A picture of a tiny home on a wheeled trailer, parked on a grassy lot with hills, trees, and mountains in the background.

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Top Places to Buy a Tiny Home

November 17, 2021

While more homeowners have been interested in gaining space during the pandemic, the market for tiny homes is still appealing to certain segments, particularly investors and first-time home buyers.

The affordability of these homes is one of the biggest draws. Many tiny homes cost between $30,000 to $60,000. For comparison, the median price for a starter home is $233,400, according to the National Association of REALTORS®.

IPX1031, a 1031 exchange transaction firm, recently analyzed home listing data to examine the tiny home market by state. Researchers found that Mississippi is the most affordable state to purchase a tiny home ($30,000), followed by Nebraska ($34,000), North Dakota ($34,333), New Hampshire ($34,950), and Kentucky ($35,000).

The states with the priciest tiny homes tend to mostly be located in the West, led by Hawaii ($93,333), California ($74,917), and Nevada ($71,963).

The Tiny Home Market Is Still a Big Draw

IPX1031 researchers identified the best overall states for tiny homes by factoring in the average cost to purchase a tiny home, median income, cost of living index, and livability factors like the average annual temperature and the percentage of state and local park land.

A list of the top 25 states in America for buying a tiny home

 

Source: 
Best States for Tiny Homes,” IPX1031 Insight Blog (November 2021)