The No. 1 most expensive state to buy a home in — it’s not New York or California
Published: Aug 30, 2019 6:31 a.m. ET
A home in Massachusetts might be more expensive than one in California once all is said and done, thanks in part to a higher property tax rate.
By
Jacob
Passy
Prospective home buyers may want to steer clear of the Bay State if they don’t want their purchase to break the bank.
Massachusetts ranked as the most expensive state to buy a home in, according to a report from personal-finance website SmartAsset. The analysis assessed 48 states and Washington, D.C., based on the following metrics (Delaware and Louisiana were not included due to insufficient data):
Effective property tax rate, based on U.S. Census Bureau data
Median listing price and price per square foot, according to Zillow ZG, +0.44%
Median value for homes in the bottom third of the market
Average closing costs, according to SmartAsset’s own closing cost calculator
https://www.marketwatch.com/story/the-no-1-most-expensive-state-to-buy-a-home-in-its-not-new-york-or-california-2019-08-29?mod=mw_theo_homepage