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recent study by SoCal Home Buyers analyzed all 50 states to determine the best and worst places for property investments. The study considered factors like median home prices, rental yields, property tax rates, and cost of living to create a property investment score. According to experts, choosing the right location is crucial for successful real estate investing.
"The key to successful property investment lies in selecting the right location," said Doug Van Soest from SoCal Home Buyers. "It's all about finding a balance between affordability and potential returns."
Based on the study, these five states are top contenders for property investors:
Louisiana tops the list with a score of 93.65 out of 100. With a median listing price of $279,997, a rental yield of 2.06%, and a low effective property tax rate of 0.62%, Louisiana offers attractive returns while keeping expenses in check.
West Virginia comes in second with a score of 93.43. The state boasts a median listing price of $242,450, a high rental yield of 2.50%, and one of the lowest property tax rates at 0.49%. While its cost of living index is higher than average, West Virginia's combination of affordable home prices and strong rental returns makes it an attractive option for budget-conscious investors.
Mississippi ranks third with a score of 91.76. The state offers a median listing price of $299,900, a rental yield of 2.13%, and a low effective property tax rate of 0.62%. With its affordable cost of living index of 88.3, Mississippi is a budget-friendly option for those seeking good returns on their investment.
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