The weighted average house value for the former 13 colonies is $239,351, considerably higher than the country’s overall average of $212,635.
“It is difficult to pin down exactly why this is the case, but it likely has to do with the fact that the states that have been around since the nation’s inception are still economic and cultural hubs, boasting some of the nation’s largest economies, important landmarks and prestigious universities. As a result, despite their age, these areas are still attractive places for Americans to live,” said a LendingTree report by Chief Economist Tendayi Kapfidze.
Still, consumers earning the local median income can afford average homes in each state.
The LendingTree data is ranked by most affordable states, based on local housing and income figures.