Home Value Has More than Doubled In These States – Did Your State Make The Cut?

It’s no secret that real estate in the United States have been on the rise, with no signs of slowing down. New research has revealed the states where homes have gained the most value in the past year. The study by architecture experts Architecture Lab used data from Zillow to compare the average home value of 2013 and 2023 in every state to see where the most significant percentage increases in value were.

Did your state make the cut? Here’s the top 10 starting from #10.

10. Tennessee

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Tennessee ranked 10th with a 125.83% increase in home value from $132,804 in 2013 to $299,910 in 2024.

Tennessee is steeped in music history and Southern hospitality. It’s the heartland of country music, with cities like Nashville and Memphis offering rich cultural experiences, live music, and legendary barbecue. The state has no personal income tax on wages and boasts a low cost of living, making it economically attractive. Tennessee’s diverse geography includes the Great Smoky Mountains, providing stunning scenery and outdoor activities. With its vibrant culture, economic opportunities in healthcare, manufacturing, and entertainment, and friendly communities, Tennessee is a state that blends tradition with modern living.

9. Montana

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Montana ranked 9th with a 125.99% increase in home value from $191,731 in 2013 to $433,297 in 2023.

Montana, the “Big Sky Country,” is synonymous with sprawling landscapes, rugged mountains, and open spaces. It’s a dream destination for those seeking solitude and a connection with nature, offering some of the best fishing, hunting, and wildlife watching in the country. The state’s economy benefits from a mix of agriculture, mining, and a growing tourism sector, drawing visitors to attractions like Glacier National Park and Yellowstone. Montana’s small-town charm, combined with a low population density, provides a peaceful and community-oriented lifestyle.

8. Colorado

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Colorado ranked 8th with a 128.02% increase in home value from $229,732 in 2013 to $523,830 in 2023.

Colorado offers a unique combination of outdoor adventure and urban sophistication. The Rocky Mountains provide a playground for skiers, hikers, and nature lovers, while cities like Denver and Boulder offer a cosmopolitan atmosphere with a thriving arts scene, and diverse culinary experiences. The state has a strong economy, particularly in the aerospace, biotech, and telecommunication sectors. With its focus on health and wellness, a high quality of life, and a population that values the outdoors and education, Colorado continues to attract a dynamic and active community.

7. Washington

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Washington ranked 7th with a 139.44% increase in home value from $231,979 in 2013 to $555,460 in 2023.

Washington state is a blend of lush natural beauty and innovative urban centers. It’s home to some of the biggest names in tech, including Amazon and Microsoft, making it a hub for tech professionals. The scenic beauty of the Pacific Northwest, with its forests, mountains, and waterways, provides endless opportunities for outdoor adventures. Cities like Seattle are known for their vibrant cultural scenes, coffee culture, and environmental consciousness. Despite its higher cost of living, the state’s commitment to progressive values, health, and education make it a top choice for many.

6. Utah

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Utah ranked 6th with a 140.66% increase in home value from $206,783 in 2013 to $497,643 in 2023.

Utah stands out with its unparalleled natural beauty, boasting some of the most impressive national parks in the country, including Zion, Arches, and Bryce Canyon. Outdoor enthusiasts relish the world-class skiing, mountain biking, and hiking available in this State. Utah’s strong economy is fueled by a burgeoning tech sector, dubbed “Silicon Slopes,” and a business-friendly environment. The state also offers a high quality of life with safe neighborhoods, excellent schools, and a strong sense of community, drawing families and professionals alike to its picturesque towns and cities.

5. Arizona

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Arizona ranked 5th with a 142.15% increase in home value from $171,299 in 2013 to $414,801 in 2023.

Arizona is a state known for its stunning natural beauty, from the Grand Canyon to the red rocks of Sedona. It offers year-round sunshine, making it a paradise for those who love the outdoors and prefer a warm climate. The state has a rich cultural heritage, influenced by Native American and Hispanic traditions, which is reflected in its art, food, and community events. Cities like Phoenix and Tucson offer a blend of urban amenities, including dining, shopping, and entertainment, with the tranquility of surrounding desert landscapes. Arizona also has a growing economy, with industries like technology and healthcare providing ample employment opportunities, while the cost of living remains competitive compared to other states with similar benefits.

4. Georgia

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Georgia ranked 4th with a 145.42% increase in home value from $126,844 in 2013 to $311,301 in 2023.

Known for its Southern charm and rich history, Georgia offers a warm climate and a variety of landscapes, from the Appalachian Mountains in the north to the Atlantic coast in the east. The Peach State is home to thriving metropolitan areas like Atlanta, which is a cultural and economic powerhouse with a diverse population, a strong job market, and a flourishing arts scene. Georgia’s cost of living is reasonable, and the state has been investing in education and infrastructure, making it an attractive place for families and businesses.

3. Nevada

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Nevada ranked 3rd with a 157.94% increase in home value from $159,459 in 2013 to $411,316 in 2023.

Nevada’s allure goes far beyond the neon lights of Las Vegas. The state boasts a low tax burden, with no state income tax, which can be particularly appealing for entrepreneurs and retirees. Its landscape offers striking contrasts, from the entertainment capital of Las Vegas to the tranquil beauty of Lake Tahoe and the vast expanse of the desert. Nevada is also a state of opportunity, with a growing job market in technology, hospitality, and green energy sectors. Its sunny weather, diverse communities, and commitment to innovation make it a promising destination for residents seeking growth and recreation.

2. Florida

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Florida ranked 2nd with a 164.37% increase in home value from $144,464 in 2013 to $381,922 in 2023.

The Sunshine State, Florida, is a magnet for those in pursuit of warm weather, beautiful beaches, and an abundance of entertainment. With no state income tax and a cost of living that’s manageable in many areas, it’s a favorite among retirees and those looking to stretch their dollar further. The state’s thriving tourism industry also provides a robust job market, while its unique ecosystems, such as the Everglades, offer unique experiences for nature enthusiasts.

1. Idaho

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Idaho ranked 1st with a 171.03% increase in home value from $159,567 in 2013 to $432,476 in 2023.

Idaho, often referred to as the Gem State, is not just a haven for nature lovers but also a burgeoning hub for those seeking a balanced lifestyle. With its dramatic landscapes, including majestic mountains and serene lakes, Idaho offers a plethora of outdoor activities like hiking, skiing, and fishing. The state’s low cost of living, combined with a strong sense of community and safety, makes Idaho an ideal place for those looking to settle down in a place where nature and progress harmonize.

Source: Architecture Lab

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