What makes a state great for homeowners? Home price growth as 
well as affordability, and low foreclosures, property taxes, closing costs, and low burglary rates are among the characteristics that make homeownership an attractive investment.
To find all of that, you may want to look in the Midwest, according to the analysis. But Western regions also hold quite a few spots on the list this year. Check out which states landed at the top of the list:
Good investments – Even states which ranked poorly tended to have some home value growth. The only state which did not show any growth in home values from 2016 to 2017 was Alaska, where home values decreased by 0.4
Midwest and West on top – All the states in our top 10 are either in the West or the Midwest. Midwest states tend to be
more affordable while home values are on the rise in Western states.
But the benefits to home ownership are different based on which state you live. Some states have seen fast-growing home values while others offer affordable mortgages, thanks to low property tax rates.
In order to find the best states for homeowners, we looked at nine metrics. Specifically we looked at average price per square foot, the one-year percent change in value per square foot, foreclosures per 10,000 homes, average effective property tax rate, median annual property taxes, average closing costs, average homeowners insurance and the burglary rate.
Utah
The median home in Utah has a value of $205 per square foot. That is the sixth-most in the study. You can probably expect that number to continue rising as well. From 2016 to 2017 that figure grew by 9.4%, a top 5 rate. One cost that new homebuyers may overlook is closing costs.
That isn’t too much of a concern in Utah. Average closing costs are under $1,900, the fifth-lowest in our study.
Utah Ranks 4th 2018’s Safest States in the U.S. America,
The main concern for Utah homebuyers may be the upfront affordability. The average home in Utah is worth 3.79 times the median annual income, a below-average figure.
Mortgage Rates Down Again This Week
Are you Ready to get Started? We have a wealth of information and 18 years of experience to help you get started. Visit us at WWW.PrecisionReal-T.com or if you prefer a more personal touch Call us today at 801 809-9866.
#RealEstateForSale #Homeownership #UtahRealEstate #MorgageRates
well as affordability, and low foreclosures, property taxes, closing costs, and low burglary rates are among the characteristics that make homeownership an attractive investment. To find all of that, you may want to look in the Midwest, according to the analysis. But Western regions also hold quite a few spots on the list this year. Check out which states landed at the top of the list:
Good investments – Even states which ranked poorly tended to have some home value growth. The only state which did not show any growth in home values from 2016 to 2017 was Alaska, where home values decreased by 0.4
Midwest and West on top – All the states in our top 10 are either in the West or the Midwest. Midwest states tend to be
more affordable while home values are on the rise in Western states.But the benefits to home ownership are different based on which state you live. Some states have seen fast-growing home values while others offer affordable mortgages, thanks to low property tax rates.
In order to find the best states for homeowners, we looked at nine metrics. Specifically we looked at average price per square foot, the one-year percent change in value per square foot, foreclosures per 10,000 homes, average effective property tax rate, median annual property taxes, average closing costs, average homeowners insurance and the burglary rate.
Utah
The median home in Utah has a value of $205 per square foot. That is the sixth-most in the study. You can probably expect that number to continue rising as well. From 2016 to 2017 that figure grew by 9.4%, a top 5 rate. One cost that new homebuyers may overlook is closing costs. That isn’t too much of a concern in Utah. Average closing costs are under $1,900, the fifth-lowest in our study.
Utah Ranks 4th 2018’s Safest States in the U.S. America,
The main concern for Utah homebuyers may be the upfront affordability. The average home in Utah is worth 3.79 times the median annual income, a below-average figure.
Mortgage Rates Down Again This Week
Are you Ready to get Started? We have a wealth of information and 18 years of experience to help you get started. Visit us at WWW.PrecisionReal-T.com or if you prefer a more personal touch Call us today at 801 809-9866.
#RealEstateForSale #Homeownership #UtahRealEstate #MorgageRates
Source: SmartAsset (June 21, 2018)
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