The States With The Highest Increase In House Prices

  • Idaho takes first place with a whopping increase of 78.7%
  • Nevada and Washington are second and third, with an increase of 74.2% and 64.9%
  • The state with the lowest increase is Illinois, with an increase of 16.1%

Idaho is the state with the highest increase in house prices, a new study by online self-storage finder SelfStorage reveals.

Top 10 States With The Highest Increase In House Prices

The study compared average prices over two periods using Zillow’s average house price in 2012-2016 and 2017-2022 to see the increase.

Idaho

Idaho takes first place with a whopping increase of 78.7%. The state’s average house price from 2012 to 2016 was $152,221.50, compared to the average from 2017 to 2022, which is $272,019.10, a difference of $119,797.60, which makes Idaho the state with the largest percentage increase in average house price.

Nevada

Second on the list is Nevada with an increase of 74.2%. The average house price in the state from 2012 to 2016 was $195,660.70, while from 2017 to 2022 it was $340,779.60, for a difference of $145,118.90.

Washington

Washington comes in third with a house price increase of 64.9%. While the average from 2012 to 2016 was $209,646.7, from 2017 to 2022 it was $345,726.80, an increase of $136,080.10.

Utah And Oregon 

Further down on the list, Utah is fourth with a price increase of 64.7%, while Oregon closes the top five with an increase of 61.2%

California And Colorado 

Utah’s new average from 2017 to 2022, of $396,824.30, is the third highest price on the list after California on $492,381 and Colorado with $431,629.70.

RankState NameAvg

 

2012-2016 ($)

Avg

 

2017-2022 ($)

% Change avg 2012-2016 – avg 2017-2022
1Idaho152,221.5272,019.178.7%
2Nevada195,660.7340,779.674.2%
3Washington209,646.7345,726.864.9%
4Utah240,880.6396,824.364.7%
5Oregon197,068.9317,739.361.2%
6Arizona169,242.8272,724.861.1%
7Montana204,669.3323,713.858.2%
8Tennessee121,507.6189,830.556.2%
9California318,510.7492,38154.6%
10Colorado279,499.1431,629.754.4%

A spokesperson for SelfStorage commented on the findings: “House prices have increased at a rapid rate during the last few years, making it harder and harder for newer generations to purchase a home.”

“Whilst it is a negative for those looking to buy a home; the residents of these areas above All states listed in the top 10 are way above the national average of an increase of 38.6%. Moreover, the study underlines the strong differences in parts of America, as most of the states cited are located on the West Coast.”.