How much house will a $3,000 payment get me? (all 50 states, explained)
December 11, 2025
Comparisons
Here's what goes into a payment:
Principal and interest (this is the loan payment itself)
Property taxes (lenders want you to pay your taxes, so they put this in an escrow account)
Homeowners insurance (lenders want to make sure your home is insured, so they put this in an escrow account)
Mortgage insurance (needed and charged if you put less than 20% down payment)
HOA (not in your mortgage payment, but something you may need to budget for)
So, naturally if your property taxes are higher in a specific state, you'll afford less of a purchase price. The same goes for homeowners insurance.
I'm going to assume a 5% down payment, with a .0025 mortgage insurance factor
Here's the chart
part 1 approximate purchase price for each state
State Purchase Price AL $418,701 AK $404,050 AZ $424,799 AR $405,907 CA $417,917 CO $415,570 CT $370,796 DE $425,071 FL $375,686 GA $390,728 HI $444,785 ID $398,629 IL $351,190 IN $397,437 IA $386,088 KS $400,897 KY $399,115 LA $395,125 ME $379,622 MD $368,780 MA $369,417 MI $376,769 MN $378,710 MS $412,287 MO $405,680 MT $409,158 NE $393,693 NV $407,847 NH $384,188 NJ $346,228 NM $411,286 NY $354,720 NC $401,187 ND $405,748 OH $403,851 OK $407,886 OR $399,873 PA $387,236 RI $382,658 SC $401,198 SD $395,727 TN $398,119 TX $381,266 UT $390,751 VT $375,388 VA $385,511 WA $393,396 WV $393,256 WI $375,164 WY $419,563
part 2 side by side with the state's median purchase price
You may be able to afford a higher purchase price in California than Texas, but can you realistically get a house for that price? This shows you if a $3,000 payment is realistic
State Purchase Price Median Home Price AL $418,701 $231,946 AK $404,050 $395,096 AZ $424,799 $440,228 AR $405,907 $219,825 CA $417,917 $809,227 CO $415,570 $567,724 CT $370,796 $465,586 DE $425,071 $406,448 FL $375,686 $405,280 GA $390,728 $338,734 HI $444,785 $973,555 ID $398,629 $465,288 IL $351,190 $292,156 IN $397,437 $254,931 IA $386,088 $237,357 KS $400,897 $242,859 KY $399,115 $225,191 LA $395,125 $213,371 ME $379,622 $413,961 MD $368,780 $451,121 MA $369,417 $685,886 MI $376,769 $259,702 MN $378,710 $358,473 MS $412,287 $189,849 MO $405,680 $264,646 MT $409,158 $467,372 NE $393,693 $277,389 NV $407,847 $472,477 NH $384,188 $528,377 NJ $346,228 $588,776 NM $411,286 $316,778 NY $354,720 $487,737 NC $401,187 $339,287 ND $405,748 $289,622 OH $403,851 $246,244 OK $407,886 $218,822 OR $399,873 $515,474 PA $387,236 $286,397 RI $382,658 $506,723 SC $401,198 $306,512 SD $395,727 $321,393 TN $398,119 $335,560 TX $381,266 $308,212 UT $390,751 $546,553 VT $375,388 $406,730 VA $385,511 $416,516 WA $393,396 $626,603 WV $393,256 $169,759 WI $375,164 $334,636 WY $419,563 $367,126
part 3 which states have the most realistic chance of finding a house for a $3,000 monthly payment
Further down on the chart it gets a little tight, meaning the median price is about $50k or less above the amount a $3k payment would get you.
State Purchase Price Median Home Price WV $393,256 $169,759 MS $412,287 $189,849 LA $395,125 $213,371 OK $407,886 $218,822 AR $405,907 $219,825 KY $399,115 $225,191 AL $418,701 $231,946 IA $386,088 $237,357 KS $400,897 $242,859 OH $403,851 $246,244 IN $397,437 $254,931 MI $376,769 $259,702 MO $405,680 $264,646 NE $393,693 $277,389 PA $387,236 $286,397 ND $405,748 $289,622 IL $351,190 $292,156 SC $401,198 $306,512 TX $381,266 $308,212 NM $411,286 $316,778 SD $395,727 $321,393 WI $375,164 $334,636 TN $398,119 $335,560 GA $390,728 $338,734 NC $401,187 $339,287 MN $378,710 $358,473 WY $419,563 $367,126 AK $404,050 $395,096 FL $375,686 $405,280 DE $425,071 $406,448 VT $375,388 $406,730 ME $379,622 $413,961 VA $385,511 $416,516 AZ $424,799 $440,228
Here are the states that didn't make the cut:
Maryland, Idaho, Connecticut, Montana, Nevada, New York, Rhode Island, Oregon, New Hampshire, Utah, Colorado, New Jersey, Washington, Massachusetts, California, Hawaii
I bet there are states here where you could find a $3k mortgage payment, but it just gets a little more difficult in general.
Anyway, hope you found this as interesting as I did!
Sam