States With the Best Housing Markets
Updated: Feb. 10, 2023A tight supply has heated up the prices in the 2018 housing market. Take a look at some of the states enjoying the best housing market today.
Indiana
Thanks to its low cost of living and low tax rates, Indiana comes in at No. 10 in the rank of states with the best housing markets, according to Bankrate’s 2021 list. Indiana has around 7 million people, roughly a third of which live in or near the Indianapolis metro area. The state capital has become a popular relocation destination due to home affordability, according to the Million Acres.
Washington
The Apple State ranks ninth in Bankrate’s list due to its high rankings for both home appreciation and past-due loans, which rank sixth and third nationally respectively. Washington, however, ranks in the bottom half for cost of living and unemployment. Seattle is now the top US commercial real-estate hotspot for foreign investors, ahead of Manhattan, according to Business Insider.
Nebraska
With the lowest unemployment rate in the country, Bankrate ranked Nebraska as the eighth hottest state for housing. More notably, Nebraska ranks no worse than 29th for any of Bankrate’s rankings.
Arizona
Arizona is ranked seventh overall, according to Bankrate. The southwest state, home to the Grand Canyon and other popular travel destinations, ranks third best for home appreciation but is 36th for unemployment. Arizona has been a favorable moving choice for some Californians looking to find neighboring states with lower cost of living.
Tennessee
Home to the Great Smoky Mountains, the city lights and country music of Nashville, and much more, Tennessee has a lot of great offerings for visitors. It’s also a great place to set up roots. The Volunteer State is ranked sixth by Bankrate in part to its low cost of living and job growth.
Idaho
Idaho leads the country in home appreciation and job growth but comes in at 49th for past due loans, according to Bankrate. Overall, Bankrate ranked Idaho fifth. In mid-May, Idaho’s state capital, Boise, had the highest climb in home-sale prices nationally, according to the Idaho Statesman.
New Hampshire
Bankrate ranked New Hampshire near the top of every category with the exception of cost of living, which it ranked 43rd. Overall, New Hampshire comes in at fourth in Bankrate’s list.
Montana
Montana ranks first nationally for past due loans and third for overall market heat index, according to Bankrate. Properties along the coastline have been particularly hot commodities.
South Dakota
South Dakota isn’t just home to Mount Rushmore, it also ranks either first or second best rank nationally for unemployment, taxes and past due loans, according to Bankrate. Overall, South Dakota ranked second in Bankrate’s list.
Utah
With its low unemployment, high home appreciation and few past due loans, Utah topped Bankrate’s overall list. Fox 13 reported that some of the state’s largest counties have seen steep increases in home sale prices.
