In the United States, housing prices vary depending on state and region. It’s crucial for homebuyers to know the most costly states when buying a house. We’ve already discussed the most affordable states where real estate investors, agents and brokers may have a better opportunity to capitalize and grow their business. This article will examine the 10 most expensive home value states according to the Zillow Home Value Index.
The Top 10 Most Expensive States in the U.S. to Purchase a Home
According to the Zillow Home Value Index, the top 10 most expensive states for home values are Hawaii, California and Washington. Prices vary by state and region. According to the Zillow Home Value Index, the top 10 states with the highest home values are Hawaii, California and the District of Columbia.
The states listed below offer homebuyers a variety of benefits, including natural beauty, outdoor recreation and quality of living. That said, they also have higher prices, so it is important that homebuyers carefully consider their budget and options before making a decision.
Hawaii
The first of our highly expensive real estate state is Hawaii, unsurprisingly. Hawaii is known for its beautiful beaches, warm weather, and stunning scenery. It is the most expensive place to purchase a home, according to the Zillow Home Value Index, which stands at just of the $800,000 mark. High home values are a result of the high cost of living and the limited space available on the islands.
California
California has some of the most desirable American cities, including Los Angeles, San Francisco and San Diego. It is the second-most expensive state in which to purchase a home, with a Zillow Home Value Index value of roughly $700,000. Homebuyers are attracted by the state’s booming technology industry, its warm climate and stunning coastline.
District of Columbia
Washington, D.C., is also the District of Columbia. It is the capital of America and the center of political activity. It is the third-most expensive state in which to purchase a home, according to Zillow Home Value Index. Home values are high because of the city’s historical landmarks, diverse neighborhoods and the vibrant job market.
Washington
Washington State is home to many major tech companies, including Amazon and Microsoft. It also has a stunning natural landscape. Zillow Home Value Index is $562,936, making it the fourth most expensive place to buy a home. Homebuyers are attracted by the state’s quality of life and job market.
Massachusetts
Also known to many as home to a sports “title town,” Massachusetts is rich in culture, history, and education. Zillow Home Value Index is $558,312, making it the fifth most expensive place to buy a home. High home values are attributed to the state’s world-renowned universities and high quality of living.
Colorado
One of the more developed and wealthier states of the west, Colorado is known as a state with stunning Rocky Mountains, outdoor recreational opportunities, and a booming technology industry. It is the sixth-most expensive state in which to purchase a home, according to the Zillow Home Value Index. Homebuyers are attracted by the state’s natural beauty, strong economy and high quality of life.
Utah
Utah has stunning national parks and a growing technology industry. Zillow Home Value Index is $506,072, and it’s the seventh most expensive place to buy a home. Natural beauty, quality of life, and outdoor recreational opportunities are all major attractions for real estate investors and homebuyers.
Oregon
Long after the trail had been blazed, Oregon became somewhat of a safe-haven for those seeking new opportunities that may not have been available in the east, not to mention less of the hustle and bustle usually found there. Oregon’s stunning coastline, opportunities for outdoor recreation, and high quality of life are its most notable features. Zillow Home Value Index is $485,474. It’s the eighth most expensive place to buy a home. Homebuyers are attracted by the state’s natural beauty, strong economy and welcoming communities.
New Jersey
Much like that of New York State, New Jersey has a diverse population and a strong economy. It also has a rich historical past. Zillow Home Value Index is $451,558, making it the ninth most expensive place to buy a home. High home values are attributed to the state’s close proximity to major cities like New York City and Philadelphia, as well as to its quality of life and strong job market.
Idaho
When you think of Idaho, you may think of potatoes but, this mid-western state has much more to it than meets the eye. Idaho has a growing technology industry, a stunning natural landscape, and outdoor recreation opportunities. Zillow Home Value Index is $435,373, making it the tenth most expensive state for homebuyers. Homebuyers are attracted to the state because of its strong economy, lower cost of living than other states in this list, and high quality of life.
