The three-bedroom house is something of a standard for many American families. They’re a great fit for a family of four, but those bedrooms can just as easily become home offices, gyms, art studios or whatever else you can imagine should you live alone or be an empty nester. If you want enough space for your family but don’t want to buy too much house, three bedrooms can be that simple compromise that splits the difference.
But a three-bedroom home is not the same everywhere you go. Depending on the state you call home, the typical three-bedroom house can list at anywhere from about $125,000 to more than $740,000. That’s why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.
The states are ranked based on the average monthly mortgage payment for three-bedroom homes — from least to most expensive. For additional context, GOBankingRates included a variety of other important factors that affect overall affordability, like the average size of a 20% down payment and the average effective property tax rate.
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Arkansas
Average 3-bedroom home value: $169,551
20% down payment: $33,910
Average effective state property tax: 0.64%
Monthly mortgage payment: $659
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Louisiana
Average 3-bedroom home value: $175,923
20% down payment: $35,185
Average effective state property tax: 0.52%
Monthly mortgage payment: $667
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Kentucky
Average 3-bedroom home value: $165,738
20% down payment: $33,148
Average effective state property tax: 0.82%
Monthly mortgage payment: $669
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Indiana
Average 3-bedroom home value: $177,884
20% down payment: $35,577
Average effective state property tax: 0.87%
Monthly mortgage payment: $726
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Kansas
Average 3-bedroom home value: $169,190
20% down payment: $33,838
Average effective state property tax: 1.33%
Monthly mortgage payment: $755
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Iowa
Average 3-bedroom home value: $168,625
20% down payment: $33,725
Average effective state property tax: 1.50%
Monthly mortgage payment: $777
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Microsoft and partners may be compensated if you purchase something through recommended links in this article.
South Carolina
Average 3-bedroom home value: $208,374
20% down payment: $41,675
Average effective state property tax: 0.56%
Monthly mortgage payment: $796
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Missouri
Average 3-bedroom home value: $191,056
20% down payment: $38,211
Average effective state property tax: 1.01%
Monthly mortgage payment: $802
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Georgia
Average 3-bedroom home value: $209,899
20% down payment: $41,980
Average effective state property tax: 0.92%
Monthly mortgage payment: $865
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Tennessee
Average 3-bedroom home value: $221,364
20% down payment: $44,273
Average effective state property tax: 0.73%
Monthly mortgage payment: $877
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Michigan
Average 3-bedroom home value: $199,226
20% down payment: $39,845
Average effective state property tax: 1.44%
Monthly mortgage payment: $908
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North Carolina
Average 3-bedroom home value: $223,591
20% down payment: $44,718
Average effective state property tax: 0.85%
Monthly mortgage payment: $909
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North Dakota
Average 3-bedroom home value: $220,227
20% down payment: $44,045
Average effective state property tax: 0.95%
Monthly mortgage payment: $913
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New Mexico
Average 3-bedroom home value: $240,283
20% down payment: $48,057
Average effective state property tax: 0.68%
Monthly mortgage payment: $942
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Pennsylvania
Average 3-bedroom home value: $212,270
20% down payment: $42,454
Average effective state property tax: 1.51%
Monthly mortgage payment: $979
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Nebraska
Average 3-bedroom home value: $209,383
20% down payment: $41,877
Average effective state property tax: 1.65%
Monthly mortgage payment: $991
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Wyoming
Average 3-bedroom home value: $262,113
20% down payment: $52,423
Average effective state property tax: 0.55%
Monthly mortgage payment: $1,000
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New York
Average 3-bedroom home value: $226,773
20% down payment: $45,355
Average effective state property tax: 1.40%
Monthly mortgage payment: $1,026
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Delaware
Average 3-bedroom home value: $267,790
20% down payment: $53,558
Average effective state property tax: 0.58%
Monthly mortgage payment: $1,028
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Texas
Average 3-bedroom home value: $220,161
20% down payment: $44,032
Average effective state property tax: 1.69%
Monthly mortgage payment: $1,049
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Wisconsin
Average 3-bedroom home value: $224,048
20% down payment: $44,810
Average effective state property tax: 1.73%
Monthly mortgage payment: $1,075
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Virginia
Average 3-bedroom home value: $268,612
20% down payment: $53,722
Average effective state property tax: 0.86%
Monthly mortgage payment: $1,094
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Illinois
Average 3-bedroom home value: $219,271
20% down payment: $43,854
Average effective state property tax: 2.05%
Monthly mortgage payment: $1,110
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Minnesota
Average 3-bedroom home value: $287,545
20% down payment: $57,509
Average effective state property tax: 1.11%
Monthly mortgage payment: $1,231
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Arizona
Average 3-bedroom home value: $317,917
20% down payment: $63,583
Average effective state property tax: 0.67%
Monthly mortgage payment: $1,244
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Nevada
Average 3-bedroom home value: $334,516
20% down payment: $66,903
Average effective state property tax: 0.66%
Monthly mortgage payment: $1,306
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Alaska
Average 3-bedroom home value: $315,024
20% down payment: $63,005
Average effective state property tax: 1.02%
Monthly mortgage payment: $1,325
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Maryland
Average 3-bedroom home value: $314,616
20% down payment: $62,923
Average effective state property tax: 1.04%
Monthly mortgage payment: $1,328
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Maine
Average 3-bedroom home value: $300,866
20% down payment: $60,173
Average effective state property tax: 1.27%
Monthly mortgage payment: $1,328
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Montana
Average 3-bedroom home value: $352,539
20% down payment: $70,508
Average effective state property tax: 0.76%
Monthly mortgage payment: $1,406
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Vermont
Average 3-bedroom home value: $293,436
20% down payment: $58,687
Average effective state property tax: 1.80%
Monthly mortgage payment: $1,425
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Connecticut
Average 3-bedroom home value: $298,666
20% down payment: $59,733
Average effective state property tax: 1.70%
Monthly mortgage payment: $1,425
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Idaho
Average 3-bedroom home value: $374,655
20% down payment: $74,931
Average effective state property tax: 0.75%
Monthly mortgage payment: $1,491
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Microsoft and partners may be compensated if you purchase something through recommended links in this article.
Rhode Island
Average 3-bedroom home value: $357,928
20% down payment: $71,586
Average effective state property tax: 1.53%
Monthly mortgage payment: $1,657
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Oregon
Average 3-bedroom home value: $407,724
20% down payment: $81,545
Average effective state property tax: 0.98%
Monthly mortgage payment: $1,701
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Colorado
Average 3-bedroom home value: $448,399
20% down payment: $89,680
Average effective state property tax: 0.56%
Monthly mortgage payment: $1,714
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New Hampshire
Average 3-bedroom home value: $364,106
20% down payment: $72,821
Average effective state property tax: 2.03%
Monthly mortgage payment: $1,838
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New Jersey
Average 3-bedroom home value: $362,709
20% down payment: $72,542
Average effective state property tax: 2.21%
Monthly mortgage payment: $1,885
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Washington
Average 3-bedroom home value: $476,105
20% down payment: $95,221
Average effective state property tax: 0.92%
Monthly mortgage payment: $1,963
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Massachusetts
Average 3-bedroom home value: $473,526
20% down payment: $94,705
Average effective state property tax: 1.15%
Monthly mortgage payment: $2,043
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California
Average 3-bedroom home value: $614,576
20% down payment: $122,915
Average effective state property tax: 0.74%
Monthly mortgage payment: $2,441
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Hawaii
Average 3-bedroom home value: $740,227
20% down payment: $148,045
Average effective state property tax: 0.30%
Monthly mortgage payment: $2,669
More From GOBankingRates
Jami Farkas contributed to the reporting for this article.
Methodology: GOBankingRates determined the cost to own a three-bedroom home in every state by analyzing all 50 U.S. states along the following criteria: (1) average home value for a three-bedroom home, sourced from Zillow’s April 2021 index; (2) monthly mortgage payment, using Zillow’s mortgage calculator and based on the April 2021 average home value for a three-bedroom home, 20% down payment, the average state effective property tax sourced from the Tax Foundation and a 2.96% 30-year fixed mortgage, which is the current national average mortgage rate as of May 6, 2021, sourced from the Federal Reserve Bank of St. Louis; and (3) annual mortgage payment calculated by multiplying factor (2) by twelve. States were ranked by factor (2) with the lowest payment being best. All data compiled on June 15, 2021.
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