Have Home Prices Risen More in South Dakota, Iowa, or Minnesota?
There aren't too many things that don't cost more now than they did five years ago, but the prices of houses nationwide have seen a significant jump since 2018.
Now a new study is showing where those numbers have gone up the most.
The research by Boulder Home Source analyzed data from Zillow for the past five years and they found that house prices in Idaho have jumped the most dramatically - up a whopping 91.9 percent. The median home price in the Gem State is now $466,435.
No other state's increase was even close.
STATES WHERE HOUSE PRICES HAVE INCREASED THE MOST (Since 2018)
- Idaho: 91.9%
- Montana: 79.4%
- Georgia: 76.5%
- New Mexico: 76.2%
- Tennessee: 75.8%
- Arizona: 74.6%
- Florida: 73.5%
- North Carolina: 72.2%
- Maine: 70.4%
- Utah: 68.9%
Home price increases in South Dakota are among the 20 highest in America since 2018. The cost of the average home in the Mount Rushmore State is now $277,809, which is up 56.3% in the last five years.
That's the 19th highest in the U.S.
The data revealed that the state with the smallest increase in house prices is North Dakota, with a 22.7% increase in house prices in the past five years. The average house price in the state is currently $238,509.
STATES WHERE HOUSE PRICES HAVE INCREASED THE LEAST (Since 2018)
- North Dakota: 22.7%
- Louisiana: 23.6 %
- Alaska: 26.7%
- Maryland: 33.9%
- Mississippi: 36.7%
- Illinois: 37.3%
- New York: 39.3%
- Connecticut: 39.4%
- West Virginia: 40.0%
- Massachusetts: 40.9%
Minnesota and Iowa landed just outside the top ten.
The prices of homes in the North Star State are up 42.9 percent (13th lowest) to an average of $323,515.
The prices of homes in the Hawkeye State are up 47.3 percent (20th lowest) to an average of $183,418.