The Cost To Buy a House Right Now vs. 5 Years Ago in Every State
Americans now need dramatically larger paychecks to afford a home than they did just five years ago. Thanks to a combination of higher home prices and mortgage rates that jumped from an average of 2.77% on a 30-year fixed-rate mortgage in 2021 to 7.28% today, the salary needed to buy a typical home has nearly doubled in most states.
To measure how affordability has changed, MoneyLion compared home values, mortgage costs and the salary needed to afford a typical single-family home in every state in 2021 versus 2026. Affordability assumes a buyer puts 15% down on a 30-year fixed mortgage and spends no more than 28% of pre-tax income on housing costs.
Read More: Why a $100K Salary Can Still Have You Living Paycheck to Paycheck
Find Out: Start Growing Your Net Worth With Smarter Tracking
Key Findings
Mortgage costs rose much faster than home values in every state. The salary needed to afford a home and annual mortgage costs increased by at least 69% in every state, while home values rose far less in most markets.
The Northeast led the nation in home value growth. Connecticut (39.6%), New York (36.8%), New Hampshire (35.7%) and New Jersey (35.5%) posted the largest percentage increases. In dollar terms, New Jersey home values climbed by $157,496, while Hawaii gained $143,367.
Hawaii and California residents face the largest housing affordability burden. Hawaii's annual mortgage cost increased by $33,294, while the salary needed to afford a home rose by $118,907. California followed at $26,281 and $93,862, respectively.
Louisiana and parts of the Mountain West saw the smallest home price gains. Louisiana's home value rose just 1.3%, or $2,702 — the smallest increase in the study. Idaho (6.1%), Colorado (6.9%) and Oregon (7.9%) also ranked near the bottom.
Where Homeownership Got Most Expensive
The biggest increases in home values were concentrated in the Northeast, with Connecticut, New York, New Hampshire and New Jersey leading the way. However, some of the nation's largest affordability challenges remain in high-cost states such as Hawaii and California, where buyers now need nearly six-figure salary increases to comfortably afford a home compared with five years ago.
Here's a look at how homeownership costs have changed across the country, ranked by the states with the largest percentage increases in home costs since 2021.
1. Connecticut
5-year difference in home value ($): $136,354
5-year difference in home value (%): 39.6%
5-year difference in annual mortgage: $19,170
5-year difference in salary needed to afford home ($): $68,463
5-year difference in salary needed to afford home (%): 133.4%
2. New York
5-year difference in home value ($): $135,939
5-year difference in home value (%): 36.7%
5-year difference in annual mortgage: $19,860
5-year difference in salary needed to afford home ($): $70,928
5-year difference in salary needed to afford home (%): 128.6%
3. New Hampshire
5-year difference in home value ($): $141,040
5-year difference in home value (%): 35.7%
5-year difference in annual mortgage: $20,932
5-year difference in salary needed to afford home ($): $74,758
5-year difference in salary needed to afford home (%): 126.8%
4. New Jersey
5-year difference in home value ($): $157,496
5-year difference in home value (%): 35.5%
5-year difference in annual mortgage: $23,428
5-year difference in salary needed to afford home ($): $83,673
5-year difference in salary needed to afford home (%): 126.5%
5. Rhode Island
5-year difference in home value ($): $130,721
5-year difference in home value (%): 33.3%
5-year difference in annual mortgage: $20,125
5-year difference in salary needed to afford home ($): $71,874
5-year difference in salary needed to afford home (%): 122.9%
6. Wisconsin
5-year difference in home value ($): $82,785
5-year difference in home value (%): 31.7%
5-year difference in annual mortgage: $13,108
5-year difference in salary needed to afford home ($): $46,813
5-year difference in salary needed to afford home (%): 120.1%
7. Illinois
5-year difference in home value ($): $70,735
5-year difference in home value (%): 30.5%
5-year difference in annual mortgage: $11,444
5-year difference in salary needed to afford home ($): $40,871
5-year difference in salary needed to afford home (%): 118.1%
8. Kansas
5-year difference in home value ($): $58,221
5-year difference in home value (%): 30.3%
5-year difference in annual mortgage: $9,456
5-year difference in salary needed to afford home ($): $33,772
5-year difference in salary needed to afford home (%): 117.8%
9. Ohio
5-year difference in home value ($): $57,870
5-year difference in home value (%): 29.6%
5-year difference in annual mortgage: $9,515
5-year difference in salary needed to afford home ($): $33,984
5-year difference in salary needed to afford home (%): 116.7%
10. Indiana
5-year difference in home value ($): $58,906
5-year difference in home value (%): 29.1%
5-year difference in annual mortgage: $9,790
5-year difference in salary needed to afford home ($): $34,964
5-year difference in salary needed to afford home (%): 115.8%
11. Maine
5-year difference in home value ($): $88,585
5-year difference in home value (%): 27.4%
5-year difference in annual mortgage: $15,260
5-year difference in salary needed to afford home ($): $54,501
5-year difference in salary needed to afford home (%): 112.9%
12. Iowa
5-year difference in home value ($): $51,559
5-year difference in home value (%): 26.8%
5-year difference in annual mortgage: $8,996
5-year difference in salary needed to afford home ($): $32,130
5-year difference in salary needed to afford home (%): 111.9%
13. Missouri
5-year difference in home value ($): $57,147
5-year difference in home value (%): 26.7%
5-year difference in annual mortgage: $9,985
5-year difference in salary needed to afford home ($): $35,662
5-year difference in salary needed to afford home (%): 111.8%
14. Oklahoma
5-year difference in home value ($): $47,079
5-year difference in home value (%): 26.5%
5-year difference in annual mortgage: $8,265
5-year difference in salary needed to afford home ($): $29,517
5-year difference in salary needed to afford home (%): 111.5%
15. Massachusetts
5-year difference in home value ($): $143,185
5-year difference in home value (%): 26.4%
5-year difference in annual mortgage: $25,230
5-year difference in salary needed to afford home ($): $90,105
5-year difference in salary needed to afford home (%): 111.2%
16. New Mexico
5-year difference in home value ($): $66,289
5-year difference in home value (%): 26.1%
5-year difference in annual mortgage: $11,738
5-year difference in salary needed to afford home ($): $41,921
5-year difference in salary needed to afford home (%): 110.9%
17. Nebraska
5-year difference in home value ($): $57,435
5-year difference in home value (%): 25.6%
5-year difference in annual mortgage: $10,295
5-year difference in salary needed to afford home ($): $36,766
5-year difference in salary needed to afford home (%): 110%
18. Montana
5-year difference in home value ($): $96,467
5-year difference in home value (%): 25.5%
5-year difference in annual mortgage: $17,343
5-year difference in salary needed to afford home ($): $61,939
5-year difference in salary needed to afford home (%): 109.8%
19. Wyoming
5-year difference in home value ($): $74,635
5-year difference in home value (%): 25.2%
5-year difference in annual mortgage: $13,503
5-year difference in salary needed to afford home ($): $48,227
5-year difference in salary needed to afford home (%): 109.3%
20. Kentucky
5-year difference in home value ($): $46,879
5-year difference in home value (%): 25.2%
5-year difference in annual mortgage: $8,491
5-year difference in salary needed to afford home ($): $30,325
5-year difference in salary needed to afford home (%): 109.3%
21. Tennessee
5-year difference in home value ($): $66,813
5-year difference in home value (%): 24.9%
5-year difference in annual mortgage: $12,178
5-year difference in salary needed to afford home ($): $43,493
5-year difference in salary needed to afford home (%): 108.8%
22. South Carolina
5-year difference in home value ($): $61,306
5-year difference in home value (%): 24.8%
5-year difference in annual mortgage: $11,223
5-year difference in salary needed to afford home ($): $40,081
5-year difference in salary needed to afford home (%): 108.5%
23. South Dakota
5-year difference in home value ($): $63,031
5-year difference in home value (%): 24.3%
5-year difference in annual mortgage: $11,685
5-year difference in salary needed to afford home ($): $41,730
5-year difference in salary needed to afford home (%): 107.7%
24. Michigan
5-year difference in home value ($): $51,473
5-year difference in home value (%): 24.2%
5-year difference in annual mortgage: $9,550
5-year difference in salary needed to afford home ($): $34,108
5-year difference in salary needed to afford home (%): 107.7%
25. Virginia
5-year difference in home value ($): $81,874
5-year difference in home value (%): 24%
5-year difference in annual mortgage: $15,261
5-year difference in salary needed to afford home ($): $54,504
5-year difference in salary needed to afford home (%): 107.4%
26. North Carolina
5-year difference in home value ($): $63,479
5-year difference in home value (%): 23.2%
5-year difference in annual mortgage: $12,099
5-year difference in salary needed to afford home ($): $43,210
5-year difference in salary needed to afford home (%): 106.0%
27. Georgia
5-year difference in home value ($): $61,508
5-year difference in home value (%): 22.6%
5-year difference in annual mortgage: $11,927
5-year difference in salary needed to afford home ($): $42,598
5-year difference in salary needed to afford home (%): 104.9%
28. West Virginia
5-year difference in home value ($): $32,765
5-year difference in home value (%): 22.3%
5-year difference in annual mortgage: $6,398
5-year difference in salary needed to afford home ($): $22,851
5-year difference in salary needed to afford home (%): 104.5%
29. Pennsylvania
5-year difference in home value ($): $52,832
5-year difference in home value (%): 22.2%
5-year difference in annual mortgage: $10,358
5-year difference in salary needed to afford home ($): $36,993
5-year difference in salary needed to afford home (%): 104.3%
30. Delaware
5-year difference in home value ($): $72,655
5-year difference in home value (%): 21.8%
5-year difference in annual mortgage: $14,409
5-year difference in salary needed to afford home ($): $51,462
5-year difference in salary needed to afford home (%): 103.6%
31. Arkansas
5-year difference in home value ($): $39,516
5-year difference in home value (%): 21.1%
5-year difference in annual mortgage: $8,015
5-year difference in salary needed to afford home ($): $28,625
5-year difference in salary needed to afford home (%): 102.4%
32. Florida
5-year difference in home value ($): $67,655
5-year difference in home value (%): 20.5%
5-year difference in annual mortgage: $13,957
5-year difference in salary needed to afford home ($): $49,846
5-year difference in salary needed to afford home (%): 101.5%
33. North Dakota
5-year difference in home value ($): $47,015
5-year difference in home value (%): 18.8%
5-year difference in annual mortgage: $10,299
5-year difference in salary needed to afford home ($): $36,781
5-year difference in salary needed to afford home (%): 98.6%
34. Alabama
5-year difference in home value ($): $35,939
5-year difference in home value (%): 17.6%
5-year difference in annual mortgage: $8,221
5-year difference in salary needed to afford home ($): $29,362
5-year difference in salary needed to afford home (%): 96.7%
35. Alaska
5-year difference in home value ($): $61,989
5-year difference in home value (%): 17.6%
5-year difference in annual mortgage: $14,230
5-year difference in salary needed to afford home ($): $50,822
5-year difference in salary needed to afford home (%): 96.5%
36. Hawaii
5-year difference in home value ($): $143,367
5-year difference in home value (%): 17.3%
5-year difference in annual mortgage: $33,294
5-year difference in salary needed to afford home ($): $118,907
5-year difference in salary needed to afford home (%): 96%
37. Vermont
5-year difference in home value ($): $58,974
5-year difference in home value (%): 17.2%
5-year difference in annual mortgage: $13,742
5-year difference in salary needed to afford home ($): $49,080
5-year difference in salary needed to afford home (%): 95.9%
38. Nevada
5-year difference in home value ($): $61,037
5-year difference in home value (%): 15.3%
5-year difference in annual mortgage: $15,446
5-year difference in salary needed to afford home ($): $55,163
5-year difference in salary needed to afford home (%): 92.7%
39. Minnesota
5-year difference in home value ($): $45,167
5-year difference in home value (%): 14.4%
5-year difference in annual mortgage: $11,927
5-year difference in salary needed to afford home ($): $42,597
5-year difference in salary needed to afford home (%): 91.3%
40. California
5-year difference in home value ($): $99,491
5-year difference in home value (%): 14.4%
5-year difference in annual mortgage: $26,281
5-year difference in salary needed to afford home ($): $93,862
5-year difference in salary needed to afford home (%): 91.3%
41. Utah
5-year difference in home value ($): $66,364
5-year difference in home value (%): 13.8%
5-year difference in annual mortgage: $18,077
5-year difference in salary needed to afford home ($): $64,562
5-year difference in salary needed to afford home (%): 90.3%
42. Maryland
5-year difference in home value ($): $53,024
5-year difference in home value (%): 13.6%
5-year difference in annual mortgage: $14,673
5-year difference in salary needed to afford home ($): $52,402
5-year difference in salary needed to afford home (%): 89.8%
43. Mississippi
5-year difference in home value ($): $21,339
5-year difference in home value (%): 12.1%
5-year difference in annual mortgage: $6,417
5-year difference in salary needed to afford home ($): $22,917
5-year difference in salary needed to afford home (%): 87.5%
44. Washington
5-year difference in home value ($): $63,044
5-year difference in home value (%): 11.6%
5-year difference in annual mortgage: $19,631
5-year difference in salary needed to afford home ($): $70,111
5-year difference in salary needed to afford home (%): 86.6%
45. Texas
5-year difference in home value ($): $30,428
5-year difference in home value (%): 11.2%
5-year difference in annual mortgage: $9,711
5-year difference in salary needed to afford home ($): $34,683
5-year difference in salary needed to afford home (%): 86%
46. Arizona
5-year difference in home value ($): $35,619
5-year difference in home value (%): 9.1%
5-year difference in annual mortgage: $13,469
5-year difference in salary needed to afford home ($): $48,103
5-year difference in salary needed to afford home (%): 82.4%
47. Oregon
5-year difference in home value ($): $36,739
5-year difference in home value (%): 7.9%
5-year difference in annual mortgage: $15,677
5-year difference in salary needed to afford home ($): $55,989
5-year difference in salary needed to afford home (%): 80.3%
48. Colorado
5-year difference in home value ($): $35,130
5-year difference in home value (%): 6.9%
5-year difference in annual mortgage: $16,790
5-year difference in salary needed to afford home ($): $59,965
5-year difference in salary needed to afford home (%): 78.7%
49. Idaho
5-year difference in home value ($): $27,574
5-year difference in home value (%): 6.1%
5-year difference in annual mortgage: $14,569
5-year difference in salary needed to afford home ($): $52,031
5-year difference in salary needed to afford home (%): 77.4%
50. Louisiana
5-year difference in home value ($): $2,702
5-year difference in home value (%): 1.3%
5-year difference in annual mortgage: $6,236
5-year difference in salary needed to afford home ($): $22,272
5-year difference in salary needed to afford home (%): 69.3%
Methodology: For this piece, MoneyLion first sourced the (1) August 2026 and (2) August 2021 single-family residence (SFR) home values for every state from Zillow’s August 2026 data. MoneyLion then found the following for each state: (3) monthly and annual mortgage costs in 2021, assuming a 15% down payment on a 30-year fixed-rate mortgage of 2.77%, as sourced from FreddieMac for Aug. 5, 2021 and (4) monthly and annual mortgage costs in 2026, assuming a 15% down payment on a 30-year fixed-rate mortgage of 7.28%, as sourced from FreddieMac for Oct. 2, 2026. MoneyLion then found (5) the salary needed to afford a house in 2021, assuming no more than 28% of pre-tax income goes towards your mortgage, and (6) the salary needed to afford a house in 2026, assuming no more than 28% of pre-tax income goes towards your mortgage. MoneyLion then found the five-year monetary and percent change in SFR home value, monetary and percent change in monthly and annual mortgage costs, and monetary and percent change in salary needed to afford a home. All data was collected and is up to date as of Oct. 6, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice. The research, writing and data analysis were handled by our editorial team. The formatting of the data alone was created with the assistance of artificial intelligence and reviewed by our editorial team for accuracy; however, AI-generated content may be inaccurate, incomplete or outdated. You should independently verify important information through reliable sources before making any decisions based on this content.
More From MoneyLion:
