PORTLAND, Ore. (KOIN) — Prices for homes continue to trend upward in Oregon and across the West as demand continues to rise — so what will a fixed $300,000 homebuying budget get you in Oregon?
GoBankingRates researchers analyzed how much a $300,000 homebuying budget would get for each U.S. state as of March 2023, and it’s no surprise that Oregon was in the bottom 10 for people looking for a home on a fixed budget.
As of March 2023, the average home value in Oregon was $491,195. When GoBankingRates researchers divided that by the $300,000 budget, they found that potential homeowners would only get 61.08% of the home.
It was worse in Washington, which had an average home value of $576,090 in March 2023, and a $300,000 budget would only get 52.08% of the home.
Here are the worst states for the supposed $300,000 budget, according to researchers at the personal finance website.
- Idaho
- New Hampshire
- New Jersey
- Oregon
- Utah
- Colorado
- Washington
- Massachusetts
- California
- Hawaii
As for the best states for this $300,000 budget?
- West Virginia
- Mississippi
- Arkansas
- Louisiana
- Kentucky
- Oklahoma
- Iowa
- Alabama
- Ohio
- Kansas