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Study finds Missouri is one of cheapest states for purchasing a home

The Show Me State ranked No. 8 overall
Credit: Getty Images/iStockphoto

ST. LOUIS — Missouri is one of the cheapest states in which to buy a home.

That’s according to a recent study by financial technology company SmartAsset that analyzed data for all 50 states and D.C. on metrics including median listing price and average closing costs to find the cheapest places to buy a home.

The Show Me State, which ranked No. 8 overall, has the fourth-lowest average closing costs ($2,656), the seventh-lowest median listing price ($186,000) and eighth-lowest median listing price per square foot ($120).

West Virginia ranked first on the list. Arkansas, Alabama, Mississippi, Indiana, Oklahoma, Kentucky, Louisiana and Ohio were the other top 10 cheapest states in which to buy a home.

Kansas just missed the top 10. Ranking 13th overall, the Sunflower State has the sixth-lowest median listing price ($180,000) and ties with Missouri for the eighth-lowest median listing price per square foot ($120).

Illinois came in at No. 30, tied with Florida based on SmartAsset's index. The Prairie State's median listing price ($229,900) was 17th lowest.

RELATED: Beyond the List: A snapshot of St. Louis' residential real estate industry

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