Here's How Much Have Used Car Prices Risen in Each State

·6 min read

Used car prices are up 10.9 percent over last year as the microchip shortage continues to impact the automotive industry, according to iSeeCars.com’s latest analysis of over 1.8 million used car sales in July. This is slightly up from a 10.5 percent increase in June and marks the second month of slight increases after four months of slowing price growth.

Used Car Price Increases by State

Are used car price increases consistent across the country? Here are the average used car price increases by state in ascending order:

Used Car Price Increases by State: July 2022- iSeeCars

Rank 

State

Year-Over-Year % Price Change

Year-Over-Year $ Price Change

1

Oklahoma

0.8%

$278

2

Alaska

1.3%

$542

3

Rhode Island

3.4%

$1,038

4

Hawaii

5.0%

$1,562

5

Mississippi

5.1%

$1,663

6

New Mexico

5.5%

$1,788

7

Arkansas

5.6%

$1,906

8

West Virginia

5.8%

$1,885

9

Missouri

5.9%

$1,891

10

South Dakota

6.0%

$2,160

11

Texas

6.1%

$1,989

12

Oregon

6.2%

$2,027

13

Idaho

7.1%

$2,477

14

Alabama

7.2%

$2,218

15

Louisiana

7.4%

$2,355

16

Michigan

7.5%

$2,277

17

Kansas

7.7%

$2,442

18

Utah

7.9%

$2,431

19

Indiana

8.2%

$2,469

20

Wyoming

8.4%

$3,292

21

Wisconsin

8.4%

$2,638

22

Tennessee

8.6%

$2,663

23

Nevada

8.9%

$2,677

24

Kentucky

9.2%

$2,811

25

Washington

9.5%

$3,085

26

Ohio

9.6%

$2,775

27

Virginia

9.8%

$2,994

28

Minnesota

9.8%

$3,102

29

Iowa

9.9%

$3,153

30

North Carolina

10.0%

$3,106

31

Montana

10.2%

$3,836

32

Nebraska

10.3%

$3,240

33

Georgia

10.3%

$3,300

34

Illinois

10.5%

$3,297

National Average

10.9%

$34,291

35

Maine

10.9%

$3,302

36

Colorado

11.1%

$3,475

37

Vermont

11.3%

$3,262

38

New Hampshire

11.4%

$3,386

39

Delaware

11.7%

$3,327

40

Maryland

11.7%

$3,470

41

Pennsylvania

12.6%

$3,708

42

Florida

13.0%

$3,842

43

California

13.1%

$4,004

44

North Dakota

13.4%

$4,411

45

Arizona

13.4%

$4,056

46

Massachusetts

14.1%

$4,176

47

Connecticut

14.3%

$4,138

48

New Jersey

15.2%

$4,486

49

New York

15.8%

$4,595

50

South Carolina

16.8%

$5,277

iSeeCars’ used car pricing analysis shows that consumers may be more likely to find a deal in some states than others.

  • South Carolina is the state with the greatest used car price increase in July 2022 compared to July 2021 at 16.8 percent, which amounts to $5,277

  • Oklahoma has the smallest used car price increase at 0.8 percent, which amounts to $278.

  • Of the 10 states with the highest price increases, seven are Eastern coastal states.

Vehicles with the Highest Used Car Price Increases by State

iSeeCars also examined which used car has gone up the most in price in each state:

Vehicles with the Highest Used Car Price Increases by State: July 2022- iSeeCars

Rank 

State

Year-Over-Year % Price Change

Year-Over-Year $ Price Change

1

Alabama

Toyota Prius

45.1%

$9,973

2

Alaska

Nissan Rogue

15.2%

$4,275

3

Arizona

Hyundai Sonata Hybrid

49.9%

$9,477

4

Arkansas

Toyota Prius

43.2%

$9,163

5

California

Nissan LEAF

53.5%

$9,778

6

Colorado

Nissan LEAF

74.5%

$13,146

7

Connecticut

Audi Q3

39.9%

$10,192

8

Delaware

Mercedes-Benz GLE

30.1%

$14,332

9

Florida

Hyundai Sonata Hybrid

72.0%

$12,512

10

Georgia

Audi A7

40.8%

$15,934

11

Hawaii

Nissan Sentra

24.8%

$4,342

12

Idaho

Volkswagen Jetta

22.2%

$4,107

13

Illinois

Chevrolet Bolt EV

41.3%

$9,317

14

Indiana

Toyota Prius

38.9%

$8,240

15

Iowa

Mitsubishi Outlander

30.8%

$5,482

16

Kansas

Acura TLX

28.1%

$9,174

17

Kentucky

Mitsubishi Mirage G4

31.1%

$3,886

18

Louisiana

Lincoln Navigator

34.7%

$17,889

19

Maine

Honda Accord

26.1%

$5,815

20

Maryland

Chevrolet Corvette

55.2%

$39,866

21

Massachusetts

Nissan LEAF

73.9%

$15,093

22

Michigan

Porsche Cayenne

49.7%

$26,989

23

Minnesota

Toyota Prius

51.2%

$10,735

24

Mississippi

BMW X5

29.6%

$12,552

25

Missouri

Toyota Camry Hybrid

38.2%

$9,659

26

Montana

Honda Civic

20.8%

$4,473

27

Nebraska

Subaru Legacy

38.9%

$7,003

28

Nevada

Toyota Camry Hybrid

39.2%

$9,788

29

New Hampshire

Volvo S60

28.7%

$7,549

30

New Jersey

Nissan LEAF

55.4%

$10,017

31

New Mexico

Kia Rio

42.6%

$5,947

32

New York

Hyundai Sonata Hybrid

66.9%

$12,436

33

North Carolina

Hyundai Sonata Hybrid

67.7%

$12,846

34

North Dakota

Honda Accord

38.3%

$8,600

35

Ohio

Toyota Avalon Hybrid

37.0%

$9,737

36

Oklahoma

Lincoln Navigator L

36.0%

$21,167

37

Oregon

Nissan LEAF

68.2%

$13,905

38

Pennsylvania

Nissan LEAF

75.7%

$15,904

39

Rhode Island

Volkswagen Jetta

22.6%

$4,274

40

South Carolina

Porsche Cayenne

39.2%

$23,322

41

South Dakota

Hyundai Elantra

19.1%

$3,223

42

Tennessee

Toyota Avalon Hybrid

43.4%

$12,493

43

Texas

Toyota Prius

40.2%

$8,638

44

Utah

Toyota Camry Hybrid

44.7%

$10,775

45

Vermont

Toyota RAV4 Hybrid

23.0%

$7,038

46

Virginia

Hyundai Sonata Hybrid

61.3%

$10,951

47

Washington

FIAT 500X

71.1%

$10,742

48

West Virginia

Mercedes-Benz GLE

41.5%

$16,969

49

Wisconsin

Toyota Camry Hybrid

35.8%

$8,635

50

Wyoming

Nissan Sentra

16.8%

$3,016

  • The used car that has the highest increase in the most states is the Nissan LEAF in six states.

  • The used car that has the highest increase across all states is the Nissan LEAF in Pennsylvania with a 75.7 percent increase.

What does this mean for consumers? The best way for consumers to avoid significantly higher prices while car shopping for the foreseeable future is to either maintain their current vehicle or purchase a used vehicle that isn’t in high demand, and to be as flexible as possible with factors such as color and trim.

More from iSeeCars.com:

Methodology

iSeeCars.com analyzed over 1.8 million 1-5-year-old used car sales in July 2021 and 2022. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as both a percentage difference from the 2021 price as well as a dollar difference. Heavy-duty vehicles, low-volume vehicles, vehicles discontinued as of the 2022 model year, and vehicles with fewer than 4 of the 5 model years for each period were excluded from further analysis.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $342 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.

This article, How Much Have Used Car Prices Gone Up in Your State?, originally appeared on iSeeCars.com.