Since the pandemic, the housing market has been insane. People are paying for houses with cash, skipping inspections, and paying way over the asking price. Unfortunately, the trend is likely to continue. By 2030, the average cost of a home in some states is expected to double, and in some cases, even triple. Here are 10 states whose house prices will skyrocket in the next five years. Planning to move? Better start saving.
California
California has long been the source of hopes and dreams for Americans who seek new opportunities or aspire to strike it big in Hollywood. While the current average home price is greater than the national average, in 2030 it’s expected to reach $1,230,503. What better time than now to chase your dream? Make the move sooner rather than later, as living in California can be expensive.
Hawaii
Moving to Hawaii seems like the ultimate dream. Who wouldn’t enjoy beautiful beaches, comfortable weather, and an overall relaxed environment? It’s a permanent vacation. But dreams may soon be dashed with projected house prices. Currently, the average cost for your dream home in Hawaii is $777,428. By 2030, it is expected to rise to $1,424,263.
Washington
Washington state is another place with incredible natural beauty. Many people who want to experience the Pacific Northwest move to Washington. The average home price is under $500,000, but by 2030 it’s expected to increase to $733,210. If you like the rainy and moody weather of the Pacific Northwest, you’d better think about moving there sooner rather than later.
Colorado
Colorado is renowned for its stunning natural landscapes. Who wouldn’t want to live surrounded by mountains, forests, and wildlife? The average home in Colorado is over half a million dollars, and in five years it’s projected to soar over $1 million. Buying a home in the Centennial State is already expensive and isn’t expected to become any cheaper.
Utah
Thanks to the growing popularity of the show Secret Lives of Mormon Wives, Utah is trending. People may find its location the perfect place to live, but do so before the average cost of a Utah home rises. In 2030, the average price is projected to be $1,123,350. Compared to the projected average income of $56,787, owning a home seems impossible. Better hope your TikTok account goes viral.
Nevada
Nevada might be the dream destination for those who love gambling and warm desert weather. Las Vegas is a huge draw for vacationers and homeowners. However, by 2030, the average price of a home will be $1,042,647, which is 11.3% higher than today’s average. So, unless you plan to hit the jackpot, you should move to Nevada sooner rather than later.
Oregon
Oregon is another U.S. state with breathtaking views. Its mountains, lakes, and forests make it the perfect place for outdoor adventures. Who wouldn’t want to open their back door and immediately step into the wilderness? Unfortunately, the average cost of a house in Oregon is expected to be somewhere around $800,000. Good luck finding something cheaper.
Idaho
Idaho boasts a beautiful landscape of mountains, lakes, rivers, and scenic winters. If you love outdoor activities such as biking, hiking, and camping, it’s the perfect place to live. While the average cost of a home is a little under $400,000, prices are expected to skyrocket. By 2030, the average home is expected to cost $879,313. If you are planning to upend your life to experience more of the great outdoors, better do it soon.
Massachusetts
The average cost of a home in this East Coast state is expected to increase. Professionals seeking to join the fields of biotechnology, pharmaceuticals, education, and finance will make the housing market more competitive, potentially raising costs. With a high-income workforce and limited land availability, desirable living areas will be in high demand. Better start saving if Massachusetts is your dream destination.
Arizona
Many people move to Arizona for its warm weather. Living in Arizona is an excellent option if you’re tired of snow. While the average cost of a home is less than $400,000, by 2030 the average price is expected to be three-quarters of a million dollars. Retirees often move here for its temperatures, but if that’s your plan, you’d better start saving.
