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The average single-family home in Georgia has a price tag of $223,945, the 31st highest cost among the 50 states, according to a new study by the financial-services website 24/7 Wall St.

The median household income in Georgia is now $61,980, while the cost of living in the state falls short of the U.S. average by 7 percent, the analysis found. And over the past year, median home values in Georgia rose 9.2 percent. 

Nationwide as of January, Americans paid $269,039 for a typical single-family home, according to 24/7 Wall St. These home costs can vary among states, from $113,626  to as high as $683,470, the real estate data firm Zillow reports. 

Generally, in locations where homes sell for more than the U.S. average, household incomes are higher than $65,712, the national median, the researchers found. The cost of living where homes are expensive is also higher than in other parts of the nation, the study found. 

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Typical Costs of Single-Family Homes by State

RankStateTypical Single-family Home PriceMedian Household IncomeCost of Living (Above or Below U.S. Average)1-year Change in Median Home Value
1Hawaii$683,470$83,10218.1%4.7%
2California$624,977$80,44015.4%10.5%
3Massachusetts$474,673$85,8439.7%10.4%
4Washington$470,304$78,6877.8%12.7%
5Colorado$442,766$77,1271.9%8.5%
6Oregon$402,573$67,0581.1%10.0%
7Utah$401,053$75,780-3.4%13.3%
8New Jersey$376,866$85,75115.2%10.6%
9New York$350,545$72,10816.4%7.7%
10Idaho$348,483$60,999-7.5%18.9%
11Maryland$341,148$86,7388.4%8.5%
12Rhode Island$340,811$71,169-0.7%11.9%
13Nevada$332,501$63,276-2.5%8.6%
14New Hampshire$330,976$77,9336.0%12.4%
15Montana$324,813$57,153-6.7%9.8%
16Arizona$315,554$62,055-3.5%16.5%
17Virginia$307,964$76,4562.0%7.8%
18Alaska$292,066$75,4634.8%0.6%
19Connecticut$288,822$78,8336.1%11.5%
20Delaware$284,787$70,176-1.2%9.6%
21Minnesota$283,127$74,593-2.5%8.0%
22Vermont$277,364$63,0013.0%6.1%
23Maine$276,023$58,9240.0%12.3%
24Florida$270,560$59,2270.6%8.6%
25Wyoming$262,517$65,003-7.3%3.6%
26North Dakota$239,464$64,577-9.4%2.7%
27New Mexico$229,947$51,945-8.9%11.0%
28North Carolina$225,740$57,341-8.2%9.3%
29South Dakota$225,662$59,533-12.1%5.7%
30Texas$224,466$64,034-3.2%7.5%
31Georgia$223,945$61,980-7.0%9.2%
32Illinois$219,806$69,187-1.9%6.2%
33Pennsylvania$215,939$63,463-2.5%9.6%
34Wisconsin$213,537$64,168-8.1%9.6%
35Tennessee$207,727$56,071-10.1%10.3%
36South Carolina$206,647$56,227-8.9%7.9%
37Nebraska$192,584$63,229-10.5%7.4%
38Michigan$192,093$59,584-7.6%9.9%
39Missouri$180,253$57,409-11.2%9.1%
40Louisiana$178,987$51,073-10.9%4.5%
41Indiana$172,769$57,603-10.7%9.3%
42Ohio$168,226$58,642-11.6%10.4%
43Kansas$167,540$62,087-10.0%8.1%
44Kentucky$160,589$52,295-12.2%7.5%
45Iowa$158,930$61,691-10.8%3.6%
46Alabama$158,809$51,734-13.6%8.9%
47Arkansas$142,070$48,952-14.7%6.7%
48Oklahoma$141,933$54,449-11.6%7.2%
49Mississippi$134,125$45,792-14.0%4.8%
50West Virginia$113,626$48,850-12.2%4.7%

Source: 24/7 Wall St.

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