With these real estate prices, it’s no wonder these states also lead the nation in consumer debt. These are some of the most expensive states to live in, and Washington DC, where you get less than 1,000 square feet, is one of the most expensive cities to live in. On the flipside, in some coastal states such as California and Massachusetts, don’t offer under 2,000 square feet of real estate isn’t available for $500,000. These so-called “Rust Belt” states have large housing stocks due to their population losses. And, while Gulf states like Mississippi and Alabama offer lots of real estate for your money, keep in mind that it will cost more to insure homes in these states as they are at risk for hurricanes and floods.Īnother region of the country with low housing prices is the Midwest: Indiana and Ohio offer relatively low square-foot prices. Housing in these states is a bargain: the average home price in West Virginia is one-third the price of homes in Washington, D.C. If you are looking to purchase more real estate for your money, head south: Mississippi and West Virginia are the only states in America where half a million dollars will get you more than 5,000 square feet. Ft.) Top 5 States with the Least Real Estate Purchased with $500,000ġ. Top 5 States with the Most Real Estate Purchased with $500,000ġ. Our viz is a grid map indicating the purchasing amount for each state: a larger square and lighter shade of pink indicates that more square feet can be purchased in that state. Our data comes from Zillow and we use median list price per square foot to derive how many square feet could be purchased with half a million dollars in all 50 states. 11% of realtors have indicated a fall in buyer traffic amid coronavirus fears, a troubling indicator for home sellers.30-year mortgage rates recently hit 3.29%, the lowest in 50 years, a promising indicator for home buyers.A home in West Virginia can be purchased for one-third the price of one in Washington, D.C.Sales per square foot range across the country from $98/sq ft in Mississippi to $552/sq ft in Washington, D.C.After all, the first rule of real estate is: “location, location, location.” However, depending on where you go in America, your $500,000 may stretch further. The largest state is Alaska which covers 365,000,000 acres of land.Half a million dollars can get you over 3,000 square feet of home real estate in the United States, based on the national median price per square feet. That sounds like a big number, but when you consider that the 2018 median size of a new home in America is 2,386 square feet (which is 1,000 square feet larger than 50 years ago), it’s no surprise that mortgage debt has hit a record-high $14 trillion. The USA has 50 states and covers 2.43 Billion acres of land. ![]() Therefore, 5 houses can fit on 1 acre of land. However, in the USA, most new homes are constructed on lot sizes that are 1/5th of an acre. Not all houses are the same size in terms of square footage so the number of houses that can fit on an acre can vary. ![]() How many houses can you fit on an acre of land? If you are a slower walker, it could take you closer to 60 seconds or 1 minute to walk a full acre of land. To walk across 1 acre of land, it should take you around 35 seconds which is about half (1/2) of one minute. However, on average, a person walks at a speed of 3 to 4 miles per hour. Not all people walk at the same speed and therefore you may cover more or less distance in a given amount of time compared to someone else. 1 acre converted to other units of measurements
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