Texas likes to do things bigger and better, and when we can't go big, we just get better! That's why the Lonestar state is now ranked as one of the best states for tiny homes.
According to a report from IPX1031, a financial services provider for real estate investors, Texas comes in at number 2 on their list for the best states for tiny homes.
Why A Tiny Home?
While having a large home certainly has its perks, over the past few years the market has seen a growing interest in being minimalistic and returning to simplicity.
Plus, things are only growing more expensive and spending less on a tiny home certainly has its advantages, especially for first time home buyers.
The Top Five
Here's the list of the top 5 states in the U.S. for tiny homes:
An average tiny home costs approximately $43,819 in the state of Georgia. Here in Texas that tiny home will run you about $48,120 on average. The good thing is that Texans have a median income of $64,034, which means that a tiny home won't be breaking the bank.
The folks at IPX1031 compiled the list based on 6 key factors. Those factors include:
- Tiny home cost
- Cost of living
- Median income
- Park land coverage
- Annual average temperature
- Tiny home legality and regulations in every state
After that each factor was weighted and ranked on a 25-point scale.
Believe it or Not
While Texas may rank as second in the list of best states for tiny homes, I'd like to believe that the average Texan would still prefer a ranch with plenty of acreage. As cute and affordable as a tiny home is, it just isn't quite the same as a larger property.