Despite warnings of a bubble and massively fluctuating values, bitcoin continues to fascinate investors and new industries. And now the housing industry is starting to dip its toes into the water.
One Miami condo seller is only accepting Bitcoin offers, while online real estate brokers say several other listings are willing to accept bitcoin as a payment option. (A residential/commercial property in the Isle of Man is also accepting the digital currency.)
But how many bitcoin does it take to actually buy a house? The national median home price in November 2017 was $248,000. Using the midday price of bitcoin (as reflected on CoinDesk) on Jan. 15, that works out to 17.65 bitcoin.
National averages aren’t a lot of good in some areas, though. We gathered median prices for November 2017 in a number of states and cities to find out how much home your Bitcoin would buy.
Home bitcoin values by city
San Francisco – $1.588 million (per Paragon Real Estate Group) / 113 bitcoin
Seattle – $725,000 / 51.6 bitcoin
Los Angeles – $583,000 / 41.5 bitcoin
Washington, D.C. – $550,000 / 39 bitcoin
Phoenix, AZ – $243,000 / 17.3 bitcoin
Home bitcoin values by state
Connecticut – $247,500 / 17.6 bitcoin
Florida – $240,000 / 17 bitcoin
Illinois – $185,000 / 13 bitcoin
Iowa – $153,250 / 11 bitcoin
Kansas – $200,451 / 14.3 bitcoin
Maine – $200,000 / 14.2 bitcoin
Massachusetts – $384,000 / 27.3 bitcoin
Michigan – $182,761 / 13 bitcoin
Missouri – $190,050 / 13.5 bitcoin
New Jersey – $300,000 / 21.4 bitcoin
New York– $254,000 / 18 bitcoin
Ohio – $174,689 / 12.4 bitcoin
Texas – $213,396 / 15.2 bitcoin
Utah – $277,000 / 19.7 bitcoin
Vermont – $221,000 / 15.7 bitcoin
Virginia – $270,000 / 19.2 bitcoin
Washington – $363,200 / 26 bitcoin