The financial service provider IPX1031 has conducted a study to determine the overall best states in which to own a tiny home. As the hot housing market grows more competitive, the demand for so-called tiny homes has only increased. They offer a lower-risk investment for first-time buyers with prices ranging between $30,000 and $60,000, according to the National Association of Realtors. As the tiny-house movement swept the U.S., many homeowners have downsized to properties below 600 square feet.
The cheapest states to purchase a tiny home in are (in order) Mississippi, Nebraska, North Dakota, New Hampshire and Kentucky. But a good price does not always reflect the quality of life. So to determine the overall best state to live in a tiny home, the IPX1031 ranking considers many factors: median income, the cost of living index, regional temperature and the percentage of public park space.
With that in mind, Florida ranked No. 4 on IPX103’s list of the best states for tiny home ownership. Due to the environment, it’s no surprise that adventurous homeowners would enjoy the Sunshine State. In Florida, the average price of a tiny home is $50,460. Most notably, though, Florida’s percentage of park land is the highest on the list: a whopping 6.63%.
Florida is preceded in the ranking by Georgia, Texas and Kansas and is followed directly by California.