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If you are looking for a home, you might not have much luck in the Northeast.
Nine of the 10 best cities to buy or own a home are either west of the Mississippi River or in Florida, according to a study by GoBankingRates. With a median home value of $483,900 and a state income tax rate of 5.53 percent, Jersey City was the only metro area in the Northeast to make the cut, clocking in at No. 5 on the ranking.
The online personal finance company ranked the 10 best places based on criteria that included affordable home prices, rising property values and low taxes based on information from Zillow and the 2017 American Community Survey by the Census Bureau.
Cities in Florida and Nevada dominated the list, with Hialeah, Florida, taking the top spot with a median home value of $286,300 and a state income tax rate of 0 percent.
St. Petersburg, Florida followed with a home value of $216,400, and Tampa ranked sixth. North Las Vegas ranked third, at $261,500 and a state income tax of 0 percent. Reno was seventh and Las Vegas eighth.
Fremont, California, was No. 4, Dallas No. 9 and and Salt Lake City No. 10.
Home values have increased 5.4 percent over the last year and are expected to jump 2.5 percent the next, according to Zillow data. [CNBC] – Mike Seemuth