The housing market has been competitive for the past several years, leaving many Americans struggling and still dreaming about home ownership. As rents increase, mortgage interest rises, housing stock runs short, and housing becomes more expensive for everyone. The team at Madison Trust Company explores which states are the most and least affordable in terms of housing. They calculated how much of their income residents of each state paid as well as their median monthly costs.
They found that these state residents pay the least:
- West Virginia ($710/month) - #1 most affordable state for housing
- Mississippi ($819/month) - #11 most affordable
- Arkansas ($878/month) - #8 most affordable
- Alabama ($912/month) - #6 most affordable
- Kentucky ($917/month) - #9 most affordable
- North Dakota ($972/month) - #2 most affordable
- Louisiana ($982/month) - #18 LEAST affordable
- Louisiana ($982/month) - #18 LEAST affordable
- South Dakota ($994/month) - #3 most affordable
- Oklahoma ($995/month) - #23 most affordable
infographic by: www.madisontrust.com
