When it comes to having your own place, South Dakota is a perfect place to do it.

The Mount Rushmore State is in the top ten on Smart Asset's list of Best States for Homeowners, which looks at four key areas:

  • Median home price
  • One-year home value appreciation rate
  • Home value-to-income ratio
  • Effective property tax rate
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South Dakota is number-nine overall thanks in part to the lowest rate of foreclosure in America.

The state is one of only 15 to see home values increase by 14 percent (14.38%) or more between late 2021 and 2022, rising to a median price of $268,094.

West Virginia grabbed the top spot on the list thanks to the lowest percentage of households that are housing cost-burdened, with those who pay more than 30 percent of their income on housing (14.86%).

The Mountain State also ranks second for both home value-to-household income ratio (2.79) and median annual property taxes ($785).


  1. West Virginia
  2. Indiana
  3. Idaho
  4. Wyoming
  5. North Carolina
  6. Wisconsin
  7. Vermont
  8. Kentucky
  9. South Dakota
  10. Montana

Iowa and Minnesota both landed in the bottom half of the rankings.

The Hawkeye State is 27th with a median home price of $181,448 (fifth lowest in America), a one-year home value appreciation rate of 10.16 percent, a 2.66 home value-to-income ratio (lowest in America), and an effective property tax rate of 1.5 percent (10th highest in America).

The North Star State is 38th with a median home price of $311,012, a one-year home value appreciation rate of 7.39 percent (third lowest in America), a 3.67 home value-to-income ratio, and an effective property tax rate of 1.02 percent.

California is the worst state for home ownership with the second-highest home value-to-income ratio (7.63), second-lowest one-year home value appreciation rate (7.12%), and second-highest median home price ($714,604).


  1. California
  2. Maryland
  3. New York
  4. Illinois
  5. Connecticut
  6. Alaska
  7. Massachusetts
  8. Michigan
  9. Texas
  10. Louisiana

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