Lower Prices For Southern Homes2 min read
Generally speaking, homes located in many southern states are lower in price than in many of our northern states. In my opinion this is related to higher property taxes, median income and available land.
For example: Texas, Louisiana, Mississippi and Alabama have a much lower median home prices than say New Jersey, Virginia and many other northeastern states. Texas, with it’s abundance of land is probably one of the lowest in home prices in the nation. Louisiana, Mississippi and Alabama lower home prices are mainly due to lower median income and lower property tax rates.
Of course supply and demand is the crucial main factor to consider and the employment opportunities in each state play an important role in the average price of homes in all areas of the nation.
That said, Texas and Louisiana are probably the place to live if one is looking for lower home and general real estate prices. Fair property taxes and employment opportunities are also attractive in these two states.
For example: Southeast Texas and Southwest Louisiana are highly desirable locations for homes for sale. The southeast Texas area from Marshall south to Beaumont, has many small towns well spaced from 10 to 20 miles apart. This makes for an equal supply and demand for homes for sale. Houston, on the other hand is a metropolitan area with more demand than supply, making the Houston home prices more expensive.
Louisiana primarily consists of small towns with a few large cities. Lower property taxes in the rural towns and adequate employment opportunities make the rural areas of Louisiana a prime area for lower home prices.
In Conclusion: On the whole, many southern states offer a host of attractive reasons to relocate to the south.