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Study: Louisiana among most affordable US states to buy a home

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BATON ROUGE, La (BRPROUD) — A new study showed that Louisiana is among the most affordable states to buy a home in the United States.

Wealth of Geeks, personal finance experts, looked at earnings data from the Bureau of Labor Statistics and house price data from a real estate listing site, Realtor, to discover which U.S. states are the most affordable to buy a home, according to a news release.

Louisiana was ranked as the No. 6 state in the U.S., along with Indiana, where it is the most affordable to purchase a home. According to the study, the average home costs $275,000 in Louisiana.

The average home in Louisiana costs 4.74 times the annual salary, according to the study. The average annual salary in the state was $58,066.67 in 2023.

Ohio ranked as the No. 1 state with the most affordable homes, as the state’s average home prices costs four times the average annual salary, according to the study. Hawaii was found to be the least affordable state with homebuyers.

Check out the top 10 U.S. states with the most affordable homes:

1. Ohio
2. Michigan
3. Illinois
4. Pennsylvania
5. West Virginia
6. Louisiana and Indiana
7. Missouri
8. Texas
9. Iowa
10. Maryland, Kentucky and Kansas

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