- 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.
A new study has revealed the states where house prices rose the least over the past five years.
State With The Smallest Rise In House Prices
Q4 2022 hedge fund letters, conferences and more
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
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.”
