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A surge in demand for homes in the United States, in addition to limited housing inventory, has created a sellers market unlike anything seen in recent memory. Homes are now selling faster than ever before -- and also for more money than ever before.

As of August 2021, a typical single-family home in the United States costs $303,288. Of course, home values are not uniform across the country, and in some states, the typical home costs far more than the national average -- while in others, homes cost far less.

According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Mississippi is $144,074, lower than the national average.

Across Mississippi, the value of a single-family home across increased by 9.8% over the one year period from August 2020 to August 2021, compared to the national one-year home value appreciation of 17.7%.

Housing prices are determined by supply and demand forces as well as what local residents are willing to pay -- and that is influenced largely by what they can afford. As a result, areas with higher than average home values often also have higher-income residents. Mississippi is no exception. The typical household in the state earns $45,792 annually, $19,900 less than the national median household income of $65,712.

This is How Much Home You Can Buy For 200K in Every State

RankStateValue of a typical single-family home1-yr. increase in home valueMedian household income
1Hawaii$764,14614.5%$83,102
2California$708,93621.9%$80,440
3Massachusetts$533,44018.5%$85,843
4Washington$542,01222.8%$78,687
5Colorado$509,80020.3%$77,127
6Oregon$468,95320.7%$67,058
7Utah$493,22128.5%$75,780
8New Jersey$421,12418.9%$85,751
9New York$363,99014.2%$72,108
10Idaho$427,41036.0%$60,999
11Maryland$373,26414.7%$86,738
12Rhode Island$387,69321.5%$71,169
13Nevada$389,39723.8%$63,276
14New Hampshire$381,97821.8%$77,933
15Montana$374,98022.7%$57,153
16Arizona$376,36930.7%$62,055
17Virginia$335,19812.7%$76,456
18Alaska$304,9084.1%$75,463
19Connecticut$326,12420.7%$78,833
20Delaware$317,98516.5%$70,176
21Minnesota$307,64413.4%$74,593
22Vermont$308,30012.9%$63,001
23Maine$318,62822.7%$58,924
24Florida$313,21720.1%$59,227
25Wyoming$279,4496.4%$65,003
26North Dakota$252,7886.4%$64,577
27New Mexico$253,79017.8%$51,945
28North Carolina$260,59719.0%$57,341
29South Dakota$249,31411.9%$59,533
30Texas$257,62818.1%$64,034
31Georgia$256,96218.6%$61,980
32Illinois$239,40813.3%$69,187
33Pennsylvania$240,65816.2%$63,463
34Wisconsin$236,55114.6%$64,168
35Tennessee$241,62617.4%$56,071
36South Carolina$236,34415.7%$56,227
37Nebraska$210,58512.5%$63,229
38Michigan$214,23117.4%$59,584
39Missouri$198,83814.8%$57,409
40Louisiana$193,1148.7%$51,073
41Indiana$191,05414.8%$57,603
42Ohio$186,21115.3%$58,642
43Kansas$180,91412.5%$62,087
44Kentucky$172,43311.6%$52,295
45Iowa$168,5457.7%$61,691
46Alabama$175,58613.7%$51,734
47Arkansas$153,26312.2%$48,952
48Oklahoma$155,01211.9%$54,449
49Mississippi$144,0749.8%$45,792
50West Virginia$118,5818.2%$48,850

This article originally ran on 247wallst.com.

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