The financial service provider IPX1031 has conducted a study to determine the overall best states in which to own a tiny home. As the hot housing market grows more competitive, the demand for so-called tiny homes has only increased. They offer a lower-risk investment for first-time buyers with prices ranging between $30,000 and $60,000, according to the National Association of Realtors. As the tiny-house movement swept the U.S., many homeowners have downsized to properties below 600 square feet.
The cheapest states to purchase a tiny home in are (in order) Mississippi, Nebraska, North Dakota, New Hampshire and Kentucky. But a good price does not always reflect the quality of life. So to determine the overall best state to live in a tiny home, the IPX1031 ranking considers many factors: median income, the cost of living index, regional temperature and the percentage of public park space.
With that in mind, IPX1031 has named Georgia as the No. 1 best state for tiny home ownership. In addition to the beautiful landscape, the average price of a tiny home is roughly $43,819. Additionally, Georgia reports a median income of $61,980 and a cost of living index score of 94.64. The average temperature also doesn’t hurt: 62.3 degrees Fahrenheit.
Georgia is followed directly on the list by Texas, Kansas, Florida and California.