Exploring the Path to Homeownership with an Organizational Leadership Degree: A Comprehensive Analysis of Salary Potential and Real Estate Trends Across States
If you are pursuing a degree in organizational leadership, it’s likely you have big goals for your career and the lifestyle that will accompany it. Indeed, the rewards of organizational leadership roles go beyond advanced responsibilities and the respect of your colleagues, as they are generally well-compensated positions that afford security and long-term stability. For many Americans, this means home ownership.
It’s no secret that buying a house has become significantly more difficult in this day and age than it was for prior generations. This can be a cause for great anxiety for people who feel they haven’t yet arrived at a benchmark they already expected to meet by a certain age. If this is you, don’t blame yourself: the real estate market has skyrocketed over the past several decades, completely changing the landscape for homeownership in the U.S. What used to be seen as a commonplace goal for American workers is now seen as a luxury that is difficult to attain.
If you are pursuing a career in organizational leadership, good news: organizational leadership careers are among the best-paying options available, placing your goal of homeownership within reach.
This doesn’t mean it will be easy. The costs of buying a home are exorbitant pretty much anywhere in the country you might look, and one must be certain that they will be able to continue to cover their expenses beyond the down payment. This means it’s extremely important to take your time and plan carefully, anticipating your costs and your other plans for the future (such as having children, etc.).
One of the most meaningful factors to consider as you explore the real estate market is location. This is especially important for those with an organizational leadership degree, as positions are available in every state in the country. You’ll be amazed at the differences between costs of living from one state to the next – and by how salaries for organizational leaders do too. By doing your research and doing the math on your income, expenses, and other financial goals, you’ll be ensuring that you can afford a homeowner’s lifestyle in the long term.
To help you get the lay of the land for income levels as well as the typical cost of a home in each state, we have created this list of rankings that show you where you can make the very most of your organizational leadership and supervision salary.
How Did the Housing Market Become So Competitive?
If you’re aghast at the tremendous escalations in housing costs over the past decade-plus, you’re not the only one. The United States’ booming real estate market has put homeownership out of reach for many hard working Americans who used to be able to afford property of their own on middle-class incomes.
In truth, it’s difficult to parse through the many overlapping factors that have led to the costs associated with buying a home escalating so dramatically. Some of these factors include an influx of newcomers to urban areas, creating increased competition in the market; a growing speculative investment market in real estate, raising the cost of homes and pushing out individuals seeking to purchase their own homes; and a major increase in home purchases during pandemic-era lockdowns. These have been among the largest factors to drive home prices upward, making them inaccessible for many.
Indeed, according to Zillow reports, the average American home value in 2023 is $348,126, an increase of 1% nationwide since last year. This rate, quite large in its own right, is even more eye-opening in light of growth that has preceded it over the twenty-first century. Home costs have risen to the point that even those earning competitive salaries now feel that buying a home is off the table, especially in combination with the additional home buying costs outside of simply your down payment and mortgage.
These circumstances help explain how so many have been priced out by the real estate market, and they can help you get a sense of which factors you’ll need to consider when looking for property. (Hint: thriving urban centers will not be your best bet for affordable homes.)
Buying a House on an Organizational Leadership Salary
As mentioned above, organizational leaders are generally better-disposed to become homeowners than many other American professionals, as they are qualified for high-ranking positions that are compensated accordingly. Further, these jobs are available in a wide range of organizations and an equally wide range of locations, an asset not many other jobs can boast. However, these facts do not mean that buying a home will be a walk in the park; no matter what your income level, there are always important financial considerations to think through before taking the leap.
As well-paid employees, organizational leaders may earn incomes that place homeownership within reach, but it’s important to make calculations for the long term.
This means getting a clear sense of your personal priorities, from financial and professional questions to unrelated goals you have in life. When you are a homeowner, maintaining and managing your property will be a huge long-term commitment, so it’s important that you go in knowing where it’s going to fit in with everything else. By making these determinations, you’ll be able to pick a location where property is affordable for you and where your other strongest needs will be met.
By taking the time to plan carefully and think through your personal values toward home ownership, you’ll be setting yourself up for smooth sailing as a homeowner. After all, you want your house to be a source of stability, not stress.
As you begin your search for a home, it’s a great idea to consult with other homeowners you know to learn about their experiences and gain insight into some of the most important factors for you to consider yourself. That said, remember that every homeowner has different professional, financial, and personal priorities that may greatly reorient their decision-making process.
Questions Organizational Leaders Should Ask Themselves When Considering Homeownership
If you are plotting a career in organizational leadership and are considering becoming a homeowner, the following questions will be helpful to you as you navigate the real estate market:
- Where will I be able to continue to advance my career? Are there opportunities for professionals with my expertise in the location where I’m looking to live?
- Is the place I’d like to live an affordable place to own a home? What compromises would I be willing to make to live there? What are the compromises I would not be willing to make? Is there anywhere comparable to my favorite area that would be more affordable for me?
- How financially stable is my current work situation? Beyond being able to afford the down payment on my home and the regular mortgage, am I sure I will be able to continue to afford things like utilities, insurance, property taxes, and repairs?
- Will owning a home help me reach my career goals, or will it limit them? Is moving likely to be something my career requires me to do, and if so, how soon?
- Is my real estate literacy advanced enough to approach these deals? Am I fluent enough in the variety of mortgage options and interest rates available to ensure that I will get a good deal?
These are large questions, and every individual’s answer will be different. Don’t judge yourself if your responses to these questions are different from those you may have consulted for advice. When buying a home, it’s crucial that you be in touch with your own personal priorities and objectives, as it’s you, after all, who is making the long term commitment to your property.
State-by-State Rankings of Home Prices and Organizational Leader Degree Salaries
To help those in organizational leadership positions determine the very most ideal places to pursue the dream of homeownership, we have compiled an index of the top locations in the country for organizational leaders to buy a home.
These rankings were compiled by subtracting the median organizational leader salary from the typical home value in each state. Those with the smallest difference rank among the best states to buy a home, while those with the largest discrepancy will be the most challenging to find affordable options.
You will notice that the organizational leadership salaries here refer to those categorized by the Bureau of Labor Statistics as Training and Development Managers. In fact, there are a variety of titles organizational leaders can have – too many to fit in one list. Those who have degrees in organizational leadership but hold other titles can use these figures as a rough estimate to make their own assessments.
Read on to learn more about what each state has to offer so that you can continue to excel in your career while working toward purchasing a home of your own.
To establish this ranking, we compared the Bureau of Labor Statistics’ median annual education administrators’ salaries by state to Zillow’s typical home value in each state. All BLS data is taken from their May 2022 report, accessed August 2023. Zillow’s data was published in January 2023, accessed August 2023.
NOTE: Data for the state of Wyoming is not reported by the Bureau of Labor Statistics, so the state is not included on this list.
Home value increase rates are taken from the Federal Housing Finance Agency.
50. Hawaii
Typical home value: $837,324
Median organizational leader salary: $106,550
Despite the six-figure salaries for organizational leaders, Hawaii is still a very difficult place to become a homeowner, as its home prices are the very highest in the country. Further, its property values are continuing to increase steadily, having grown at a rate of 53.28% in the past five years.
49. California
Typical home value: $743,361
Median organizational leader salary: $130,980
Good news first: California’s salaries for organizational leaders rank among the top ten in the country, and indeed can take you far as a renter in the state. However, given that the state has the second-highest property values in the country, it is still quite difficult to afford the home buying costs there. In the past five years, these high prices have grown by 45.54%.
48. District of Columbia - Washington, D.C.
Typical home value: $624,078
Median organizational leader salary: $140,23
Washington, D.C. has the third-highest property values in the country, meaning even those earning the high salaries of organizational leaders may have trouble affording to buy a home there. Property values in the nation’s capital have grown at a slower rate than many other places in the country, but that’s all relative: at 22.76%, this still means they are quickly becoming dramatically more expensive.
47. Washington
Typical home value: $577,352
Median organizational leader salary: $130,090
Washington State is another location whose home values are so high that even well-paid professionals like organizational leaders will not necessarily be able to afford them. That said, organizational leader salaries in the state are high, making it a decent place to establish oneself professionally.
46. Massachusetts
Typical home value: $587,874
Median organizational leader salary: $148,040
While Massachusetts boasts the third-highest median annual salaries for organizational leaders, its home prices also rank in the nation’s top five. Further, they have grown at a rate of 50.56% in the past five years, meaning they are only moving further out of reach. Organizational leaders can expect to be paid handsomely in the Bay State, but your dreams of buying property may not come true here.
45. Utah
Typical home value: $510,933
Median organizational leader salary: $98,280
Though the median organizational leader salary in Utah is a large amount of money relative to that of many other professions, for those within the field it is actually much lower here than many other states, falling in the bottom half in the national list. Combined with Utah’s high home prices – which have skyrocketed at a rate of 71.87% in the past five years – this means the Beehive State is not the best choice for those with organizational leadership degrees to become homeowners.
44. Colorado
Typical home value: $543,142
Median organizational leader salary: $131,740
Colorado’s home values are simply too high to be easily affordable even for those earning six-figure incomes, as organizational leaders are likely to in the state. That said, Colorado does rank in the top ten for median organizational leader salaries nationwide, which is nothing to sniff at. If you are ready to save for the long haul or enjoy the perks of living in the state as a renter, you may still be able to make your home here.
43. Oregon
Typical home value: $498,557
Median organizational leader salary: $121,320
The median organizational leader degree salary in Oregon is in the top half of the nationwide rankings, but it may not be enough to afford a home here. Oregon’s property values are among the top ten highest in the nation, and they are continuing to grow, having swelled by 48.22% in the last five years.
42. Idaho
Typical home value: $442,819
Median organizational leader salary: $86,470
Combining high home costs (which are rising the fastest of any state in the country, at a rate of a whopping 97.98% in the past five years alone) with relatively low salaries (the second lowest in our national rankings), Idaho is simply not a feasible place for many leadership professionals to become homeowners.
41. Montana
Typical home value: $446,601
Median organizational leader salary: $103,010
Montana ranks low on our list of best states to buy a home as an organizational leader due to its soaring home prices. Indeed, the state has among the fastest-growing home values in the country, rising at a rate of 74.03% in the past five years alone.
40. Nevada
Typical home value: $416,340
Median organizational leader salary: $79,550
Unfortunately, Nevada bears the distinction of having the very lowest salaries for development managers in the country. This means it ranks low on our list of best states for organizational leaders, with prospects not expected to improve soon: the state has seen a 56.58% property value increase over the past five years.
39. New Jersey
Typical home value: $484,466
Median organizational leader salary: $157,300
It’s worth starting with the good news: New Jersey offers the second highest median annual salary for organizational leaders in the United States. This alone is likely to compel many to the state, especially in light of the fact that it takes the backseat only to New York, a state with a far higher cost of living. However, home values in New Jersey are high and rising quickly, meaning it still may not be the best choice for development managers or other organizational leaders.
38. New Hampshire
Typical home value: $446,838
Median organizational leader salary: $121,560
Though not an especially populous state, New Hampshire has some of the country’s highest home values. New Hampshire is in the top half of the nation’s employers of development managers, but its high property values may still put homeownership out of reach of many organizational leaders in the state.
37. Arizona
Typical home value: $420,493
Median organizational leader salary: $107,740
Median salaries for development managers are strong in Arizona, but they may not be enough to contend with the home values in the state. Further, the state has one of the highest rates of value increase in the country, with prices rising at a rate of 76.51% in the last five years.
36. Rhode Island
Typical home value: $432,888
Median organizational leader salary: $133,570
Salaries for organizational leaders are excellent in Rhode Island, ranking in the top ten nationally. However, its high home values are worth considering seriously, and they are rising quickly, having grown at a rate of 7.63% in one year alone.
35. Florida
Typical home value: $390,856
Median organizational leader salary: $102,160
Florida home values are on the relatively high side among national averages, while its median organizational leader salaries rank near the middle of the list. (Indeed, those interested in becoming training and development managers can find this information heartening.) That means that Florida may not be the best choice of residence for those pursuing careers at that level.
34. Maryland
Typical home value: $405,562
Median organizational leader salary: $127,300
Maryland offers excellent salaries for organizational leaders, ranking in the top third nationally. However, its home prices are higher than many other states, meaning as a baseline it is not the best place to become a first-time homeowner.
33. Maine
Typical home value: $383,137
Median organizational leader salary: $106,580
Maine’s home prices are considerably lower than most of the states earlier on this list, but its salaries for organizational leaders are much lower. This, combined with the exceptional growth rate of 76% for home values in Maine in the past five years, means it is not the best place for development managers to lay their roots.
32. Vermont
Typical home value: $380,265
Median organizational leader salary: $106,550
Like Maine, Vermont is a daunting place for an organizational leader to purchase a home due to its higher than average home prices combined with its middling income level. There may be opportunities available for those who plan carefully, but it is not the most ideal state to become a homeowner.
31. New York
Typical home value: $441,462
Median organizational leader salary: $171,090
New York’s median salaries for organizational leaders are the highest in the country, but one must appreciate this fact alongside the factor of cost of living, which is higher in New York City, where the majority of these jobs are located, than almost anywhere else in the country. Other cities in the Empire State are not as affordable as they once were, but they may be decent places to become a homeowner if you are dead set on living there.
30. Alaska
Typical home value: $351,217
Median organizational leader salary: $94,990
Alaska’s home values are more approachable than many of the previous states on this list, but unfortunately, its salaries for organizational leaders are in the bottom ten of national averages. This means it would be hard for a training and development manager to afford the costs associated with buying a home in Alaska.
29. Virginia
Typical home value: $371,623
Median organizational leader salary: $120,690
Despite relatively high salaries for organizational leaders, Virginia’s home values are high. Further, they are rising at a rate of 51.51%, meaning it won’t be long before the averages exceed $400k for a single family home. This is worth keeping in mind if you’re considering purchasing your first home in the state.
28. Connecticut
Typical home value: $374,598
Median organizational leader salary: $131,420
Salaries for organizational leaders are high in Connecticut, falling in the top ten of all states nationwide. Houses in the state are pricey, though, which means that those who plan on laying down their career foundations there must be judicious in their planning so that they don’t get in over their heads.
27. Delaware
Typical home value: $370,404
Median organizational leader salary: $139,350
Delaware’s home values fall within the middle of national averages, while its salaries for organizational leaders are exceptional, ranking fifth in the country. This is promising news for professionals in the state, though you will still have to work hard to meet these prices. Home prices are rising fairly quickly in the state (“fairly” being a relative term), at a rate of 46.14% in the past five years.
26. Minnesota
Typical home value: $331,190
Median organizational leader salary: $111,300
Home prices in Minnesota are considerably lower than many of the previous states on this list, but organizational leader salaries fall only in the middle of national averages, meaning it isn’t quite as easy of a fit as one might hope. That said, those in development manager or other organizational leadership positions may have room to hope to buy homes in the North Star State.
25. North Carolina
Typical home value: $320,096
Median organizational leader salary: $108,020
If you’re dead set on moving to North Carolina, don’t wait: the state has among the top ten highest rates of home price increase in the country, having risen by 75.5% in the past five years alone. Salaries for organizational leaders fall around the middle nationally, as do home prices.
24. Tennessee
Typical home value: $311,628
Median organizational leader salary: $99,650
The cost of buying a home in Tennessee is lower than in twenty-eight other states, meaning as a baseline it will be easier to buy a home there than in many places. However, its salaries for organizational leaders are also lower than average. If you are considering a move there, take the time to learn about the costs of living in the state to see if you’ll be able to afford a home there in the long run.
23. Texas
Typical home value: $303,971
Median organizational leader salary: $104,560
Home values in Texas are in the bottom half of national averages, while salaries for organizational leaders in the Lone Star State rank right in the middle. It is conceivable to purchase a home there on a development manager’s salary, but you will have to be quite prudent in your planning to pull it off.
22. Georgia
Typical home value: $318,918
Median organizational leader salary: $124,150
With home values that are lower than many states and salaries for development managers that rank in the top third nationally, Georgia could be a compelling place to establish your career if home ownership is your eventual goal. Move quickly, though, as Georgia is another state whose home values have risen dramatically in the past five years, rising by 69.87%.
21. South Carolina
Typical home value: $288,815
Median organizational leader salary: $97,650
Though salaries for organizational leaders in South Carolina are in the bottom ten nationally, its home values are considerably lower than in many other places. This means it is a decent state to consider establishing your career. The landscape is changing quickly, however, with home values rising at a rate of 70.84% in the past five years.
20. New Mexico
Typical home value: $292,821
Median organizational leader salary: $102,640
With lower-than-average home values and salaries in line with national averages for organizational leaders, New Mexico could be a good choice of location as you consider purchasing your first home. That said, home values have risen by more than half (57.54% in the last five years, to be exact), meaning you should consider making moves now if you can.
19. South Dakota
Typical home value: $296,108
Median organizational leader salary: $111,330
South Dakota boasts an ideal combination for organizational leaders: home prices that are lower than the national average and salaries that are not far from national median pay for development managers. This means it could be within reach for organizational leadership professionals to buy homes in the state.
18. Wisconsin
Typical home value: $285,036
Median organizational leader salary: $118,310
Wisconsin’s situation is comparable to South Dakota, but the numbers are even better: houses in the state are priced on the low side, while salaries for organizational leaders rank seventeenth in the nation. If you’re looking to live comfortably, the Dairy State could be the perfect place to do it.
17. North Dakota
Typical home value: $251,061
Median organizational leader salary: $88,790
Salaries for organizational leaders in North Dakota may look low, but the greatly reduced costs of living in the state mean your money will go further. Home values here are considerably lower than the previous states on this list, placing them within reach potentially even for people who aren’t earning six figure incomes.
16. Pennsylvania
Typical home value: $255,965
Median organizational leader salary: $96,830
Pennsylvania’s salaries for development managers are a little higher than in North Dakota, though the cost of living in the state is often higher, especially if you are based in one of the state’s urban centers. Do your research on where specifically you may like to move, as there is a range of experiences to be had in the state. Home values in Pennsylvania have grown at a rate of 48.77% in the past five years.
15. Nebraska
Typical home value: $251,061
Median organizational leader salary: $100,720
A six figure income in a state with houses averaging around a quarter million dollars to purchase? That’s not bad news for organizational leaders based in Nebraska, though the situation is likely to change soon. Home values have risen by 51.94% in the past five years, with no signs of slowing down.
14. Missouri
Typical home value: $238,055
Median organizational leader salary: $87,810
Both Missouri’s home values and its median salaries for organizational leaders are low, meaning it is not inconceivable that one could work their way toward purchasing a home there as a development manager or related role. Home values are rising there quickly, though, at a rate of 55.90% in the last five years.
13. Michigan
Typical home value: $235,360
Median organizational leader salary: $95,700
With home costs slightly lower than Missouri and salary levels slightly higher, Michigan-based organizational leaders have an even better chance of becoming homeowners. The state falls around the middle of the national rankings for home cost increase, having risen at a rate of 55.04% in the past five years.
12. Indiana
Typical home value: $231,659
Median organizational leader salary: $104,430
The numbers in Indiana should look good to organizational leaders in the state who hope to become homeowners. With six-figure salaries and home values lower than many other states in the country, Indiana has the makings of a great place to establish your home base.
11. Alabama
Typical home value: $223,246
Median organizational leader salary: $97,740
Though Alabama’s salaries for organizational leaders are on the low side, its home values are too, meaning it could still be an affordable place to buy one’s first home. That said, home prices in the state are rising dramatically, having increased by 61.42% in the past five years.
10. Illinois
Typical home value: $250,542
Median organizational leader salary: $125,170
Illinois has the promising foundations to buy a home if you’re in organizational leadership: salaries for development managers are in the top third nationally, while home values are right around the bottom third. This could make it a compelling prospect for those looking to hit the market. Home values in Illinois rose by 37.22% in the past five years.
9. Kansas
Typical home value: $215,641
Median organizational leader salary: $101,210
The Sunflower State may be exactly the place for you as an organizational leader, with salaries in the six-figure range and home values in the lowest third nationally. Prices are rising quickly, having grown by 50.79% in the last five years, so now is the time to act if you have the means.
8. Iowa
Typical home value: $199,636
Median organizational leader salary: $98,220
Its salaries for organizational leaders may be lower than most states, but so are Iowa’s home values, which are in the lowest ten of all house prices nationally. This means if you are plotting a career in development management or a related field, the state may be an excellent place to save up for a home. Prices are rising in the state, having grown by 7.3% in the last year alone, so seize the moment while you can.
7. Louisiana
Typical home value: $200,369
Median organizational leader salary: $87,930
Like many of the other states at the top of this list, Louisiana’s great advantages are its low costs. Its salaries for organizational leaders are on the low side, but you’ll get much more for your money in the Pelican State. Home values are rising here at a relatively lower rate than most other states in the country, which may partly be due to environmental factors. These are worth taking into consideration yourself if you’re planning a move to the state.
6. Ohio
Typical home value: $218,666
Median organizational leader salary: $107,060
With home values much lower than national averages and salaries for development managers entering the six figure range, Ohio is an excellent choice of state to become a first-time homeowner. Don’t miss your opportunity, as the cost of a home in the state rose at a rate of 56.42% in the past five years.
5. Kentucky
Typical home value: $200,954
Median organizational leader salary: $94,230
Ranking among the top ten most affordable states in the country to buy a home, Kentucky could be an excellent choice for organizational leaders, who will be able to make the most of their salaries in a state with a low cost of living. Work fast if you can, as home prices in Kentucky grew at a rate of 7.62% in the past year alone.
4. Arkansas
Typical home value: $199,636
Median organizational leader salary: $98,320
Arkansas is an excellent place to look for a home on an organizational leader’s salary. Houses here rank among the five most affordable nationwide, meaning one can afford much more for much less. The rate of value increase for homes is high here, however, having grown by 8.76% in the past year.
3. Oklahoma
Typical home value: $198,935
Median organizational leader salary: $98,200
The third most affordable state to buy a home in the U.S. is also third on our list of best states to buy a home as an organizational leader. With prices this low, you’ll be able to save up your development manager salary and put it toward a serious property investment. The value growth of Oklahoma homes is in line with national averages, coming out to 52.14% in the past five years.
2. Mississippi
Typical home value: $172,654
Median organizational leader salary: $88,970
If you’re looking for a state with a low cost of living, the Magnolia State may be the perfect place to become a homeowner. This is an excellent place to work as an organizational leader, earning a salary that will put a home purchase within your reach. Prices here are low, but keep an eye on the market, as they swelled by 6.46% last year alone.
1. West Virginia
Typical home value: $155,773
Median organizational leader salary: $99,990
With the lowest home values in the state by a considerable margin, West Virginia is the very best place to look for a home if you work in an organizational leadership role. Further, its average annual income for development managers is near the middle of national rankings, meaning you’ll be earning beyond your needs in a low-cost state. To the Mountain State you go!