Key Findings
National Average
$353,961
Requires $92,784/year income
Most Affordable
West Virginia
Score: 246 | $155,000
Least Affordable
Hawaii
Score: 47 | $850,000
Top 10 Most Affordable States
$155,000
$37,772/yr needed
$170,000
$42,824/yr needed
$185,000
$45,347/yr needed
$195,000
$47,311/yr needed
$195,000
$49,748/yr needed
$205,000
$52,007/yr needed
$220,000
$52,276/yr needed
$230,000
$58,267/yr needed
$210,000
$58,600/yr needed
$215,000
$58,767/yr needed
10 Least Affordable States
$850,000
$198,030/yr needed
$785,000
$196,344/yr needed
$575,000
$153,471/yr needed
$480,000
$149,715/yr needed
$575,000
$148,337/yr needed
$450,000
$135,375/yr needed
$450,000
$127,983/yr needed
$535,000
$129,037/yr needed
$475,000
$122,369/yr needed
$485,000
$119,056/yr needed
Complete State Rankings
Click column headers to sort. Click state names to view detailed calculator.
| State | Rating | ||||
|---|---|---|---|---|---|
| 1 | West Virginia(WV) | $155,000 | $37,772 | 246 | Very Affordable |
| 2 | Mississippi(MS) | $170,000 | $42,824 | 217 | Very Affordable |
| 3 | Arkansas(AR) | $185,000 | $45,347 | 205 | Very Affordable |
| 4 | Louisiana(LA) | $195,000 | $47,311 | 196 | Very Affordable |
| 5 | Oklahoma(OK) | $195,000 | $49,748 | 187 | Very Affordable |
| 6 | Kentucky(KY) | $205,000 | $52,007 | 178 | Very Affordable |
| 7 | Alabama(AL) | $220,000 | $52,276 | 177 | Very Affordable |
| 8 | Indiana(IN) | $230,000 | $58,267 | 159 | Very Affordable |
| 9 | Iowa(IA) | $210,000 | $58,600 | 158 | Very Affordable |
| 10 | Kansas(KS) | $215,000 | $58,767 | 158 | Very Affordable |
| 11 | Missouri(MO) | $235,000 | $60,541 | 153 | Very Affordable |
| 12 | Ohio(OH) | $225,000 | $62,947 | 147 | Very Affordable |
| 13 | North Dakota(ND) | $250,000 | $64,494 | 144 | Very Affordable |
| 14 | Michigan(MI) | $240,000 | $66,714 | 139 | Very Affordable |
| 15 | Nebraska(NE) | $245,000 | $69,767 | 133 | Very Affordable |
| 16 | South Carolina(SC) | $290,000 | $70,567 | 131 | Very Affordable |
| 17 | New Mexico(NM) | $290,000 | $72,949 | 127 | Affordable |
| 18 | Pennsylvania(PA) | $270,000 | $75,439 | 123 | Affordable |
| 19 | South Dakota(SD) | $280,000 | $75,533 | 123 | Affordable |
| 20 | Wyoming(WY) | $320,000 | $78,324 | 118 | Affordable |
| 21 | North Carolina(NC) | $315,000 | $79,688 | 116 | Affordable |
| 22 | Wisconsin(WI) | $280,000 | $80,933 | 115 | Affordable |
| 23 | Illinois(IL) | $275,000 | $83,613 | 111 | Affordable |
| 24 | Tennessee(TN) | $340,000 | $84,433 | 110 | Affordable |
| 25 | Delaware(DE) | $350,000 | $85,167 | 109 | Moderate |
| 26 | Georgia(GA) | $340,000 | $86,983 | 107 | Moderate |
| 27 | Minnesota(MN) | $330,000 | $86,782 | 107 | Moderate |
| 28 | Alaska(AK) | $340,000 | $90,262 | 103 | Moderate |
| 29 | Texas(TX) | $315,000 | $90,488 | 103 | Moderate |
| 30 | Maine(ME) | $350,000 | $94,292 | 98 | Moderate |
| 31 | Virginia(VA) | $380,000 | $95,860 | 97 | Moderate |
| 32 | Arizona(AZ) | $425,000 | $104,783 | 89 | Expensive |
| 33 | Florida(FL) | $410,000 | $104,453 | 89 | Expensive |
| 34 | Maryland(MD) | $400,000 | $104,762 | 89 | Expensive |
| 35 | Nevada(NV) | $425,000 | $103,872 | 89 | Expensive |
| 36 | Washington D.C.(DC) | $412,000 | $108,052 | 86 | Expensive |
| 37 | Vermont(VT) | $380,000 | $110,517 | 84 | Expensive |
| 38 | Idaho(ID) | $450,000 | $111,429 | 83 | Expensive |
| 39 | Connecticut(CT) | $380,000 | $113,774 | 82 | Expensive |
| 40 | Montana(MT) | $450,000 | $113,840 | 82 | Expensive |
| 41 | Rhode Island(RI) | $420,000 | $118,100 | 79 | Expensive |
| 42 | Utah(UT) | $485,000 | $119,056 | 78 | Expensive |
| 43 | Oregon(OR) | $475,000 | $122,369 | 76 | Expensive |
| 44 | Colorado(CO) | $535,000 | $129,037 | 72 | Expensive |
| 45 | New York(NY) | $450,000 | $127,983 | 72 | Expensive |
| 46 | New Hampshire(NH) | $450,000 | $135,375 | 69 | Very Expensive |
| 47 | Washington(WA) | $575,000 | $148,337 | 63 | Very Expensive |
| 48 | New Jersey(NJ) | $480,000 | $149,715 | 62 | Very Expensive |
| 49 | Massachusetts(MA) | $575,000 | $153,471 | 60 | Very Expensive |
| 50 | California(CA) | $785,000 | $196,344 | 47 | Very Expensive |
Methodology
How We Calculate the Affordability Index
The AmCalc Mortgage Affordability Index measures how much annual income is required to afford the median-priced home in each state, then compares that to the national average to produce a score where 100 equals average affordability.
Assumptions Used
Down Payment
20%
Mortgage Rate
5.98% (30-yr fixed)
DTI Ratio (Housing)
28%
Homeowners Insurance
0.5% of home value
Calculation Steps
- Calculate loan amount (median price minus 20% down payment)
- Calculate monthly principal and interest using 30-year amortization
- Add monthly property taxes (using state average rates)
- Add estimated monthly insurance (0.5% of home value annually)
- Calculate required annual income using 28% front-end DTI ratio
- Compare to national average to produce affordability score
Score Interpretation
- Score 130+: Very Affordable - Requires significantly less income than average
- Score 110-129: Affordable - Requires less income than average
- Score 90-109: Moderate - Near the national average
- Score 70-89: Expensive - Requires more income than average
- Score below 70: Very Expensive - Requires significantly more income
Data Sources
Median home prices are sourced from Zillow, Redfin, and state housing authorities. Property tax rates are based on state averages from the Tax Foundation. Mortgage rates reflect current market rates as of the publication date.
Limitations
This index uses statewide averages and may not reflect local market conditions within each state. Housing markets vary significantly between urban and rural areas. PMI is not included as the model assumes 20% down payment. Actual affordability depends on individual circumstances including credit score, debt levels, and local factors.
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