2019 was a year when housing crisis took a sweep over most of the middle class person’s wallets. The National Low Income housing Coalition reported that there wasn’t any earning individual who would afford the rent of 2- bedroom apartment in any county of America, despite working for 40 hours a week.
Expensive housing options was a national problems in the entire country, let alone cities like San Francisco and New York, where cost of living is considered extremely high.
Trusted long distance moving companies collaborated with Moving Apt, a platform that provided moving assistance to customers, claim that there has been a significant drop in the number of people moving from one state to another in America due to unavailability of cost-effective housing options. However, on 2020, things are expected to change. A through research conducted on the US Housing Market rated top 10 affordable states country wide that one can consider for investing in a housing option.
The list is as follows:
South Dakota not only offers affordable housing but great job opportunities as well. The countries 20% economy survives on Agriculture. The key industrial employers in the city include bioscience, business and professional services, outdoor recreation and oil and gas production. The city is also home to many Tourist places including Mount Rushmore and the Badlands National Park that attracts several visitors every year. South Dakota rests at the 10th rank in the top 10 affordable US countries.
Number 9th in the list if Michigan, a city recorded to have country’s fifth-lowest cost of living. The key source of employment in Michigan is manufacturing and agricultural trade. Detroit serves as great ground for Lake shipping. Other sectors that can empower you to afford a house in Michigan with a lucrative earning include Trade, transportation and utilities, professional and business services, and health and education.
From 2014 to 2018, the median gross rent in West Virginia was calculated to be $711 per year as per the reports of U.S. Census Bureau. It is also a great place to live for people who are fan of an outdoorsy lifestyle as there are ample of hiking, mountain biking, skiing and whitewater rafting opportunities across the state. Mineral resourcing is the key source of employment, which however took a significant hit in the past few years. West Virginia is ranked number 8 on the list.
As per the Best States Rankings in 2019, Oklahoma is the second state in terms of cost of living. The oil and natural gas industry in the country serves the key employment needs. The city however is exposed to the threat of tornadoes with a record of 5 tornadoes in a day in 1974.It is the 7th state in the list of affordable states with housing options in the US.
Wearing the crown of the state with nation’s lowest poverty rates at 10.3%, North Dakota is the 6th state in the list. Farming is the key occupation in North Dakota and more than 1/5th of the state’s total population is engaged with agriculture.
Nebraska was ranked as one of the premium states in the GINI index scores in the 2019 Best States ranking. It indicates that the state has the best income quality as compared to the rest of the America. Producing the largest amount of beef, the state earns a great revenue. It has a great health infrastructure as a great economy.
Pennsylvania occupies the fourth ranking in the list of best affordable states in the US. Known for its great Industrial and agricultural produce, the state is home to the best coal, steel and roadworks sector. It is also known as the “Snack Food Capital of the World.” The housing options are very budget-friendly, along with great employment opportunities.
Indiana is a great option when you are looking for affordable housing. The city is known to have all types of accommodation options available at a cost-effective price. The employment industry here includes cars, car parts and pharmaceutical manufacturing. With great education opportunities to high fiscal stability, Indiana offers a great living.
Ohio has a great income potential with several job opportunities. Plastics and rubber, fabricated metals and electrical equipment and appliances are the key produce of the state.
The top rating state in the list of affordability is Iowa. The cost of living as well as housing here is very affordable. The city is known for being the home of nation’s largest cereal mills and the largest popcorn-processing plant. The state’s health infrastructure is also very strong.
So, these are the most affordable US states for investing in a house. Decade now and move to the state that makes your life easier in terms of budget and finances.