Illinois Is The 2nd Worst State To Buy A Home

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If you are looking to buy a home for the first time, or once again, you should probably know where to buy. Fortunately, a new survey came out to tell us which states were the best and worst to purchase a home in. Unfortunately, neither Iowa and especially Illinois didn't rank to well.

To find out which states were the best and worst to buy a home in, SmartAsset conducted their sixth annual survey to give us the answers. SmartAssest compared all 50 states across the following 10 metrics:

Median price per square foot
Home value appreciation
Ratio of home value to income
Foreclosures per 10,000 homes
Average annual homeowners insurance
Burglary rate
Median annual property taxes
Effective property tax rate
Average closing costs
Average closing costs as a percentage of median home value.

After sorting through all of that information, these were the states that ranked in the top 10.Wyoming took the cake for the best state to by a home. Personally, I don't know a soul that lives in Wyoming but SmartAsset found their statistics to be the best.

Wyoming

One-Year Home Value Appreciation = 5.61%
Ratio of Home Value to Income = 3.74
Effect Property Tax Rate = 0.60%
Foreclosures per 10,000 Homes = .26
Average Annual Homeowners Insurance = $1,263

How did Iowa and Illinois do? As you've seen from the title, Illinois did terrible. SmartAsset found Illinois to be the second worst state to live in. These are the statistics that SmartAsset found:

Illinois