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

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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