The Finch Formerly Known As Gold

28 September 2007

A roof over your head

BusinessWeek reports on a Coldwell Banker survey of the most and least affordable homes in each state, complete with slideshow. Methodology:

The Coldwell Banker HPCI survey evaluates average selling prices in 317 U.S. markets for single-family houses of approximately 2,220 square feet with four bedrooms, two-and-a-half baths, a family room, and a two-car garage. The cumulative average sales price of these subject homes is $422,343 (higher than the National Association of Realtors' median home price of $218,200 for all existing homes sold in the U.S.).

You can theoretically buy this imaginary house in Tulsa for a mere $153,750, putting T-Town among the ten most affordable markets. If you want it in Oklahoma City, though, you'll have to cough up an extra $40k. (Exactly. The OKC figure is $193,750.)

Some states with small areas and/or populations — Delaware, Rhode Island, Wyoming — have only one market in the survey; otherwise, the state with the least variance seems to be Idaho, where the difference between Coeur d'Alene and Boise is a mere thirty bucks.

Posted at 4:39 PM to Soonerland