What Rate Shoppers Say Their Homes Are Worth: A $350,000 National Median Across All 50 States
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We asked people what their homes are worth. Well, sort of. Over the past year, people shopping for a mortgage or home equity loan on FreeRateUpdate typed a home value into the rate form 524,808 times. Put all those answers in order and the one in the middle is $350,000.
Every state had enough answers to get its own number. So did DC. You can see all 51 in the table.
Keep in mind these are the owners’ own guesses, nobody came out and appraised the houses. A price index looks at what homes sold for. This looks at what people think their home is worth while they’re shopping for a loan. And since everyone here was shopping for a loan it’s really the homeowners who were out looking, not every homeowner in America.
Every state, highest to lowest
| State | Median reported home value | Sample (rate-shopper reports) |
|---|---|---|
| Hawaii | $840,000 | 2,564 |
| California | $700,000 | 47,715 |
| Massachusetts | $620,000 | 8,987 |
| District of Columbia | $600,000 | 550 |
| New Jersey | $560,000 | 12,958 |
| Utah | $560,000 | 4,572 |
| Washington | $560,000 | 11,760 |
| Colorado | $520,000 | 8,511 |
| New York | $520,000 | 14,431 |
| New Hampshire | $480,000 | 2,897 |
| Rhode Island | $480,000 | 2,036 |
| Oregon | $460,000 | 7,386 |
| Nevada | $450,000 | 6,496 |
| Idaho | $440,000 | 3,672 |
| Montana | $440,000 | 2,063 |
| Connecticut | $420,000 | 5,386 |
| Maryland | $420,000 | 9,972 |
| Arizona | $400,000 | 14,264 |
| Alaska | $396,000 | 1,138 |
| Delaware | $380,000 | 2,542 |
| Virginia | $380,000 | 15,690 |
| Florida | $370,000 | 45,245 |
| Vermont | $360,000 | 982 |
| Maine | $350,000 | 2,471 |
| Minnesota | $340,000 | 6,274 |
| Wyoming | $340,000 | 1,232 |
| Georgia | $330,000 | 21,058 |
| North Carolina | $320,000 | 23,149 |
| South Dakota | $320,000 | 1,001 |
| Tennessee | $320,000 | 15,006 |
| New Mexico | $310,000 | 3,946 |
| South Carolina | $310,000 | 13,204 |
| Texas | $310,000 | 41,126 |
| Wisconsin | $300,000 | 7,778 |
| Pennsylvania | $290,000 | 19,938 |
| Illinois | $289,000 | 15,635 |
| North Dakota | $280,000 | 767 |
| Missouri | $260,000 | 10,364 |
| Nebraska | $260,000 | 2,518 |
| Alabama | $250,000 | 10,849 |
| Indiana | $250,000 | 12,741 |
| Kansas | $250,000 | 3,932 |
| Michigan | $250,000 | 15,670 |
| Kentucky | $240,000 | 8,485 |
| Ohio | $240,000 | 20,028 |
| Oklahoma | $230,000 | 7,240 |
| Arkansas | $220,000 | 6,201 |
| Iowa | $220,000 | 4,337 |
| Louisiana | $220,000 | 7,578 |
| Mississippi | $210,000 | 6,293 |
| West Virginia | $200,000 | 4,093 |
| United States | $350,000 | 524,808 |
Hawaii is way ahead
Hawaii comes in at $840,000, the top by a lot, with California next at $700,000, which is $140,000 less. After that you’ve got Massachusetts at $620,000, DC at $600,000, and then New Jersey, Utah and Washington all tied at $560,000. West Virginia is lowest at $200,000, less than a quarter of Hawaii. Maine is right in the middle, exactly on the national number.
The Midwest is under the line
This part surprised us a little. There are 12 Midwest states, and not one of them is above $350,000. The West is almost the opposite. Eleven of its 13 states are above it, and the only two that aren’t are New Mexico at $310,000 and Wyoming at $340,000. The Northeast leans high as well, apart from Pennsylvania at $290,000 and Maine sitting right on the median. In the South it depends where you look. Florida, Maryland, Virginia, Delaware and DC come in above the national number and the rest of the region comes in under it.
Check how many people answered
Some states have a lot more answers than others. Hawaii’s number comes from 2,564 answers. California’s comes from 47,715, which is more than 18 times as many. DC has the fewest at 550, and 16 states have under 4,000. Numbers from smaller groups tend to bounce around from month to month. So if you quote one of those states, say how many answers it’s based on.
Lots of shoppers doesn’t mean high prices
California, Florida and Texas sent in the most answers, with 47,715, 45,245 and 41,126. But of the 10 busiest states, 7 are below the national number: Texas, North Carolina, Georgia, Ohio, Pennsylvania, Michigan and Illinois. California is the only state in the top 10 for both. People shop for rates where people live. That’s not always where homes cost the most.
Your guess vs. the appraisal
When you refinance or take out a home equity loan, the lender will usually want an appraisal. That number, not yours, decides your loan to value. That affects the rate you get and whether you have to pay mortgage insurance. So use these numbers to get a feel for where you stand. Just know your appraisal will depend on your own house and street much more than on your state.
Where this comes from: home values people typed in on FreeRateUpdate.com while shopping for mortgage or home equity rates, September 1, 2025 through September 1, 2026. Updated every month. See freerateupdate.com/home-values for the national number and every state.
