How Much is a Mansion? Price In Every State of the USA
Are you looking for your dream home? Well if you have a good budget and if you earn a lot then you should definitely go for a mansion. Before buying a mansion, you should know how much it costs. Well I can say that it will cost you three times more than a normal property or bungalow. For example, if you are buying a bungalow for $20 million, the mansion will cost around $60 million. Most of us cannot afford such a thing as it also requires maintenance. So today we will talk about how much haveli is and its types.
How Much is a Mansion?
Especially middle class people like us always wonder how much a mansion will cost. It depends on various factors which I have mentioned below.
Location
This is a very basic and most important thing for pricing. This also includes which city and area the mansion is located. For example if the mansion is in the middle of the city then it would cost you higher compared to a mansion located in the outskirts of the city.
Architecture
The pricing also depends on the style of the house. This also includes types of interior and exterior used in the property.
Legacy
This is related to the house owner. If the house is owned by a celebrity then it would cost you higher than the average one.
Size
The bigger the mansion the higher the price. Usually mansions are bigger compared to a normal bungalow.
How Much Income Do You Need To Own a Mansion in Every State of the USA?
GOBankingRates examined the cost of owning a mansion in all 50 states, including Washington DC. GOBankingRates used the after-tax income needed to comfortably pay for mortgage, utilities and property taxes. 30-year fixed-term loan from the Federal Reserve Bank with an interest rate of 4.17%. Assuming St. Louis mortgage rates as of April 18, 2019. The post-tax income does not include the 20% down payment that buyers will have to pay upfront at the time of buying.
- Alabama: $105,068 – $158,210.73
- Alaska: $184,666 – $282,794.81
- Arizona: $161,253 – $247,426.93
- Arkansas: $102,113 – $154,069.85
- California: $307,757- $481,902.57
- Colorado: $233,789 – $364,353.06
- Connecticut: $204,795 – $315,749.89
- Delaware: $142,320 – $217,575.94
- District of Columbia: $477,182 – $754,622.96
- Florida: $174,725 – $268,799.74
- Georgia: $127,435 – $192,992.27
- Hawaii: $462,150 – $721,866.62
- Idaho: $160,446 – $248,481.02
- Illinois: $180,310 – $278,824.82
- Indiana: $113,637 – $171,922.50
- Iowa: $144,275 – $220,405.53
- Kansas: $136,396 – $208,096.69
- Kentucky: $120,406 – $182,717.40
- Louisiana: $113,180 – $171,917.61
- Maine: $174,779 – $268,531.33
- Maryland: $189,057 – $292,188.92
- Massachusetts: $269,095 – $419,253.13
- Michigan: $150,363 – $230,714.88
- Mississippi: $96,686 – $145,310.44
- Missouri: $128,364 – $194,923.25
- Montana: $200,917 – $312,866.30
- Nebraska: $164,771 – $254,014.54
- Nevada: $175,407 – $271,613.30
- New Hampshire: $203,073 – $313,483.53
- New Jersey: $222,073 – $344,906.82
- New Mexico: $131,288 – $200,665.45
- New York: $222,481 – $344,530.29
- North Carolina: $136,796 – $208,811.52
- North Dakota: $163,780 – $252,161.76
- Ohio: $126,106 – $191,010.86
- Oklahoma: $111,507 – $168,070.25
- Oregon: $215,354 – $335,423.15
- Pennsylvania: $149,645 – $229,076.59
- Rhode Island: $228,237 – $352,620.10
- South Carolina: $130,480 – $197,382
- South Dakota: $179,751 – $278,387.60
- Tennessee: $134,390 – $205,399.09
- Texas: $154,082 – $236,688.41
- Utah: $175,033 – $271,656.14
- Vermont: $183,270 – $281,992
- Virginia: $161,711 – $248,391.63
- Washington: $232,369 – $362,905.90
- West Virginia: $98,505 – $148,174.23
- Wisconsin: $165,259 – $255,087
- Wyoming: $162,553 – $250,630.80
Final Words
So I hope now you have understood the average price for buying a mansion. Every state has a different price. The price also depends on other factors as well such as location, architecture, legacy, size and so on. Keep on visiting My Architecture’s Idea for more updates..
