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New York Post
Home prices have risen a whopping 79% in five years in this state — and it’s nowhere near Florida or Texas
By Hannah Frishberg,
4 hours ago
The cold never bothered them anyway.
Homebuyers are grabbing their winter gear and flocking to far-flung Maine — where they’ve managed to drive up the median home price a bone-chilling 78.5% in just five short years, a new report reveals.
The explosive growth comes in spite of the fact that Maine’s population has trickled upward a mere 0.32% since 2008, according to research conducted by Pew Charitable Trust — well below states like Texas (1.52%) and Florida (1.34%), better known for their heated housing markets in recent years .
Maine’s tiny capital, Augusta, experienced the most dramatic change, according to the report.
Neighboring New Hampshire slid into second place on the list, experiencing a 76.4% rise in average residential real estate prices since 2019.
The new wave of northern New England homesteaders don’t appear to be struggling to make their purchases either — The Granite State ranked highest for size of downpayment, boasting $72,750 on average.
Maine is home to one of the world’s most upscale McDonald’s, in the town of Kennebunk. Locations of the Golden Arches in the state are known for serving lobster rolls, the local specialty. Google Reviews
Another state in the region took third place on the overall list — Rhode Island, which experienced a 73% jump.
Meanwhile, the most affordable state for homebuyers right now is Louisiana, where the median home price is just $254,000, researchers revealed.
Texas took second place, followed by Oklahoma, Mississippi and Indiana rounding out the top five.
In a ranking of the most affordable housing markets in the country overall in 2024, Louisiana came in at number one. Bloomberg via Getty Images
In determining what “most affordable” means, Pro Tool Reviews took into account not just the median home price (in which case Oklahoma would take first, with its $240,300 median price tag) but also the average salary, average down payment and the amount of homes in the state that sell for more than their asking price.
“Only 13% of homes in Louisiana sell for over the list price,” the report analysis commented of the Bayou State, where the average salary is $54,134.08,
“This represents the fourth-lowest figure of all states analyzed — 27.3% of homes in the state have their list price lowered before being sold,” researchers said.
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