There’s an old saying that the three most important things in real estate are location, location, location. Where you buy matters almost as much as what you buy when it comes to shopping for a house, with factors ranging from the cost of living in your area to the quality of local schools ultimately playing a huge role in how satisfied you end up being with the decision.
Find Out: 5 Cities Where Homes Will Be Total Steals in Two Years
Learn More: How To Get Rich in Real Estate Starting With Just $1,000
A new GOBankingRates study is drilling deeper into this, identifying the best place to buy a home in every state based on the quality of the area and what sort of value you can expect.
The study used Zillow’s Market Heat Index to find markets that favor buyers. The index relies on a combination of engagement and listing performance inputs to provide insights into current market dynamics. It is calculated for single-family and condo homes. The lower the number, the better the market is for buyers.
With that in mind, here is the best place to buy a home in every state this fall, ranked in order of most favorable for buyers.
Okeechobee, Florida
- Zillow Market Heat Index: -27
- Average home value: $280,829
- Annual cost of living: $42,942
- Median household income: $44,922
- Livability: 77
Check Out: 20 Best Cities Where You Can Buy a House for Under $100K
Discover More: 5 Southern Cities Where You Can Buy a House for Under $100K
Shelby, North Carolina
- Zillow Market Heat Index: -23
- Average home value: $193,319
- Annual cost of living: $36,051
- Median household income: $46,176
- Livability: 75
Also See: 10 Housing Markets That Will Plummet in Value Before the End of 2024
McMinnville, Tennessee
- Zillow Market Heat Index: -15
- Average home value: $245,702
- Annual cost of living: $40,790
- Median household income: $42,310
- Livability: 65
Gaffney, South Carolina
- Zillow Market Heat Index: -4
- Average home value: $171,544
- Annual cost of living: $34,458
- Median household income: $38,059
- Livability: 66
Sulphur Springs, Texas
- Zillow Market Heat Index: -3
- Average home value: $54,950
- Annual cost of living: $39,197
- Median household income: $242,159
- Livability: 70
Eureka, California
- Zillow Market Heat Index: 0
- Average home value: $418,309
- Annual cost of living: $53,077
- Median household income: $51,971
- Livability: 63
Cedartown, Georgia
- Zillow Market Heat Index: 0
- Average home value: $195,889
- Annual cost of living: $36,201
- Median household income: $30,655
- Livability: 63
Explore More: America’s 50 Fastest-Growing Suburbs With Home Values Under $500,000
Kennewick, Washington
- Zillow Market Heat Index: 0
- Average home value: $423,096
- Annual cost of living: $52,008
- Median household income: $70,429
- Livability: 79
Altus, Oklahoma
- Zillow Market Heat Index: 7
- Average home value: $93,864
- Annual cost of living: $28,370
- Median household income: $56,620
- Livability: 65
Mount Sterling, Kentucky
- Zillow Market Heat Index: 9
- Average home value: $191,538
- Annual cost of living: $35,086
- Median household income: $47,408
- Livability: 63
Albertville, Alabama
- Zillow Market Heat Index: 11
- Average home value: $197,288
- Annual cost of living: $35,047
- Median household income: $55,933
- Livability: 61
Huntington, Indiana
- Zillow Market Heat Index: 12
- Average home value: $180,554
- Annual cost of living: $33,486
- Median household income: $50,748
- Livability: 68
Also Read: 3 Best States to Buy Property in the Next 5 Years, According to Experts
Mount Vernon, Ohio
- Zillow Market Heat Index: 15
- Average home value: $230,791
- Annual cost of living: $37,890
- Median household income: $52,286
- Livability: 75
Brookings, Oregon
- Zillow Market Heat Index: 15
- Average home value: $504,480
- Annual cost of living: $57,073
- Median household income: $79,109
- Livability: 60
Ottumwa, Iowa
- Zillow Market Heat Index: 17
- Average home value: $120,452
- Annual cost of living: $30,675
- Median household income: $53,085
- Livability: 77
Gulfport, Mississippi
- Zillow Market Heat Index: 17
- Average home value: $189,403
- Annual cost of living: $36,196
- Median household income: $43,499
- Livability: 71
Hot Springs, Arkansas
- Zillow Market Heat Index: 17
- Average home value: $244,441
- Annual cost of living: $39,104
- Median household income: $46,537
- Livability: 64
Read More: 5 Types of Homes That Will Plummet in Value in 2024
Jackson, Wyoming
- Zillow Market Heat Index: 19
- Average home value: $2,291,861
- Annual cost of living: $190,371
- Median household income: $101,477
- Livability: 78
Blackfoot, Idaho
- Zillow Market Heat Index: 19
- Average home value: $343,853
- Annual cost of living: $45,584
- Median household income: $57,951
- Livability: 82
Pittsburg, Kansas
- Zillow Market Heat Index: 23
- Average home value: $130,020
- Annual cost of living: $30,513
- Median household income: $42,371
- Livability: 65
Columbus, Nebraska
- Zillow Market Heat Index: 25
- Average home value: $263,828
- Annual cost of living: $42,591
- Median household income: $65,341
- Livability: 80
Houghton, Michigan
- Zillow Market Heat Index: 26
- Average home value: $228,350
- Annual cost of living: $40,701
- Median household income: $29,821
- Livability: 77
Find Out: How Much Money Is Needed To Be Considered Middle Class in Every State?
Pueblo, Colorado
- Zillow Market Heat Index: 26
- Average home value: $292,500
- Annual cost of living: $43,270
- Median household income: $52,794
- Livability: 74
Sunbury, Pennsylvania
- Zillow Market Heat Index: 28
- Average home value: $162,897
- Annual cost of living: $35,338
- Median household income: $42,238
- Livability: 75
Martinsville, Virginia
- Zillow Market Heat Index: 29
- Average home value: $134,206
- Annual cost of living: $31,502
- Median household income: $39,127
- Livability: 69
Kahului, Hawaii
- Zillow Market Heat Index: 30
- Average home value: $1,051,687
- Annual cost of living: $105,614
- Median household income: $94,712
- Livability: 72
Maryville, Missouri
- Zillow Market Heat Index: 31
- Average home value: $211,561
- Annual cost of living: $36,842
- Median household income: $49,144
- Livability: 77
Discover More: How Much a Comfortable Retirement Will Cost You in Each State
Berlin, New Hampshire
- Zillow Market Heat Index: 32
- Average home value: $189,997
- Annual cost of living: $35,250
- Median household income: $41,638
- Livability: 65
Fallon, Nevada
- Zillow Market Heat Index: 33
- Average home value: $372,398
- Annual cost of living: $50,212
- Median household income: $63,490
- Livability: 70
DeRidder, Louisiana
- Zillow Market Heat Index: 33
- Average home value: $152,365
- Annual cost of living: $34,265
- Median household income: $56,607
- Livability: 71
Payson, Arizona
- Zillow Market Heat Index: 33
- Average home value: $448,983
- Annual cost of living: $54,807
- Median household income: $60,095
- Livability: 66
Billings, Montana
- Zillow Market Heat Index: 34
- Average home value: $395,249
- Annual cost of living: $50,345
- Median household income: $69,692
- Livability: 77
Also See: How Far $750,000 in Retirement Savings Plus Social Security Goes in Every State
Spearfish, South Dakota
- Zillow Market Heat Index: 34
- Average home value: $435,826
- Annual cost of living: $55,517
- Median household income: $58,734
- Livability: 67
Easton, Maryland
- Zillow Market Heat Index: 34
- Average home value: $434,018
- Annual cost of living: $53,216
- Median household income: $75,198
- Livability: 73
Appleton, Wisconsin
- Zillow Market Heat Index: 34
- Average home value: $272,935
- Annual cost of living: $41,447
- Median household income: $75,469
- Livability: 86
Las Cruces, New Mexico
- Zillow Market Heat Index: 34
- Average home value: $291,839
- Annual cost of living: $42,301
- Median household income: $51,013
- Livability: 60
Austin, Minnesota
- Zillow Market Heat Index: 35
- Average home value: $175,583
- Annual cost of living: $32,767
- Median household income: $61,667
- Livability: 79
For You: How Long $1 Million in Retirement Will Last in Every State
Beckley, West Virginia
- Zillow Market Heat Index: 37
- Average home value: $138,859
- Annual cost of living: $32,235
- Median household income: $41,277
- Livability: 56
Carbondale, Illinois
- Zillow Market Heat Index: 39
- Average home value: $125,357
- Annual cost of living: $32,625
- Median household income: $27,360
- Livability: 71
Juneau, Alaska
- Zillow Market Heat Index: 40
- Average home value: $521,278
- Annual cost of living: $62,650
- Median household income: $95,711
- Livability: 82
Bangor, Maine
- Zillow Market Heat Index: 40
- Average home value: $278,423
- Annual cost of living: $42,451
- Median household income: $52,438
- Livability: 80
Vernal, Utah
- Zillow Market Heat Index: 45
- Average home value: $288,315
- Annual cost of living: $42,812
- Median household income: $58,869
- Livability: 76
Learn More: Here’s the Cost of Living in Every State
Rutland, Vermont
- Zillow Market Heat Index: 46
- Average home value: $267,498
- Annual cost of living: $43,519
- Median household income: $53,304
- Livability: 79
Ogdensburg, New York
- Zillow Market Heat Index: 47
- Average home value: $112,972
- Annual cost of living: $30,729
- Median household income: $58,184
- Livability: 67
Salisbury, Maryland
- Zillow Market Heat Index: 50
- Average home value: $258,839
- Annual cost of living: $40,630
- Median household income: $53,309
- Livability: 60
Dickinson, North Dakota
- Zillow Market Heat Index: 52
- Average home value: $300,108
- Annual cost of living: $43,237
- Median household income: $75,767
- Livability: 76
Atlantic City, New Jersey
- Zillow Market Heat Index: 55
- Average home value: $241,478
- Annual cost of living: $40,907
- Median household income: $35,188
- Livability: 55
Check Out: Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
Pittsfield, Massachusetts
- Zillow Market Heat Index: 59
- Average home value: $299,338
- Annual cost of living: $44,473
- Median household income: $66,859
- Livability: 74
New Haven, Connecticut
- Zillow Market Heat Index: 70
- Average home value: $325,033
- Annual cost of living: $51,169
- Median household income: $54,305
- Livability: 78
Providence, Rhode Island
- Zillow Market Heat Index: 76
- Average home value: $402,504
- Annual cost of living: $54,131
- Median household income: $61,365
- Livability: 82
Methodology: GOBankingRates used Zillow Research Data’s Market Heat Index to find housing markets that are tilted in favor of buyers. To qualify for this study, each location had to have all data points available. For each market that is most in favor of buyers, GOBankingRates found the total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. Cost-of-living indexes were sourced from Sperling’s BestPlaces. Using the cost of living and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the expenditure cost for each location was calculated. Using the average mortgage and expenditure costs, the total cost of living was calculated. The Zillow Home Value Forecast was sourced for each location, measuring the estimated one-year change in home values. The states were sorted to show the housing markets most in favor of buyers, representing the best places to buy a home in every state. All data was collected on and is up to date as of Oct. 9, 2024.
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This article originally appeared on GOBankingRates.com: The Best Place To Buy a Home in Every State
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