Real Estate
The Median Lot Size in Every U.S. State in 2022
The Median Lot Size in Every U.S. State in 2022
The “American Dream” is often associated with imagery of spacious estates adorned with white picket fences, wrap-around porches, and sprawling green lawns that seem to go on forever.
But in reality, modern American life has become much more compact. Over the last few decades, the typical lot size in the U.S. has decreased significantly—from 18,760 square feet in 1978 to 13,896 in 2020.
While lot sizes are getting smaller overall, there are still large discrepancies in lot sizes from state to state. This graphic by Angi uses data from the 2022 U.S. Lot Size Index to show the median lot size in every U.S. State, using data from 312,456 Zillow listings as of May 2022.
Largest and Smallest Median Lot Sizes by State
When it comes to the states with the largest plots of land, New England dominates the ranking, with Vermont, New Hampshire, and Maine at the top of the list.
Rank | State | Median lot size (sq.ft.) |
---|---|---|
1 | Vermont | 78,408 |
2 | New Hampshire | 49,223 |
3 | Maine | 45,738 |
4 | Montana | 43,560 |
5 | Alaska | 42,423 |
6 | Mississippi | 31,799 |
7 | Connecticut | 30,928 |
8 | Arkansas | 24,829 |
9 | Tennessee | 24,394 |
10 | Georgia | 22,215 |
New England was one of the first regions settled by the Europeans in Colonial America. This long history, along with a large rural population, could explain why the area has strict zoning policies that limit density and require large minimum lot sizes for new builds.
On the opposite end of the spectrum, Nevada ranks as the state with the smallest median lot size:
Rank | State | Median lot size (sq.ft.) |
---|---|---|
1 | Nevada | 7,405 |
2 | California | 8,327 |
3 | Arizona | 8,726 |
4 | Illinois | 9,025 |
5 | Texas | 9,540 |
6 | Colorado | 10,019 |
7 | Florida | 10,019 |
8 | North Dakota | 10,019 |
9 | New Jersey | 10,019 |
10 | Ohio | 10,019 |
One possible explanation is that Nevada’s population boom—and subsequent development—is relatively recent. Newer homes listed in the dataset tend to have smaller lot sizes, and in Nevada, 34.6% of homes included in the research were built in 2000 or later.
Comparing Lot Size to Land Price
Generally speaking, the states with the biggest lots also tend to have the cheapest land when broken down per square foot. For instance, in Vermont, properties sold for a median $5.95 per square foot.
View the full-size infographic
On the flip side, in Nevada, land sold for a median $82.80 per square foot—that’s the third most expensive of any state.
Of course, other factors are at play here when it comes to the cost of land. Like anything else that’s for sale, the price of a lot is governed largely by the laws of supply and demand.
For example, housing supply is scarce in Hawaii, where only 4.9% of the land is zoned for residential development, and the median home size is much smaller than in other parts of the country. Not surprisingly, the median plot of land in Hawaii costs $110.86 per square foot, the most expensive on the list.
The Future of Housing in America
Lot sizes remain relatively large in some states for now, but as the U.S. population continues to become more urbanized, living conditions in America could get even tighter.
Will America hold onto its spacious way of living, or could life in the U.S. start to resemble more densely populated regions in the future?
This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.
United States
Charted: U.S. Median House Prices vs. Income
We chart the ever-widening gap between median incomes and the median price of houses in America, using data from the Federal Reserve from 1984 to 2022.
Houses in America Now Cost Six Times the Median Income
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
As of 2023, an American household hoping to buy a median-priced home, needs to make at least $100,000 a year. In some cities, they need to make nearly 3–4x that amount.
The median household income in the country is currently well below that $100,000 threshold. To look at the trends between median incomes and median house prices through the years, we charted their movement using the following datasets data from the Federal Reserve:
- Median household income (1984–2022).
- Median Sales Price of Houses Sold (1963–2023).
Importantly this graphic does not make allowances for actual household disposable income, nor how monthly mortgage payments change depending on the interest rates at the time. Finally, both datasets are in current U.S. dollars, meaning they are not adjusted for inflation.
Timeline: Median House Prices vs. Income in America
In 1984, the median annual income for an American household stood at $22,420, and the median house sales price for the first quarter of the year came in at $78,200. The house sales price-to-income ratio stood at 3.49.
By pure arithmetic, this is the most affordable houses have been in the U.S. since the Federal Reserve began tracking this data, as seen in the table below.
A hidden caveat of course, was inflation: running rampant towards the end of the 70s and the start of the 80s. While it fell significantly in the next five years, in 1984 the 30-year fixed rate was close to 14%, meaning a significant chunk of household income went to interest payments.
Date | Median House Sales Price | Median Household Income | Price-to-Income Ratio |
---|---|---|---|
1984-01-01 | $78,200 | $22,420 | 3.49 |
1985-01-01 | $82,800 | $23,620 | 3.51 |
1986-01-01 | $88,000 | $24,900 | 3.53 |
1987-01-01 | $97,900 | $26,060 | 3.76 |
1988-01-01 | $110,000 | $27,230 | 4.04 |
1989-01-01 | $118,000 | $28,910 | 4.08 |
1990-01-01 | $123,900 | $29,940 | 4.14 |
1991-01-01 | $120,000 | $30,130 | 3.98 |
1992-01-01 | $119,500 | $30,640 | 3.90 |
1993-01-01 | $125,000 | $31,240 | 4.00 |
1994-01-01 | $130,000 | $32,260 | 4.03 |
1995-01-01 | $130,000 | $34,080 | 3.81 |
1996-01-01 | $137,000 | $35,490 | 3.86 |
1997-01-01 | $145,000 | $37,010 | 3.92 |
1998-01-01 | $152,200 | $38,890 | 3.91 |
1999-01-01 | $157,400 | $40,700 | 3.87 |
2000-01-01 | $165,300 | $41,990 | 3.94 |
2001-01-01 | $169,800 | $42,230 | 4.02 |
2002-01-01 | $188,700 | $42,410 | 4.45 |
2003-01-01 | $186,000 | $43,320 | 4.29 |
2004-01-01 | $212,700 | $44,330 | 4.80 |
2005-01-01 | $232,500 | $46,330 | 5.02 |
2006-01-01 | $247,700 | $48,200 | 5.14 |
2007-01-01 | $257,400 | $50,230 | 5.12 |
2008-01-01 | $233,900 | $50,300 | 4.65 |
2009-01-01 | $208,400 | $49,780 | 4.19 |
2010-01-01 | $222,900 | $49,280 | 4.52 |
2011-01-01 | $226,900 | $50,050 | 4.53 |
2012-01-01 | $238,400 | $51,020 | 4.67 |
2013-01-01 | $258,400 | $53,590 | 4.82 |
2014-01-01 | $275,200 | $53,660 | 5.13 |
2015-01-01 | $289,200 | $56,520 | 5.12 |
2016-01-01 | $299,800 | $59,040 | 5.08 |
2017-01-01 | $313,100 | $61,140 | 5.12 |
2018-01-01 | $331,800 | $63,180 | 5.25 |
2019-01-01 | $313,000 | $68,700 | 4.56 |
2020-01-01 | $329,000 | $68,010 | 4.84 |
2021-01-01 | $369,800 | $70,780 | 5.22 |
2022-01-01 | $433,100 | $74,580 | 5.81 |
Note: The median house sale price listed in this table and in the chart is from the first quarter of each year. As a result the ratio can vary between quarters of each year.
The mid-2000s witnessed an explosive surge in home prices, eventually culminating in a housing bubble and subsequent crash—an influential factor in the 2008 recession. Subprime mortgages played a pivotal role in this scenario, as they were issued to buyers with poor credit and then bundled into seemingly more attractive securities for financial institutions. However, these loans eventually faltered as economic circumstances changed.
In response to the recession and to stimulate economic demand, the Federal Reserve reduced interest rates, consequently lowering mortgage rates.
While this measure aimed to make homeownership more accessible, it also contributed to a significant increase in housing prices in the following years. Additionally, a new generation entering the home-buying market heightened demand. Simultaneously, a scarcity of new construction and a surge in investors and corporations converting housing units into rental properties led to a shortage in supply, exerting upward pressure on prices.
As a result, median house prices are now nearly 6x the median household income in America.
How Does Unaffordable Housing Affect the U.S. Economy?
When housing costs exceed a significant portion of household income, families are forced to cut back on other essential expenditures, dampening consumer spending. Given how expanding housing supply helped drive U.S. economic growth in the 20th century, the current constraints in the country are especially ironic.
Unaffordable housing also stifles mobility, as individuals may be reluctant to relocate for better job opportunities due to housing constraints. On the flip side, many cities are seeing severe labor shortages as many lower-wage workers simply cannot afford to live in the city. Both phenomena affect market efficiency and productivity growth.
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