Arizona Tops List As Best State for House Flippers in 2024

Arizona Tops List As Best State for House Flippers in 2024

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By Pallavi Singal

A recent Highland Cabinetry study reveals Arizona, as the most preferred location for house flippers, highlighting the state's high sales rates, reasonable remodelling costs, and good return on investment. This thorough analysis ranks Florida and Colorado, highlighting each state's benefits in the competitive real estate market.

Arizona Tops List As Best State for House Flippers in 2024

Highland Cabinetry's latest study on the best states for house flippers has positioned South Carolina prominently, highlighting its favourable conditions for real estate investors. The comprehensive analysis considers key factors such as remodelling costs, sales rates, and average property prices across all 50 states, offering valuable insights for those looking to capitalise on the house flipping market. According to the research, Arizona stands out due to its affordable remodelling costs, high sales rates, and impressive return on investment potential.

According to the study, Arizona emerges as the premier state for house flipping with an impressive composite score of 72. The state excels with an average remodelling cost of $64,194, which is over $3,000 below the national average. This affordability factor significantly enhances the profitability potential for investors. Arizona boasts a robust sales rate of 76.8 houses per capita and offers a competitive average sale price of approximately $429,787, ensuring a lucrative market environment.

Arizona’s position as the top state for house flippers underscores its appeal," commented James McAllister, spokesperson for Highland Cabinetry. "The combination of affordable renovation costs and strong sales metrics creates a fertile ground for profitable ventures in real estate."

 

State  Most expensive price for remodelling Cheapest price for remodelling Average remodelling price House sales per capita Average house sale price Score
Arizona $67,412 $60,975 $64,194 76.8 $429,787 72.0
Florida $62,377 $55,531 $58,954 73.6 $396,318 69.6
Colorado $66,771 $61,879 $64,325 58.5 $548,602 69.6
Hawaii $84,997 $79,934 $82,466 26.2 $856,327 69.0
Idaho $60,531 $59,584 $60,058 64.5 $449,952 68.3
North Carolina $63,059 $58,396 $60,728 75.7 $328,181 68.0
California $93,196 $73,567 $83,382 30.1 $782,695 67.8
South Carolina $63,132 $61,789 $62,461 77.3 $292,948 67.3
Washington $75,144 $68,962 $72,053 46.5 $588,986 66.8
Tennessee $62,913 $58,596 $60,755 72.5 $316,473 66.4
National Average $71,777 $63,806 $67,791 46.9 $360,643 58.7

Florida and Colorado Share Second Place

Florida and Colorado both secure the second spot with a composite score of 69.6 each. Florida stands out with a cost-effective remodelling price of $58,954, which is approximately $5,300 lower than Colorado's $64,325. Florida also enjoys a higher sales rate of 73.6 per capita, making it an attractive option for house flippers aiming for quicker turnovers despite a lower average sale price compared to Colorado's $548,602.

Hawaii Takes Third Place

Hawaii ranks third in the study with a composite score of 69, driven by its highest average house sale price nationwide at $856,327. The state's average remodelling cost of $82,466 poses a higher initial investment, yet its premium property prices compensate for potential returns. With a sales rate of 26.2 per capita, Hawaii remains a niche market offering substantial profit margins for savvy investors willing to invest in higher-value properties.

Idaho and North Carolina in the Top Five

Idaho secures the fourth position with a score of 68.3, characterised by a modest remodelling cost averaging $60,058 and a balanced sales performance. North Carolina follows closely in fifth place with a composite score of 68, offering a higher sales rate of 75.7 and affordable property options with an average sale price of $328,181, making it an ideal starting point for new entrants into the house-flipping business.

rrCalifornia, South Carolina, Washington, and Tennessee

California ranks sixth in the study with a composite score of 67.8, boasting the second-highest average sale price of $782,695 after Hawaii. Despite higher remodelling costs that sometimes exceed $90,000, California's potential return on investment makes it an attractive market for house flippers looking to maximise profits.

South Carolina secures the seventh spot with a composite score of 67.3, showcasing the highest sales rate nationwide at 77.3 per capita. This, coupled with an average sale price of $292,948—below $300,000—makes South Carolina an ideal state for beginners in the house flipping industry. The state's affordable average remodelling cost of $62,461 further enhances its appeal among investors seeking cost-effective renovation projects.

Washington follows closely in eighth place with a composite score of 66.8, offering a balanced market environment with a high average sale price of $588,986. With an average remodelling cost of $72,053 and a sales rate close to the national average, Washington presents ample opportunities for profitable house-flipping ventures.

Tennessee rounds out the list with a composite score of 66.4, featuring a competitive sales rate of 72.5 and an affordable average remodelling cost of $60,755. The state's average sale price of $316,473 makes it a viable option for newcomers looking to enter the house-flipping market with lower initial investments.

Insights from Highland Cabinetry

James McAllister, spokesperson for Highland Cabinetry, emphasised the role of individual preferences in selecting the best state for house flipping. "Lower remodelling costs can significantly benefit both buyers and sellers," McAllister noted, stressing the importance of strategic investment decisions in maximising profitability in the real estate market.

Highland Cabinetry conducted an exhaustive study across all 50 states, analysing key expenses associated with house flipping. The study devised a comprehensive scoring system to identify optimal states for real estate investment by evaluating remodelling costs, sales rates, and property prices, 

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