What Homes Will Be Worth in Your State by the End of 2021

With so much uncertainty surrounding the housing market, many Americans may be afraid that buying or selling a house is too risky of a move to make. A recession isn't great news for buyers, especially with the average family unable to afford a home in many parts of the country as it is. Prospective homebuyers are also concerned about their ability to make mortgage payments. But with all of these economic anxieties, how will you know when it's a good time to make a move? If you're debating on whether to buy or sell a home, the best financial choice will depend on the home value forecast in your state.

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According to the latest home value forecast data from Zillow, the median home value in the U.S. is $262,604; but Zillow is predicting an increase of nearly 8% within the next year.

To figure out the value of homes in 2021 across the country, GOBankingRates analyzed median home values from October 2020 using Zillow's forecast tool to predict the increase or decrease in home values by state. The study ranked each state according to its median home value, beginning with the lowest.

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It is important to note that GOBankingRates used the median home value instead of the median home price by state, because value accounts for more factors, such as comparable home sales and inspections. Median home value is an estimate of what the property is actually worth, while the median list price is based on demand and listing agent.

Find out what homes will be worth in your state by the end of 2021.

Last updated: Oct. 5, 2021

50. West Virginia

• Median home value in 2020: $109,182

• Projected one-year growth rate: 6.7%

• Forecasted median home value in 2021: $116,497

Read: Homes Won't Be Affordable in These Cities Within 10 Years

49. Mississippi

• Median home value in 2020: $135,563

• Projected one-year growth rate: 7.0%

• Forecasted median home value in 2021: $145,052

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48. Oklahoma

• Median home value in 2020: $140,270

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $150,931

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47. Arkansas

• Median home value in 2020: $141,806

• Projected one-year growth rate: 7.2%

• Forecasted median home value in 2021: $152,016

Find Out: The Best Place To Buy a Home in Every State

46. Kentucky

• Median home value in 2020: $155,599

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $167,425

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45. Iowa

• Median home value in 2020: $158,002

• Projected one-year growth rate: 6.7%

• Forecasted median home value in 2021: $168,588

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

44. Alabama

• Median home value in 2020: $156,544

• Projected one-year growth rate: 8.1%

• Forecasted median home value in 2021: $169,224

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43. Ohio

• Median home value in 2020: $162,933

• Projected one-year growth rate: 8.0%

• Forecasted median home value in 2021: $175,968

Check Out: 50 Cities Where It’s Cheaper To Buy a Home Than Rent

42. Kansas

• Median home value in 2020: $167,248

• Projected one-year growth rate: 7.5%

• Forecasted median home value in 2021: $179,792

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41. Indiana

• Median home value in 2020: $167,897

• Projected one-year growth rate: 7.7%

• Forecasted median home value in 2021: $180,825

Read: These Are the 50 Best Cities for Gen Z To Live Well on a Budget

40. Missouri

• Median home value in 2020: $173,541

• Projected one-year growth rate: 7.9%

• Forecasted median home value in 2021: $187,251

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39. Louisiana

• Median home value in 2020: $177,990

• Projected one-year growth rate: 7.2%

• Forecasted median home value in 2021: $190,805

See: 50 Neighborhoods Where Home Prices Are Going Through the Roof

38. Michigan

• Median home value in 2020: $186,144

• Projected one-year growth rate: 8.2%

• Forecasted median home value in 2021: $201,408

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37. Nebraska

• Median home value in 2020: $189,034

• Projected one-year growth rate: 7.4%

• Forecasted median home value in 2021: $203,023

See: States Where It’s Easiest To Go From Middle Class to Upper Class

36. Tennessee

• Median home value in 2020: $200,762

• Projected one-year growth rate: 7.9%

• Forecasted median home value in 2021: $216,622

Check Out: Best Cities To Retire on a Budget of $1,500 a Month

35. Wisconsin

• Median home value in 2020: $202,197

• Projected one-year growth rate: 8.0%

• Forecasted median home value in 2021: $218,373

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34. South Carolina

• Median home value in 2020: $204,820

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $220,386

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33. Pennsylvania

• Median home value in 2020: $211,224

• Projected one-year growth rate: 7.9%

• Forecasted median home value in 2021: $227,911

Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

32. Georgia

• Median home value in 2020: $216,314

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $232,754

Read: The Upper Class Has Taken Over These 50 Cities

31. Illinois

• Median home value in 2020: $217,672

• Projected one-year growth rate: 7.5%

• Forecasted median home value in 2021: $233,997

Learn More: Here’s Exactly How Much Savings You Need To Retire In Your State

30. North Carolina

• Median home value in 2020: $219,690

• Projected one-year growth rate: 7.8%

• Forecasted median home value in 2021: $236,826

See: Most and Least Expensive States To Build a Home

29. New Mexico

• Median home value in 2020: $219,406

• Projected one-year growth rate: 8.0%

• Forecasted median home value in 2021: $236,958

Find Out: Minimum Salary You Need To Be Happy in Every State

28. South Dakota

• Median home value in 2020: $221,300

• Projected one-year growth rate: 7.1%

• Forecasted median home value in 2021: $237,012

Read More: Want To Retire In One of America’s Safest Cities? $1 Million Might Not Get You Far

27. Texas

• Median home value in 2020: $224,065

• Projected one-year growth rate: 7.4%

• Forecasted median home value in 2021: $240,646

Find Out: How Much You Need To Live Comfortably in 50 Major US Cities

26. North Dakota

• Median home value in 2020: $237,673

• Projected one-year growth rate: 6.2%

• Forecasted median home value in 2021: $252,409

Read: How Much It Cost To Retire in the Year You Were Born

25. Wyoming

• Median home value in 2020: $257,261

• Projected one-year growth rate: 6.7%

• Forecasted median home value in 2021: $274,497

Read: How To Protect Your Retirement Savings During the Pandemic

24. Maine

• Median home value in 2020: $259,992

• Projected one-year growth rate: 8.5%

• Forecasted median home value in 2021: $282,091

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23. Florida

• Median home value in 2020: $262,291

• Projected one-year growth rate: 7.8%

• Forecasted median home value in 2021: $282,750

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22. Vermont

• Median home value in 2020: $268,730

• Projected one-year growth rate: 6.4%

• Forecasted median home value in 2021: $285,929

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21. Minnesota

• Median home value in 2020: $274,571

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $295,438

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20. Delaware

• Median home value in 2020: $274,067

• Projected one-year growth rate: 7.8%

• Forecasted median home value in 2021: $295,444

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19. Connecticut

• Median home value in 2020: $276,319

• Projected one-year growth rate: 8.4%

• Forecasted median home value in 2021: $299,530

Read: 30 Hot Real Estate Markets Where Homes Are Going Fast

18. Alaska

• Median home value in 2020: $287,613

• Projected one-year growth rate: 5.2%

• Forecasted median home value in 2021: $302,569

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17. Virginia

• Median home value in 2020: $299,164

• Projected one-year growth rate: 7.4%

• Forecasted median home value in 2021: $321,302

Find Out: The Best Place To Buy a Home in Every State

16. Arizona

• Median home value in 2020: $296,783

• Projected one-year growth rate: 9.2%

• Forecasted median home value in 2021: $324,087

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15. New Hampshire

• Median home value in 2020: $315,635

• Projected one-year growth rate: 8.5%

• Forecasted median home value in 2021: $342,464

See: 50 Cities Where It’s Cheaper To Buy a Home Than Rent

14. Montana

• Median home value in 2020: $317,725

• Projected one-year growth rate: 7.8%

• Forecasted median home value in 2021: $342,508

Read: 5 Affordable Ways To Make Over Every Room in Your House

13. Nevada

• Median home value in 2020: $320,203

• Projected one-year growth rate: 8.5%

• Forecasted median home value in 2021: $347,420

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12. Idaho

• Median home value in 2020: $323,274

• Projected one-year growth rate: 9.0%

• Forecasted median home value in 2021: $352,369

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11. Rhode Island

• Median home value in 2020: $325,805

• Projected one-year growth rate: 8.5%

• Forecasted median home value in 2021: $353,498

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10. Maryland

• Median home value in 2020: $330,332

• Projected one-year growth rate: 7.8%

• Forecasted median home value in 2021: $356,098

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9. New York

• Median home value in 2020: $349,939

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $376,534

See: 50 Cities With the Most Homes Under $100K

8. New Jersey

• Median home value in 2020: $364,230

• Projected one-year growth rate: 8.3%

• Forecasted median home value in 2021: $394,461

Read: 40 Things Every 40+ Should Know About Buying a Home

7. Utah

• Median home value in 2020: $383,216

• Projected one-year growth rate: 8.5%

• Forecasted median home value in 2021: $415,789

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6. Oregon

• Median home value in 2020: $385,520

• Projected one-year growth rate: 8.3%

• Forecasted median home value in 2021: $417,518

Read: 35 Useless Expenses You Need To Slash From Your Budget Now

5. Colorado

• Median home value in 2020: $427,659

• Projected one-year growth rate: 7.6%

• Forecasted median home value in 2021: $460,161

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4. Washington

• Median home value in 2020: $451,082

• Projected one-year growth rate: 8.9%

• Forecasted median home value in 2021: $491,228

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3. Massachusetts

• Median home value in 2020: $462,110

• Projected one-year growth rate: 8.3%

• Forecasted median home value in 2021: $500,465

Find Out: How Much Home You Can Buy With the Average Income in Every State

2. California

• Median home value in 2020: $599,159

• Projected one-year growth rate: 8.4%

• Forecasted median home value in 2021: $649,488

See: 35 Surprising Cities With Low Costs of Living

1. Hawaii

• Median home value in 2020: $655,433

• Projected one-year growth rate: 6.8%

• Forecasted median home value in 2021: $700,002

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Methodology: GOBankingRates used (1) Zillow's year-over-year home value forecast to adjust the (2) typical home value in each state in October 2020 according to Zillow's Home Value Index in order to calculate (3) the projected home value in every state at the end of October 2021. Then, GOBankingRates found the (4) projected change in home value by subtracting the 2020 October typical home value from the 2021 projected home value. All data was collected on and up to date as of Dec. 9, 2020.

*Home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is calculated from public and user-submitted data, taking into account special features, location and market conditions. To find home values, proprietary automated valuation models apply advanced algorithms to analyze the data to identify relationships within a specific geographic area, between this home-related data and actual sales prices. Home characteristics, such as square footage, location or the number of bathrooms, are given different weights according to their influence on home sale prices in each specific geography over a specific period of time, resulting in a set of valuation rules, or models, that are applied to generate each home’s value.

This article originally appeared on GOBankingRates.com: What Homes Will Be Worth in Your State by the End of 2021