How Much House Does $200K Buy You in Every State?

Mikolette / Getty Images/iStockphoto
Mikolette / Getty Images/iStockphoto

Housing prices rose so high in 2021 -- just shy of 20% -- that Zillow now quotes the median home value in the U.S. as $316,368. According to the Federal Reserve Bank of St. Louis, prices shot up so high in the second half of the year that the median sale price in the third quarter of 2021 breached $400,000 for the first time when it hit $404,700.

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Find: 50 Cities With the Most Underpriced Homes

In the post-pandemic world, $200,000 clearly doesn't go as far as it used to. In fact, the last time the median sale price was under $200,000 was the fourth quarter of 2003, when it hit $198,000. If $200,000 is your budget's ceiling, then you're going to have to put a lot of thought into where you're going to live.

In 2015, the average American home topped out at an indulgent 2,687 square feet, according to Rocket Mortgage, before settling down to 2,301. Even so, $200,000 won't get you anywhere near that in any state in the country -- you'll be well under 2,000 square feet even in the cheapest states. In the most expensive states, $200,000 will buy you something between a tiny house and the smallest studio apartments.

Using data from the Federal Reserve Bank of St. Louis and the Missouri Economic Research and Information Center's housing cost of living index (CoL), GoBankingRates ranked all 50 states by how much house -- or how little -- you can buy for $200,000.

See what $200,000 can buy you in each state.

SMJoness / Getty Images/iStockphoto
SMJoness / Getty Images/iStockphoto
OlegAlbinsky / Getty Images/iStockphoto
OlegAlbinsky / Getty Images/iStockphoto

49. New York

  • Housing CoL index: 227.5

  • Price per square foot: $422.30

  • No. of square feet for $200,000: 474

Warning: States With the Highest Property Taxes

Ron and Patty Thomas / Getty Images/iStockphoto
Ron and Patty Thomas / Getty Images/iStockphoto

48. California

  • Housing CoL index: 221

  • Price per square foot: $410.23

  • No. of square feet for $200,000: 488

Also Find: The Best Place to Buy a Home in Every State

DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto

47. Massachusetts

  • Housing CoL index: 177.8

  • Price per square foot: $330.04

  • No. of square feet for $200,000: 606

BenDC / Getty Images/iStockphoto
BenDC / Getty Images/iStockphoto

46. Oregon

  • Housing CoL index: 169.3

  • Price per square foot: $314.26

  • No. of square feet for $200,000: 636

Peeter Viisimaa / Getty Images/iStockphoto
Peeter Viisimaa / Getty Images/iStockphoto
Shutterstock.com
Shutterstock.com

44. New Jersey

  • Housing CoL index: 148

  • Price per square foot: $274.73

  • No. of square feet for $200,000: 728

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Shutterstock.com

43. Vermont

  • Housing CoL index: 135.5

  • Price per square foot: $251.52

  • No. of square feet for $200,000: 795

Doug Kerr / Flickr.com
Doug Kerr / Flickr.com
EasyBuy4u / Getty Images/iStockphoto
EasyBuy4u / Getty Images/iStockphoto
andykazie / Getty Images
andykazie / Getty Images
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Shutterstock.com

39. Washington

  • Housing CoL index: 121.6

  • Price per square foot: $225.72

  • No. of square feet for $200,000: 886

ThomHartwick / Getty Images/iStockphoto
ThomHartwick / Getty Images/iStockphoto

38. Rhode Island

  • Housing CoL index: 121.5

  • Price per square foot: $225.53

  • No. of square feet for $200,000: 887

Learn: Best Places in Every State To Get a Vacation Home

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Shutterstock.com

37. Arizona

  • Housing CoL index: 117.8

  • Price per square foot: $218.67

  • No. of square feet for $200,000: 915

KaraGrubis / Getty Images/iStockphoto
KaraGrubis / Getty Images/iStockphoto
SoleilC / Shutterstock.com
SoleilC / Shutterstock.com
DenisTangneyJr  / iStock.com
DenisTangneyJr / iStock.com
Jon Bilous / Shutterstock.com
Jon Bilous / Shutterstock.com
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Shutterstock.com

32. Florida

  • Housing CoL index: 104.1

  • Price per square foot: $193.24

  • No. of square feet for $200,000: 1,035

Delaware: 19807
Delaware: 19807

31. Delaware

  • Housing CoL index: 102.4

  • Price per square foot: $190.08

  • No. of square feet for $200,000: 1,052

Elvert Barnes / Flickr.com
Elvert Barnes / Flickr.com

30. South Dakota

  • Housing CoL index: 101.6

  • Price per square foot: $188.60

  • No. of square feet for $200,000: 1,060

Kirkikis / Getty Images
Kirkikis / Getty Images
georgeclerk / Getty Images/iStockphoto
georgeclerk / Getty Images/iStockphoto

28. Utah

  • Housing CoL index: 99.3

  • Price per square foot: $184.33

  • No. of square feet for $200,000: 1,085

picmax / Getty Images/iStockphoto
picmax / Getty Images/iStockphoto
LEE SNIDER PHOTO IMAGES / Shutterstock.com
LEE SNIDER PHOTO IMAGES / Shutterstock.com
Jimmy Emerson / Flickr.com
Jimmy Emerson / Flickr.com
KenWiedemann / Getty Images
KenWiedemann / Getty Images
Willard / Getty Images/iStockphoto
Willard / Getty Images/iStockphoto
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UWMadison / Getty Images/iStockphoto
capt_tain Tom / Flickr.com
capt_tain Tom / Flickr.com
Jakich / Getty Images/iStockphoto
Jakich / Getty Images/iStockphoto

20. Nebraska

  • Housing CoL index: 84.7

  • Price per square foot: $157.22

  • No. of square feet for $200,000: 1,272

Roschetzky Photography / Shutterstock.com
Roschetzky Photography / Shutterstock.com

19. Texas

  • Housing CoL index: 83.9

  • Price per square foot: $155.74

  • No. of square feet for $200,000: 1,284

Paul Sableman / Flickr.com
Paul Sableman / Flickr.com

18. Missouri

  • Housing CoL index: 82.1

  • Price per square foot: $152.40

  • No. of square feet for $200,000: 1,312

wbritten / Getty Images/iStockphoto
wbritten / Getty Images/iStockphoto

17. South Carolina

  • Housing CoL index: 82

  • Price per square foot: $152.21

  • No. of square feet for $200,000: 1,314

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

turtix / Shutterstock.com
turtix / Shutterstock.com

16. New Mexico

  • Housing CoL index: 82

  • Price per square foot: $152.21

  • No. of square feet for $200,000: 1,314

BlazenImages / Getty Images/iStockphoto
BlazenImages / Getty Images/iStockphoto

15. Arkansas

  • Housing CoL index: 79.8

  • Price per square foot: $148.13

  • No. of square feet for $200,000: 1,350

peeterv / Getty Images/iStockphoto
peeterv / Getty Images/iStockphoto

14. Michigan

  • Housing CoL index: 79.6

  • Price per square foot: $147.76

  • No. of square feet for $200,000: 1,354

sframephoto / Getty Images/iStockphoto
sframephoto / Getty Images/iStockphoto

13. Tennessee

  • Housing CoL index: 79.4

  • Price per square foot: $147.39

  • No. of square feet for $200,000: 1,357

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

Paola Giannoni / Getty Images/iStockphoto
Paola Giannoni / Getty Images/iStockphoto

12. Wyoming

  • Housing CoL index: 78.6

  • Price per square foot: $145.90

  • No. of square feet for $200,000: 1,371

Jason Meredith / Flickr.com
Jason Meredith / Flickr.com

11. Kentucky

  • Housing CoL index: 78.5

  • Price per square foot: $145.72

  • No. of square feet for $200,000: 1,373

Artazum  / Shutterstock.com
Artazum / Shutterstock.com

10. West Virginia

  • Housing CoL index: 78.4

  • Price per square foot: $145.53

  • No. of square feet for $200,000: 1,374

coophil / Getty Images/iStockphoto
coophil / Getty Images/iStockphoto

9. Indiana

  • Housing CoL index: 77.8

  • Price per square foot: $144.42

  • No. of square feet for $200,000: 1,385

Ohio
Ohio

8. Ohio

  • Housing CoL index: 77

  • Price per square foot: $142.93

  • No. of square feet for $200,000: 1,399

Also See: This Is the Salary You Need To Afford the Average Home in Your State

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pics721 / Shutterstock.com

7. Illinois

  • Housing CoL index: 75.3

  • Price per square foot: $139.78

  • No. of square feet for $200,000: 1,431

Imagenet  / Shutterstock.com
Imagenet / Shutterstock.com

6. Oklahoma

  • Housing CoL index: 75.2

  • Price per square foot: $139.59

  • No. of square feet for $200,000: 1,433

rodclementphotography / Getty Images/iStockphoto
rodclementphotography / Getty Images/iStockphoto

5. Georgia

  • Housing CoL index: 75.1

  • Price per square foot: $139.40

  • No. of square feet for $200,000: 1,435

Anne Kitzman / Shutterstock.com
Anne Kitzman / Shutterstock.com

4. Iowa

  • Housing CoL index: 74.7

  • Price per square foot: $138.66

  • No. of square feet for $200,000: 1,442

alexmisu  / Shutterstock.com
alexmisu / Shutterstock.com

3. Kansas

  • Housing CoL index: 72.8

  • Price per square foot: $135.14

  • No. of square feet for $200,000: 1,480

Roman Korotkov / Shutterstock.com
Roman Korotkov / Shutterstock.com

2. Alabama

  • Housing CoL index: 69.5

  • Price per square foot: $129.01

  • No. of square feet for $200,000: 1,550

Louisiana: 70118
Louisiana: 70118

1. Mississippi

  • Housing CoL index: 66.4

  • Price per square foot: $123.26

  • No. of square feet for $200,000: 1,623

More From GOBankingRates

Methodology: To determine how much house $200,000 will buy you in every state, GOBankingRates first sourced the (1) US median listing price per square feet in the United States as sourced from the Federal Reserve Bank of St. Louis ($185.63). With this figure isolated, GOBankingRates sourced each state's (2) housing cost of living index as sourced from the Missouri Economic Research and Information Center data for Quarter 3 of 2021. With these two factors, GOBankingRates was able to calculate how much square footage you could afford in each state with $200,000. All data were collected and are up to date as of Dec. 1, 2021.

This article originally appeared on GOBankingRates.com: How Much House Does $200K Buy You in Every State?