U.S. States with the Best Housing Markets Unveiled
3 min readA recent study conducted byHighland Cabinetryanalyzed housing across the U.S. to identifythe top performing housing markets. The study evaluates key metrics, including sale prices, home value increase, mortgage rates, days on the market as well as homeownership rate. The final score weighted all metrics equally, providing a balanced evaluation of the market. All data was sourced from open reports bythe U.S. Census, Business InsiderandStatista.
Here is the summary of the findings:
| State | Average Home Sale Price | Home Value Increase | 15-Year Mortgage Rate | Average Days on Market | Effective property tax | Homeownership rate | Composite score |
| Indiana | $235,465 | 3.10% | 4.94% | 49 | 0.84% | 70.8% | 78.03 |
| New Mexico | $298,984 | 2.70% | 4.91% | 63 | 0.67% | 70.90% | 73.66 |
| Kansas | $222,704 | 4.10% | 4.71% | 60 | 1.34% | 67.70% | 73.43 |
| Delaware | $385,331 | 2.60% | 4.97% | 72 | 0.61% | 74.10% | 72.23 |
| South Carolina | $292,948 | 1.80% | 4.99% | 64 | 0.57% | 72% | 71.64 |
| Florida | $396,318 | 0.70% | 4.97% | 42 | 0.91% | 67.20% | 71.23 |
| Wyoming | $340,036 | 3.10% | 5.01% | 73 | 0.56% | 72.70% | 71.05 |
| Ohio | $221,816 | 3.50% | 4.83% | 51 | 1.59% | 67.30% | 70.98 |
| Virginia | $384,026 | 3.10% | 5.08% | 51 | 0.87% | 67.40% | 70.78 |
| West Virginia | $160,044 | 2.30% | 5% | 75 | 0.57% | 74.50% | 70.51 |
The U.S. state with the best performing housing marketisIndiana, getting a composite score of 78.03, which reflects high demand for homes and fast selling time. Indiana offers one of the most affordable prices in the top 10, $235,465 on average. The house value in the state increased 3.1% over the last year, supporting high demand for housing. Homes here are sold in 49 days,second-fastest selling timein the ranking.
New Mexicorankssecondin the list of the states with top performing housing markets, scoring 73.66. The home prices here are more expensive than in Indiana but New Mexico’s market performs better with lower mortgage rates and effective property taxes, coming only at 0.67%.
Kansastakesthirdplace, with a score of 73.43. The state hasthe highest home value increaseamong the top 10 states at 4.1% but housing prices are still more affordable than in Indiana or New Mexico. The mortgage rate of 4.71% is the lowest in the ranking, making the Kansas housing market an appealing option for the home shoppers.
Delawareholdsfourthspot, gaining a score of 72.23. The housing market in Delaware stands out with the low effective property tax of 0.61%, taxing less than in New Mexico. The state offers stable home price growth and supports homeowners, with 74.1% of residents owning a private property.
South Carolinaisfifthin the ranking of the top performing U.S. housing markets, scoring 71.64. The state shows a high demand for housing, with homes spending 64 days on the market. South Carolina also offers an effective property tax of 0.57%, lower than in Delaware or New Mexico, creating a supportive housing market.
Floridafollows closely withsixthplace and a score of 71.23. The state stands out withthe fastest selling timeof 42 days, showing the high demand for housing. Only 67.2% of Florida residents are homeowners which provide vast opportunities for housing market growth.
Inseventhplace isWyoming, getting a score of 71.05. The state competes with other markets withthe lowest property tax ratein the top 10 at 0.56%. Wyoming experienced the same increase of home value as Indiana but the house prices are higher on average, with $340,036.
Ohioearnseighthplace, with a score of 70.98, with a strong house price growth of 3.5%. The state offers low mortgage rates and houses stay on the market for 51 days on average, keeping the competitive market position.
Virginiacomesninth, scoring 70.78. The state offers a competitive market, balancing low property taxes with higher pricing, $384,026 on average. Just as in Ohio, there is a high demand for housing, and homes stay on the market for the same length of 51 days.
West Virginiacloses the ranking of the top performing housing markets withtenthplace and a score of 70.51. The state offersthe lowest average home pricesof $160,044 together with low property tax. West Virginia’s market has a stable 2.3% growth in home value, creating an accessible market environment for long-term residents.
A spokesperson fromHighland Cabinetrycommented on the study: “When examining the top housing markets across the US it is important to look beyond just the average home prices and dig deeper into the fundamental factors driving market stability and growth. What makes this study particularly revealing is how it demonstrates that market strength isn’t necessarily correlated with high prices or rapid turnover rates. It gives a structure on how we should evaluate housing market health and potential.”
Neel Achary
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