Complete Ranking Best States to Invest in Real Estate per State In 2023

Overall Ranking

Rank	State	Rank	State
1	Georgia	26	South Carolina
2	Utah	27	Alabama
3	Texas	28	Arizona
4	North Carolina	29	Connecticut
5	New Jersey	30	Oregon
6	Tennessee	31	Kansas
7	Washington	32	Iowa
8	Delaware	33	Kentucky
9	Nebraska	34	Maryland
10	Florida	35	Alaska
11	Colorado	36	Arkansas
12	Montana	37	Oklahoma
13	North Dakota	38	Idaho
14	California	39	Illinois
15	Wyoming	40	Mississippi
16	New Hampshire	41	Wisconsin
17	New York	42	Minnesota
18	South Dakota	43	Missouri
19	Nevada	44	Pennsylvania
20	Michigan	45	Maine
21	Massachusetts	46	New Mexico
22	Hawaii	47	Ohio
23	Virginia	48	West Virginia
24	Rhode Island	49	Vermont
25	Indiana	50	Louisiana

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Rent Potential Ranking

States	Average Monthly Rent	Monthly Rent Ranking	Vacancy Rate (Q4 2022)	Vacancy Rate Ranking	Percentage of Renters	Percentage of Renters Ranking	OVERALL RENT Potential RANKING
Alabama	$811	44	9.3%	45	28.7%	36	47
Alaska	$1,240	10	5.9%	25	34.5%	13	12
Arizona	$1,097	17	6.7%	33	32.8%	20	21
Arkansas	$760	49	13.3%	50	35.5%	12	40
California	$1,586	2	3.6%	7	45.4%	1	1
Colorado	$1,335	7	3.9%	9	33.7%	16	5
Connecticut	$1,201	12	4.4%	15	37.0%	6	6
Delaware	$1,150	15	4.7%	17	27.4%	39	22
Florida	$1,218	11	6.8%	35	32.1%	23	19
Georgia	$1,042	20	6.3%	28	34.1%	14	15
Hawaii	$1,651	1	7.2%	36	41.7%	3	8
Idaho	$887	30	4.5%	16	26.7%	41	31
Illinois	$1,038	21	7.7%	39	33.2%	17	25
Indiana	$844	38	8.9%	44	27.9%	37	46
Iowa	$806	45	6.7%	34	23.2%	49	48
Kansas	$863	34	7.5%	37	30.3%	30	38
Kentucky	$783	47	3.1%	4	30.1%	33	29
Louisiana	$876	31	8.0%	41	30.2%	32	39
Maine	$873	32	2.9%	2	23.8%	47	27
Maryland	$1,415	3	5.7%	23	27.1%	40	17
Massachusetts	$1,336	6	2.8%	1	38.3%	5	2
Michigan	$892	29	6.2%	26	26.7%	42	36
Minnesota	$1,010	23	5.0%	18	24.7%	46	32
Mississippi	$789	46	9.8%	47	27.7%	38	49
Missouri	$843	39	8.4%	43	30.3%	31	42
Montana	$836	40	3.3%	5	32.9%	19	16
Nebraska	$857	35	4.1%	12	31.5%	24	23
Nevada	$1,159	14	5.6%	22	40.3%	4	9
New Hampshire	$1,145	16	4.0%	11	26.3%	44	24
New Jersey	$1,368	4	4.2%	13	36.7%	7	4
New Mexico	$857	36	6.6%	32	30.8%	25	35
New York	$1,315	8	3.5%	6	45.4%	2	3
North Carolina	$932	26	5.3%	21	36.0%	9	14
North Dakota	$828	41	11.8%	49	36.0%	10	37
Ohio	$825	42	6.2%	27	33.0%	18	33
Oklahoma	$818	43	9.3%	46	30.4%	29	45
Oregon	$1,173	13	3.8%	8	32.7%	21	10
Pennsylvania	$958	25	5.0%	19	29.3%	35	26
Rhode Island	$1,031	22	3.9%	10	36.0%	11	11
South Carolina	$918	27	7.5%	38	23.4%	48	43
South Dakota	$761	48	7.9%	40	30.7%	26	44
Tennessee	$897	28	6.5%	31	32.2%	22	28
Texas	$1,082	19	8.3%	42	36.6%	8	20
Utah	$1,090	18	3.0%	3	29.4%	34	13
Vermont	$999	24	5.1%	20	26.7%	43	34
Virginia	$1,257	9	6.3%	29	30.6%	28	18
Washington	$1,337	5	4.3%	14	33.8%	15	7
West Virginia	$732	50	10.6%	48	22.2%	50	50
Wisconsin	$872	33	5.8%	24	30.7%	27	30
Wyoming	$853	37	6.3%	30	26.2%	45	41

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Property & Rent Appreciation Rates

States	Year-over-year Home Value Change (2021-2022)	Ranking	Year-over-year Rent Value Change (2022-2023)	Ranking	OVERALL YEAR-OVER-YEAR PROPERTY CHANGES
	Higher=Better		Higher=Better
Alabama	19.7%	17	12.50%	12	9
Alaska	10.5%	49	10.64%	17	42
Arizona	27.5%	2	-2.64%	49	22
Arkansas	19.2%	18	16.50%	6	6
California	20.0%	15	1.49%	40	28
Colorado	21.6%	13	-1.74%	46	34
Connecticut	13.5%	42	11.00%	15	32
Delaware	13.0%	44	15.62%	7	21
Florida	29.8%	1	19.74%	2	1
Georgia	22.1%	10	2.27%	35	15
Hawaii	22.8%	8	8.40%	25	12
Idaho	25.5%	4	-5.79%	50	26
Illinois	13.0%	45	1.36%	41	49
Indiana	15.7%	31	10.39%	18	19
Iowa	12.5%	47	10.88%	16	38
Kansas	16.3%	28	2.02%	36	40
Kentucky	16.8%	24	9.85%	19	14
Louisiana	12.3%	48	5.66%	29	44
Maine	22.0%	11	13.00%	10	5
Maryland	13.1%	43	1.72%	39	48
Massachusetts	14.8%	37	-0.99%	45	47
Michigan	16.1%	29	9.77%	20	20
Minnesota	12.7%	46	-0.44%	44	50
Mississippi	16.7%	25	18.57%	3	8
Missouri	16.5%	27	1.94%	37	41
Montana	25.2%	5	23.00%	1	2
Nebraska	14.6%	39	11.28%	13	25
Nevada	25.0%	6	-2.05%	48	27
New Hampshire	21.2%	14	18.39%	4	3
New Jersey	15.1%	34	9.59%	21	30
New Mexico	15.0%	36	7.93%	26	37
New York	14.4%	41	14.81%	8	17
North Carolina	23.4%	7	11.01%	14	4
North Dakota	10.4%	50	14.07%	9	35
Ohio	15.3%	32	3.96%	31	39
Oklahoma	17.6%	22	2.71%	34	31
Oregon	18.0%	21	4.18%	30	23
Pennsylvania	14.5%	40	1.80%	38	45
Rhode Island	16.7%	26	8.61%	23	18
South Carolina	22.7%	9	9.21%	22	11
South Dakota	18.3%	19	17.43%	5	7
Tennessee	15.8%	30	12.75%	11	13
Texas	19.8%	16	0.91%	42	33
Utah	26.8%	3	6.19%	27	10
Vermont	18.1%	20	3.00%	32	24
Virginia	15.1%	35	-1.77%	47	46
Washington	21.8%	12	-0.12%	43	29
West Virginia	14.8%	38	3.00%	33	43
Wisconsin	15.2%	33	6.00%	28	36
Wyoming	16.9%	23	8.60%	24	16

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Property Values, Inventory, & Overall Tax Burden

States	Median Home Value	Home Value Ranking	Available Inventory	Inventory Ranking	Overall Tax Burden	Tax Burden Ranking	OVERALL HOME VALUE, SUPPLY & TAX BURDEN RANKING
Alabama	$149,600	7	10,927	36	7.35%	12	12
Alaska	$275,600	36	930	3	5.06%	1	4
Arizona	$242,000	32	16,906	44	7.62%	17	38
Arkansas	$133,600	3	6,679	25	8.40%	29	14
California	$538,500	49	34,822	48	8.89%	39	49
Colorado	$369,900	47	11,314	37	8.28%	27	46
Connecticut	$279,700	38	3,266	13	9.83%	46	40
Delaware	$258,300	34	1,688	7	6.12%	2	7
Florida	$232,000	29	83,986	50	6.33%	5	32
Georgia	$190,200	23	22,716	46	7.46%	15	31
Hawaii	$636,400	50	3,915	15	12.31%	49	47
Idaho	$235,600	30	4,984	17	7.64%	18	19
Illinois	$202,100	26	15,606	42	9.38%	42	45
Indiana	$148,900	6	7,759	28	8.58%	33	20
Iowa	$153,900	9	5,878	20	9.15%	41	23
Kansas	$157,600	10	4,100	16	8.71%	36	15
Kentucky	$147,100	5	5,984	21	8.43%	30	13
Louisiana	$168,100	14	10,282	34	8.05%	23	24
Maine	$198,000	24	1,845	9	11.14%	48	30
Maryland	$325,400	43	6,480	22	9.44%	44	44
Massachusetts	$398,800	48	5,471	19	8.48%	31	41
Michigan	$162,600	11	12,631	39	7.40%	13	18
Minnesota	$235,700	31	6,668	24	9.41%	43	42
Mississippi	$125,500	2	5,039	18	8.56%	32	10
Missouri	$163,600	12	10,077	32	7.11%	9	11
Montana	$244,900	33	2,728	11	6.93%	8	9
Nebraska	$164,000	13	2,770	12	8.84%	38	17
Nevada	$290,200	40	8,684	31	7.69%	19	34
New Hampshire	$272,300	35	1,178	4	6.14%	3	6
New Jersey	$343,500	45	11,489	38	9.76%	45	48
New Mexico	$175,700	17	3,342	14	8.83%	37	21
New York	$325,000	42	30,107	47	12.47%	50	50
North Carolina	$182,100	19	18,090	45	7.60%	16	29
North Dakota	$199,900	25	1,463	6	7.34%	11	5
Ohio	$151,400	8	10,451	35	8.65%	35	27
Oklahoma	$142,400	4	8,227	30	7.12%	10	8
Oregon	$336,700	44	7,218	26	7.80%	20	35
Pennsylvania	$187,500	21	15,846	43	7.95%	21	33
Rhode Island	$276,600	37	805	1	9.07%	40	26
South Carolina	$170,100	15	13,414	40	7.44%	14	22
South Dakota	$174,600	16	1,781	8	6.69%	7	1
Tennessee	$177,600	18	15,579	41	6.22%	4	16
Texas	$187,200	20	68,573	49	8.01%	22	36
Utah	$305,400	41	7,339	27	8.08%	24	37
Vermont	$230,900	28	807	2	10.28%	47	25
Virginia	$282,800	39	10,193	33	8.23%	25	39
Washington	$366,800	46	8,225	29	8.24%	26	43
West Virginia	$123,200	1	2,496	10	8.36%	28	3
Wisconsin	$189,200	22	6,513	23	8.62%	34	28
Wyoming	$228,000	27	1,413	5	6.42%	6	2

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Resident Affordability Ranking

States	Cost of Living Index	Cost of Living Ranking	Median Household Income	Median Household Income Ranking	OVERALL RESIDENT AFFORDABILITY RANKING
Alabama	87.9	3	$52,035	45	23
Alaska	127.1	45	$77,790	7	28
Arizona	103.2	33	$61,529	28	40
Arkansas	90.9	11	$49,475	48	35
California	142.2	48	$78,672	6	30
Colorado	105.3	34	$75,231	10	13
Connecticut	121.6	43	$79,855	5	21
Delaware	107.9	36	$69,110	15	26
Florida	100.3	28	$57,703	37	47
Georgia	88.8	5	$61,224	29	2
Hawaii	193.3	50	$83,173	4	31
Idaho	102.1	31	$58,915	34	48
Illinois	94.3	20	$68,428	16	5
Indiana	90.6	10	$58,235	35	16
Iowa	89.9	8	$61,836	26	3
Kansas	86.5	2	$61,091	30	1
Kentucky	93.1	17	$52,238	44	41
Louisiana	93	16	$50,800	47	44
Maine	115	39	$59,489	32	50
Maryland	124	44	$87,063	1	14
Massachusetts	135	47	$84,385	3	24
Michigan	91.3	13	$59,234	33	19
Minnesota	100	26	$73,382	12	7
Mississippi	83.3	1	$46,511	50	27
Missouri	89.8	7	$57,290	38	15
Montana	100	27	$56,539	40	49
Nebraska	93.7	19	$63,015	24	12
Nevada	106.3	35	$62,043	25	37
New Hampshire	109.9	37	$61,836	27	46
New Jersey	115.2	40	$85,245	2	10
New Mexico	91	12	$51,243	46	33
New York	148.2	49	$71,117	13	42
North Carolina	95.7	22	$56,642	39	39
North Dakota	98.2	24	$65,315	18	11
Ohio	91.3	14	$58,116	36	25
Oklahoma	87.9	4	$53,840	43	20
Oregon	130.1	46	$65,667	17	43
Pennsylvania	102.5	32	$63,627	21	29
Rhode Island	117.2	42	$70,305	14	32
South Carolina	93.6	18	$54,864	41	36
South Dakota	101	29	$59,896	31	38
Tennessee	89	6	$54,833	42	22
Texas	92.1	15	$63,826	20	4
Utah	99	25	$74,197	11	6
Vermont	117	41	$63,477	22	45
Virginia	101.8	30	$76,398	9	8
Washington	111.6	38	$77,006	8	17
West Virginia	90.5	9	$48,037	49	34
Wisconsin	96.4	23	$63,293	23	18
Wyoming	94.3	21	$65,304	19	9

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Economic, Job & Population Growth

States	Gross Domestic Product (GDP)	Economic Ranking	Percentage of Job Growth	Job Growth Ranking	Percentage of Population Growth	Population Growth Ranking	Happiness (Scale of 0 to 100, 100 is max)	Happiness Ranking	Average Location Opportunity for Residents Ranking
Alabama	1.1%	27	1.94%	40	0.48%	27	39.35	44	34.50
Alaska	0.2%	47	1.36%	48	0.31%	36	38.89	45	44.00
Arizona	1.8%	17	3.47%	16	1.04%	9	52.92	20	15.50
Arkansas	0.6%	34	2.85%	25	0.32%	35	36.61	49	35.75
California	14.7%	1	4.38%	7	0.57%	24	63.14	4	9.00
Colorado	1.9%	16	3.63%	13	1.26%	6	55.38	17	13.00
Connecticut	1.3%	23	1.98%	38	0.09%	47	58.24	11	29.75
Delaware	0.40%	38	2.66%	28	0.91%	13	51.67	26	26.25
Florida	5.3%	4	4.87%	3	1.24%	7	51.01	28	10.50
Georgia	3.0%	8	4.66%	4	0.94%	11	55.15	18	10.25
Hawaii	0.4%	39	1.78%	44	0.64%	23	68.27	1	26.75
Idaho	0.4%	40	2.95%	23	1.43%	2	63.09	5	17.50
Illinois	4.1%	5	4.06%	8	-0.01%	48	52.47	22	20.75
Indiana	1.8%	18	2.39%	32	0.44%	29	50.2	31	27.50
Iowa	0.9%	29	2.20%	35	0.45%	28	61.07	7	24.75
Kansas	0.8%	32	0.97%	50	0.29%	37	52.3	24	35.75
Kentucky	1.0%	28	2.40%	31	0.37%	33	39.42	43	33.75
Louisiana	1.2%	24	1.91%	41	0.27%	38	37.15	48	37.75
Maine	0.3%	43	2.01%	37	0.25%	42	49.81	32	38.50
Maryland	2.0%	15	2.97%	22	0.65%	22	61.78	6	16.25
Massachusetts	2.8%	11	3.79%	10	0.68%	20	56.85	15	14.00
Michigan	2.5%	14	3.15%	19	0.19%	46	49.52	33	28.00
Minnesota	1.8%	19	2.41%	30	0.70%	19	67.26	2	17.50
Mississippi	0.5%	36	1.52%	46	-0.02%	49	41.63	42	43.25
Missouri	1.5%	22	1.83%	42	0.27%	39	42.76	41	36.00
Montana	0.2%	48	2.86%	24	0.86%	14	51.08	27	28.25
Nebraska	0.6%	35	2.17%	36	0.68%	21	59.11	9	25.25
Nevada	0.8%	33	5.65%	2	1.27%	5	51.8	25	16.25
New Hampshire	0.4%	41	1.96%	39	0.44%	30	52.37	23	33.25
New Jersey	3.0%	9	4.45%	6	0.53%	25	58.1	12	13.00
New Mexico	0.5%	37	3.74%	11	0.27%	40	43.35	40	32.00
New York	8.1%	3	4.57%	5	0.40%	32	57.35	13	13.25
North Carolina	2.8%	12	3.33%	17	0.85%	15	53.69	19	15.75
North Dakota	0.3%	44	2.35%	33	1.33%	4	65.62	3	21.00
Ohio	3.2%	7	1.54%	45	0.22%	45	48.19	36	33.25
Oklahoma	0.9%	30	2.72%	27	0.52%	26	38.89	46	32.25
Oregon	1.2%	25	3.22%	18	0.94%	12	48.05	38	23.25
Pennsylvania	3.7%	6	3.53%	14	0.23%	43	50.54	29	23.00
Rhode Island	0.3%	45	2.63%	29	0.44%	31	50.44	30	33.75
South Carolina	1.2%	26	3.71%	12	0.95%	10	48.26	35	20.75
South Dakota	0.3%	46	1.79%	43	0.80%	16	60.8	8	28.25
Tennessee	1.7%	20	3.52%	15	0.80%	17	46.13	39	22.75
Texas	8.4%	2	5.77%	1	1.34%	3	52.56	21	6.75
Utah	0.9%	31	3.05%	20	1.50%	1	37.84	47	24.75
Vermont	0.2%	49	1.44%	47	0.27%	41	48.18	37	43.50
Virginia	2.6%	13	3.05%	21	0.72%	18	57.35	14	16.50
Washington	3.0%	10	3.99%	9	1.24%	8	56.44	16	10.75
West Virginia	0.4%	42	2.75%	26	-0.33%	50	33.42	50	42.00
Wisconsin	1.6%	21	1.25%	49	0.35%	34	58.87	10	28.50
Wyoming	0.2%	50	2.30%	34	0.23%	44	48.9	34	40.50

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