Been researching condo investments lately and stumbled on some interesting data about how prices vary wildly across the US. Turns out the cheapest condos in USA are in states like Oklahoma (averaging around $130k), Louisiana (around $165k), and West Virginia (roughly $170k). Meanwhile, if you're looking at California or New York, you're looking at $600k+ easily.

What caught my attention is the affordability ratio when you compare condo prices to average salaries. Some states that look affordable on the surface actually have pretty tight income-to-price ratios. Like, a condo in Oklahoma is cheap, but the average take-home there is only around $45k annually.

The condo market really does offer some advantages though. Lower insurance costs since you're not covering the whole structure, HOA handles exterior maintenance so you only deal with your unit, and you get shared amenities. Makes sense why people consider them for rental income or vacation properties.

If you're serious about finding value, states like Iowa (averaging $177k), North Dakota ($186k), and Kansas ($194k) seem to hit that sweet spot of cheaper condos with decent salary averages. The data I'm looking at is from mid-2024, so prices have probably shifted some, but the regional patterns probably still hold.

Anyone else been shopping around? The regional differences are pretty wild once you actually dig into the numbers.