How many cryptocurrencies would it take to buy a house in the U.S.?
If you’re sitting here still uncertain what bitcoin even truly is, it’s okay most the world doesn’t get it either. Here’s a handy definition. (link). But that doesn’t mean it’s not already being used in the housing market. Some exclusive property owners are either requiring only bitcoin or allowing bids to be placed in bitcoin.
So how much bitcoin does it cost to buy a house? Well, the current median housing price is $248,000 and as of Jan. 15, 2018, that median price is about 17.65 bitcoin.
How does this hold up nationwide?
San Francisco: $1.588 million = 113 bitcoin
Seattle: $725k = 51.6 bitcoin
Los Angeles: $583k = 41.5 bitcoin
Washington D.C.: $550K = 39 bitcoin
Phoenix: $243k = 17.3 bitcoin
Connecticut: $247k = 17.6 bitcoin
Florida: $240k = 17 bitcoin
Illinois: $185k = 13 bitcoin
Iowa: $153, 250 = 11 bitcoin
Kansas: $200, 451 = 14.3 bitcoin
Maine: $200k = 14 bitcoin
Massachusetts: $384k = 27.3 bitcoin
Michigan: $182, 761 = 13 bitcoin
Missouri: $190, 050 = 13.5 bitcoin
New Jersey: $300k = 21.4 bitcoin
New York: $254k = 18 bitcoin
Ohio: $174, 689 = 12.4 bitcoin
Texas: $213, 396 = 15.2 bitcoin
Utah: $277k = 19.7 bitcoin
Vermont: $221k = 15.7 bitcoin
Virginia: $270k = 19.2 bitcoin
Washington: $363, 200 = 26 bitcoin
Whether bitcoin will be the housing market currency of the future remains to be seen. Maybe by then we’ll understand what it actually is.
Photo by Cody Hughes @clhughes21