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Despite the skyrocketing real estate prices in many areas of the country, retirement investors were able to find affordable properties for their IRAs in 2021.
Equity Trust clients investing in real estate in their IRAs or other accounts paid an average of nearly $119,000 in 2021, up from $99,000 in 2020, according to the 2022 Self-Directed Real Estate Market Report. This average purchase price is well below the national median sale price – nearly $412,000 – for all home sales in 2021, as reported by Zillow.
Our clients’ comparatively low average purchase amount suggests that IRA investors who may not have a lot of capital to get started are finding more affordable options that enable them to participate in the market with their retirement accounts.
Where did investors pay the most for real estate in their IRAs 2021?
Looking at data on a state level, median purchase prices ranged from $25,000 to just over $300,000.
It may not be surprising to see that Hawaii tops the list of most expensive states for Equity Trust clients’ real estate investments at $301,000. Following Hawaii are Washington, DC with a $253,000 median price and Utah at $208,000.
Here are the most expensive states for self-directed real estate investors in 2021.
Top 10 States for Real Estate Prices for Equity Trust Investors
By Median Purchase Price
1. Hawaii – $301,000
2. Washington, DC – $253,000
3. Utah – $208,000
4. Washington – $188,000
5. South Dakota – $169,000
6. Vermont – $168,000
7. Arizona – $151,000
8. Massachusetts – $129,200
9. Wyoming – $129,000
10. Rhode Island – $125,000