With 500,000 USD, you should be able to get a mansion for yourself. Either to live in or for business purposes. But that is not the case in most places in the United States. Some states with a reasonable cost of living, low price per square foot, and Median home cost lower than the national average are listed in this article as the states with affordable mansions. They are but are not limited to Kansas, Arkansas, Illinois, etc. Why not read and find out the rest.
KANSAS
Affordable housing is one of the reasons the cost of living is reasonable in Kansas. The National median home cost is about 290,000 USD, while Kansas is pegged at about 180,000 USD., which is about 28% lower than the national average.
Kansas has the second-cheapest cost of living and third-lowest housing prices in the US. So, if you are thinking of a nice place to get an affordable Mansion, it will cost you about 72-100 USD per square foot or 500,000 for an 8000-square foot mansion in Kansas.
ARKANSAS
Arkansas median home cost is about 145,000 USD, that’s a huge difference from the National median home cost. This means Arkansas is relatively cheaper compared to other states in the US. Arkansas has different types of big, affordable mansions you would like to live in.
The general cost of living in Arkansas is about 79 based on factors like grocery, health, housing, transportation, e.t.c. The price per square foot is 63 USD. So, ideally, an average 8000-square foot mansion goes for about 504,000 USD in Arkansas.
CALIFORNIA
California is a destination for many tourists and stands among the most populated cities in the United States. The real-estate business is booming in CA, and the major city centers are filled with expensive houses with a median home cost of more than 500,000 USD.
However, there are areas in CA with reasonable and affordable housing. The mansions in the rural areas next to the city centers are affordable. Home buyers have reviewed that tourists visiting the beach and theme-park like to rent these mansions on AirBnB.
WISCONSIN
Wisconsin ranks high amongst the states with affordable houses and a reasonable cost of living. The real estate business in Wisconsin is really good as the state gets tourists coming from all walks of life to have a beautiful moment in the Lakefront, greenery park, and recreational water park.
These centers of attraction are why Wisconsin has a slightly higher median home price (209,000 USD) than the states listed earlier. The price per square foot is between 71-130 USD, making an average 8000-square foot mansion in Wisconsin cost between 500,000 – 650,000 USD.
ILLINOIS
Illinois is the third-largest state in the united states, and I am guessing you already imagined how expensive homes would be in this state; this is not because it is the largest but because it is a fun place to be, and it gets lots of tourist attractions, especially to it Magnificent Mile, shopping malls, and all other nice places.
Illinois houses are somewhat expensive, but you can still find affordable mansions that range between 400,000 -700,000 USD with the help of local agents in areas like Springfield, Morton, Clotham, Washington e.t.c
SOUTH DAKOTA
South Dakota, which is rated as one of the rural states in the US, is also ranked as the happiest many times. This shows that South Dakota residents are happy people who work, have fun, and enjoy life in places like Mount Rushmore, the Black Hills, and the Custer National Forest.
Home prices are very affordable in South Dakota, with a Median home cost of about 239,000 USD. If you decide to get a mission in South Dakota, it might cost about 536,000 USD as the price per square foot is 67 dollars.
In addition, South Dakota has one of the strongest economies in the US.
Conclusion
Cost of living, Median home cost, and tourist attractions, amongst others, influence the price of homes in different states, as you can see in this article. I hope you got enough information as to which state is best for you to get a mansion if you are considering one for living or business. Nevertheless, I answered some FAQs; take a look.
Frequently asked questions
- Where are the cheapest mansions?
The places with the cheapest mansions in the United States are; Dayton, Akron, Cleveland, Toledo, and Memphis, just to name a few. Although if you are looking to buy a cheap mansion for business and real estate, take a look at this article; I mentioned a few places.
- Which state has the best mansions?
The best mansions can be found in Idaho, Colorado, Utah, Arizona, Wyoming, Washington, e.t.c. So, what determines what is best for you will be dependent on the reason behind your thought of buying a mansion. If you want one for real estate purposes, I would advise you on the beautiful mansions in Washington.
- What state has the nicest cheap houses?
Kentucky, Iowa, West Virginia, Kansas, Ohio, and Oklahoma are one of the states in the United States with relatives with low Median home cost and low price per square foot. So, if you want to buy a nice cheap house, look up those states.
- What states have the nicest houses?
Utah is one state with beautiful big mansions. Utah, Colorado, Montana, and other western states of the United States all have nice houses that are very affordable. The good news is the cost of living in these states is lower than the national average.
