The Cost To Own a 3-Bedroom Home in Every State

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 be an empty nester. 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.

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But a three-bedroom home is not the same everywhere you go. Depending on the state you call home, the typical three-bedroom house can list at anywhere from about $125,000 to more than $740,000. That's why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.

The states are ranked based on the average monthly mortgage payment for three-bedroom homes -- from least to most expensive. For additional context, GOBankingRates included a variety of other important factors that affect overall affordability, like the average size of a 20% down payment and the average effective property tax rate.

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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.

Last updated: July 13, 2021

West Virginia

• Average 3-bedroom home value: $125,540

• 20% down payment: $25,108

• Average effective state property tax: 0.55%

• Monthly mortgage payment: $479

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Mississippi

• Average 3-bedroom home value: $146,746

• 20% down payment: $29,349

• Average effective state property tax: 0.65%

• Monthly mortgage payment: $572

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Oklahoma

• Average 3-bedroom home value: $148,873

• 20% down payment: $29,775

• Average effective state property tax: 0.88%

• Monthly mortgage payment: $609

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Alabama

• Average 3-bedroom home value: $166,814

• 20% down payment: $33,363

• Average effective state property tax: 0.40%

• Monthly mortgage payment: $615

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Arkansas

• Average 3-bedroom home value: $169,551

• 20% down payment: $33,910

• Average effective state property tax: 0.64%

• Monthly mortgage payment: $659

Louisiana

• Average 3-bedroom home value: $175,923

• 20% down payment: $35,185

• Average effective state property tax: 0.52%

• Monthly mortgage payment: $667

Kentucky

• Average 3-bedroom home value: $165,738

• 20% down payment: $33,148

• Average effective state property tax: 0.82%

• Monthly mortgage payment: $669

Indiana

• Average 3-bedroom home value: $177,884

• 20% down payment: $35,577

• Average effective state property tax: 0.87%

• Monthly mortgage payment: $726

Kansas

• Average 3-bedroom home value: $169,190

• 20% down payment: $33,838

• Average effective state property tax: 1.33%

• Monthly mortgage payment: $755

Iowa

• Average 3-bedroom home value: $168,625

• 20% down payment: $33,725

• Average effective state property tax: 1.50%

• Monthly mortgage payment: $777

Ohio

• Average 3-bedroom home value: $168,937

• 20% down payment: $33,787

• Average effective state property tax: 1.62%

• Monthly mortgage payment: $795

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South Carolina

• Average 3-bedroom home value: $208,374

• 20% down payment: $41,675

• Average effective state property tax: 0.56%

• Monthly mortgage payment: $796

Missouri

• Average 3-bedroom home value: $191,056

• 20% down payment: $38,211

• Average effective state property tax: 1.01%

• Monthly mortgage payment: $802

Georgia

• Average 3-bedroom home value: $209,899

• 20% down payment: $41,980

• Average effective state property tax: 0.92%

• Monthly mortgage payment: $865

Tennessee

• Average 3-bedroom home value: $221,364

• 20% down payment: $44,273

• Average effective state property tax: 0.73%

• Monthly mortgage payment: $877

Michigan

• Average 3-bedroom home value: $199,226

• 20% down payment: $39,845

• Average effective state property tax: 1.44%

• Monthly mortgage payment: $908

North Carolina

• Average 3-bedroom home value: $223,591

• 20% down payment: $44,718

• Average effective state property tax: 0.85%

• Monthly mortgage payment: $909

North Dakota

• Average 3-bedroom home value: $220,227

• 20% down payment: $44,045

• Average effective state property tax: 0.95%

• Monthly mortgage payment: $913

New Mexico

• Average 3-bedroom home value: $240,283

• 20% down payment: $48,057

• Average effective state property tax: 0.68%

• Monthly mortgage payment: $942

Pennsylvania

• Average 3-bedroom home value: $212,270

• 20% down payment: $42,454

• Average effective state property tax: 1.51%

• Monthly mortgage payment: $979

South Dakota

• Average 3-bedroom home value: $225,041

• 20% down payment: $45,008

• Average effective state property tax: 1.22%

• Monthly mortgage payment: $984

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Nebraska

• Average 3-bedroom home value: $209,383

• 20% down payment: $41,877

• Average effective state property tax: 1.65%

• Monthly mortgage payment: $991

Wyoming

• Average 3-bedroom home value: $262,113

• 20% down payment: $52,423

• Average effective state property tax: 0.55%

• Monthly mortgage payment: $1,000

New York

• Average 3-bedroom home value: $226,773

• 20% down payment: $45,355

• Average effective state property tax: 1.40%

• Monthly mortgage payment: $1,026

Delaware

• Average 3-bedroom home value: $267,790

• 20% down payment: $53,558

• Average effective state property tax: 0.58%

• Monthly mortgage payment: $1,028

Texas

• Average 3-bedroom home value: $220,161

• 20% down payment: $44,032

• Average effective state property tax: 1.69%

• Monthly mortgage payment: $1,049

Wisconsin

• Average 3-bedroom home value: $224,048

• 20% down payment: $44,810

• Average effective state property tax: 1.73%

• Monthly mortgage payment: $1,075

Virginia

• Average 3-bedroom home value: $268,612

• 20% down payment: $53,722

• Average effective state property tax: 0.86%

• Monthly mortgage payment: $1,094

Illinois

• Average 3-bedroom home value: $219,271

• 20% down payment: $43,854

• Average effective state property tax: 2.05%

• Monthly mortgage payment: $1,110

Florida

• Average 3-bedroom home value: $282,779

• 20% down payment: $56,556

• Average effective state property tax: 0.94%

• Monthly mortgage payment: $1,170

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Minnesota

• Average 3-bedroom home value: $287,545

• 20% down payment: $57,509

• Average effective state property tax: 1.11%

• Monthly mortgage payment: $1,231

Arizona

• Average 3-bedroom home value: $317,917

• 20% down payment: $63,583

• Average effective state property tax: 0.67%

• Monthly mortgage payment: $1,244

Nevada

• Average 3-bedroom home value: $334,516

• 20% down payment: $66,903

• Average effective state property tax: 0.66%

• Monthly mortgage payment: $1,306

Alaska

• Average 3-bedroom home value: $315,024

• 20% down payment: $63,005

• Average effective state property tax: 1.02%

• Monthly mortgage payment: $1,325

Maryland

• Average 3-bedroom home value: $314,616

• 20% down payment: $62,923

• Average effective state property tax: 1.04%

• Monthly mortgage payment: $1,328

Maine

• Average 3-bedroom home value: $300,866

• 20% down payment: $60,173

• Average effective state property tax: 1.27%

• Monthly mortgage payment: $1,328

Montana

• Average 3-bedroom home value: $352,539

• 20% down payment: $70,508

• Average effective state property tax: 0.76%

• Monthly mortgage payment: $1,406

Vermont

• Average 3-bedroom home value: $293,436

• 20% down payment: $58,687

• Average effective state property tax: 1.80%

• Monthly mortgage payment: $1,425

Connecticut

• Average 3-bedroom home value: $298,666

• 20% down payment: $59,733

• Average effective state property tax: 1.70%

• Monthly mortgage payment: $1,425

Idaho

• Average 3-bedroom home value: $374,655

• 20% down payment: $74,931

• Average effective state property tax: 0.75%

• Monthly mortgage payment: $1,491

Utah

• Average 3-bedroom home value: $397,681

• 20% down payment: $79,536

• Average effective state property tax: 0.62%

• Monthly mortgage payment: $1,540

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Rhode Island

• Average 3-bedroom home value: $357,928

• 20% down payment: $71,586

• Average effective state property tax: 1.53%

• Monthly mortgage payment: $1,657

Oregon

• Average 3-bedroom home value: $407,724

• 20% down payment: $81,545

• Average effective state property tax: 0.98%

• Monthly mortgage payment: $1,701

Colorado

• Average 3-bedroom home value: $448,399

• 20% down payment: $89,680

• Average effective state property tax: 0.56%

• Monthly mortgage payment: $1,714

New Hampshire

• Average 3-bedroom home value: $364,106

• 20% down payment: $72,821

• Average effective state property tax: 2.03%

• Monthly mortgage payment: $1,838

New Jersey

• Average 3-bedroom home value: $362,709

• 20% down payment: $72,542

• Average effective state property tax: 2.21%

• Monthly mortgage payment: $1,885

Washington

• Average 3-bedroom home value: $476,105

• 20% down payment: $95,221

• Average effective state property tax: 0.92%

• Monthly mortgage payment: $1,963

Massachusetts

• Average 3-bedroom home value: $473,526

• 20% down payment: $94,705

• Average effective state property tax: 1.15%

• Monthly mortgage payment: $2,043

California

• Average 3-bedroom home value: $614,576

• 20% down payment: $122,915

• Average effective state property tax: 0.74%

• Monthly mortgage payment: $2,441

Hawaii

• Average 3-bedroom home value: $740,227

• 20% down payment: $148,045

• Average effective state property tax: 0.30%

• Monthly mortgage payment: $2,669

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Jami Farkas contributed to the reporting for this article.

Methodology: GOBankingRates determined the cost to own a three-bedroom home in every state by analyzing all 50 U.S. states along the following criteria: (1) average home value for a three-bedroom home, sourced from Zillow's April 2021 index; (2) monthly mortgage payment, using Zillow's mortgage calculator and based on the April 2021 average home value for a three-bedroom home, 20% down payment, the average state effective property tax sourced from the Tax Foundation and a 2.96% 30-year fixed mortgage, which is the current national average mortgage rate as of May 6, 2021, sourced from the Federal Reserve Bank of St. Louis; and (3) annual mortgage payment calculated by multiplying factor (2) by twelve. States were ranked by factor (2) with the lowest payment being best. All data compiled on June 15, 2021.

This article originally appeared on GOBankingRates.com: The Cost To Own a 3-Bedroom Home in Every State