The three-bedroom house is something of a standard for many American families.
They’re a great fit for a family of four, but those bedrooms can just as easily become home offices, gyms, art studios or whatever else you can imagine should you live alone or choose not to have kids.
If you want enough space for your family but don’t want to buy too much house, three-bedrooms can be that simple compromise that splits the difference.
But a three-bedroom home is not the same everywhere you go. Depending on the state you call home, the typical three-bedroom can cost anywhere from $160,000 to over $500,000. That’s why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.
According to the study, West Virginia is among the Top 5 least expensive states to buy a 3-bedroom house.
Here is the data from the study that illustrates how West Virginia landed in the Top 5:
Price per square foot: $98.13
Average list price for a three-bedroom home: $164,999
Average monthly mortgage payment: $765
Median rent for three-bedroom home: $955
Ohio is the least expensive state according to the study, followed by Kansas, West Virginia, Oklahoma and Mississippi rounding out the top 5.
Meanwhile, Hawaii is the most expensive state for a 3-bedroom home where the average cost is $695,000.
California, Massachusetts, Colorado, and Washington are the most expensive states on the list.
You’ll find the complete results for all 50 states online at gobankingrates.com/investing/real-estate/cost-to-own-3-bedroom-home-every-state/
The states are ranked based on the median list price for three-bedroom homes — from most expensive to least expensive. For additional context, GOBankingRates included a variety of other important factors that affect overall affordability, like the price per square foot, the average mortgage payment and the median rent.
The end result is a clearer picture of which states offer a friendly market for those shopping for a modest family home and which will price most people out of the market before they start looking.