When it comes to buying a house, price is an important consideration but so is what impact the cost of that house has on your take-home pay.

HomeBuyer.com, using data from the Department of Housing and Urban Development and World Population Review, has compiled a list of the 'Cheapest State to Buy a House in 2022' based on house prices, mortgage payments, and what percentage of a homeowner's income is swallowed up by those payments.

After all of the numbers were crunched, only one state had a scenario where less than 11 percent of the average income was eaten up by house payments.

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In the Hawkeye State, the median price of a home is $147,800, with a monthly payment of $702. That means the average Iowan allocates 10.6 percent of their income for housing each month, which is the lowest rate in America.

CHEAPEST STATES TO BUY A HOUSE (percentage of income to house payment)

  1. Iowa: 10.60%
  2. Indiana: 11.02%
  3. Ohio: 11.03%
  4. Nebraska: 11.09%
  5. Kansas: 11.19%
  6. Mississippi: 11.31%
  7. West Virginia: 11.31%
  8. Oklahoma: 11.64%
  9. Michigan: 11.73%
  10. Arkansas: 12.00%

Homes in South Dakota fell just outside the list of the top ten cheapest in America.

The median home price in the Mount Rushmore State is $167,100 with an average monthly payment of $793.91. That's 12.62% of average incomes in the state, which is 15th best overall.

Homes in Minnesota are 22nd in the nation, with a median price of $223,900.00 and an average monthly payment of $1,063.78. That translates to 13.71% of the average income in the North Star State.

As for the most expensive state to buy a house, there's no contest.

Residents of Hawaii pay a steep price to live in paradise.

The median home price in the Aloha State is $615.300, with an average monthly payment of $2,923.36, which eats up a whopping 35.13 percent of the average income.

In all, there are eight states where the average house payment will eat up more than one-fifth of your salary each and every month.

MOST EXPENSIVE STATES TO BUY A HOUSE (percentage of income to house payment)

  1. Hawaii: 35.15%
  2. California: 32%
  3. Oregon: 21.92%
  4. Washington: 21.2%
  5. Colorado: 21.1%
  6. New York: 20.53%
  7. Massachusetts: 20.49%
  8. Nevada: 20.34%
  9. Utah: 18.65%
  10. Montana: 18.23%

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