If you’re looking to buy a house with a $300,000 budget, you may want to look outside of Florida if you hope to get a larger home.
You’ll get the most bang for your buck in Mississippi, and your worst bet is Washington, D.C., according to GOBankingRates.
Using data from Zillow, GOBankingRates analyzed the median list price of homes across the nation to determine how much home you can buy for $300,000 in every state, not counting taxes, fees and other home-buying costs.
Florida falls below the national average of 1,967 square feet for a $300,000 home, and for its median list price of $229,000. The average size home in Florida is 1,375 square feet, according to GOBankingRates. Nationwide, the median list price is $285,000 and the average cost per square foot is $152.51.
According to GOBankingRates, Florida’s median price per square foot has been rising, but that’s true of all states. Florida’s median price per square foot rose 40.8% from $118.18 in March 2014 to $166.55 in March 2019. That is faster than the five-year growth of the U.S. overall, which rose 31.7% from $115.81 to $152.51 during the same period.
However, when looking at the two-year change from 2017-2019, Florida’s price per square foot grew by just 7.9%, and only by 2.6% from 2018-2019, while for the U.S. at large, the price per square foot rose by 12.4% and 6.1% respectively. Thus, even though Florida’s price per square foot has been rising, its slower rate recently is a good sign for prospective homebuyers. “With no state income tax, you’re still getting the bang for your buck by staying in Florida,” said GOBankingRates.