How Much the Average Condo Costs in All 50 States

Gina Hagler

30 June 2024 at 7:00 am·6-min read

Looking to make a real estate investment? A condo could be a good choice. Condos are not only a single unit in a larger building, but also generally less expensive than a single-family home. Here are additional advantages to a condo, as well as how much the average condo costs in all 50 states.

Advantages to Condos

You can purchase a condo as a vacation home, and rent it out during the seasons you aren’t there, which will provide you with passive income. Condos usually have lower insurance rates, as the coverage doesn’t involve the entire structure like it would with a duplex. Because outdoor maintenance is overseen by the homeowner’s association (HOA), you really only need to concern yourself with the interior.

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Not needing to worry about the exterior can make for a simpler investment, particularly if you’re a first-time homebuyer. You also have the benefit of shared amenities that you don’t have to pay for, but are likely part of the HOA fee. Condominiums can also provide you the benefit of staff and security. If you are someone who appreciates being within a gated area for your peace of mind, this is something to consider.

Alabama

Average Condo Price: $344,066

Average Take-Home Salary: $43,447

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Alaska

Average Condo Price: $211,411

Average Take-Home Salary: $64,221

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DenisTangneyJr / Getty Images/iStockphoto

Arizona

Average Condo Price: $286,914

Average Take-Home Salary: $52,786

Arkansas

Average Condo Price: $232,519

Average Take-Home Salary: $41,352

California

Average Condo Price: $660,626

Average Take-Home Salary: $62,525

Muhammad Zulkifal / Getty Images/iStockphoto

Colorado

Average Condo Price: $413,926

Average Take-Home Salary: $61,090

Connecticut

Average Condo Price: $269,537

Average Take-Home Salary: $62,387

Delaware

Average Condo Price: $414,158

Average Take-Home Salary: $55,332

Florida

Average Condo Price: $307,612

Average Take-Home Salary: $51,200

Jacob Boomsma / Getty Images/iStockphoto

Georgia

Average Condo Price: $293,950

Average Take-Home Salary: $50,232

Hawaii

Average Condo Price: $576,898

Average Take-Home Salary: $63,318

christiannafzger / Getty Images/iStockphoto

Idaho

Average Condo Price: $414,963

Average Take-Home Salary: $49,401

Illinois

Average Condo Price: $236,714

Average Take-Home Salary: $55,196

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Indiana

Average Condo Price: $223,701

Average Take-Home Salary: $49,366

Iowa

Average Condo Price: $177,024

Average Take-Home Salary: $50,455

Kansas

Average Condo Price: $194,821

Average Take-Home Salary: $50,109

Kentucky

Average Condo Price: $206,262

Average Take-Home Salary: $44,069

Louisiana

Average Condo Price: $164,984

Average Take-Home Salary: $43,230

Maine

Average Condo Price: $431,115

Average Take-Home Salary: $49,016

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Maryland

Average Condo Price: $289,363

Average Take-Home Salary: $67,883

Massachusetts

Average Condo Price: $526,528

Average Take-Home Salary: $65,919

Michigan

Average Condo Price: $264,200

Average Take-Home Salary: $49,516

Minnesota

Average Condo Price: $217,853

Average Take-Home Salary: $58,405

SeanPavonePhoto / Getty Images/iStockphoto

Mississippi

Average Condo Price: $242,117

Average Take-Home Salary: $39,502

Missouri

Average Condo Price: $217,441

Average Take-Home Salary: $48,320

Montana

Average Condo Price: $437,505

Average Take-Home Salary: $47,152

See Here: 8 Places Where Houses Are Suddenly Major Bargains

Nebraska

Average Condo Price: $227,222

Average Take-Home Salary: $51,573

Nevada

Average Condo Price: $257,073.

Average Take-Home Salary: $53,950

New Hampshire

Average Condo Price: $379,565

Average Take-Home Salary: $66,446

New Jersey

Average Condo Price: $405,377

Average Take-Home Salary: $67,256

New Mexico

Average Condo Price: $274,097

Average Take-Home Salary: $43,554

New York

Average Condo Price: $598,743

Average Take-Home Salary: $56,897

North Carolina

Average Condo Price: $291,886

Average Take-Home Salary: $48,044

North Dakota

Average Condo Price: $186,822

Average Take-Home Salary: $54,925

Ohio

Average Condo Price: $209,164

Average Take-Home Salary: $50,208

Oklahoma

Average Condo Price: $129,707

Average Take-Home Salary: $45,431

Oregon

Average Condo Price: $334,634

Average Take-Home Salary: $51,380

Pennsylvania

Average Condo Price: $250,334

Average Take-Home Salary: $53,212

Rhode Island

Average Condo Price: $363,973

Average Take-Home Salary: $57,698

digidreamgrafix / Getty Images/iStockphoto

South Carolina

Average Condo Price: $279,889.

Average Take-Home Salary: $46,048

South Dakota

Average Condo Price: $259,852

Average Take-Home Salary: $52,707

Tennessee

Average Condo Price: $331,104,

Average Take-Home Salary: $48,900

Texas

Average Condo Price: $254,200

Average Take-Home Salary: $55,100

Utah

Average Condo Price: $405,957

Average Take-Home Salary: $59,530

Learn More: The 50 Happiest States in America and How Much It Costs to Live There

Vermont

Average Condo Price: $367,440

Average Take-Home Salary: $52,631

Virginia

Average Condo Price: $337,807

Average Take-Home Salary: $60,333

Washington

Average Condo Price: $447,887

Average Take-Home Salary: $65,707

West Virginia

Average Condo Price: $170,689

Average Take-Home Salary: $40,539

Wisconsin

Average Condo Price: $265,941

Average Take-Home Salary: $52,307

Wyoming

Average Condo Price: $495,563

Average Take-Home Salary: $55,579

Methodology: In order to find the average condo price per state, GOBankingRates analyzed each U.S. state for a variety of factors including; average take home salary sourced from The Census Bureau, median home price by Forbes, condo and home data from Zillow, and various data from SoFi and other sources. All data was collected and is up to date as of June 28, 2024.

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This article originally appeared on GOBankingRates.com: How Much the Average Condo Costs in All 50 States

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