Takeaways:

  • Buyers in the Midwest or Great Plains areas of the country are destined to be happy homeowners.
  • SmartAsset listed Wyoming, North Dakota and South Dakota as the best states for homeownership.
  • Homeowners in New Jersey have it the roughest, as the state ranked dead last thanks to its sky-high property tax rates, sluggish growth rates and high foreclosure rate.

Buyers in the Midwest or Great Plains areas of the U.S. are destined to be happy homeowners, according to SmartAsset, which recently released a list of “The Best States for Homeowners.”

Examining metrics such as property tax rates, property taxes paid, insurance costs, ratio of median home price to median income, average closing costs, price per square foot, annual appreciation, average foreclosure rates and property crime in all 50 states, SmartAsset listed Wyoming, North Dakota and South Dakota as the best states for homeownership.

homeowners_2_map

Wyoming got high marks for its vast open spaces and scenery, the third-lowest foreclosure rate in the country and the eighth-lowest property tax rate. North Dakota enjoys the second-highest property appreciation rate, as well as the second-lowest burglary rate, and South Dakota has the lowest foreclosure rate in the nation, SmartAsset said.

Rounding out SmartAsset’s top-10 list are:

  • Minnesota, which has seen steady price growth in recent years.
  • Colorado, which has the ninth-lowest property tax rates in the country.
  • Iowa, which has relatively benign weather and, therefore, low homeowners insurance rates.
  • West Virginia, which is the country’s third-most affordable state.
  • Montana, which has both low foreclosure and burglary rates.
  • Virginia, a coastal state that ranked high on most of SmartAsset’s assessments.
  • Utah, which has the 10th-lowest property tax rate of any state.

Homeowners in New Jersey have it the roughest, as the state ranked dead last thanks to its sky-high property tax rates, sluggish growth rates and high foreclosure rate.

“That doesn’t mean there aren’t good areas to own a home in New Jersey, but by and large, the Garden State does little to make homeownership easy or affordable,” SmartAsset said.

Email Amy Swinderman.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Black Friday starts now! We've got great deals on Inman Connect New York in-person and virtual tickets. Register now×
Cyber Week Sale: Get 1 year of Inman Select for $75.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription