CNBC reports that Hialeah, Fla., topped the list of places to own a home and save on taxes.
To help would-be homeowners keep their budgets in check, personal finance website GoBankingRates determined the best places in which to buy or own a home by looking at median home values as well as state and local tax rates, including income, sales and use tax rates (where applicable) and property taxes as a percentage of market value. The study of the 200 largest U.S. cities is based on data from Zillow and the Census Bureau’s 2017 American Community Survey.
Following Hialieah, where residents face no income taxes and an effective property tax rate of just 0.513%, St. Petersburg, Fla., North Las Vegas, Nev., Fremont, Calif., and Jersey City, N.J.
Advertisement
Related Stories
Economics
Mortgage Rate Declines Could Boost Home Sales Following Months of Low Activity
Encouraging economic news bumped mortgage applications up by 2.6% for the week ending May 3
Affordability
American Families Are Spending a Quarter of Their Income on Mortgage Payments
The average monthly mortgage payment is up more than 9% year-over-year
Affordability
Is Fractional Homeownership Any Kind of Solution for Housing Attainability?
The imbalance between housing supply and demand is spurring some innovative options within the real estate industry