Though interest rates have dropped recently, real estate prices continue to be frustratingly high. Some states have even seen prices increase more than 75 percent over the last five years. A recent study by Pro Tool Reviews reveals the U.S. states where home prices have increased the most dramatically.
Maine tops the list of states where home prices have increased the most. In five years, the median house price has increased 78.5%, from $219,000 to $391,000. The capital city of Augusta has seen the biggest increase in house prices.
Coming in at number two is New Hampshire. The state has seen an increase of 76.4 percent increase in house prices over the past five years, with the median price of $274,200 rising to $483,800. New Hampshire also ranks among the states with the highest down payments, with the average of $72,750.
A third New England state, Rhode Island, ranks as the state with the third highest increase in house prices. The median house price rose from $278,600 to $483,300, an increase of more than 73 percent.
The remaining states that make up the top 10 with the highest house price increases are Idaho, Arizona, Connecticut, Vermont, New Jersey, Florida and Tennessee.
On the other hand, the states that have seen the lowest increase in house prices are Louisiana, New York, Iowa, Illinois and Alaska. The most affordable states to buy a house are Louisiana, Texas, Oklahoma, Mississippi and Indiana.
Find the full report—plus more insights about home prices—here.