Massachusetts among states where house prices have increased the least in the past five years

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New study names Massachusetts among states where house prices have increased the least in the past five years

  • House prices in North Dakota have risen 22.7% in the past five years, the lowest increase of any state.
  • Louisiana and Alaska have had the second and third lowest rise in house prices in the last five years respectively.
  • Massachusetts ranks tenth, with house prices having an increase of 40.9% since 2018.

A new study has revealed the states where house prices rose the least over the past five years.

The research by Boulder Home Source analyzed data from Zillow for the past five years, across all fifty states to determine which state had seen the smallest rise in house prices.

The data revealed that the state with the smallest increase in house prices is North Dakota. There has been just a 22.7% increase in house prices in the past five years in North Dakota. The average house price in the state is currently $238,509.Louisiana has seen the second lowest increase in house prices out of all fifty states. The average house price in Louisiana is now $186,795 after increasing 23.6% in the past five years.

The state with the third lowest increase in house prices is Alaska. The average house price in Alaska is $336,015 after increasing 26.7% since 2018.

In Maryland, there has been a 33.9% rise in house prices over the last five years, making the state have the fourth smallest increase in house prices. House prices in Maryland currently average at $382,154.

Mississippi has the fifth lowest increase in house prices, rising 36.7% to an average of $163,052 in the past five years.

Illinois and New York rank sixth and seventh respectively. Illinois house prices have risen 37.3% in the past five years, the sixth lowest increase of any state. In New York, there has been a 39.3% rise in house prices over the past five years, with New York house prices currently sitting at an average of $629,516.

Connecticut follows closely behind New York, as the state with the eighth-smallest increase in house prices. The average house price in Connecticut is $350,651 as of 2023 after rising 39.4% in the past five years.

West Virginia has had the ninth lowest increase in house prices, rising 40.0% in the past five years to an average of $144,330. Massachusetts ranks as the state with the tenth smallest increase in house prices in the past five years, rising by 40.9%.

The states where house prices have increased the least in the past five years
State Rank Increase in house price over the past five years
North Dakota 1 22.7%
Louisiana 2 23.6 %
Alaska 3 26.7%
Maryland 4 33.9%
Mississippi 5 36.7%
Illinois 6 37.3%
New York 7 39.3%
Connecticut 8 39.4%
West Virginia 9 40.0%
Massachusetts 10 40.9%

 

Commenting on the findings, a spokesperson from Boulder Home Source said: “The past five years has seen the housing market experience a lot of turbulence, leading to increases in house prices across America. However, this study offers a fascinating insight into the states where prices are less likely to experience volatile increases and are more likely to remain relatively stable. This can serve as a useful guide to anyone looking to buy property in the next coming months or year.”

State Rank Increase in

house prices over the

past five years

North Dakota 1 22.7%
Louisiana 2 23.6%
Alaska 3 26.7%
Maryland 4 33.9%
Mississippi 5 36.7%
Illinois 6 37.3%
New York 7 39.3%
Connecticut 8 39.4%
West Virginia 9 40.0%
Massachusetts 10 40.9%
Virginia 11 41.9%
Wyoming 12 42.6%
Minnesota 13 42.9%
Hawaii 14 44.0%
New Jersey 15 44.9%
California 16 45.6%
Arkansas 17 46.3%
Pennsylvania 18 46.6%
Oregon 19 46.9%
Iowa 20 47.3%
Colorado 21 48.6%
Wisconsin 22 49.4%
Rhode Island 23 49.5%
Kentucky 24 50.8%
Nebraska 25 50.9%
Michigan 26 53.7%
Vermont 27 53.9%
Nevada 28 54.1%
Ohio 29 54.3%
Alabama 30 55.8%
Texas 31 55.9%
South Dakota 32 56.3%
Missouri 33 57.1%
Washington 34 57.6%
Oklahoma 35 59.0%
Indiana 36 60.8%
New Hampshire 37 63.7%
Kansas 38 64.7%
South Carolina 39 65.0%
Delaware 40 67.1%
Utah 41 68.9%
Maine 42 70.4%
North Carolina 43 72.2%
Florida 44 73.5%
Arizona 45 74.6%
Tennessee 46 75.8%
New Mexico 47 76.2%
Georgia 48 76.5%
Montana 49 79.4%
Idaho 50 91.9%

 

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