To get a good return on your investment, you need to do a lot of research on the real estate market. When dealing in real estate, location is critical. For help, check out the list of the ten most exciting states to invest in real estate. More is needed to buy a house in a good neighborhood. It might help you find places to purchase real estate that will make you money. People who have never owned a home before should invest in these places.
Idaho
Idaho is also an excellent place to buy property. The average home price in this state is $263,900, which is higher than most. Growth has been 14% in the past year. The cost of living in Idaho is 2.3% less than in the United States. 26.7% of people in the country rent their homes. A studio costs $542 a month, a one-bedroom costs $626, a two-bedroom costs $802, a three-bedroom costs $1129, and a four-bedroom costs $1338. The best place to invest in Idaho is in Boise.
North Carolina
North Carolina is a great place to invest in renting properties. The average house price is $187,300, 8.5% more than last year. Living in North Carolina costs 9.4% less than in the rest of the United States. 29.2% of people live in apartments. A studio costs $697 a month, a one-bedroom costs $731, a two-bedroom costs $875, a three-bedroom costs $1172, and a four-bedroom costs $1430. Raleigh, Durham, and Charlotte are popular places to invest in North Carolina.
Georgia
The next best place to buy a house is Georgia. Last year, the average house price rose 9.1% to $186,500. Georgia has a 6.6% lower cost of living than the rest of the country. 30.8% of people rent their homes. It costs about $790, $821, $958, $1256, and $1520 a month to rent a studio, one-bedroom, two-bedroom, three-bedroom, or four-bedroom apartment. Atlanta is one of the best places to invest in Georgia.
Florida
Florida is one of the places with the highest costs. Some of the most popular tourist spots in the country are in this state, so buying real estate there is a good idea. Last year, the average house price went up 7.8% to $237,100. Florida has a 2.8% higher cost of living than the rest of the country.
About 27% of people live in apartments. A studio costs $832 a month, a one-bedroom costs $945, a two-bedroom costs $1174, a three-bedroom costs $1584, and a four-bedroom costs $1903. Orlando, Jacksonville, and Tampa are all well-known places to invest in Florida.
Indiana
Indiana is a great place to buy a house. Last year, the average house price went up 8.9% to $142,600. Indiana has a 17.9% lower cost of living than the rest. 27.1% of people live in rentals. A studio costs $573 a month, a one-bedroom costs $662, a two-bedroom costs $825, a three-bedroom costs $1084, and a four-bedroom costs $1221. Indianapolis is one of the best places to invest in Indiana.
Ohio
Ohio is also a great place to buy property. Last year, the average house price rose 6.5% to $140,700. Ohio has a 17.4% lower cost of living than the rest of the country. 29.5% of people live in apartments. A studio costs $551 a month, a one-bedroom costs $636, a two-bedroom costs $811, a three-bedroom costs $1067, and a four-bedroom costs $1791. Columbus and Cincinnati are the best places to invest in Ohio.
Tennessee
Investing in rented property in Tennessee is an excellent way to make money. Last year, the average house price increased by 8% to $164,500. Tennessee has a 12.4% lower cost of living than the rest of the country. People who rent do so 28.8% of the time. A studio costs $622 a month, a one-bedroom costs $696, a two-bedroom costs $852, a three-bedroom costs $1134, and a four-bedroom costs $1332. Nashville is one of the best places to invest in Tennessee.
Missouri
Investing in Missouri real estate is a good idea. Last year, the average house price rose 6.7% to $159,500. Missouri has a 14.1% lower cost of living than the rest of the country. 27.8% of people live in apartments. A studio costs $569 a month, a one-bedroom costs $650, a two-bedroom costs $827, a three-bedroom costs $1110, and a four-bedroom costs $1276. Springfield and Kansas City are good places to invest in Missouri.
Alabama
Alabama is also a great place to buy or sell a home. Last year, the average house price rose 6.9% to $120,300. Alabama has a 17.7% lower cost of living than the rest of the country. For every 100 people, 25.9% pay. A studio costs $591 a month, a one-bedroom costs $639, a two-bedroom costs $772, a three-bedroom costs $1021, and a four-bedroom costs $1191. Huntsville is one of the best places to buy in Alabama.
Texas
Texas is our last top place to invest in real estate. An average house costs $195,000, 6.7% more than last year. Texas has a 6.1% lower cost of living than the rest of the United States. 33% of people live in rentals. A studio costs $738 a month, a one-bedroom costs $841, a two-bedroom costs $1036, a three-bedroom costs $1291, and a four-bedroom costs $1721. Houston, Arlington, Austin, and San Antonio are all well-known places to spend in Texas.
Other real estate investing considerations:
Property Taxes
When investors buy real estate, they should also consider state property taxes. In Alabama, the property tax rate is the second lowest. The real property tax rate is 0.37%, meaning owners pay $543 annually.
Idaho’s property tax rate is 0.72%, meaning homeowners pay $1,246 a year in taxes. Texas has one of the highest property tax rates in the country, at 1.62%. Homeowners pay $2,578 a year in taxes.
Migration
Investors can also buy homes in states with a lot of movement. Many moved to Florida, Texas, North Carolina, Georgia, Tennessee, and Idaho last year. Because of this, these states need more homes.
Valuation
When investors buy real estate in a state, they may also look at the price-to-income ratio. Regarding value, Texas, Tennessee, North Carolina, Florida, and Idaho are good places to invest in real estate.
Attracting Money
Money-magnet states make homes more valuable, so spending there is a good idea. Much money goes to Florida, Texas, North Carolina, and Tennessee.
Conclusion
It’s risky to deal in real estate. Because you’re spending, you want to pick the right things. Because the economy is hard to predict, you should put your money in places with the best real estate markets. Here are the ten best states to buy real estate and get a good return on your investment.
