In this article, we will unveil the top 10 best states to buy a house in 2024. These states have been carefully ranked based on affordability, quality of life, economic opportunities, home value growth estimates, and the Zillow Home Value Index (ZHVI) as of January 2024. With the average home value in the U.S. reaching $346,048, it's crucial to find cost-effective options that don't compromise on quality of life.
Before we dive into the list, remember that your personal priorities, such as work opportunities and family needs, should also be considered. Thorough online research is highly recommended. So, let's get started and explore the 10 best states to buy a home this year!
Key Findings of Our Research:
- West Virginia is currently the #1 cheapest state to buy a home in 2024. With an average home value of $157,272, it is $188,776 less than the national average.
- Hawaii takes the crown as the most expensive state to buy a house in 2024, with an average home value of $840,748. California follows closely behind with an average home value of $746,055.
- The average home value in the U.S. is currently $346,048, showing a 2.2% year-over-year increase from CY 2023 to YTD 2024.
What are the Best States to Buy a House?
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Pennsylvania: Pennsylvania is currently the #1 best state to buy a house. It offers a diverse range of cities and rural areas, making it suitable for various lifestyles. With a rich history, vibrant culture, and affordable home prices, Pennsylvania presents an attractive option for homebuyers. Additionally, the state provides excellent educational institutions and a strong job market.
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North Carolina: North Carolina boasts a desirable combination of natural beauty, a mild climate, and a thriving economy. The state's diverse geography includes stunning beaches and majestic mountains, offering endless opportunities for outdoor activities. With a low cost of living and a strong sense of community, North Carolina is an appealing place to call home.
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Utah: Utah is renowned for its breathtaking landscapes, including national parks, mountains, and picturesque valleys. The state offers a high quality of life, with excellent healthcare, a robust economy, and low crime rates. Homebuyers in Utah can enjoy an active outdoor lifestyle, a family-friendly environment, and a relatively low cost of living.
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Kentucky: Kentucky offers a charming blend of Southern hospitality, beautiful countryside, and a rich cultural heritage. Known for its horse racing tradition and bourbon production, the state has a unique charm. With affordable housing options, a low cost of living, and a warm community spirit, Kentucky provides an inviting atmosphere for homebuyers.
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Nevada: Nevada's appeal lies not only in its famous entertainment hub, Las Vegas, but also in its diverse landscapes and outdoor recreational opportunities. The state boasts a sunny climate, breathtaking desert scenery, and access to outdoor activities such as hiking, skiing, and boating. Additionally, Nevada has no state income tax, making it an attractive choice for those seeking financial benefits.
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Iowa: Ranked among the top 10 most affordable states in the U.S., Iowa is also recognized as one of the safest. With a cost of living around 90% of the national average and housing costs at just 75% of the average, Iowa offers financial benefits and a diverse population that embraces differences. Its scenic landscapes make it an ideal destination for outdoor activities.
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Indiana: Offering a mix of large cities and small towns, Indiana provides something for everyone. With a low cost of living, friendly residents, a relatively low crime rate, and four-season weather, the state encourages people to appreciate each season as it unfolds.
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Ohio: Ohio consistently ranks highly on various "best of" lists, including having a significant number of top-ranked school districts. It offers abundant job opportunities and a range of entertainment options. Ohio is also among the top 10 cheapest states to live in.
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Nebraska: Known for its happy residents, Nebraska ranks among the top 10 happiest states. It combines affordability with a touch of humor, as reflected in its tourism tagline. The state offers a relatively low cost of living and is appreciated for its beauty and recreational activities, including golf.
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Mississippi: Despite its low-ranking public school system, Mississippi has its own appeal. It boasts warm weather, friendly people, delicious food, and a low cost of living. Whether for work, retirement, or family, Mississippi allows individuals to save money each month.
About the Author
Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world's leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder of VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they've earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.
"In Brian's Own Words:
"As a military veteran, I've made it my life's mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you'll see our rates right on our website. You'll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be."
- Brian Reese, Advisor and Co-Owner, District Lending
