|
RANK
|
STATE
|
MEDIAN RENT
|
MEDIAN HOME PRICE
|
MEDIAN HOME PRICE (year on year growth in %)
|
|
1
|
Delaware
|
$1,150
|
$327,300
|
1.30%
|
|
2
|
Alaska
|
$1,240
|
$379,600
|
4.50%
|
|
3
|
Connecticut
|
$1,201
|
$393,700
|
6.60%
|
|
4
|
Florida
|
$1,218
|
$407,200
|
-0.40%
|
|
5
|
Maryland
|
$1,415
|
$421,800
|
0.80%
|
|
6
|
Nevada
|
$1,159
|
$428,100
|
8.10%
|
|
7
|
Virginia
|
$1,257
|
$440,200
|
-0.20%
|
|
8
|
New Hampshire
|
$1,145
|
$452,700
|
4.40%
|
|
9
|
New Jersey
|
$1,368
|
$477,600
|
5%
|
|
10
|
Oregon
|
$1,173
|
$510,900
|
-3.20%
|
For the parameters, we ranked the top ten best states with median rental charges that are above the national price and with the lowest median home prices. Let’s look at them closely:
1. Delaware
|
MEDIAN RENT
|
MEDIAN HOME PRICE
|
|
$1,150
|
$327,300
|
First up, we have the state of Delaware. Its median home price is below the national median while the opposite is true for its median rent. Delaware has tons of parks, lighthouses, museums, and other national heritage spots, making it attractive to property investors and tourists. It is also the home of the historical First State National Historical Park.
2. Alaska
|
MEDIAN RENT
|
MEDIAN HOME PRICE
|
|
$1,240
|
$379,600
|
Major cities in Alaska like Fairbanks, Anchorage, and Cooper Landing are great places for investment. This is thanks to indoor and outdoor activities, tourist destinations, and food hubs. All these factors pushed Alaska to land on the second spot of the best states for property investment. Also, the median home price is lower than the national median. The same goes for the median rent. This can mean faster return on investment (ROI) for real estate investors.
3. Connecticut
|
MEDIAN RENT
|
MEDIAN HOME PRICE
|
|
$1,201
|
$393,700
|
In 2019, Connecticut had the highest per capita personal income in the US. As such, it is not surprising that this wealthy state made it to our list. While the cost of living is above average in Connecticut than in most states, it still attracts a lot of property investors every year. This is mostly due to renters wanting to live in Connecticut because of high-paying jobs, and low crime rate. Another reason is the presence of Yale University in the area.
