States With The Most Affordable Housing In the US

June 3, 2024

In order to give you more information about which state offers the most affordable housing in the US, we conduct research to learn more about which states will fit your daily budget. Moody’s Analytics analysis compares each state’s mortgage interest rates, median family income, and median housing price.

According to the National Low Income Housing Coalition, a minimum wage worker working for 40 hours a week can afford to rent a two-bedroom apartment in the United States. Housing affordability lacking in the United States especially San Francisco and New York City.

Are you Moving? Check out the Best Interstate Moving and Storage list

Each state has given a score to identify it’s ranking. A score of 100 means a family with a median income has enough to qualify a mortgage for a home. The above 100 score means has more than enough qualification for a 20 percent downpayment. Below are the top 10 most affordable housing states in the US.

Also, Read: Top 10 Cities with Cheap Housing and Plenty of Jobs in the US

most affordable housing in the US

10 Most Affordable Housing in the US

10. South Dakota

The State of South Dakota surpass the national average of 165.9

Housing Affordability Score: 212.4
Median Income: $29,611

9. Michigan

According to the Best States ranking, the states of Michigan is tje nation’s fifth lowetst cost of living.

Housing Affordability Score: 212.8
Median Income: $30,488

Also, Read: 10 Things to Know Before Moving to Michigan

8. West Virginia

According to Unisted State Census Bureau, West Virginia median gross rates will cost you $711 each month.

Housing Affordability Score: 214.5
Median Income: $24,478

Also, Read: A Guide Moving to West Virginia

7. Oklahoma

The state is the second place for low cost of living in the nation.

Housing Affordability Score: 214.7
Median Income: $34,041

6. North Dakota

The national poverty rate is 13.4 percent. The state of North Dakota has one of the lowest when it comes to the poverty rate at 10.3 percent.

Housing Affordability Score: 216.3
Median Income: $34,041

5. Nebraska

The state of Nebraska is one of the best states with most income equality according to the GINI index score.

Housing Affordability Score: 219.7
Median Income: $30,915

4. Pennsylvania

From 2014 to 2018, the median family income in the states $59.445 , down to $32,711 in 2020 according to Census.

Housing Affordability Score: 221.1
Median Income: $32,711

Also, Read: Moving to Pennsylvania Guide, Moving To Keystone State

3. Indiana

You will pay $807 per month renting in Indiana.

Housing Affordability Score: 221.3
Median Income: $28,323

Also, Read: Moving to Indianapolis, IN: Is Moving to Indy Right for You?

2. Ohio

They say Ohio is for Lover, from 2014 to 2018, the average median household in the state is $54,533 according to U.S. Census.

Housing Affordability Score: 236.7
Median Income: $30,038

1. Iowa

Iowa is the top one on our list with the most affordable housing in the US. It is also ranked number one lowest cost of living in the United States.

Housing Affordability Score: 246.8
Median Income: $30,865

Also, Read: Things you need to know – and more | A Guide to Moving to Iowa

There you have it!

Before moving to other states, you must consider the availability and affordability of housing in each area. Searching the most affordable housing in the US will save you a lot of money in the future.

Also, Read: Know Your Rights: What to Do When Movers are Late?