Last updated on December 14, 2021
The word "best" is ane of the most subjective in the English linguistic communication.
All-time movie, best vocal, all-time thespian, best motorcar, best ice cream . . . best you name it, make full-in-the-bare. The truth is that anybody has a different opinion of what "best" really means.
Unless of course, you're talking about the best U.Due south. states to invest in existent estate in 2022.
What makes a land ane of the all-time?
Although not every investor will agree on the #1 best state, in that location are some key metrics rental belongings investors employ to make up one's mind which states are the all-time to invest in:
- Rising property prices and historical appreciation in market values.
- Affordable rental property can help proceed your cash menses loftier and your disinterestedness growing, generating more profits over the long term.
- Population growth that creates a consistent and predictable demand for housing.
- Employment gains and job market growth give residents and businesses a reason to cull ane state over another.
- Loftier rental occupancy rates mensurate how much of the housing supply in a real estate market is vacant.
- Growing share of renter-occupied households bespeak how attractive a housing market place is for renters, due to factors such every bit housing affordability and lifestyle choices to rent rather than own, forth with potential for future growth.
- States with low property taxes assist proceed the cost of living low and cyberspace cash menstruum from investment holding high.
20 best states to consider for real manor investing in 2022
To compile this list of best states to invest in, nosotros used the most recent information from Zillow (October 31, 2021), Demography Reporter and Data USA (2019 census information), and November 2022 statistics from Apartment Guide for rent trends. There are pros and cons to each of these 20 all-time states depending on your specific investment strategy, so we've listed them in alphabetical order:
1. Arkansas
- Median home value: $159,714
- Median home value increase yr-over-twelvemonth: fifteen.3%
- Occupied housing: 84%
- Boilerplate hire: $914/calendar month
- Average hire increase year-over-twelvemonth: -fifteen.3%
- Renter-occupied housing percentage: 35%
- Population growth: 0.13%
- Task growth: three.25%
- Belongings tax avg. range (largest share of households): < $800
→View Arkansas rental properties
2. California
- Median home value: $722,406
- Median home value increment year-over-twelvemonth: 21.0%
- Occupied housing: ninety%
- Average rent: $3,123/month
- Boilerplate rent increment year-over-yr: 19.0%
- Renter-occupied housing percent: 45%
- Population growth: - 0.eleven%
- Job growth: 1.37%
- Belongings tax avg. range (largest share of households): $iii,000
→View California rental properties
iii. Florida
- Median home value: $328,576
- Median home value increment yr-over-year: 23.9%
- Occupied housing: 82%
- Average rent: $2,271/month
- Average rent increase year-over-twelvemonth: 37.56%
- Renter-occupied housing per centum: 36%
- Population growth: 0.84%
- Job growth: 2.57%
- Belongings tax avg. range (largest share of households): $3,000
→View Florida rental backdrop
4. Georgia
- Median abode value: $269,441
- Median domicile value increase year-over-year: 22.iv%
- Occupied housing: 88%
- Average hire: $1,666/month
- Average rent increase year-over-year: 29.34%
- Renter-occupied housing percentage: 36%
- Population growth: 0.93%
- Task growth: ane.17%
- Property tax avg. range (largest share of households): < $800
→View Georgia rental properties
v. Idaho
- Median habitation value: $446,550
- Median home value increase: 38.two%
- Occupied housing: 87%
- Average rent: $1,429/calendar month
- Boilerplate rent increase year-over-year: 21.72%
- Renter-occupied housing percentage: 28%
- Population growth: one.87%
- Job growth: 4.32%
- Holding revenue enhancement avg. range (largest share of households): $800 - $1,499
half dozen. Illinois
- Median home value: $243,355
- Median domicile value increment yr-over-twelvemonth: 13.six%
- Occupied housing: 90%
- Average rent: $ane,619/calendar month
- Average rent increase yr-over-year: 15.05%
- Renter-occupied housing percentage: 34%
- Population growth: - 0.54%
- Job growth: 0.84%
- Holding taxation avg. range (largest share of households): + $3,000
→View Illinois rental properties
vii. Indiana
- Median dwelling house value: $197,767
- Median home value increase year-over-year: 17.4%
- Occupied housing: 89%
- Boilerplate hire: $i,208/month
- Average rent increase yr-over-twelvemonth: 7.15%
- Renter-occupied housing percent: 31%
- Population growth: 0.60%
- Chore growth: one.53%
- Property tax avg. range (largest share of households): < $800
→View Indiana rental properties
8. Iowa
- Median dwelling value price: $174,916
- Median habitation value increase year-over-twelvemonth: 11.1%
- Occupied housing: 91%
- Average rent: $991/month
- Average rent increase twelvemonth-over-year: 1.10%
- Renter-occupied housing per centum: 29%
- Population growth: - 0.3%
- Job growth: - 0.89%
- Belongings tax avg. range (largest share of households): + $3,000
→View Iowa rental properties
nine. Kentucky
- Median home value: $178,523
- Median home value increase year-over-year: 13.9%
- Occupied housing: 87%
- Average rent: $ane,082/month
- Boilerplate rent increase year-over-yr: 6.48%
- Renter-occupied housing percentage: 33%
- Population growth: - 0.02%
- Job growth: 0.45%
- Property tax avg. range (largest share of households): < $800
→View Kentucky rental properties
x. Michigan
- Median habitation value price: $218,051
- Median domicile value increment year-over-yr: 17.4%
- Occupied housing: 86%
- Boilerplate hire: $1,318/calendar month
- Average rent increment yr-over-yr: 12.63%
- Renter-occupied housing percentage: 28%
- Population growth: - 0.09%
- Job growth: 1.22%
- Holding tax avg. range (largest share of households): + $three,000
→View Michigan rental properties
11. Mississippi
- Median dwelling house value: $149,116
- Median home value increment year-over-year: 12.five%
- Occupied housing: 82%
- Boilerplate rent: $937/calendar month
- Average rent increase year-over-year: 12.39%
- Renter-occupied housing percentage: 33%
- Population growth: - 0.35%
- Job growth: ii.xx%
- Property taxation avg. range (largest share of households): < $800
→View Mississippi rental properties
12. Missouri
- Median domicile value: $206,274
- Median home value increase twelvemonth-over-year: xvi.2%
- Occupied housing: 87%
- Average rent: $1,235/calendar month
- Average rent increment year-over-year: three.3%
- Renter-occupied housing percentage: 33%
- Population growth: 0.eighteen%
- Job growth: 0.66%
- Property tax avg. range (largest share of households): $800 - $1,499
→View Missouri rental backdrop
13. Nebraska
- Median dwelling value: $217,232
- Median dwelling house value increase yr-over-year: xiv.iv%
- Occupied housing: 91%
- Boilerplate rent: $1,316/month
- Average rent increment year-over-yr: ix.29%
- Renter-occupied housing percentage: 34%
- Population growth: 0.27%
- Task growth: 1.17%
- Holding tax avg. range (largest share of households): + $3,000
fourteen. Nevada
- Median dwelling value: $404,060
- Median home value increase year-over-yr: 25.6%
- Occupied housing: 89%
- Average rent: $2,065/month
- Boilerplate rent increase year-over-year: 34.46%
- Renter-occupied housing per centum: 43%
- Population growth: i.51%
- Job growth: 3.31%
- Property tax avg. range (largest share of households): $800 - $1,499
15. New Mexico
- Median dwelling value: $259,771
- Median home value increment yr-over-year: 18.seven%
- Occupied housing: 84%
- Average hire: $1,351/month
- Boilerplate rent increment year-over-twelvemonth: 5.9%
- Renter-occupied housing pct: 32%
- Population growth: 0.07%
- Job growth: 5.59%
- Property tax avg. range (largest share of households): < $800
xvi. North Dakota
- Median domicile value: $257,423
- Median home value increment year-over-year: 8.3%
- Occupied housing: 85%
- Average rent: $1,006/month
- Average rent increase year-over-year: half-dozen.62%
- Renter-occupied housing percentage: 39%
- Population growth: 0.26%
- Job growth: 3.01%
- Property tax avg. range (largest share of households): + $three,000
17. Ohio
- Median home value: $190,984
- Median home value increase yr-over-year: 16.four%
- Occupied housing: 90%
- Boilerplate hire: $1,213/month
- Average rent increase twelvemonth-over-yr: 9.06%
- Renter-occupied housing percentage: 34%
- Population growth: 0.00%
- Task growth: 0.67%
- Holding revenue enhancement avg. range (largest share of households): + $three,000
→View Ohio rental properties
18. Pennsylvania
- Median home value: $245.153
- Median home value increase year-over-yr: 15.9%
- Occupied housing: 89%
- Average rent: $ii,060/month
- Average hire increment year-over-yr: 24.75%
- Renter-occupied housing percentage: 32%
- Population growth: - 0.04%
- Job growth: 0.49%
- Property tax avg. range (largest share of households): + $3,000
→View Pennsylvania rental properties
19. Texas
- Median abode value: $267,523
- Median dwelling value increase yr-over-year: xx.5%
- Occupied housing: 88%
- Average rent: $1,448/month
- Average rent increase yr-over-year: ten.94%
- Renter-occupied housing percentage: 38%
- Population growth: ane.02%
- Task growth: 2.97%
- Belongings revenue enhancement avg. range (largest share of households): + $3,000
→View Texas rental properties
xx. Utah
- Median home value: $505,789
- Median dwelling house value increase twelvemonth-over-year: 29.6%
- Occupied housing: 90%
- Average rent: $ane,636/month
- Average rent increase year-over-year: 23.49%
- Renter-occupied housing percentage: 29%
- Population growth: 1.42%
- Task growth: iv.fourteen%
- Holding tax avg. range (largest share of households): $800 - $1,499
How to have the side by side stride to find your best state
In one case yous've identified the all-time states to invest in, the adjacent step is to begin researching and investigating rental property on a local level.
That's because while a specific state may exist good for investors on a macro level, cities and towns inside each state may overperform (or underperform) the state averages. For example, many people today are moving to the suburbs and smaller secondary cities inside the same state to escape from the loftier price of living in bigger urban areas.
The fact is that nearly every state has places where real estate is proficient and some places where it is not. Simply by choosing the best states to invest in existent manor in, then narrowing downwardly your selection by city, you tin exponentially increment your success as a real estate investor.
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