Factors Considered
The research conducted by Compare the Market took into account the following factors to determine the cheapest states for home improvement:
- Median Age of Houses (State Averages)
- Median Home Value (State Averages)
- Median Home Improvement Loan Value (State Averages)
- Mean Hourly Laborer Wage (State Averages)
- Number of Construction Employees per 1,000 People in each state
Are you curious to know which states made it to the top? Keep reading to find out!
New Mexico: Affordable and Vibrant
Taking the lead is New Mexico, a state that offers reasonable laborer wages and boasts the highest number of construction workers per 1,000 people (13.37). But there’s more to New Mexico than just affordability. From the famous Albuquerque International Balloon Festival to the International Folk Art Market, there is always something exciting happening here. Outdoor enthusiasts can enjoy exploring the state’s 35 state parks and three national parks. Moreover, New Mexico’s unique cuisine showcases a delightful fusion of Spanish, Native American, and Mexican influences. Lastly, the state is home to renowned research institutions such as Sandia National Laboratories and Los Alamos National Laboratory.
Mississippi: Charm, Innovation, and Affordability
In second place is Mississippi, with an average household age of 36 years. This state boasts the second cheapest home prices, with an average of $136,596. Additionally, Mississippi offers home improvement loan values that are among the most affordable in the country, averaging at $45,000. Living in Mississippi provides residents with a delightful mix of Southern charm, innovation, and cutting-edge culture. Nature lovers will appreciate the temperate climate, abundant waterways, and vast forested areas. The state’s proximity to the Gulf of Mexico also means access to beautiful beaches. Among the top places to live in Mississippi are Oxford, Tupelo, and Jackson.
Regardless of where you live, these states offer affordable options for home improvement projects. Whether you’re looking to renovate a bathroom or undertake a complete property transformation, consider these cost-effective locations for your next endeavor.
3. West Virginia
The state of West Virginia offers some of the most affordable homes in the U.S., with an average home value of $115,018. This makes it an attractive option for those looking to buy a home without breaking the bank. In addition, West Virginia has a high concentration of construction employees, with 10.57 per 1,000 people. This means there are plenty of opportunities to hire experts and keep the costs of home improvement projects reasonable.
West Virginia is known for its picturesque mountains, rolling hills, and numerous state parks. This provides residents with a plethora of outdoor recreational options, including hiking, mountain biking, skiing, fishing, hunting, and whitewater rafting. The state also boasts several cities that are considered great places to live, such as Charleston, Huntington, Wheeling, and Morgantown.
4. South Carolina
South Carolina takes the fourth spot on our list. The average age of homes in this state is 32 years, making it one of the states with the newest housing on average. With 9.12 construction workers per 1,000 people, South Carolina also has a strong workforce to support home improvement projects.
What makes South Carolina even more appealing is its location on the beautiful Atlantic Ocean. Residents can enjoy beach access and indulge in a wide variety of water activities. Additionally, the state is home to over 40 craft breweries, offering beer enthusiasts a vibrant and diverse scene. And when it comes to cuisine, South Carolina does not disappoint. From mouthwatering barbecue to Asian-inspired dishes and fresh seafood, there’s something to satisfy every palate.
Alabama
Taking the fifth spot on our list is Alabama. The average value of a home in this state stands at $163,900, making it one of the most affordable housing markets in the country. Moreover, Alabama offers competitive hourly laborer wages, making it an attractive option for those looking to complete home improvement projects.
Alabama is blessed with year-round warm temperatures and stunning white sandy beaches. It boasts four national forests, the renowned 440-mile Natchez Trace Parkway, a historic forest trail, and several prestigious golf courses. With such natural beauty and recreational opportunities, Alabama provides everything you need to enjoy the good life.
For more information on the most affordable home improvement states, check out the complete list on CompareTheMarket.
