Turns out that even a modest budget in the purchase of a home stretches further than one might think in many U.S., according to a new report published by GOBankingRates.com.  The site offers financial advice and credit information and analyzed how much house a $300,000 budget can afford across all 50 states. Turns out that Minnesota comes in 15th out of 50 for the amount of house one can afford. Indeed surprising given the real estate market here in recent years.

In their report:

GOBankingRates said the cost per square foot increases in states with a high cost of living, compared to those that are less expensive. It added that the difference between the most expensive state (Hawaii, at $678 per square foot) and the cheapest (West Virginia at $167) is $511.

In fifteenth ranked Minnesota here’s the breakdown on square footage and cash to acquire, ranked by the price per square foot:

15. Minnesota
Square feet for $300,000: 1,668
Square feet for $400,000: 2,224
Square feet for $500,000: 2,780
Price per square foot: $180

Turns out we are just behind North Dakota, where you get 1678 square feet for $300K, and we’re just ahead of Texas, where buyers get 1647 for the same amount of dough.

Read the report here from Fox9 Minneapolis: HERE