Of the 40 states and the District of Columbia where we are licensed, Hawaii has the widest gap between home values and incomes: its median home value is about 8.4 times its median household income. California, at about 7.4, and the District of Columbia, at about 6.7, come next. Iowa, at about 2.8, and Kansas, at about 2.9, have the smallest gaps. The national figure is about 4.1.
I put this table together as plain Census facts for people thinking about a first home. It is not a measure of what any buyer can afford, and it says nothing about any loan.
The table: 40 states and the District of Columbia
Median means the middle figure. The fourth column divides the median home value by the median household income, so 4.0 means a home worth about four times a year of household income. The margin of error is the Census Bureau’s, at 90 in 100 confidence, and applies to the fourth column.
| State | Median home value | Median household income | Home value divided by income | Margin of error |
|---|---|---|---|---|
| Hawaii | 839,100 dollars | 100,389 dollars | 8.4 | 0.11 |
| California | 734,700 dollars | 99,122 dollars | 7.4 | 0.03 |
| District of Columbia | 737,100 dollars | 109,870 dollars | 6.7 | 0.15 |
| Oregon | 477,600 dollars | 83,011 dollars | 5.8 | 0.04 |
| Washington | 564,600 dollars | 98,141 dollars | 5.8 | 0.03 |
| Colorado | 539,400 dollars | 95,470 dollars | 5.6 | 0.04 |
| Nevada | 435,400 dollars | 78,260 dollars | 5.6 | 0.05 |
| Massachusetts | 562,100 dollars | 103,960 dollars | 5.4 | 0.03 |
| Idaho | 418,600 dollars | 77,800 dollars | 5.4 | 0.06 |
| Montana | 375,800 dollars | 72,509 dollars | 5.2 | 0.07 |
| Utah | 489,400 dollars | 95,166 dollars | 5.1 | 0.04 |
| Arizona | 394,500 dollars | 79,964 dollars | 4.9 | 0.03 |
| Florida | 359,000 dollars | 74,568 dollars | 4.8 | 0.02 |
| New Jersey | 454,400 dollars | 103,556 dollars | 4.4 | 0.02 |
| Delaware | 352,000 dollars | 84,954 dollars | 4.1 | 0.07 |
| Tennessee | 286,700 dollars | 69,595 dollars | 4.1 | 0.03 |
| Virginia | 383,700 dollars | 93,170 dollars | 4.1 | 0.02 |
| New Hampshire | 402,500 dollars | 99,031 dollars | 4.1 | 0.05 |
| Maryland | 419,900 dollars | 103,678 dollars | 4.1 | 0.03 |
| North Carolina | 288,900 dollars | 72,388 dollars | 4.0 | 0.02 |
| Georgia | 303,300 dollars | 77,353 dollars | 3.9 | 0.03 |
| New Mexico | 248,100 dollars | 64,059 dollars | 3.9 | 0.06 |
| Connecticut | 366,900 dollars | 95,781 dollars | 3.8 | 0.03 |
| Alaska | 352,900 dollars | 92,788 dollars | 3.8 | 0.07 |
| South Carolina | 259,000 dollars | 69,324 dollars | 3.7 | 0.04 |
| Minnesota | 329,300 dollars | 89,062 dollars | 3.7 | 0.02 |
| Texas | 283,800 dollars | 78,476 dollars | 3.6 | 0.01 |
| Louisiana | 216,500 dollars | 60,756 dollars | 3.6 | 0.03 |
| Wisconsin | 266,500 dollars | 77,485 dollars | 3.4 | 0.02 |
| Alabama | 209,900 dollars | 63,999 dollars | 3.3 | 0.03 |
| Pennsylvania | 254,500 dollars | 77,971 dollars | 3.3 | 0.02 |
| Kentucky | 205,600 dollars | 63,726 dollars | 3.2 | 0.03 |
| Michigan | 231,600 dollars | 72,875 dollars | 3.2 | 0.02 |
| Illinois | 263,300 dollars | 83,390 dollars | 3.2 | 0.02 |
| Arkansas | 188,000 dollars | 60,773 dollars | 3.1 | 0.04 |
| Oklahoma | 199,800 dollars | 65,039 dollars | 3.1 | 0.03 |
| Indiana | 218,200 dollars | 71,957 dollars | 3.0 | 0.02 |
| Ohio | 214,800 dollars | 71,389 dollars | 3.0 | 0.02 |
| Mississippi | 169,800 dollars | 56,447 dollars | 3.0 | 0.04 |
| Kansas | 217,200 dollars | 74,275 dollars | 2.9 | 0.03 |
| Iowa | 208,000 dollars | 75,059 dollars | 2.8 | 0.02 |
| United States, national figure | 332,700 dollars | 80,734 dollars | 4.1 | 0.01 |
Source: U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, tables B25077 and B19013, read from data.census.gov on November 6, 2026. Ratios and margins worked out by Fidelity Residential.
How the figures were worked out
- Home value divided by income: the median value of owner-occupied homes, divided by the median income of all households in the state.
- An approximation. A ratio of two medians is not the middle of each household’s own ratio, and the two medians describe different groups: home values come from homeowners, incomes from owners and renters alike.
- Margins of error: from the Census Bureau’s two margins and its formula for a ratio, so they are approximations too.
- Home values are estimates. The Census asks the owner what the home would sell for, so the figures are not sale prices.
- Incomes are in 2024 dollars, and the estimates pool 2020 to 2024.
What the table shows
- Eleven places are at about 5 or more. Hawaii, California, the District of Columbia, Oregon, Washington, Colorado, Nevada, Massachusetts, Idaho, Montana and Utah.
- Five are at about 3.0 or below. Indiana, Ohio, Mississippi, Kansas and Iowa.
- Above and below the nation. Fourteen of the 41 are above the national figure of about 4.1 by more than their margins of error and 23 are below it. Delaware, Tennessee, Virginia and New Hampshire are within their margins of it.
- Values and incomes. Hawaii has the largest median home value of the 41, 839,100 dollars. The District of Columbia has the largest median household income, 109,870 dollars.
- New Jersey is 14th of the 41 at about 4.4: a median home value of 454,400 dollars against a median household income of 103,556 dollars. That is above the national figure by more than the margins, and the rank is firm: Florida above and Delaware below are both apart from it by more than the margins.
If you are looking at a first home
The table compares typical values with typical incomes. For the loan side, our page on FHA loans explains how FHA loans work, and FHA loan vs conventional loan compares the two kinds. Our page on help with the money you bring to closing lets you see the programs we work with. New Jersey readers can also read our page on FHA loans in New Jersey.
Frequently asked questions
Why does the table show 40 states and the District of Columbia?
Fidelity Residential is licensed in 40 states and the District of Columbia, and the table covers those. The national figure covers the whole country.
Does a bigger number mean a buyer cannot afford a home there?
No. The number compares two middle figures, one for homes and one for households. It does not measure what any buyer can afford, which depends on savings, debts, credit and the loan itself.
Are home values here the prices homes sold for?
No. The Census asks homeowners to estimate what their home would sell for if it were for sale. Those estimates are rounded to the nearest hundred dollars, and they are not a list of sales.
Sources
- U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, table B25077, Median Value (Dollars), states (opens in a new tab), accessed November 6, 2026.
- U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, table B19013, Median Household Income in the Past 12 Months (in 2024 Inflation-Adjusted Dollars), states (opens in a new tab), accessed November 6, 2026.
- U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, tables B25077 and B19013, United States (opens in a new tab), accessed November 6, 2026.
- U.S. Census Bureau, American Community Survey and Puerto Rico Community Survey 2024 Subject Definitions (Value; Income) (opens in a new tab), accessed November 6, 2026.
- U.S. Census Bureau, Understanding and Using American Community Survey Data: What All Data Users Need to Know (margins of error for derived ratios) (opens in a new tab), accessed November 6, 2026.
Facts from these sources are stated in our own words. Last reviewed .
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