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 gyms, art studios or the ever-popular home office in this age of remote working. 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 the price of 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 $149,000 to more than $900,000. 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.

West Virginia

• Average 3-bedroom home value: $140,636

• 20% down payment: $28,127

• Average effective state property tax: 0.53%

• Monthly mortgage payment: $666

• Annual mortgage cost: $7,992

Mississippi

• Average 3-bedroom home value: $167,152

• 20% down payment: $33,430

• Average effective state property tax: 0.63%

• Monthly mortgage payment: $806

• Annual mortgage cost: $9,672

Oklahoma

• Average 3-bedroom home value: $174,939

• 20% down payment: $34,988

• Average effective state property tax: 0.83%

• Monthly mortgage payment: $872

• Annual mortgage cost: $10,464

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Alabama

• Average 3-bedroom home value: $197,896

• 20% down payment: $39,579

• Average effective state property tax: 0.37%

• Monthly mortgage payment: $911

• Annual mortgage cost: $10,932

Louisiana

• Average 3-bedroom home value: $199,802

• 20% down payment: $39,960

• Average effective state property tax: 0.51%

• Monthly mortgage payment: $943

• Annual mortgage cost: $11,316

Kentucky

• Average 3-bedroom home value: $191,595

• 20% down payment: $38,319

• Average effective state property tax: 0.78%

• Monthly mortgage payment: $947

• Annual mortgage cost: $11,364

Arkansas

• Average 3-bedroom home value: $200,131

• 20% down payment: $40,026

• Average effective state property tax: 0.61%

• Monthly mortgage payment: $961

• Annual mortgage cost: $11,532

Kansas

• Average 3-bedroom home value: $194,090

• 20% down payment: $38,818

• Average effective state property tax: 1.28%

• Monthly mortgage payment: $1,041

• Annual mortgage cost: $12,492

Iowa

• Average 3-bedroom home value: $190,223

• 20% down payment: $38,045

• Average effective state property tax: 1.43%

• Monthly mortgage payment: $1,044

• Annual mortgage cost: $12,528

Indiana

• Average 3-bedroom home value: $210,195

• 20% down payment: $42,039

• Average effective state property tax: 0.81%

• Monthly mortgage payment: $1,045

• Annual mortgage cost: $12,540

Ohio

• Average 3-bedroom home value: $193,700

• 20% down payment: $38,740

• Average effective state property tax: 1.52%

• Monthly mortgage payment: $1,077

• Annual mortgage cost: $12,924

Missouri

• Average 3-bedroom home value: $223,155

• 20% down payment: $44,631

• Average effective state property tax: 0.96%

• Monthly mortgage payment: $1,137

• Annual mortgage cost: $13,644

Michigan

• Average 3-bedroom home value: $224,786

• 20% down payment: $44,957

• Average effective state property tax: 1.31%

• Monthly mortgage payment: $1,211

• Annual mortgage cost: $14,532

North Dakota

• Average 3-bedroom home value: $245,750

• 20% down payment: $49,150

• Average effective state property tax: 0.88%

• Monthly mortgage payment: $1,236

• Annual mortgage cost: $14,832

South Carolina

• Average 3-bedroom home value: $264,348

• 20% down payment: $52,870

• Average effective state property tax: 0.53%

• Monthly mortgage payment: $1,263

• Annual mortgage cost: $15,156

Pennsylvania

• Average 3-bedroom home value: $243,264

• 20% down payment: $48,653

• Average effective state property tax: 1.43%

• Monthly mortgage payment: $1,335

• Annual mortgage cost: $16,020

Nebraska

• Average 3-bedroom home value: $240,854

• 20% down payment: $48,171

• Average effective state property tax: 1.54%

• Monthly mortgage payment: $1,343

• Annual mortgage cost: $16,116

Georgia

• Average 3-bedroom home value: $267,962

• 20% down payment: $53,592

• Average effective state property tax: 0.87%

• Monthly mortgage payment: $1,345

• Annual mortgage cost: $16,140

New Mexico

• Average 3-bedroom home value: $285,168

• 20% down payment: $57,034

• Average effective state property tax: 0.59%

• Monthly mortgage payment: $1,365

• Annual mortgage cost: $16,380

Tennessee

• Average 3-bedroom home value: $286,943

• 20% down payment: $57,389

• Average effective state property tax: 0.63%

• Monthly mortgage payment: $1,383

• Annual mortgage cost: $16,596

North Carolina

• Average 3-bedroom home value: $282,453

• 20% down payment: $56,491

• Average effective state property tax: 0.78%

• Monthly mortgage payment: $1,397

• Annual mortgage cost: $16,764

South Dakota

• Average 3-bedroom home value: $267,796

• 20% down payment: $53,559

• Average effective state property tax: 1.14%

• Monthly mortgage payment: $1,404

• Annual mortgage cost: $16,848

New York

• Average 3-bedroom home value: $263,811

• 20% down payment: $52,762

• Average effective state property tax: 1.30%

• Monthly mortgage payment: $1,421

• Annual mortgage cost: $17,052

Wisconsin

• Average 3-bedroom home value: $255,497

• 20% down payment: $51,099

• Average effective state property tax: 1.53%

• Monthly mortgage payment: $1,423

• Annual mortgage cost: $17,076

Wyoming

• Average 3-bedroom home value: $304,883

• 20% down payment: $60,977

• Average effective state property tax: 0.51%

• Monthly mortgage payment: $1,439

• Annual mortgage cost: $17,268

Delaware

• Average 3-bedroom home value: $304,146

• 20% down payment: $60,829

• Average effective state property tax: 0.59%

• Monthly mortgage payment: $1,456

• Annual mortgage cost: $17,472

Illinois

• Average 3-bedroom home value: $246,366

• 20% down payment: $49,273

• Average effective state property tax: 1.97%

• Monthly mortgage payment: $1,462

• Annual mortgage cost: $17,544

Virginia

• Average 3-bedroom home value: $305,715

• 20% down payment: $61,143

• Average effective state property tax: 0.84%

• Monthly mortgage payment: $1,527

• Annual mortgage cost: $18,324

Texas

• Average 3-bedroom home value: $273,188

• 20% down payment: $54,638

• Average effective state property tax: 1.60%

• Monthly mortgage payment: $1,537

• Annual mortgage cost: $18,444

Minnesota

• Average 3-bedroom home value: $321,335

• 20% down payment: $64,267

• Average effective state property tax: 1.05%

• Monthly mortgage payment: $1,661

• Annual mortgage cost: $19,932

Alaska

• Average 3-bedroom home value: $333,120

• 20% down payment: $66,624

• Average effective state property tax: 0.98%

• Monthly mortgage payment: $1,703

• Annual mortgage cost: $20,436

Maryland

• Average 3-bedroom home value: $345,636

• 20% down payment: $69,127

• Average effective state property tax: 1.01%

• Monthly mortgage payment: $1,775

• Annual mortgage cost: $21,300

Florida

• Average 3-bedroom home value: $367,190

• 20% down payment: $73,438

• Average effective state property tax: 0.86%

• Monthly mortgage payment: $1,840

• Annual mortgage cost: $22,080

Maine

• Average 3-bedroom home value: $356,075

• 20% down payment: $71,215

• Average effective state property tax: 1.20%

• Monthly mortgage payment: $1,885

• Annual mortgage cost: $22,620

Connecticut

• Average 3-bedroom home value: $339,079

• 20% down payment: $67,816

• Average effective state property tax: 1.73%

• Monthly mortgage payment: $1,945

• Annual mortgage cost: $23,340

Arizona

• Average 3-bedroom home value: $406,287

• 20% down payment: $81,257

• Average effective state property tax: 0.60%

• Monthly mortgage payment: $1,948

• Annual mortgage cost: $23,376

Vermont

• Average 3-bedroom home value: $347,145

• 20% down payment: $69,429

• Average effective state property tax: 1.76%

• Monthly mortgage payment: $2,000

• Annual mortgage cost: $24,000

Nevada

• Average 3-bedroom home value: $428,265

• 20% down payment: $85,653

• Average effective state property tax: 0.56%

• Monthly mortgage payment: $2,039

• Annual mortgage cost: $24,468

Idaho

• Average 3-bedroom home value: $456,517

• 20% down payment: $91,303

• Average effective state property tax: 0.65%

• Monthly mortgage payment: $2,208

• Annual mortgage cost: $26,496

Connecticut

• Average 3-bedroom home value: $339,079

• 20% down payment: $67,816

• Average effective state property tax: 1.73%

• Monthly mortgage payment: $1,945

• Annual mortgage cost: $23,340

Montana

• Average 3-bedroom home value: $455,754

• 20% down payment: $91,151

• Average effective state property tax: 0.74%

• Monthly mortgage payment: $2,238

• Annual mortgage cost: $26,856

Rhode Island

• Average 3-bedroom home value: $416,006

• 20% down payment: $83,201

• Average effective state property tax: 1.37%

• Monthly mortgage payment: $2,262

• Annual mortgage cost: $27,144

Utah

• Average 3-bedroom home value: $511,435

• 20% down payment: $102,287

• Average effective state property tax: 0.56%

• Monthly mortgage payment: $2,435

• Annual mortgage cost: $29,220

Oregon

• Average 3-bedroom home value: $491,227

• 20% down payment: $98,245

• Average effective state property tax: 0.91%

• Monthly mortgage payment: $2,482

• Annual mortgage cost: $29,784

New Jersey

• Average 3-bedroom home value: $414,889

• 20% down payment: $82,978

• Average effective state property tax: 2.13%

• Monthly mortgage payment: $2,518

• Annual mortgage cost: $30,216

New Hampshire

• Average 3-bedroom home value: $431,835

• 20% down payment: $86,367

• Average effective state property tax: 1.89%

• Monthly mortgage payment: $2,535

• Annual mortgage cost: $30,420

Colorado

• Average 3-bedroom home value: $544,002

• 20% down payment: $108,800

• Average effective state property tax: 0.52%

• Monthly mortgage payment: $2,572

• Annual mortgage cost: $30,864

Massachusetts

• Average 3-bedroom home value: $541,463

• 20% down payment: $108,293

• Average effective state property tax: 1.06%

• Monthly mortgage payment: $2,804

• Annual mortgage cost: $33,648

Washington

• Average 3-bedroom home value: $579,211

• 20% down payment: $115,842

• Average effective state property tax: 0.84%

• Monthly mortgage payment: $2,893

• Annual mortgage cost: $34,716

California

• Average 3-bedroom home value: $728,128

• 20% down payment: $145,626

• Average effective state property tax: 0.70%

• Monthly mortgage payment: $3,552

• Annual mortgage cost: $42,624

Hawaii

• Average 3-bedroom home value: $911,290

• 20% down payment: $182,258

• Average effective state property tax: 0.31%

• Monthly mortgage payment: $4,149

• Annual mortgage cost: $49,788

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