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Investor Insights Blog|The Top 10 Most Expensive States for Self-Directed Real Estate Investors in 2024

Real Estate

The Top 10 Most Expensive States for Self-Directed Real Estate Investors in 2024

Top 10 most expensive states for real estate investment properties in an IRA

Curious to discover the hottest real estate markets of 2024? Our latest Self-Directed Real Estate Market Report unveils the top 10 states where property prices soared, capturing the attention of savvy investors. From the lush landscapes of Vermont to the vibrant streets of Washington, D.C., these high-value markets highlight where the big property investments are happening. Let’s explore which states made the list and why these markets are commanding top dollar.

The Self-Directed Real Estate Market Report is an annual glimpse into how Equity Trust clients are using their retirement accounts to build wealth through real estate. The 2024 edition provides comprehensive data, case studies, and valuable insights to help both seasoned and novice investors navigate the real estate market with confidence. This report covers trends from the past decade, offering a detailed look at how real estate strategies and purchase prices have evolved over time.

Here are the states that emerged in this year’s report as producing the highest and lowest prices on real estate investments.

Top 10 Most Expensive States

Based on our latest data, here are the top 10 states where property investments commanded the highest prices in 2023, and the median purchase price in each state:

  1. Vermont: $632,000
  2. Wyoming: $449,083
  3. Washington, D.C.: $354,840
  4. Hawaii: $347,034
  5. Utah: $284,057
  6. Idaho: $254,982
  7. Iowa: $249,707
  8. Nevada: $242,175
  9. Delaware: $225,579
  10. Colorado: $194,049

How These Prices Compare to National Averages

To put these numbers into perspective, let’s compare them with the national real estate purchase data for 2023. According to the Federal Reserve Bank of St. Louis, the national median home purchase price in 2023 was approximately $430,000. This indicates that many of the top 10 states for Equity Trust investors are significantly above the national median, especially Vermont and Wyoming.

Vermont’s median price of $632,000 is nearly 47% higher than the national average, reflecting its strong market demand and limited supply.

10 Least Expensive States

Conversely, the bottom 10 states highlight more affordable real estate opportunities, with median purchase prices well below the national average:

  1. Louisiana: $31,975
  2. Alaska: $32,074
  3. California: $35,254
  4. Mississippi: $48,218
  5. Nebraska: $54,317
  6. Kansas: $60,053
  7. Kentucky: $60,821
  8. Arkansas: $66,265
  9. North Carolina: $66,443
  10. New York: $68,872

These states present attractive options for investors looking to enter the real estate market without significant capital investment. The prices in these states are less than 20% of the national median, making them ideal for those starting out or diversifying their investment portfolios.

Discover More: Download the Full Report

Self-Directed Real Estate Market ReportInterested in learning more about the real estate trends that could shape your investment strategies? Download the full 2024 Self-Directed Real Estate Market Report to get detailed insights on:

  • States with the highest and lowest purchase prices in 2023
  • The hottest markets for out-of-state buyers
  • Trends in home prices for Equity Trust investors versus the national average
  • Preferred investment strategies, whether it’s rehabs, rentals, or flips
  • Much more!

Don’t miss out on the opportunity to gain a deeper understanding of the self-directed real estate market. Download the complete report and start planning your next investment today!

ACCESS NOW

 


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