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If you’re a real estate investor, you might be wondering where the priciest properties are located (as well as where the “bargains” are). You might assume states with the priciest real estate in general would be at the top of the “most expensive” list. However, that wasn’t always the case for our real estate investor clients in 2020.
For a third year, we’ve compiled our Equity Trust Self-Directed Real Estate Market Report, which reveals how and where Equity Trust clients used their IRAs and other retirement accounts in the past year to invest in real estate with tax advantages.
After analyzing purchase prices of all clients’ real estate investments in 2020, it was surprising to see that some of the states associated with high property prices didn’t make the Top 10 list. In fact, in some cases, they fell on the Bottom 10 states list.
So, who made the list? The state with the highest median real estate purchase price in 2020: Hawaii at $337,000. Washington is in a distant second, with a median purchase price of $178,000.
Here’s the entire list of the top 10 expensive states for real estate in an Equity Trust IRA: