Montana Is America's Least Affordable State 🏠

Key Takeaways

• Montana has the worst housing affordability in the U.S., driven by an influx of new residents from coastal states and a shortage of affordable homes.
• In Columbus, Ohio there are less affordable housing units per capita than in New York and San Francisco—contributing to the states affordability crisis.
• Iowa is the country's most affordable state, with a median listing price of $294,600 and a median salary of $77,132. This home price to income ratio is the lowest nationally, at 4.03.

Methodology

Home affordability scores take into account the affordability of for-sale listings across the income spectrum and the median sales price compared to the median income of households in the state. 

Housing Affordability is On the Decline

Today, there is a housing shortage of four million homes in America, contributing to the growing affordability crisis.

South Carolina leads the nation in building homebuilding activity, but its affordability score falls near the middle of the pack.

Meanwhile, Texas is ramping up residential construction, accounting for 15.3% of permits in 2024.

Overall, states with the lowest affordability scores included Montana, Idaho, California, and Hawaii.