There are a lot of great things about Iowa. From the friendly folks to the small towns and everything in between, there is a lot to love about the Hawkeye state.

As a former resident of the state, it caught my eye to see a recent article from CNBC that made Iowa stand out amongst the rest of the country in one key area.

Iowa is listed as the cheapest state to purchase a home in per the study.

I can attest that real estate values in Iowa are great, and CNBC all but confirms why the state is the easiest to settle down and buy home in:

Median home price: $147,800

Median household income: $79,500

Estimated monthly mortgage payment: $702

Percentage income to PMT: 10.6%

Iowa came in at the top of the list with the lowest average median household income it takes to be able to afford a house.

The largest housing markets in the Midwestern state include Des Moines, Iowa City, and Cedar Rapids.

Here is the top 10 list of cheapest states to buy a home in, with several midwest states making the cut:

  1. Iowa
  2. Indiana
  3. Ohio
  4. Nebraska
  5. Kansas
  6. Mississippi
  7. West Virginia
  8. Oklahoma
  9. Michigan
  10. Arkansas

It's clear that our region of the country is desirable, and that many folks who have long thought the big city was the place to be maybe have changed their tune of late.

Per Wikipedia, the population of the Hawkeye state has grown considerably since the turn of the century, from roughly 2.926 million to 3.190 million in 2020.


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