With more and more businesses moving to Texas in recent years, the number of new residents coming to the state continues to rise. Sadly for many looking to move, the cost of buying a new home in the Lone Star State has seen a large increase as well.
However, despite many reports about the high real estate costs a new study has revealed Texas is the fifth cheapest state to buy a house in the United States.
Rocket Mortgage recently conducted a study to determine the cost of buying a home in each state. The study looked at factors such as cost of living index and median household income to determine the rankings. According to CW33, Texas came in fifth on their rankings thanks to a cost of living index of 92.1 and a median household income of $75,100.
As for the rest of the country, Tennessee ranked as the cheapest state to buy a home, while Oregon was the most expensive. Many were shocked by these findings, especially those currently looking for a new home in DFW. Maybe living in the middle of nowhere isn’t such a bad option after all.
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