Top 7 Places to Buy a Home in the U.S. Top 7 Places to Buy a Home in the U.S.

Big investments require a lot of research and planning to ensure that you are getting the most for your money. There are a variety of factors that go into choosing to purchase a property and and deciding which community to do so in.

For some people, there is not much choice in where they live. If you are living in a big city or cannot move out of state, you still have options as well. By looking for properties outside of the city, you can save considerably. Prices drop even just a few miles outside of the city limits, as well as in some of the suburbs within the city.

However, if you do have the opportunity to move, you should go where it will be the most beneficial for you. If you're not at liberty to pack up and head to a new state, that's OK. You can still take advantage of these great areas by purchasing an investment property or vacation home.

Regardless, you want to find a place where it is more cost effective to own than it is to rent. Ensure that the market is growing, homes are selling quickly, and the unemployment rates are low. Take into consideration your personal needs too so that you can find your top place to buy a home, such as pet friendliness, public transportation, health care, culture, parks, schools, and social life.

After much research, here is a list of the top places to buy a home (in no particular order). Housing prices, value, and living standards were all taken into consideration here. So, save yourself some time and consult this list first.

Texas

blue bonnet field in texas

This state is the one that popped up several times across multiple ranking sites. It also has the most cities that ranked highly as well. Whether you are looking to live in a burgeoning metropolis or a small town, Texas has something for you. Austin is up and coming, and the city has a great music scene. With cities such as El Paso and Austin consistently ranked high for neighborhoods, cost, amenities, and more, you are sure to find something you love.

Home values are on the rise, which is great for anyone looking to gain equity with his investment. Unfortunately the high property taxes can scare many away.

  • Property Taxes: 1.93%
  • Average 30-year Fixed Mortgage Rate: 3.45%
  • Median Home Value: $156,200

New York

statue of liberty in new york

While New York City is an expensive place to live, there are many cities upstate that are more affordable, like Rochester, Utica, Albany, and Buffalo. In many of these upstate areas you can find homes for between $80,000 and $120,000, which is a steal considering how easy it is to take a train into New York City.

Grand Central Station and Penn Station both serve as train and bus hubs for New York City, allowing you to quickly and easily commute from nearby localities. This is why New York is one of the best places to buy a home: easy access to some of the best museums, shows, dining, parks, and more!

  • Property Taxes: 1.58%
  • Average 30-year Fixed Mortgage Rate: 3.39%
  • Median Home Value: $265,500

Colorado

rocky mountains of colorado

Overall, Colorado has some high home price tags, but as these prices continue to climb, homeowners are earning equity. Additionally, Colorado is home to some low property taxes, which many homeowners appreciate.

Denver has ranked highly as one of the best American cities to live in for years. Unlike Centennial, Colorado Springs, and Arvada, Denver is not one of the most affordable for an overall cost of living. However, it has a lot to offer and has a healthy real estate market along with many other cities in Colorado.

  • Property Taxes: 0.62%
  • Average 30-year Fixed Mortgage Rate: 3.44%
  • Median Home Value: $301,200

Florida

sailing on florida waters

This is the place for you if you like sunshine and beaches. Big cities like Fort Lauderdale and Orlando are ranking highly as some of the top places to buy a home There are smaller cities like Winter Haven that will be a good investment as well if you are looking to avoid tourists and big crowds.

Although housing prices are moderate to above average, they are still affordable overall. In fact, anyone looking to build equity through home ownership should seriously consider Florida, as the state saw a rise in home value over the past year.

  • Property Taxes: 1.10%
  • Average 30-year Fixed Mortgage Rate: 3.41%
  • Median Home Value:: $188,000

Arizona

landscape of arizona

More and more first-time home buyers are entering the real estate world in Arizona, and it is easy to see why. Arizona has a lot to offer. Between the Grand Canyon, the cactuses, and the gorgeous sunsets, this state is a catch. The dry heat makes living in the hot climate more bearable than living in a humid one. Plus, you don't have to live without gorgeous snow and intense lightning. It's the best of all regions wrapped up in one!

Gilbert and Tucson both ranked well for cities to buy a home in, though there are countless areas to choose from. Unfortunately, the prices are a bit inflated for their value, but it can be worth paying a little extra for dry, sunny weather and gorgeous landmarks.

  • Property Taxes: 0.84%
  • Average 30-year Fixed Mortgage Rate: 3.40%
  • Median Home Value: $207,300

Maine

lighthouse in maine

Deciding to move to Maine isn't just about getting the best lobster rolls (thought it doesn't hurt), but it also means you will be getting access to some of the most affordable housing. With a recent jump in home values, now is the time to start investing and building equity in this beautiful state—especially since prices and mortgage rates are still below average for the market.

  • Property Taxes: 1.27%
  • Average 30-year Fixed Mortgage Rate: 3.41%
  • Median Home Value: $145,700

Nevada

nevada desert

Las Vegas has a low unemployment rate and a house-to-person ratio of one, which makes the home of the Hoover Dam a top place to buy a home. There are also cities such as Reno and Henderson to consider if the hustle and bustle of Vegas is not your cup of tea.

While it might be overwhelming to pay such a high sticker price for a new home, you can rest assured that you'll be accruing equity, as home values are expected to continue rising.

  • Property Taxes: 0.92%
  • Average 30-year Fixed Mortgage Rate: 3.39%
  • Median Home Value: $217,000

Data Sources: Bankrate, Zillow, and WalletHub

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