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It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Not only does South Dakota make the top 10 list of cheapest states, it's one of the eight states in the U.S. with no personal property tax. In addition to the Mount Rushmore National Memorial, you can easily vacation in your own state by visiting Badlands National Park and the Black Hills. Yes, it's cold in the winter (as in, very cold), but North Dakota has a lot to brag about. The overall cost of living is low, schools are strong (number eight in the country), and jobs are plentiful.
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That said, if northeast Texas isn’t exactly your speed, you could consider going closer to the gulf with Houston suburb Acres Home, which is one of real estate’s hottest neighborhoods in the country. Brunswick offers the second-highest livability score in the study and a median listing price that’s still under $250,000, indicating that this is one great place to live that many people could actually afford. Younger homebuyers should seriously consider Des Moines during their search. The city boasts solid scores for livability, a buyer’s market, expectations for solid growth in home prices and home prices that mostly stay under $150,000. That could be one of the reasons why Iowa is one of the states where millennials can actually afford homes. Tucker has one of the lower livability scores in this study, but the solid growth in home values would appear to help keep it an attractive market to buy in.
Best States To Buy a $300K House (2019 Study) - GOBankingRates
Best States To Buy a $300K House (2019 Study).
Posted: Sun, 28 May 2023 07:00:00 GMT [source]
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Still, the percentage of renters offset this by ranking eighth, showing that many individuals actively seek rental properties, with landlords collecting an average monthly rent of $1,082 (20th-highest). Texas also has the fifth-lowest overall tax burden in the U.S. at 8.60%, a significant factor when people consider moving to a new state. Other factors contributing to its first-place spot are its increasing rent values, relatively high median household incomes at $66,559, and average monthly rent of $1,024. Median home values are also reasonable, at $375,300 (24th), so investors can profit from the high rents and inexpensive homes. The median value per square foot in Idaho rose by close to 10% in the year leading up to January 2020 – the best rate for this metric across all 50 states. Our data shows that the median annual property taxes paid in the state are less than $1,500 (15th-lowest overall), and the 2018 effective property tax rate is 0.63% (13th-lowest).
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Although Londonderry is a great buyer’s market for its area and boasts a high livability score, the high costs in New Hampshire make it one of the states where you’re most likely to live paycheck to paycheck. Carson City might not be the hottest housing market in the state, but it is a good buyer’s market and is expected to see a 7 percent-plus return on your investment in the first year. The median home value of over $1 million for Honolulu is the second-highest in this study. So although the median list price of $625,000 might seem very steep, it’s also just over half the median home value — potentially indicating you could be getting a real bargain on the home’s value.
The Natural State lives up to its name, with sandstone formations, natural springs and swimming holes and the world’s longest bayou. If Arkansas sounds like the next place you’ll call home, check out houses for sale in Arkansas. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Given that Ohio turns up near the top of every "best of" list, we couldn't leave it out. It ranks number 10 for job opportunities, number 13 for the most entertaining things to do, and is, of course, on the top 10 list of cheapest states.
worst states for first-time homebuyers plus key factors

Oklahoma may be land-locked, but residents can still enjoy a refreshing dip in one of more than 200 manmade lakes – the most in any state in the country. Something else inhabitants may find refreshing about the Sooner State is it’s cost of living. At 14% below the national average, Oklahoma has one of the lowest costs of living on this list. To find your next place to live, review the current homes for sale in Oklahoma. When it comes to property taxes by state, Alabama has the lowest rate on this list and the second lowest rate in the country.
#3. Utah – Average Home Value: $502,647
Kentucky’s low costs for housing extend to Independence, the best place to look for a home in the state. The strong buyer’s market and relatively low listing prices could have something to do with it being in one of the states where millennials can afford a home. Coventry offers a good value in a solid market for buyers and a town with a high livability score. It could also be a solid place to look if you’re trying to escape Hartford, one of the cities most in danger of another housing crisis. The following table details foreclosure rates by state as a number per all housing units and as a percentage. States are listed in alphabetical order, with the foreclosure rate rank for each in the far left column (the lower the rank, the worse the foreclosure rate).
These five worst states for landlords suffer from low housing inventory, slow job growth, decreased population growth, and a low happiness score, indicating weak demand for rental properties. Household incomes are low compared to other states, and high vacancy rates indicate too many vacant units to affect supply and demand. These numbers bode well for investors because they support higher rents, low tenant turnover, and renters who can typically afford to pay each month. Hawaii, on the other hand, has very high home prices, with a 12-month average median sale price of $712,350.
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Texas’ overall location opportunity for residents ranks fifth in concentration for job growth, happiness score, and population growth, so investors know that residents will welcome moving to the area. Also, the state’s resident affordability is seventh-best, combining the cost of living and median household income, while property values have grown 1.30% Y-o-Y. It has the eighth-highest median value per square foot ($413), the second-highest home value appreciation (7.55%) and 13th-lowest average closing costs as a percentage of median home value (1.35%).
Two states, including Mississippi and West Virginia, stand out for their mortgage payments costing homeowners less than $1,000 each month. “The Seattle and San Francisco areas are great examples of this phenomenon. Conversely, a lack of good jobs in an area can make even relatively low home prices unaffordable for most of the people who live there.

Shreveport, which offers proximity to Dallas and Arkansas, provides the most bang for your buck with a median home sale price of $166,750. Des Moines is the state capital and its most populous city but maintains a small-town feel. If you’re looking for a lively college town that’s big on breweries, museums, and sports, check out Iowa City where the median home price is $276,333. Cedar Rapids has a great local restaurant scene and miles of recreational trails.