Monthly Housing Costs Highest in California

September 22, 2009 No Comments »

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Median selected monthly housing costs, which include mortgage payments, taxes, insurance, utilities, were highest in California last year, according to data released by the U.S. Census Bureau.

The Golden State had median monthly housing costs of $2,384, followed by New Jersey ($2,360) and Hawaii ($2,265).

Washington D.C. ($2,218), Connecticut ($2,108), and Massachusetts ($2,105) rounded out the top six most expensive states.

Selected monthly housing costs were lowest in West Virginia, at just $878, followed by Arkansas ($964) and Mississippi ($1,014).

Kentucky ($1,055), Oklahoma ($1,064), and Alabama ($1,089) rounded out the top six least expensive states.

The median selected monthly housing cost (inflation adjusted) rose in nine states between 2007 and 2008 and declined in eight.

Costs were up in Hawaii, Montana, Utah, Washington, Wyoming, Connecticut, Maryland, Pennsylvania, and Mississippi.

Costs were down in Florida, North Carolina, South Carolina, Texas, West Virginia, Michigan, Missouri, and Ohio.

The highest median value of an owner-occupied home was in Hawaii ($560,200), followed by Washington D.C. ($474,100) and California ($467,000).

The lowest median was in West Virginia ($95,900), followed by Mississippi ($99,700) and Arkansas ($105,700).

The percentage change in the median fell just two percent nationally from 2007 to 2008, and seven states actually saw increases.

However, 22 saw declines, with Nevada (-16 percent), California (-15.5), and Florida (-8.6 percent) faring the worst.

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