8 Most Undervalued States To Buy or Invest in Property This Year, According to Real Estate Experts

When looking to buy or invest in property , you’ll want to take numerous things into account: what are the school districts like, what are the taxes, and exactly where will you be living. You might be thinking small, like the exact city or town to purchase real estate, but you might want to start thinking in terms of states. That’s because there are a bunch in America that are priced below value and you can get a great deal on them in 2024.

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Several real estate agents and experts told GOBankingRates what the most undervalued states to buy or invest property in this year are.

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8. Nevada

Nevada’s economy has diversified beyond tourism and gaming into sectors like finance, healthcare, and renewable energy, according to real estate attorney David J. Greiner, Esq. of the Grenier Law Corp

“While Las Vegas home prices have skyrocketed, Reno and Carson City remain affordable by comparison but are within commuting distance to major employers,” said Greiner. “For example, Tesla’s massive Gigafactory is in nearby Sparks. With major investments underway, northern Nevada’s real estate market is poised for substantial growth.”

7. West Virginia

“In West Virginia, cities like Charleston and Morgantown have growing tech and healthcare sectors, but real estate remains very affordable,” said Garrett Ham, the CEO of Weekender Management , a company specializing in short-term rental management.

Ham shared that “….you can find a nice 3-bedroom home in Morgantown for under $150,000. Strong job growth plus cheap housing is ideal for investors.”

6. California

Scott Beloian, the broker and owner of Westcoe Realtors in Riverside, California advised potential buyers to stop looking at the coast and instead, turn their real estate sights away from the water and on the central part of the Golden State.

“I see opportunities in inland areas that are often overlooked,” shared Beloian. “The Inland Empire has major employers in logistics, healthcare, and finance that continue to expand. However, strict regulations have limited new home construction, keeping prices low. Cities like Riverside and San Bernardino offer affordable housing and job opportunities, with homes under $350,000.”

Another market with potential in Beloian’s professional opinion is the High Desert, especially Victorville and Hesperia.

“With housing costs rising throughout Southern California, people are seeking alternatives within a reasonable commute,” Beloian remarked. New transportation projects will improve access to job centers like Los Angeles and Ontario. Although the High Desert was hit hard in the recession, prices remain 30-40% below their peaks, signaling room for growth.”

Rural areas outside Los Angeles like the Antelope Valley also hold promise, according to Beloian.

“Palmdale and Lancaster have major employers in aerospace, renewable energy, and transportation,” Beloian explained. “Housing is extremely affordable, with decent homes under $250,000. Proximity to job opportunities plus cheap living costs make these overlooked markets ripe for investment. With planning improvements underway, the Antelope Valley in particular seems poised for a resurgence.”

For investors seeking value, Beloian suggested looking to inland and desert communities in Southern California.

5. Idaho

“Idaho in particular has a booming tech sector in cities like Boise, but land and home prices have remained relatively affordable,” said Greiner.

“For investors, strong job growth plus affordable real estate is an ideal combination,” added Greiner.

Greiner shared that the median home price in Boise is still under $300,000. However, it is not expected to stay there for long as the city has already received an influx of new residents since 2020.

4. Missouri

Missouri also has major employers in tech and finance, especially in St. Louis and Kansas City, according to Ham.

“However, strict regulations have limited new home construction, keeping prices stagnant,” Ham explained and advising buyers to check out smaller cities like Springfield or Joplin.

Ham said these places are “…where prices are low but poised to rise as people seek affordable alternatives.”

3. Utah

“Utah also has a diversified, fast-growing economy with tech hubs in Salt Lake City and Provo,” offered Greiner. “However, strict zoning laws and high demand have kept home prices high in city centers.”

“Look instead at suburbs and smaller neighboring cities like Ogden, where home prices are still reasonable and there’s potential for price appreciation,” suggested Greiner.

2. Oklahoma

“While energy has long dominated Oklahoma’s economy, sectors like aerospace and finance are diversifying job opportunities, especially around Oklahoma City and Tulsa,” described Ham.

“Home prices in Oklahoma City have risen significantly, but remain reasonable in Tulsa and smaller towns,” Ham continued.

Ham stated that “….you can find a decent house in Bartlesville (home to Phillips 66 headquarters) for under $125,000. With several major companies expanding locally, northeast Oklahoma in particular shows promise for real estate investment.”

1. Texas

“San Antonio’s outer suburbs like New Braunfels and Seguin are attracting major employers but home prices remain affordable,” said Daniel Cabrera, the Owner and Founder of Sell My House Fast SA TX

Cabera noted how the median home in New Braunfels is still under $250,000 despite hosting manufacturing facilities for companies like Caterpillar. Strong job growth plus affordable housing signal opportunity.

“The Rio Grande Valley, including cities like McAllen and Harlingen, has a fast-growing logistics and trade sector due to its border with Mexico,” Cabera went on to describe. “However, home prices in the Valley remain some of the lowest in the nation. For investors seeking price appreciation, the potential is huge if economic expansion continues.”

“West Texas cities like Midland and Odessa are at the heart of the Permian Basin’s shale oil boom. Although oil prices have declined recently, production in the Permian remains cost-effective,” added Cabrera. This has spurred major investments in petrochemical plants and other spin-off industries. While Midland’s home prices have climbed, nearby Odessa remains affordable by comparison and poised for growth.”

For investors willing to weather some volatility, Cabrera believed West Texas offers a chance to buy in cheap and ride the next wave up.

“Do research on transportation, jobs, and new construction to find cities where housing costs remain reasonable but growth seems sustainable,” advised Beloian. “With so much focus on coastal markets, overlooked areas inland offer opportunities for substantial returns.”

This article originally appeared on GOBankingRates.com : 8 Most Undervalued States To Buy or Invest in Property This Year, According to Real Estate Experts