All Star Home: West Virginia Most “House Rich” State

(Image via All Star Home)

All Star Home, Raleigh, N.C., sought to figure out what state is the most “house rich,” a status it defined as homeownership being dominant and homes being relatively affordable compared to the local median income. Per its analysis, West Virginia took the top spot.

West Virginia was followed by Iowa, Michigan, Indiana and Mississippi.

Davie, N.C., took the mantle of No. 1 house-rich city, followed by Buckeye, Ariz., Sugar Land, Texas, Fishers, Ind., and Pearland, Texas.  

El Paso, Texas, was the top house rich major city, followed by Oklahoma City, Indianapolis, Fort Worth, Texas, and San Antonio.

The least house rich states were California, Hawaii, New York, Nevada and Oregon.

The least house rich major cities included San Jose, Calif., San Francisco and Seattle.

All Star Home also conducted a survey to determine buyers’ thought processes when purchasing their homes. Almost half (49%) say they managed to stay within their budget during a home purchase.

The reasons why Americans don’t want to max out their budgets when purchasing a home–even in the current high-price environment–include wanting peace of mind to know they’re not maxed out (49%), wanting extra funds for upgrades and repairs (29%), wanting to save for other unrelated purchases (27%) and wanting extra funds for furniture (21%).