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Median Home Value Increases in Cornerstone Region
Monday, November 18, 2013 6:00 AM

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By 2009, the median home value according to the 2009 American Community Survey was $185,200. The median home value continued to decline from 2009 to 2012.

The median home value for the United States in 2010–2012 was $174,600, a $17,300 decline from the median home value in 2007–2009. In 2010–2012, some of the highest median home values were found in Hawaii and the District of Columbia at $436,000.

West Virginia had the lowest median home value, followed by Mississippi, Arkansas, Oklahoma, Michigan, and Kentucky.

Between 2007 and 2009 the home ownership rate in the U.S. was 66.4 percent. By 2010 through 2012 that dropped to 64.7 percent. Currently the home ownership rate in Arkansas is 67.0 percent, in Oklahoma 67.1 percent and in Texas 63.0 percent.

During the same period of 2010 through 2012, the median home price in Arkansas grew by $4,000 to $106,900, in Oklahoma by $8,000 to $112,900, and in Texas by $4,000 to $128,400.

(Source: U.S. Department of Commerce, Nov. 14, 2013)