<\/p>\n
1. Utah<\/h2>\n\n![\"Skyline](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160003.131-1200x675-1.png\")
Salt Lake City skyline (Source: Cond\u00e9 Nast Traveler<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 8th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 5th<\/li>\n
- Rent Potential Ranking:<\/strong> 17th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 21st<\/li>\n
- Location Opportunity for Residents:<\/strong> 3rd<\/li>\n<\/ul>\n
Because of this strong job and population growth, Utah presents a dynamic and highly ranked real estate investment environment. With a job growth of 3.20% and a population growth of 1.07%, Utah is a scorching hot market, which is very fitting for an investor looking both for short-term gains and long-term rental income. The median home value of $529,600 ranks 7th in the nation, reflecting solid demand in the state’s housing market<\/a> due to its strong economy and people moving into the area.<\/p>\nUtah makes the cut with a respectable median household income of $79,449, ranking 11th despite its cost-of-living index being slightly higher at 101.5. With increased population and housing demand, investors can look forward to lucrative opportunities in Utah’s ever-expanding real estate market, especially in Salt Lake City.<\/p>\n
2. Hawaii<\/h2>\n\n![\"Landscape](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-43-1200x800-1.jpg\")
Oahu Island, Hawaii<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 33rd<\/li>\n
- Home Value & Supply Ranking:<\/strong> 2nd<\/li>\n
- Rent Potential Ranking:<\/strong> 7th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 12th<\/li>\n
- Location Opportunity for Residents:<\/strong> 12th<\/li>\n<\/ul>\n
Hawaii ranks 2nd among the best states to invest in real estate. The state ranks 2nd among all 50 states regarding home valuations and supply, with a median home value of $720,200 and an inventory of over 5,000 homes. While the price of homes is higher, the average monthly rent is $1,651, ranking 1st, so you can surely get a quick return on your investment. Also, the percentage of renters in Hawaii ranks 4th at 40.6%, which means you\u2019ll have plenty of tenants knocking at your door. <\/p>\n
With a steady job growth rate of 4% and a 1st ranking happiness score of 66.31, Hawaii can provide a stable environment for property investments that will last long term. Investors who want high returns on larger investments, steady economic growth, and a population capable of supporting rental housing markets<\/a> would find Hawaii a great location to build up their portfolio of properties.<\/p>\n3. New Jersey\u200b<\/h2>\n\n![\"Beach](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160009.300-1200x845-1.png\")
The New Jersey Shore (Source: \u200b\u200bNJMOM<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking: <\/strong>11th<\/li>\n
- Home Value & Supply Ranking: <\/strong>37th<\/li>\n
- Rent Potential Ranking: <\/strong>2nd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes: <\/strong>3rd<\/li>\n
- Location Opportunity for Residents: <\/strong>16th\u00a0<\/li>\n<\/ul>\n
Ranked 3rd overall for best state to invest in real estate, New Jersey is attractive to real estate investors who want to try their hand at a higher-end market. The cost of living is slightly higher, with an index of 114.1, ranking it 40th overall. However, this is offset by a median household income of $89,296, which is 3rd in the nation. Strong income in New Jersey translates to a market full of potential buyers and renters who can afford prime property. <\/p>\n
At an average home value of $477,600, it ranks 9th and represents an upscale market targeted for long-term appreciation and luxury rentals. Continuous economic growth with high demand for housing has made it an excellent spot for flipping homes and holding rentals. In addition, New Jersey’s diversified economic base and purchasing power will make it a lucrative haven for real estate investments in search of better returns in a strong market.<\/p>\n
\n![](\"https:\/\/theclose.com\/wp-content\/uploads\/2024\/02\/info-icon.png\")
<\/span>\n<\/div>\n\nNew Jersey is also one of the top places for real estate agents to work. Check our list of the 10 Best States for Real Estate Agents<\/a>.<\/p>\n<\/div>\n<\/div>\n4. Massachusetts<\/h2>\n\n![\"Public](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160014.904.png\")
Boston Public Garden (Source: India Outbound<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 25th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 14th<\/li>\n
- Rent Potential Ranking:<\/strong> 1st<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 15th<\/li>\n
- Location Opportunity for Residents:<\/strong> 22nd<\/li>\n<\/ul>\n
Massachusetts is one of the most favorable states for real estate investment and is thus very popular among people interested in markets with solid growth potential. With a median home value of $614,700, investors can dive into a market with appreciable long-term growth potential. With its enviable median household income of $90,088, this state gives its residents the purchasing power to keep property prices high. It acts as a haven for those targeting high-end markets or luxury rentals.<\/p>\n
Massachusetts also has a solid job growth rate of 2.5% and a high happiness score of 57.12. Because of a strong state economy, there is continued real estate demand here. The state will become an ideal place for investment, particularly for long-term investors desiring to take advantage of a high-income, stable market.<\/p>\n
5. New Hampshire<\/h2>\n\n![\"Covered](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T170722.626.png\")
Albany Township, New Hampshire (Source: Visit New Hampshire<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 16th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 15th<\/li>\n
- Rent Potential Ranking:<\/strong> 26th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 4th<\/li>\n
- Location Opportunity for Residents:<\/strong> 24th<\/li>\n<\/ul>\n
New Hampshire rounds out the top five best states for investors, emphasizing its return on investment potential and affordability. With a median household income of $88,465 and a median home value of $452,700, ranking 4th and 12th, respectively, New Hampshire gives high purchasing power to investors and rental options for tenants. In addition, the available inventory in the state ranks 8th, which shows investors that there are plenty of properties to buy and hold or flip. <\/p>\n
The biggest opportunity in New Hampshire comes from the year-over-year changes in rent and home value, ranking 4th in the country overall. Year-over-year, it boasts a 9.4% increase in home value change and 7.93% rent value change. This speaks well to the return on investment that investors will see when seeking investment properties in this area. Generally, New Hampshire is an excellent choice for already established investors or those looking to enter a promising market. <\/p>\n
6. Georgia<\/h2>\n\n![\"White](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160027.793.png\")
Forsyth Park in Georgia (Source: PlanetWare<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking: <\/strong>7th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 36th<\/li>\n
- Rent Potential Ranking:<\/strong> 21st<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 14th<\/li>\n
- Location Opportunity for Residents:<\/strong> 8th<\/li>\n<\/ul>\n
Overall, Georgia ranked 6th as an attractive state for real estate investors because of its balanced blend of affordability and growth potential. It offers an affordable entry point for investors, with a cost of living index 91, where rental income and property appreciation can be maximized. The median home value in the state is $375,300, ranking 22nd for offering reasonably priced properties in a state where population and job growth are booming.<\/p>\n
Its 2.8% job growth rate, the nation’s 14th best, pushes Georgia over the top. The addition of a population increase of 1.05% ensures continuous demand to buy and sell housing<\/a>. Economic vitality across cities like Atlanta drives great rental markets and appreciation into the foreseeable future, making Georgia a prime option for growth investors. <\/p>\n7. Nevada<\/h2>\n\n![\"Las](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-44-1200x801-1.jpg\")
Las Vegas, Nevada<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 36th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 4th<\/li>\n
- Rent Potential Ranking:<\/strong> 9th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 33rd<\/li>\n
- Location Opportunity for Residents:<\/strong> 5th<\/li>\n<\/ul>\n
Nevada is an excellent choice for investment in real estate because it can help an investor capitalize on a balance between value and the potential of a market. The state’s cost of living index is 101.3 and ranks 28th overall; it is still an affordable state compared with many others. This affordability provides a solid entry point for investors looking to buy property without necessarily stretching their budgets. The median home value in Nevada is $428,100, which provides ample opportunities for real estate investors to take advantage of property appreciation. <\/p>\n
There is a high percentage of renters at 38.4%, ranking 6th, which gives landlords an ideal base of tenants to work with. Plus, job growth and gross domestic product, ranking 1st and 2nd, respectively, show that the economy in Nevada is booming and welcoming new opportunities for residents. Nevada presents a good investment case for investors targeting long-term stability and growth both in residential and commercial real estate.<\/p>\n
8. Minnesota<\/h2>\n\n![\"Cherry](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160035.581.png\")
Cherry and spoon sculpture (Source: Mpls.St.Paul Magazine<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 4th<\/li>\n
- Home Value & Supply Ranking: <\/strong>35th<\/li>\n
- Rent Potential Ranking: <\/strong>14th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 16th<\/li>\n
- Location Opportunity for Residents: <\/strong>18th<\/li>\n<\/ul>\n
Minnesota ranks 8th in our analysis for long-term real estate investment. With a median home value of $341,700, the Minnesota market offers midrange property prices for investors and decent returns through rental income and appreciation. The cost of living within the state is higher than some (94.1), but the state compensates for this with a median household income ranking 13th at $77,720. This income level provides a stable renter and buyer population, ensuring continued demand for housing.<\/p>\n
Minnesota also has a high happiness score of 62.43, which ranks it 3rd and suggests a quality of life attractive to its residents. Though the job growth rate is more moderate at 2.50%, this hints at a stable economy and thus provides a sound backdrop for real estate investment. Minnesota offers a long-term growth opportunity for investors looking to capture a diverse market that is complemented by a solid local economy.<\/p>\n
9. Delaware<\/h2>\n\n![\"Skyline](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-2024-09-30T160038.819.png\")
Georgetown Institute, Delaware (GIWPS<\/a>)<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 22nd<\/li>\n
- Home Value & Supply Ranking:<\/strong> 3rd<\/li>\n
- Rent Potential Ranking:<\/strong> 43rd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 13th<\/li>\n
- Location Opportunity for Residents:<\/strong> 7th<\/li>\n<\/ul>\n
Delaware ranks as one of the best states for real estate investment, particularly for those seeking to invest in markets that provide stable returns and long-term opportunities for residents. Year-over-year home and rent values grew in Delaware by 10.7% and 1.14%, respectively. This growth bodes well for the appreciation of property and the continuation of rental growth. Coupled with the median home value of $327,300, this creates some excellent opportunities for buy-and-hold investors and those looking to flip properties for a profit.<\/p>\n
In addition, Delaware’s residents are happier and have more opportunities than most other states. The state’s gross domestic product of 3.1%, ranked 5th, and population growth percentage of 1.21%, ranked 6th, show a promising economic outcome. The happiness scale is also 17th in the country. Overall, Delaware is not a bad choice for investors searching for steady, long-term returns through real estate investment.<\/p>\n
10. Rhode Island<\/h2>\n\n![\"Providence,](\"http:\/\/folster.me\/wp-content\/uploads\/2024\/10\/unnamed-45-1200x801-1.jpg\")
Providence, Rhode Island<\/figcaption><\/figure>\n<\/div>\n\n- Affordability Ranking:<\/strong> 30th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 8th<\/li>\n
- Rent Potential Ranking:<\/strong> 3rd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 18th<\/li>\n
- Location Opportunity for Residents:<\/strong> 33rd<\/li>\n<\/ul>\n
Rhode Island is the best state for real estate investment for investors who target more upper-income markets. With a median household income ranking 15th in the nation at $74,008, it is quite lucrative for an investor to target the more well-to-do renter in Rhode Island. The median home value in Rhode Island is $462,100, ranking 10th, so this higher price may attract residents to rent more than buy. <\/p>\n
Rhode Island boasts a higher-than-average monthly rent of $1,031, ranking it 22nd overall. This means it maintains a very high standard of living that is attractive to any real estate investor. A combination of high income and a substantial percentage of renters at 41% make the state suitable for real estate investors looking to take advantage of buy-and-hold properties. <\/p>\n
Full Data & Methodology for the Best States to Invest in Real Estate<\/h2>\n
Using an in-house tool, we ranked each state by gathering and tabulating data from various verified sources. The data was then further categorized into five distinct categories, each weighted 20%. Several data points were pulled in these subcategories to give each location an aggregate and comprehensive ranking. This process then provided our fair and objective assessment overall for each state.<\/p>\n
- \n
- Affordability Ranking:<\/strong> 8th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 5th<\/li>\n
- Rent Potential Ranking:<\/strong> 17th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 21st<\/li>\n
- Location Opportunity for Residents:<\/strong> 3rd<\/li>\n<\/ul>\n
Because of this strong job and population growth, Utah presents a dynamic and highly ranked real estate investment environment. With a job growth of 3.20% and a population growth of 1.07%, Utah is a scorching hot market, which is very fitting for an investor looking both for short-term gains and long-term rental income. The median home value of $529,600 ranks 7th in the nation, reflecting solid demand in the state’s housing market<\/a> due to its strong economy and people moving into the area.<\/p>\n
Utah makes the cut with a respectable median household income of $79,449, ranking 11th despite its cost-of-living index being slightly higher at 101.5. With increased population and housing demand, investors can look forward to lucrative opportunities in Utah’s ever-expanding real estate market, especially in Salt Lake City.<\/p>\n
2. Hawaii<\/h2>\n
\nOahu Island, Hawaii<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 33rd<\/li>\n
- Home Value & Supply Ranking:<\/strong> 2nd<\/li>\n
- Rent Potential Ranking:<\/strong> 7th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 12th<\/li>\n
- Location Opportunity for Residents:<\/strong> 12th<\/li>\n<\/ul>\n
Hawaii ranks 2nd among the best states to invest in real estate. The state ranks 2nd among all 50 states regarding home valuations and supply, with a median home value of $720,200 and an inventory of over 5,000 homes. While the price of homes is higher, the average monthly rent is $1,651, ranking 1st, so you can surely get a quick return on your investment. Also, the percentage of renters in Hawaii ranks 4th at 40.6%, which means you\u2019ll have plenty of tenants knocking at your door. <\/p>\n
With a steady job growth rate of 4% and a 1st ranking happiness score of 66.31, Hawaii can provide a stable environment for property investments that will last long term. Investors who want high returns on larger investments, steady economic growth, and a population capable of supporting rental housing markets<\/a> would find Hawaii a great location to build up their portfolio of properties.<\/p>\n
3. New Jersey\u200b<\/h2>\n
\nThe New Jersey Shore (Source: \u200b\u200bNJMOM<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking: <\/strong>11th<\/li>\n
- Home Value & Supply Ranking: <\/strong>37th<\/li>\n
- Rent Potential Ranking: <\/strong>2nd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes: <\/strong>3rd<\/li>\n
- Location Opportunity for Residents: <\/strong>16th\u00a0<\/li>\n<\/ul>\n
Ranked 3rd overall for best state to invest in real estate, New Jersey is attractive to real estate investors who want to try their hand at a higher-end market. The cost of living is slightly higher, with an index of 114.1, ranking it 40th overall. However, this is offset by a median household income of $89,296, which is 3rd in the nation. Strong income in New Jersey translates to a market full of potential buyers and renters who can afford prime property. <\/p>\n
At an average home value of $477,600, it ranks 9th and represents an upscale market targeted for long-term appreciation and luxury rentals. Continuous economic growth with high demand for housing has made it an excellent spot for flipping homes and holding rentals. In addition, New Jersey’s diversified economic base and purchasing power will make it a lucrative haven for real estate investments in search of better returns in a strong market.<\/p>\n
\n<\/span>\n<\/div>\n\nNew Jersey is also one of the top places for real estate agents to work. Check our list of the 10 Best States for Real Estate Agents<\/a>.<\/p>\n<\/div>\n<\/div>\n
4. Massachusetts<\/h2>\n
\nBoston Public Garden (Source: India Outbound<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 25th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 14th<\/li>\n
- Rent Potential Ranking:<\/strong> 1st<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 15th<\/li>\n
- Location Opportunity for Residents:<\/strong> 22nd<\/li>\n<\/ul>\n
Massachusetts is one of the most favorable states for real estate investment and is thus very popular among people interested in markets with solid growth potential. With a median home value of $614,700, investors can dive into a market with appreciable long-term growth potential. With its enviable median household income of $90,088, this state gives its residents the purchasing power to keep property prices high. It acts as a haven for those targeting high-end markets or luxury rentals.<\/p>\n
Massachusetts also has a solid job growth rate of 2.5% and a high happiness score of 57.12. Because of a strong state economy, there is continued real estate demand here. The state will become an ideal place for investment, particularly for long-term investors desiring to take advantage of a high-income, stable market.<\/p>\n
5. New Hampshire<\/h2>\n
\nAlbany Township, New Hampshire (Source: Visit New Hampshire<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 16th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 15th<\/li>\n
- Rent Potential Ranking:<\/strong> 26th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 4th<\/li>\n
- Location Opportunity for Residents:<\/strong> 24th<\/li>\n<\/ul>\n
New Hampshire rounds out the top five best states for investors, emphasizing its return on investment potential and affordability. With a median household income of $88,465 and a median home value of $452,700, ranking 4th and 12th, respectively, New Hampshire gives high purchasing power to investors and rental options for tenants. In addition, the available inventory in the state ranks 8th, which shows investors that there are plenty of properties to buy and hold or flip. <\/p>\n
The biggest opportunity in New Hampshire comes from the year-over-year changes in rent and home value, ranking 4th in the country overall. Year-over-year, it boasts a 9.4% increase in home value change and 7.93% rent value change. This speaks well to the return on investment that investors will see when seeking investment properties in this area. Generally, New Hampshire is an excellent choice for already established investors or those looking to enter a promising market. <\/p>\n
6. Georgia<\/h2>\n
\nForsyth Park in Georgia (Source: PlanetWare<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking: <\/strong>7th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 36th<\/li>\n
- Rent Potential Ranking:<\/strong> 21st<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 14th<\/li>\n
- Location Opportunity for Residents:<\/strong> 8th<\/li>\n<\/ul>\n
Overall, Georgia ranked 6th as an attractive state for real estate investors because of its balanced blend of affordability and growth potential. It offers an affordable entry point for investors, with a cost of living index 91, where rental income and property appreciation can be maximized. The median home value in the state is $375,300, ranking 22nd for offering reasonably priced properties in a state where population and job growth are booming.<\/p>\n
Its 2.8% job growth rate, the nation’s 14th best, pushes Georgia over the top. The addition of a population increase of 1.05% ensures continuous demand to buy and sell housing<\/a>. Economic vitality across cities like Atlanta drives great rental markets and appreciation into the foreseeable future, making Georgia a prime option for growth investors. <\/p>\n
7. Nevada<\/h2>\n
\nLas Vegas, Nevada<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 36th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 4th<\/li>\n
- Rent Potential Ranking:<\/strong> 9th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 33rd<\/li>\n
- Location Opportunity for Residents:<\/strong> 5th<\/li>\n<\/ul>\n
Nevada is an excellent choice for investment in real estate because it can help an investor capitalize on a balance between value and the potential of a market. The state’s cost of living index is 101.3 and ranks 28th overall; it is still an affordable state compared with many others. This affordability provides a solid entry point for investors looking to buy property without necessarily stretching their budgets. The median home value in Nevada is $428,100, which provides ample opportunities for real estate investors to take advantage of property appreciation. <\/p>\n
There is a high percentage of renters at 38.4%, ranking 6th, which gives landlords an ideal base of tenants to work with. Plus, job growth and gross domestic product, ranking 1st and 2nd, respectively, show that the economy in Nevada is booming and welcoming new opportunities for residents. Nevada presents a good investment case for investors targeting long-term stability and growth both in residential and commercial real estate.<\/p>\n
8. Minnesota<\/h2>\n
\nCherry and spoon sculpture (Source: Mpls.St.Paul Magazine<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 4th<\/li>\n
- Home Value & Supply Ranking: <\/strong>35th<\/li>\n
- Rent Potential Ranking: <\/strong>14th<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 16th<\/li>\n
- Location Opportunity for Residents: <\/strong>18th<\/li>\n<\/ul>\n
Minnesota ranks 8th in our analysis for long-term real estate investment. With a median home value of $341,700, the Minnesota market offers midrange property prices for investors and decent returns through rental income and appreciation. The cost of living within the state is higher than some (94.1), but the state compensates for this with a median household income ranking 13th at $77,720. This income level provides a stable renter and buyer population, ensuring continued demand for housing.<\/p>\n
Minnesota also has a high happiness score of 62.43, which ranks it 3rd and suggests a quality of life attractive to its residents. Though the job growth rate is more moderate at 2.50%, this hints at a stable economy and thus provides a sound backdrop for real estate investment. Minnesota offers a long-term growth opportunity for investors looking to capture a diverse market that is complemented by a solid local economy.<\/p>\n
9. Delaware<\/h2>\n
\nGeorgetown Institute, Delaware (GIWPS<\/a>)<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 22nd<\/li>\n
- Home Value & Supply Ranking:<\/strong> 3rd<\/li>\n
- Rent Potential Ranking:<\/strong> 43rd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 13th<\/li>\n
- Location Opportunity for Residents:<\/strong> 7th<\/li>\n<\/ul>\n
Delaware ranks as one of the best states for real estate investment, particularly for those seeking to invest in markets that provide stable returns and long-term opportunities for residents. Year-over-year home and rent values grew in Delaware by 10.7% and 1.14%, respectively. This growth bodes well for the appreciation of property and the continuation of rental growth. Coupled with the median home value of $327,300, this creates some excellent opportunities for buy-and-hold investors and those looking to flip properties for a profit.<\/p>\n
In addition, Delaware’s residents are happier and have more opportunities than most other states. The state’s gross domestic product of 3.1%, ranked 5th, and population growth percentage of 1.21%, ranked 6th, show a promising economic outcome. The happiness scale is also 17th in the country. Overall, Delaware is not a bad choice for investors searching for steady, long-term returns through real estate investment.<\/p>\n
10. Rhode Island<\/h2>\n
\nProvidence, Rhode Island<\/figcaption><\/figure>\n<\/div>\n - \n
- Affordability Ranking:<\/strong> 30th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 8th<\/li>\n
- Rent Potential Ranking:<\/strong> 3rd<\/li>\n
- Year-Over-Year Property & Rent Appreciation Changes:<\/strong> 18th<\/li>\n
- Location Opportunity for Residents:<\/strong> 33rd<\/li>\n<\/ul>\n
Rhode Island is the best state for real estate investment for investors who target more upper-income markets. With a median household income ranking 15th in the nation at $74,008, it is quite lucrative for an investor to target the more well-to-do renter in Rhode Island. The median home value in Rhode Island is $462,100, ranking 10th, so this higher price may attract residents to rent more than buy. <\/p>\n
Rhode Island boasts a higher-than-average monthly rent of $1,031, ranking it 22nd overall. This means it maintains a very high standard of living that is attractive to any real estate investor. A combination of high income and a substantial percentage of renters at 41% make the state suitable for real estate investors looking to take advantage of buy-and-hold properties. <\/p>\n
Full Data & Methodology for the Best States to Invest in Real Estate<\/h2>\n
Using an in-house tool, we ranked each state by gathering and tabulating data from various verified sources. The data was then further categorized into five distinct categories, each weighted 20%. Several data points were pulled in these subcategories to give each location an aggregate and comprehensive ranking. This process then provided our fair and objective assessment overall for each state.<\/p>\n
- Home Value & Supply Ranking:<\/strong> 8th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 3rd<\/li>\n
- Home Value & Supply Ranking: <\/strong>35th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 4th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 36th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 15th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 14th<\/li>\n
- Home Value & Supply Ranking: <\/strong>37th<\/li>\n
- Home Value & Supply Ranking:<\/strong> 2nd<\/li>\n
- Home Value & Supply Ranking:<\/strong> 5th<\/li>\n