Differences between the North and South USA real estate prices

Differences between the North and South USA real estate prices

Statistics show that it is cheaper to live in the north of the United States than in the south where the weather is much better, in light of housing costs. In the South, the weather is more favorable and a lot of costs are from natural gas heating when it is winter. However, during severe weather such as tornados, hurricanes, etc., houses can also get damaged.

On the other hand, the northern part of the US is mostly cold. The price of heating oil to provide warmth is quite high and can be higher depending on how severe the season is. Besides, you will spend more on clothing in the North because of the severe weather.

If you want to buy a house in the Northern or Southern part of the USA, you should see online auction house market business on US-Reviews to know more about the auction and how you can benefit. You would also get to know which auctions are reliable and those that you should avoid. Here are the states where you can get cheaper housing in the United States:

West Virginia

The state has about 1.8 million people and large industries in tourism and natural resources. The capital of the state is Charleston and the largest metropolitan area is Huntington-Ashland. The median home value is a little over $1,100 and you can buy the cheapest houses in cities such as Beckley, Huntington, Bluefield, Clarksburg, etc.

Mississippi

The state is home to about 3 million people, with manufacturing and agriculture as the largest industries in the state. The capital is the city of Jackson and also doubles as the largest metropolitan area. The average rent is $1200 and the cheapest cities to buy houses are Greenville, Jackson, Meridian, Gulfport, etc.

Oklahoma

This ranks number 28 on the list of populated states in America. The state’s economy is powered by natural resources, agriculture, and manufacturing. The average rent for a house is $1,095 and the cheapest places to buy a house are Lawton, Enid, Shawnee, Muskogee, etc.

Arkansas

The economy is driven by agriculture and tourism, and more than 3 million people live in the state. The price in the real estate industry changes by almost 25% in 5 years while the average rent is $995. You can get the cheapest houses in places like Pine Bluff, Texarkana, Fort Smith, etc.

Some of the most expensive places for real estate prices are:

New York

The first expensive place to live, in terms of housing and living costs, is New York City. The city has almost 8.5 million people and the cost of living in many of the cities is higher than the national average. As opposed to other places where the median values of homes total a little over $100,000 and $200,000 respectively, the city of Manhattan easily exceeds $1 million. Besides, everything costs more from public transport to groceries and this affects the real estate industry.

Hawaii

Residents in this state, especially in the capital, Honolulu, pay more for everything, including housing. Groceries and utilities cost more than the national average, real estate prices increase now and then, but paychecks largely remain the same. Living in the expensive cities in the US demand a lot of resources from you, and you may have to rethink your decision if it’s above your capacity.