The three-bedroom house might just be the most traditional American house around. These homes are not too ostentatious but provide all the space you need for family and maybe even an extra bedroom for guest space, a home office, or a leisure space of some kind.
And while the function of three-bedroom homes is standard, too, from one location to the next, the price certainly isn’t. Depending on the state you call home, the typical three-bedroom house can range from the mid- to high-$100,000s to about $900,000. That’s why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.
You’ll notice that average home values vary widely across the country, with a home as low as $163,000 in West Virginia and nearly $900,000 in Hawaii. To determine the cost of a three-bedroom in every state, GOBankingRates utilized data from Zillow, the Tax Foundation and the Federal Reserve Bank of St. Louis to assess a variety of other important factors that affect overall affordability, like the average size of a 20% down payment, the average annual property taxes and annual mortgage paid.
What you’ll find is that affordability really depends on where you live.
