home price of $635,183 which is a 7.30% 1-year increase in the average home price. This average home price is almost double the national average at 175.26%.
Washington: $600,843
The average home price in Washington is $600,843 which is 165.79% above the United States average home price of $362,481. The average home price in Washington has seen a 3.70% 1-year increase in value.
Colorado: $550,511
Colorado is the fifth most expensive state with a average home price of $550,511. The average Colorado home price is 151.90% of the average USA home price. The average home price in Colorado has seen a year-over-year increase of 1.40%.
States with the least expensive homes
West Virginia: $169,446
The least expensive state in the United States for home price is West Virginia with an average home price of $169,446. The average home price in West Virginia is 46.75% of the national average home price.
Mississippi: $183,340
Mississippi has an average home price of $183,340 which makes it the second cheapest state for home prices. The average home price has seen 1.40% year-over-year growth.
Louisiana: $205,610
Louisiana has an average home price of $205,610 which is a 2.20% year-over-year decrease. The average home price in Louisiana is 56.73% of the United States average home price.
Oklahoma: $208,910
The average home price in Oklahoma is $208,910 which is the fourth cheapest state despite its 3.20% year-over-year increase in home price. The average home price in Oklahoma is more than half the 2024 USA average home price.
Arkansas: $210,371
Arkansas has an average home price of $210,371 which is $40,925 more than the average home price in West Virginia. The average home price in Arkansas is 58.05% of the 2024 USA average home price of $362,481.
Source: Zillow