A study by Madison Trust Company reveals the most and least affordable U.S. states for housing.
California ranks as the least affordable, with residents spending 25.82% of their income on housing, averaging $2,055 monthly. Other costly states include Massachusetts, Hawaii, and New Jersey. In contrast, West Virginia is the most affordable at $710 per month, followed by Mississippi and Arkansas.
Rising mortgage rates, inflation, and housing shortages continue to impact affordability. As people relocate to lower-cost areas, trends may shift. With housing costs soaring, homeownership remains a challenge for many Americans. Would you move for more affordable housing?
Brought to you by: Madisontrust.com
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