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, Massachusetts ranks as the No. 9 best state to live in a tiny home. There, the average cost to purchase is $46,520. Coupled with the high median income of $85,843 and a relatively large percentage of park space — 4.23% — it’s a solid environment to begin your tiny home adventure.
However, the top five states in the ranking are Georgia, Texas and Kansas, Florida and California.