The costs of owning a home
If you’re a homeowner, you already know that there are a lot of expenses that come with owning your own home. If you’re looking to buy in the near future, you can check out some of the costs associated with homeownership. You can also check out these 50 tips for preparing to buy a home.
One of those is to get your credit in good shape. You can track your credit scores and see how your payment history and other money moves are impacting your credit by using our absolutely free Credit Report Summary.
Here is how the states rank, based on effective tax rate (lowest to highest):
50. Hawaii
Effective Tax Rate: 0.32%
Average Home Value: $784,583
Average Property Tax: $2,489
Highest Average Metro Property Tax: Honolulu, $2,853
Total Single-Family Homes: 263,544
Total Property Taxes: $655,859,737
49. Alabama
Effective Tax Rate: 0.48%
Average Home Value: $161,853
Average Property Tax: $776
Highest Average Metro Property Tax: Birmingham-Hoover, $1,229
Total Single-Family Homes: 1,416,458
Total Property Taxes: $1,099,560,543
48. Colorado
Effective Tax Rate: 0.52%
Average Home Value: $394,604
Average Property Tax: $2,046
Highest Average Metro Property Tax: Denver-Aurora-Lakewood, $2,452
Total Single-Family Homes: 1,474,840
Total Property Taxes: $3,017,021,019
47. Tennessee
Effective Tax Rate: 0.54%
Average Home Value: $181,331
Average Property Tax: $981
Highest Average Metro Property Tax: Chattanooga, $1,076
Total Single-Family Homes: 2,462,587
Total Property Taxes: $2,414,870,997
46. Delaware
Effective Tax Rate: 0.56%
Average Home Value: $271,585
Average Property Tax: $1,526
Highest Average Metro Property Tax: N/A
Total Single-Family Homes: 268,144
Total Property Taxes: $409,301,861
45. West Virginia
Effective Tax Rate: 0.57%
Average Home Value: $271,585
Average Property Tax: $802
Highest Average Metro Property Tax: Huntington-Ashland, $893
Total Single-Family Homes: 503,299
Total Property Taxes: $403,808,142
44. South Carolina
Effective Tax Rate: 0.63%
Average Home Value: $204,349
Average Property Tax: $1,294
Highest Average Metro Property Tax: Charleston, $2,062
Total Single-Family Homes: 1,461,713
Total Property Taxes: $1,891,139,228
43. District of Columbia
Effective Tax Rate: 0.64%
Average Home Value: $772,008
Average Property Tax: $4,915
Highest Average Metro Property Tax: Washington-Arlington-Alexandria, $4,963
Total Single-Family Homes: 48,752
Total Property Taxes: $239,609,457
42. Nevada
Effective Tax Rate: 0.64%
Average Home Value: $293,432
Average Property Tax: $1,873
Highest Average Metro Property Tax: Las Vegas, $1,774
Total Single-Family Homes: 701,103
Total Property Taxes: $1,313,426,630
41. Utah
Effective Tax Rate: 0.65%
Average Home Value: $300,245
Average Property Tax: $1,948
Highest Average Metro Property Tax: Ogden-Clearfield, $1,831
Total Single-Family Homes: 671,168
Total Property Taxes: $1,307,378,832
40. Arkansas
Effective Tax Rate: 0.67%
Average Home Value: $150,742
Average Property Tax: $1,006
Highest Average Metro Property Tax: Little Rock, $1,349
Total Single-Family Homes: 966,864
Total Property Taxes: $972,976,892
39. Arizona
Effective Tax Rate: 0.68%
Average Home Value: $282,423
Average Property Tax: $1,918
Highest Average Metro Property Tax: Tucson, $2,437
Total Single-Family Homes: 1,731,919
Total Property Taxes: $3,321,478,730
38. Louisiana
Effective Tax Rate: 0.71%
Average Home Value: $183,591
Average Property Tax: $1,302
Highest Average Metro Property Tax: New Orleans, $1,864
Total Single-Family Homes: 1,303,899
Total Property Taxes: $1,698,204,632
37. Kentucky
Effective Tax Rate: 0.74%
Average Home Value: $165,285
Average Property Tax: $1,217
Highest Average Metro Property Tax: Louisville, $1,655
Total Single-Family Homes: 1,352,969
Total Property Taxes: $1,646,371,009
36. Wyoming
Effective Tax Rate: 0.76%
Average Home Value: $222,449
Average Property Tax: $1,691
Highest Average Metro Property Tax: N/A
Total Single-Family Homes: 152,852
Total Property Taxes: $258,423,896
35. California
Effective Tax Rate: 0.77%
Average Home Value: $619,491
Average Property Tax: $4,783
Highest Average Metro Property Tax: Bakersfield, $2,399
Total Single-Family Homes: 7,451,864
Total Property Taxes: $35,642,959,906
34. North Carolina
Effective Tax Rate: 0.78%
Average Home Value: $217,560
Average Property Tax: $1,706
Highest Average Metro Property Tax: Durham-Chapel Hill, $2,927
Total Single-Family Homes: 2,955,186
Total Property Taxes: $5,041,987,758
33. Montana
Effective Tax Rate: 0.80%
Average Home Value: $242,342
Average Property Tax: $1,950
Highest Average Metro Property Tax: N/A
Total Single-Family Homes: 218,757
Total Property Taxes: $426,566,206
32. Georgia
Effective Tax Rate: 0.86%
Average Home Value: $204,399
Average Property Tax: $1,757
Highest Average Metro Property Tax: Atlanta, $2,079
Total Single-Family Homes: 2,989,257
Total Property Taxes: $5,251,647,262
31. Mississippi
Effective Tax Rate: 0.86%
Average Home Value: $143,357
Average Property Tax: $1,236
Highest Average Metro Property Tax: Jackson, $1,424
Total Single-Family Homes: 826,867
Total Property Taxes: $1,021,799,579
30. Washington
Effective Tax Rate: 0.88%
Average Home Value: $406,602
Average Property Tax: $3,592
Highest Average Metro Property Tax: Seattle, $4,767
Total Single-Family Homes: 1,847,717
Total Property Taxes: $6,636,087,773
29. Oklahoma
Effective Tax Rate: 0.89%
Average Home Value: $142,683
Average Property Tax: $1,272
Highest Average Metro Property Tax: Oklahoma City, $1,650
Total Single-Family Homes: 1,196,564
Total Property Taxes: $1,521,917,123
28. Indiana
Effective Tax Rate: 0.94%
Average Home Value: $143,016
Average Property Tax: $1,351
Highest Average Metro Property Tax: Indianapolis, $1,720
Total Single-Family Homes: 1,938,580
Total Property Taxes: $2,618,310,864
27. Alaska
Effective Tax Rate: 0.96%
Average Home Value: $336,088
Average Property Tax: $3,225
Highest Average Metro Property Tax: Huntington-Ashland, $893
Total Single-Family Homes: 148,221
Total Property Taxes: $478,053,738
26. New Mexico
Effective Tax Rate: 0.97%
Average Home Value: $227,540
Average Property Tax: $2,214
Highest Average Metro Property Tax: Albuquerque, $2,202
Total Single-Family Homes: 572,602
Total Property Taxes: $1,267,491,253
25. Virginia
Effective Tax Rate: 0.99%
Average Home Value: $321,992
Average Property Tax: $3,181
Highest Average Metro Property Tax: Virginia Beach, $2,521
Total Single-Family Homes: 2,311,374
Total Property Taxes: $7,352,471,265
24. Oregon
Effective Tax Rate: 1.02%
Average Home Value: $342,488
Average Property Tax: $3,495
Highest Average Metro Property Tax: Portland, $4,146
Total Single-Family Homes: 964,852
Total Property Taxes: $3,372,374,666
23. Idaho
Effective Tax Rate: 1.02%
Average Home Value: $236,120
Average Property Tax: $2,415
Highest Average Metro Property Tax: Boise City, $2,213
Total Single-Family Homes: 470,126
Total Property Taxes: $1,135,221,302
22. Florida
Effective Tax Rate: 1.05%
Average Home Value: $278,629
Average Property Tax: $2,936
Highest Average Metro Property Tax: Naples-Immokalee-Marco Island, $5,035
Total Single-Family Homes: 5,043,659
Total Property Taxes: $14,808,112,731
21. Maryland
Effective Tax Rate: 1.05%
Average Home Value: $326,151
Average Property Tax: $3,437
Highest Average Metro Property Tax: Baltimore, $3,278
Total Single-Family Homes: 1,685,294
Total Property Taxes: $5,793,093,142
20. Minnesota
Effective Tax Rate: 1.06%
Average Home Value: $260,373
Average Property Tax: $2,752
Highest Average Metro Property Tax: Minneapolis-St. Paul-Bloomington, $3,507
Total Single-Family Homes: 1,568,498
Total Property Taxes: $4,316,053,505
19. Missouri
Effective Tax Rate: 1.11%
Average Home Value: $173,044
Average Property Tax: $1,923
Highest Average Metro Property Tax: St. Louis, $2,530
Total Single-Family Homes: 1,889,825
Total Property Taxes: $3,633,221,145
18. North Dakota
Effective Tax Rate: 1.11%
Average Home Value: $227,882
Average Property Tax: $2,539
Highest Average Metro Property Tax: Fargo, $2,696
Total Single-Family Homes: 165,946
Total Property Taxes: $421,387,935
17. Massachusetts
Effective Tax Rate: 1.21%
Average Home Value: $455,642
Average Property Tax: $5,513
Highest Average Metro Property Tax: Boston, $6,624
Total Single-Family Homes: 1,426,203
Total Property Taxes: $7,862,552,338
16. South Dakota
Effective Tax Rate: 1.38%
Average Home Value: $195,438
Average Property Tax: $2,701
Highest Average Metro Property Tax: Sioux Falls, $2,753
Total Single-Family Homes: 206,322
Total Property Taxes: $557,236,832
15. Iowa
Effective Tax Rate: 1.43%
Average Home Value: $158,691
Average Property Tax: $2,270
Highest Average Metro Property Tax: Des Moines, $3,561
Total Single-Family Homes: 1,100,452
Total Property Taxes: $2,498,309,539
14. Maine
Effective Tax Rate: 1.43%
Average Home Value: $274,961
Average Property Tax: $3,937
Highest Average Metro Property Tax: Portland, $4,448
Total Single-Family Homes: 214,542
Total Property Taxes: $844,568,960
13. Kansas
Effective Tax Rate: 1.47%
Average Home Value: $172,654
Average Property Tax: $2,532
Highest Average Metro Property Tax: Wichita, $2,153
Total Single-Family Homes: 867,569
Total Property Taxes: $2,196,871,236
12. Nebraska
Effective Tax Rate: 1.50%
Average Home Value: $174,731
Average Property Tax: $2,614
Highest Average Metro Property Tax: Omaha, $3,089
Total Single-Family Homes: 567,796
Total Property Taxes: $1,484,030,705
11. Michigan
Effective Tax Rate: 1.52%
Average Home Value: $165,584
Average Property Tax: $2,524
Highest Average Metro Property Tax: Ann Arbor, $4,456
Total Single-Family Homes: 3,617,172
Total Property Taxes: $9,128,770,495
10. Wisconsin
Effective Tax Rate: 1.61%
Average Home Value: $199,072
Average Property Tax: $3,196
Highest Average Metro Property Tax: Madison, $4,871
Total Single-Family Homes: 1,644,878
Total Property Taxes: $5,256,720,608
9. Rhode Island
Effective Tax Rate: 1.64%
Average Home Value: $316,486
Average Property Tax: $5,195
Highest Average Metro Property Tax: Providence-Warwick, $4,800
Total Single-Family Homes: 243,941
Total Property Taxes: $1,267,347,836
8. Ohio
Effective Tax Rate: 1.68%
Average Home Value: $155,415
Average Property Tax: $2,616
Highest Average Metro Property Tax: Columbus, $3,636
Total Single-Family Homes: 3,377,526
Total Property Taxes: $8,836,073,431
7. New York
Effective Tax Rate: 1.88%
Average Home Value: $372,854
Average Property Tax: $7,013
Highest Average Metro Property Tax: New York, $9,384
Total Single-Family Homes: 3,170,812
Total Property Taxes: $22,236,206,289
6. Pennsylvania
Effective Tax Rate: 1.89%
Average Home Value: $206,280
Average Property Tax: $3,900
Highest Average Metro Property Tax: Philadelphia, $5,324
Total Single-Family Homes: 3,388,941
Total Property Taxes: $13,215,670,426
5. Connecticut
Effective Tax Rate: 2.00%
Average Home Value: $348,513
Average Property Tax: $6,963
Highest Average Metro Property Tax: Bridgeport-Stamford-Norwalk, $10,400
Total Single-Family Homes: 833,532
Total Property Taxes: $5,804,256,783
4. Vermont
Effective Tax Rate: 2.02%
Average Home Value: $255,242
Average Property Tax: $5,150
Highest Average Metro Property Tax: Burlington, $5,604
Total Single-Family Homes: 246,689
Total Property Taxes: $1,270,380,094
3. New Hampshire
Effective Tax Rate: 2.03%
Average Home Value: $292,452
Average Property Tax: $5,935
Highest Average Metro Property Tax: Claremont-Lebanon, $5,668
Total Single-Family Homes: 321,532
Total Property Taxes: $1,908,139,330
2. Texas
Effective Tax Rate: 2.06%
Average Home Value: $226,553
Average Property Tax: $4,660
Highest Average Metro Property Tax: Austin, $7,012
Total Single-Family Homes: 6,610,286
Total Property Taxes: $30,802,480,121
2. Illinois
Effective Tax Rate: 2.13%
Average Home Value: $227,242
Average Property Tax: $4,845
Highest Average Metro Property Tax: Chicago, $5,812
Total Single-Family Homes: 3,203,168
Total Property Taxes: $15,517,823,616
1. New Jersey
Effective Tax Rate: 2.31%
Average Home Value: $367,036
Average Property Tax: $8,477
Highest Average Metro Property Tax: Trenton, $8,103
Total Single-Family Homes: 2,452,282
Total Property Taxes: $20,788,294,213
This article originally appeared on Credit.com.
