Friday, December 11, 2020

Median Home Prices in our Capital Cities

Last week I wrote about Sacramento, CA median home values being below that of Vancouver, WA. That got me thinking about median prices around the country and in state capitals, like Sacramento. So here is a ranked list of Capital Cities in the USA by median home price arranged highest to cheapest (Zillow mid tier median used for all cities):

You might be tempted to think that Jackson, MS is a typo. It is not. In fact, I found this 1248 SF, light fixer online featuring 4 bedrooms and 1.5 baths on a 10,000 foot lot for $29,000. That house is a 1960s ranch with a very dated interior and in need of TLC. But it appears to be livable. This guy is priced about the same as a typical mid priced new car. Wow! I have no idea what kind of neighborhood this is so that $29k might be misleading, but you could rent this thing for $220 a month and still have a 7% cap rate.

For those wondering what the high end neighborhoods offer, take a look at this brick beauty with 3900 SF, 4 beds and 3.5 baths on a rather lovely one acre lot. Price? $276,000. This is easily a million bucks here in America's Vancouver. Jeez, that's a nice house. Looks good inside too, this is a really solid house.

Before you pack up and head to the deep south, take a look at what you money buys in the top city, Honolulu, or better put, doesn't buy. This little 2 bedroom, 1 bath cottage is on a tiny 1332 foot lot, yes 1332 SF lot and features 560 SF. There are no interior photos, I wonder why? Priced about the same as the 3900 SF mansion in Jackson. $275,000. 

Life is good here in Clark County, WA. Our housing is expensive, but not outrageous, and do you really want to live in Central Mississippi? Seriously, summers are like a steam bath... all day and your dressed. 

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