How Much House Does $300K, $400K and $500K Buy You in Every State?
It pays to buy a home where the cost of living is low. New research from MoneyLion indicates there are 25 states with a low cost of living and where the price per square foot is less than $200. As a result, buyers with a $300,000 housing budget can stretch it to purchase at least 1,500 square feet -- even more if you’re working with a $400,000 or $500,000 budget.
MoneyLion calculated the average price per square foot for each state using the housing cost-of-living index and median listing price per square foot. The average square feet for $300,000, $400,000 and $500,000 were calculated, and the states were sorted by most square footage per dollar.
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Key Findings
Americans can buy the most house for less in Oklahoma. The price per square foot is $149, which is the most affordable in America. Oklahoma is the only state where the square footage is cheap enough to buy more than 2,000 square feet on a $300,000 housing budget.
Square footage costs more than $500 in Massachusetts and Hawaii. The price per square foot is $512 in Massachusetts and $657 in Hawaii. Because of the exorbitant pricing, homeowners cannot buy a home with more than 1,000 square feet in either state for $500,000 or less.
The cheapest five states are in the South. With Oklahoma in first place at $149, the remaining four states include Mississippi ($154), West Virginia ($156), Alabama ($156) and Kentucky ($165).
New Mexico, Pennsylvania and Wyoming are the cheapest states outside the South and Midwest. The price per square foot is $188 in New Mexico, $191 in Pennsylvania and $192 in Wyoming.
Take a look at the amount of house you can buy in every state on a $300,000, $400,000 and $500,000 budget.
1. Oklahoma
Average home value: $215,829
Average monthly mortgage cost: $1,176
Price per square foot: $149
Square feet for $300,000: 2,008
Square feet for $400,000: 2,678
Square feet for $500,000: 3,347
2. Mississippi
Average home value: $185,426
Average monthly mortgage cost: $1,010
Price per square foot: $154
Square feet for $300,000: 1,943
Square feet for $400,000: 2,590
Square feet for $500,000: 3,238
3. West Virginia
Average home value: $168,521
Average monthly mortgage cost: $918
Price per square foot: $156
Square feet for $300,000: 1,926
Square feet for $400,000: 2,568
Square feet for $500,000: 3,210
4. Alabama
Average home value: $227,204
Average monthly mortgage cost: $1,238
Price per square foot: $156
Square feet for $300,000: 1,918
Square feet for $400,000: 2,557
Square feet for $500,000: 3,197
5. Kentucky
Average home value: $224,390
Average monthly mortgage cost: $1,223
Price per square foot: $165
Square feet for $300,000: 1,818
Square feet for $400,000: 2,424
Square feet for $500,000: 3,030
6. Indiana
Average home value: $247,568
Average monthly mortgage cost: $1,349
Price per square foot: $168
Square feet for $300,000: 1,790
Square feet for $400,000: 2,386
Square feet for $500,000: 2,983
7. North Dakota
Average home value: $281,570
Average monthly mortgage cost: $1,534
Price per square foot: $168
Square feet for $300,000: 1,783
Square feet for $400,000: 2,377
Square feet for $500,000: 2,971
8. Iowa
Average home value: $229,207
Average monthly mortgage cost: $1,249
Price per square foot: $170
Square feet for $300,000: 1,766
Square feet for $400,000: 2,355
Square feet for $500,000: 2,944
9. Kansas
Average home value: $237,252
Average monthly mortgage cost: $1,293
Price per square foot: $171
Square feet for $300,000: 1,760
Square feet for $400,000: 2,346
Square feet for $500,000: 2,933
10. Missouri
Average home value: $256,438
Average monthly mortgage cost: $1,397
Price per square foot: $171
Square feet for $300,000: 1,753
Square feet for $400,000: 2,337
Square feet for $500,000: 2,921
11. Arkansas
Average home value: $216,288
Average monthly mortgage cost: $1,178
Price per square foot: $171
Square feet for $300,000: 1,750
Square feet for $400,000: 2,334
Square feet for $500,000: 2,917
12. Texas
Average home value: $296,071
Average monthly mortgage cost: $1,613
Price per square foot: $173
Square feet for $300,000: 1,733
Square feet for $400,000: 2,310
Square feet for $500,000: 2,888
13. Georgia
Average home value: $328,589
Average monthly mortgage cost: $1,790
Price per square foot: $173
Square feet for $300,000: 1,731
Square feet for $400,000: 2,307
Square feet for $500,000: 2,884
14. Nebraska
Average home value: $268,004
Average monthly mortgage cost: $1,460
Price per square foot: $174
Square feet for $300,000: 1,726
Square feet for $400,000: 2,301
Square feet for $500,000: 2,877
15. South Carolina
Average home value: $299,609
Average monthly mortgage cost: $1,632
Price per square foot: $176
Square feet for $300,000: 1,709
Square feet for $400,000: 2,278
Square feet for $500,000: 2,848
16. Minnesota
Average home value: $342,905
Average monthly mortgage cost: $1,868
Price per square foot: $177
Square feet for $300,000: 1,692
Square feet for $400,000: 2,256
Square feet for $500,000: 2,820
17. Tennessee
Average home value: $324,354
Average monthly mortgage cost: $1,767
Price per square foot: $183
Square feet for $300,000: 1,643
Square feet for $400,000: 2,191
Square feet for $500,000: 2,738
18. Louisiana
Average home value: $207,295
Average monthly mortgage cost: $1,129
Price per square foot: $185
Square feet for $300,000: 1,621
Square feet for $400,000: 2,162
Square feet for $500,000: 2,702
19. Ohio
Average home value: $237,597
Average monthly mortgage cost: $1,294
Price per square foot: $186
Square feet for $300,000: 1,616
Square feet for $400,000: 2,154
Square feet for $500,000: 2,693
20. Illinois
Average home value: $282,610
Average monthly mortgage cost: $1,540
Price per square foot: $187
Square feet for $300,000: 1,606
Square feet for $400,000: 2,142
Square feet for $500,000: 2,677
21. South Dakota
Average home value: $309,306
Average monthly mortgage cost: $1,685
Price per square foot: $187
Square feet for $300,000: 1,606
Square feet for $400,000: 2,142
Square feet for $500,000: 2,677
22. Michigan
Average home value: $247,053
Average monthly mortgage cost: $1,346
Price per square foot: $188
Square feet for $300,000: 1,597
Square feet for $400,000: 2,129
Square feet for $500,000: 2,661
23. New Mexico
Average home value: $308,075
Average monthly mortgage cost: $1,678
Price per square foot: $188
Square feet for $300,000: 1,593
Square feet for $400,000: 2,124
Square feet for $500,000: 2,655
24. Pennsylvania
Average home value: $276,259
Average monthly mortgage cost: $1,505
Price per square foot: $191
Square feet for $300,000: 1,567
Square feet for $400,000: 2,090
Square feet for $500,000: 2,612
25. Wyoming
Average home value: $352,809
Average monthly mortgage cost: $1,922
Price per square foot: $192
Square feet for $300,000: 1,564
Square feet for $400,000: 2,085
Square feet for $500,000: 2,606
26. North Carolina
Average home value: $329,547
Average monthly mortgage cost: $1,795
Price per square foot: $203
Square feet for $300,000: 1,479
Square feet for $400,000: 1,972
Square feet for $500,000: 2,465
27. Wisconsin
Average home value: $320,341
Average monthly mortgage cost: $1,745
Price per square foot: $215
Square feet for $300,000: 1,394
Square feet for $400,000: 1,859
Square feet for $500,000: 2,324
28. Florida
Average home value: $391,157
Average monthly mortgage cost: $2,131
Price per square foot: $218
Square feet for $300,000: 1,376
Square feet for $400,000: 1,835
Square feet for $500,000: 2,293
29. Virginia
Average home value: $407,110
Average monthly mortgage cost: $2,218
Price per square foot: $219
Square feet for $300,000: 1,368
Square feet for $400,000: 1,824
Square feet for $500,000: 2,280
30. Delaware
Average home value: $393,880
Average monthly mortgage cost: $2,146
Price per square foot: $225
Square feet for $300,000: 1,336
Square feet for $400,000: 1,781
Square feet for $500,000: 2,226
31. Idaho
Average home value: $462,992
Average monthly mortgage cost: $2,522
Price per square foot: $225
Square feet for $300,000: 1,333
Square feet for $400,000: 1,777
Square feet for $500,000: 2,222
32. Colorado
Average home value: $543,152
Average monthly mortgage cost: $2,959
Price per square foot: $235
Square feet for $300,000: 1,277
Square feet for $400,000: 1,702
Square feet for $500,000: 2,128
33. Utah
Average home value: $538,135
Average monthly mortgage cost: $2,932
Price per square foot: $237
Square feet for $300,000: 1,267
Square feet for $400,000: 1,690
Square feet for $500,000: 2,112
34. Nevada
Average home value: $457,764
Average monthly mortgage cost: $2,494
Price per square foot: $238
Square feet for $300,000: 1,263
Square feet for $400,000: 1,684
Square feet for $500,000: 2,104
35. New Hampshire
Average home value: $509,851
Average monthly mortgage cost: $2,778
Price per square foot: $251
Square feet for $300,000: 1,197
Square feet for $400,000: 1,596
Square feet for $500,000: 1,995
36. Washington
Average home value: $600,243
Average monthly mortgage cost: $3,270
Price per square foot: $264
Square feet for $300,000: 1,135
Square feet for $400,000: 1,514
Square feet for $500,000: 1,892
37. Rhode Island
Average home value: $496,327
Average monthly mortgage cost: $2,704
Price per square foot: $265
Square feet for $300,000: 1,133
Square feet for $400,000: 1,510
Square feet for $500,000: 1,888
38. Oregon
Average home value: $495,680
Average monthly mortgage cost: $2,701
Price per square foot: $269
Square feet for $300,000: 1,114
Square feet for $400,000: 1,485
Square feet for $500,000: 1,857
39. Montana
Average home value: $453,629
Average monthly mortgage cost: $2,471
Price per square foot: $271
Square feet for $300,000: 1,106
Square feet for $400,000: 1,475
Square feet for $500,000: 1,843
40. Connecticut
Average home value: $449,212
Average monthly mortgage cost: $2,447
Price per square foot: $273
Square feet for $300,000: 1,099
Square feet for $400,000: 1,465
Square feet for $500,000: 1,831
41. Arizona
Average home value: $426,664
Average monthly mortgage cost: $2,325
Price per square foot: $276
Square feet for $300,000: 1,088
Square feet for $400,000: 1,451
Square feet for $500,000: 1,814
42. Alaska
Average home value: $393,715
Average monthly mortgage cost: $2,145
Price per square foot: $277
Square feet for $300,000: 1,081
Square feet for $400,000: 1,442
Square feet for $500,000: 1,802
43. Vermont
Average home value: $381,831
Average monthly mortgage cost: $2,080
Price per square foot: $283
Square feet for $300,000: 1,060
Square feet for $400,000: 1,413
Square feet for $500,000: 1,766
44. Maine
Average home value: $391,838
Average monthly mortgage cost: $2,135
Price per square foot: $307
Square feet for $300,000: 977
Square feet for $400,000: 1,302
Square feet for $500,000: 1,628
45. New Jersey
Average home value: $575,436
Average monthly mortgage cost: $3,135
Price per square foot: $307
Square feet for $300,000: 977
Square feet for $400,000: 1,302
Square feet for $500,000: 1,628
46. Maryland
Average home value: $436,227
Average monthly mortgage cost: $2,377
Price per square foot: $325
Square feet for $300,000: 924
Square feet for $400,000: 1,233
Square feet for $500,000: 1,541
47. New York
Average home value: $475,131
Average monthly mortgage cost: $2,589
Price per square foot: $393
Square feet for $300,000: 764
Square feet for $400,000: 1,018
Square feet for $500,000: 1,273
48. California
Average home value: $779,067
Average monthly mortgage cost: $4,244
Price per square foot: $400
Square feet for $300,000: 750
Square feet for $400,000: 1,000
Square feet for $500,000: 1,250
49. Massachusetts
Average home value: $658,277
Average monthly mortgage cost: $3,586
Price per square foot: $512
Square feet for $300,000: 586
Square feet for $400,000: 781
Square feet for $500,000: 976
50. Hawaii
Average home value: $952,637
Average monthly mortgage cost: $5,190
Price per square foot: $657
Square feet for $300,000: 457
Square feet for $400,000: 609
Square feet for $500,000: 761
Methodology: For this study, MoneyLion analyzed each U.S. state to find out how much house $300,000, $400,000, and $500,000 can afford. First, MoneyLion found the median listing price per square feet as sourced from the Federal Reserve Economic Data for December 2025. The cost-of-living indexes was sourced from Q3 of 2025 Missouri Economic and Research Information Center for each state. Using the housing index, as well as the median listing price per square foot, the average price per square foot for each state was calculated. With the average price per square foot for each state, the average square feet for $300,000, $400,000, and $500,000 was calculated. The states were sorted to show the most square footage you can get per dollar. The average home value was sourced from Zillow Home Value Index for December 2025. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated for each state. All data is up to date as of Jan. 26, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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