When you are ready to buy a house, there are many things to consider. What is your financial situation? How does your personal life match with a potential new home? What kind of home are you looking for? What is the reason for your move? What loan products are available to a borrower of your status?
Another question that may enter the fray is this; “Where do I move to?” The United States has a massive range of locations to choose from. Not only are there 50 states, but there are also distinct regions within each state that could fit your personal and financial goals.
You can learn more about a specific housing market by speaking to a real estate agent from that location. For now, let’s take a look at some of the best states and cities in this country that first-time buyers can move to for various reasons.
Top States for Affordability
If affordability is your primary concern, then you need to find the most affordable states to live in. An affordable state does not necessarily mean the cheapest state to move to. It should also incorporate other numbers such as the cost of living, taxes, and other expenses. Here are a few places where you can find plenty of options for affordable housing.
Midwest
As a whole, the Midwest is a great option for affordable homes. States like Ohio, Wisconsin, and Indiana all rank in the top 20 best states as affordable places to buy homes, and they each enjoy a good cost of living.
The famous Midwest hospitality also goes for LGBTQ+ individuals. The Buckeye State has a very large population of LGBTQ+ individuals raising children together, and the diversity index currently sits at around 61.1%. Indiana is especially great for LGBTQ+ parents, as about 34% of the community has kids.
While Wisconsin has a smaller population of gays, lesbians, bisexuals, and transgender folks, the Badger State was actually the first in the nation to pass anti-LGBTQ+ discrimination laws, a tradition that remains strong today. Don’t miss the Hawkeye state, either: Des Moines, Iowa, has a significant number of resources for LGBTQ+ individuals, including the LGBT Advisory Council.
The Midwest is overwhelmingly White, with about 76% of the population identifying as such. However, there has been a big push for greater racial equity across the region in recent years.
Many of these states are also on the lower end of average home values across the nation, so you can get a house for a decent price and lead a lifestyle that isn’t as expensive as other states. A midwestern state is a great place to start when searching for low-cost real estate or an affordable lifestyle.
South
If you are shooting for the cheapest states in terms of home prices, then no other region can match the South. Specifically, West Virginia, Alabama, and Mississippi have incredibly low house prices compared to the rest of the United States.
Part of the reason is that there are far more rural areas and small communities in these states that drive down the median home value, but if you are looking for more open spaces, then the South is brimming with affordable neighborhoods. Plus, you can look forward to that southern hospitality.
The South also has the highest population of Black individuals, as well as a significant Latino population. Unfortunately, it may be difficult for LGBTQ+ individuals here due to significant anti-LGBTQ+ laws, but there is also a strong sense of community; by choosing the right locale, especially in the bigger cities, you can still thrive here. For example, the Magnolia State has increased its LGBTQ+ protections in recent years, and the tide continues to turn toward equality in Mississippi.
Other Affordable Options
There are other states scattered across the land that offer a great mix of low cost of living and low home prices. Arkansas is considered the most affordable place to move because of the cost of living and the extremely low home price average. Iowa and Pennsylvania are not far behind, and even if you have a lower-than-average household income, you should be able to find plenty of places to afford in either state.
Top States for Job Opportunities
The state of the local economy should be a big factor in your decision about where to move. For example, if you still have many years of working ahead of you, it makes sense to move to a location where the local job market is growing so that you can have a reliable income in your new house. Here are a few states that are positioned well for long-term economic opportunities.
Texas
Texas is one of the fastest growing states in the country with thousands moving there every year. Part of the appeal of Texas is the thriving tech industry, with many companies opting to put their headquarters there rather than in more expensive states like California. The economy is diverse, offering job opportunities in many industries, so planning your budget should be easier in the future.
Plus, there are multiple large cities with massive populations like Austin, Dallas, and Houston. This state is also very friendly to businesses in terms of infrastructure, costs, and taxes, so the long-term appeal for job seekers is high.
The Lone Star State is incredibly diverse, with a large Latino population that has deep roots in the community. While many LGBTQ+ buyers may worry about their safety in Texas, about 4.1% of the population identifies as lesbian, gay, bisexual, or transgender, and many of the larger cities have a deeply rooted history of LGBTQ+ activism. This includes Dallas, which was one of the first cities in the United States to pass anti-discrimination laws.
North Carolina
Another option for those seeking healthy job markets is North Carolina. Two industries that are currently thriving in this state are healthcare and technology. Cities like Raleigh and Durham are seeing tremendous growth and a healthy median household income. Research Triangle Park was established in 1959 and is the largest research and development space in the United States, with over 7,000 acres hosting 300 companies and 65,000 employees.
Utah
Utah has one of the strongest positions in the nation for job seekers who want to save money and earn higher than the median income. The unemployment rate is very low, labor force participation is the highest in the nation, and the rate of job growth is in the top ten. Also, this state boasts cities like Salt Lake City and Provo, both of which have strong economies and business-friendly practices. This entices employers to the area, and so jobs are plentiful.
It’s important for LGBTQ+ borrowers to know that Utah is not very strong on anti-discrimination for same-sex couples and transgender individuals. The Movement Advancement Project gives it a poor rating due to very restrictive gender identity policies. However, the tide is turning: the Utah LGBTQ+ Chamber of Commerce has a list of resources that can help you find community and support.
Other States with Job Growth
When you buy a house in a new place, it is important to move to an area with economic opportunities and a higher median household income. There are several states we haven’t covered yet with healthy job markets that are great locations to buy a house. The state of Washington has multiple cities where job growth is a positive factor, like in Seattle and Spokane. Florida is another popular option when people want to move for a greater career. Tampa, Orlando, and Jacksonville are each thriving cities with varied industries for aspiring professionals. Even the state of Georgia, which features a strong statewide economy, might be the best place for you to buy a house. This is especially true if you look into the Atlanta area.
Top States for Quality of Life
Buying a house is not just about the property itself or the economic opportunities in that community. You should also make your decision based on the quality of life you can have in that area. People moving to the following states often experience a significant improvement in their overall well-being for many reasons.
Colorado
Colorado is a dream for people who want to balance the beauty of nature with strong economies and exciting outdoor activities. Over 300 days of sunshine a year make it a wonderful climate as well. Hiking and mountain trails are likely right outside your doorstep when you buy a house in Colorado, and population centers like Denver, Boulder, and Colorado Springs still make it possible to find plenty of job opportunities and amenities. Home prices are also manageable, so you can access that quality of life without destroying your budget.
Virginia
If you want a rich history settled in the rolling hills of the Appalachian mountains, as well as diverse communities and access to nature, you can hardly do better than Virginia.
Buy a house here and experience the wonders of the Blue Mountains, Shenandoah Valley, or the popular destination Virginia Beach. Richmond and Charlottesville are some of the primary cities, and in northern Virginia, you will find suburbs of the nation’s capital.
Those who want to be close to the one of the largest LGBTQ+ populations in the country will definitely want to buy near Washington, D.C. An incredible 9.8% of the population identifies as part of the community, and there are a variety of gay bars and other community centers available in this area.
Virginia may be a better choice for BIPOC purchasers than nearby West Virginia, as the Mountain State ranks 50th for diversity. In contrast, Virginia is 14th for diversity, and about 19% of the population is Black or African American.
Massachusetts
The Northeast region of the United States is well-known for its own beauty and rich history, and Massachusetts is no exception. The major metropolitan center of Boston is home to millions and comes with a strong sports culture. Public education is a major strength for this state, and smaller cities like Cambridge and Worcester are worth buying a house in. A great healthcare system, thriving job markets, and its location on the East Coast are further reasons to buy a house here and enjoy the quality of life.
Massachusetts has long been known as a bastion of LGBTQ+ rights and community, particularly around Boston. 5.4% of the population identifies as part of the community, and the Movement Advancement Project gives it a high rating for LGBTQ+ protections.
However, the state isn’t very diverse; over 72% of the population identifies as White. Still, this does not necessarily mean that BIPOC individuals will have a hard time here, as the state is known for its strong approach to building racial equity.
Housing costs are a little higher than the national average, so you may be facing a larger mortgage payment to access those benefits.
Other States with High Quality of Life
A normal home can become a dream home when you are living in a place with a great lifestyle. California is the largest state by population, but there is plenty of room to spread out. Additionally, the state is one of the most diverse in the United States, ensuring that BIPOC individuals will feel safe. There are strong anti-discrimination protections and a welcoming environment, which can be deeply reassuring to buyers of color.
Though you may think of California as a more expensive state, many areas in the Golden State are much more affordable than LA and San Francisco.
In Minnesota, you can move to the Twin Cities of Minneapolis and St. Paul for an affordable median home value and various lifestyles. For a more quaint experience in lush forests and smaller communities, New Hampshire is another good option.
Top States for Specific Preferences
Future homeowners may have specific preferences when they are looking to buy houses in certain states. It could be related to a stage of life, the type of family you have, or the specific passions that you care about. When you have a more specific vision for what is needed when you buy a house, you can look to the following states that will suit those circumstances.
Retirees
When people retire, they want to find good states to buy real estate that have lower property taxes, an affordable cost of living, and comfortable amenities nearby. Florida has one of the largest populations of retirees in the nation, and for good reason. Warm weather, lower taxes than the national average, and many active senior communities make it very appealing to those entering their golden years.
Delaware is another strong option for those thinking about retirement, as taxes are less severe and you can experience true coastal living. For a mild climate and the charm of inexpensive coastal communities, you could buy a house in South Carolina.
California, specifically Palm Springs, has long been known as a popular destination for LGBTQ+ retirees; in fact, about 50% of the population of this small city identifies as LGBTQ+. Retired gay and lesbian individuals can expect an inclusive environment with a great community.
Families with Children
Families with children will consider many factors like the total cost of living and the median home value when searching for new homes. Some of the most important elements are strong schools, family-friendly neighborhoods, and plenty of outdoor activities that can engage younger minds.
Virginia is well-known for its public school quality, as well as Maryland and Massachusetts.
If you are looking for outdoor adventures with your kids and great neighborhoods, then Texas and Colorado are the perfect states in which to buy a house for your family. In Texas, over 29% of the LGBTQ+ population has kids, meaning there’s plenty of community to be had here. Texas is also a very diverse area where your children can grow up in a complex, multifaceted culture and learn more about the world.
Outdoor Enthusiasts
There are plenty more states with amazing scenery and national parks like Montana, Idaho, and Wyoming. Each of these feature aspects of the vast wilderness in the United States with options for camping, hiking, biking, and more.
If you are seeking that Pacific Northwest beauty and activities like skiing or hiking, then you can’t go wrong with Washington or Oregon, which are also known for their progressive LGBTQ+ policies.
Washington LGBTQ+ individuals make up about 5.2% of the population, and over a quarter have kids, so you’ll be able to make parent friends. 5.6% of the population in Oregon identifies as LGBTQ+, and 23% have children, making it a great place to raise your kids in an inclusive environment.
These states are also very green, so you could save money on utility bills with alternative energy sources in your home. No matter where you decide to take on a monthly mortgage payment, you’ll fall in love with the great outdoors in these states.
However, Pacific Northwest states are not necessarily known for diversity. Washington State has a diversity rating of just 55.9, and Oregon’s is even lower at just 46.1. Still, the progressive policies and strong push toward racial diversity mean you can be part of the change.
Summary
What is most important to you when deciding where to go with your home-buying journey? Are you looking for states with a higher median household income and job security? Then Texas, North Carolina, and Utah are solid places to start looking for a real estate agent.
Leaning more toward the cheapest states for home prices? Consider the Midwest with Ohio and Indiana or the South with Alabama and Mississippi. Perhaps quality of life is your primary concern and you just want a place to pursue all your goals. Colorado, Massachusetts, and Virginia would fit the bill.
Finding the right place to move is a huge decision. Whether you are concerned about personal finance, career opportunities, family-friendly communities, or low interest rates, first-time home buyers and current homeowners alike should understand the plethora of options they have for places to move in the United States.
At Pride Lending, we’re committed to helping people from all walks of life secure funding for their biggest investment: a beautiful home to call their own. We’re here for everyone who wants to make the leap from renting to homeownership.
Our team includes allies and members of marginalized communities, including LGBTQ+ and BIPOC mortgage professionals. With our experience and commitment to advocacy, we’ll serve as your ally throughout the mortgage process, ensuring that you have everything you need to succeed. We’ll assist you in finding state, local, and national down payment assistance programs to reduce the upfront costs, as well as find options with low down payment requirements, sometimes as low as 3%.
To get started, give us a call at 725-231-0192 or email us at Andrew@pridelending.com. You can also apply today to get a better idea of what you can afford. We look forward to working with you.
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