Home Prices Are Growing Fastest in These 15 States

Just like clothing trends, the popularity of a state can fluctuate over time. When a state is viewed as trendy, residents will flock to the area, resulting in a population boom. As people move in, the available housing inventory will begin to shrink, driving up costs on just about everything.

Moving to one of these states can make it challenging to get ahead financially, which is why it's essential to know which areas are experiencing an upward trend before you make a purchase. 

According to research from Redfin, these are the 15 fastest-growing states in the country.

Median home list price: $590,000

While the median home price in Washington, DC, is significantly higher than the median home price nationwide, crowds still flocked to this capital city. If you're looking for densely populated neighborhoods with walkability and can swing the high cost of living, this could be the move to make.

Median home list price: $412,900

Florida's median home list price is lower than others on the list of fastest-growing states, thanks in part to the lower density of the state. You'll also find a tax-friendly environment here. The lack of income tax is a big draw for many new residents.

Median home list price: $333,800

Texas is another no-income tax state, where people come looking for more financial freedom. They'll also find space here. Texas spans nearly 270,000 square miles, which means the Lone Star State has plenty of room to welcome its new residents.

Median home list price: $557,700

A strong job market and quality schools are two of the big reasons new residents are gravitating towards Utah. U.S. News and World Report even ranked it as the number one state in the country.

Median home list price: $376,000

New residents will love South Carolina for its smiling faces and beautiful places, just like the state license plate advertises. It's a southern state full of charm, beaches, and mountains. It also boasts a cost of living that's lower than the national average.

Median home list price: $461,200

Nevada has Las Vegas, but it also has stunning natural parks and unbelievable landscapes. Add in the absence of income tax, state-level property tax, or estate tax, and it becomes an appealing place to establish long-term roots.

Median home list price: $478,200

Idaho has become a popular destination for Americans seeking states with more space and access to outdoor activities, and the Gem State hasn't lost its appeal. It's a place with beautiful natural landscapes and an adventurous spirit, which newcomers are excited to find.

Median home list price: $377,800

With cities like Raleigh, Durham, and Charlotte drawing in professionals from across the country, North Carolina is one of the fastest-growing states. The beach and the mountains are both a quick drive away. What more could you ask for?

Median home list price: $352,000

Delaware is a great place to shop, as it has no sales tax, but it's also a popular destination for those looking to put down new roots. There is also a low property tax rate and, with some of the most popular beaches along the East Coast, it's a great place to settle down.

Median home list price: $446,500

The sunshine and access to outdoor recreation in Arizona continue to draw new residents in. Popular with people of all ages, the state remains a favorite among its residents and visitors alike. 

Median home list price: $539,800

While New Jersey isn't a cheap place to live, it often looks affordable for those moving from more expensive surrounding areas, especially New York. Plus, in New Jersey, you'll have an easier time finding smaller, walkable towns with all of the amenities of a city, minus the traffic.

Median home list price: $625,000

The beauty of the Pacific Northwest is unmatched, but that's not the only reason new residents are flocking to Washington State. The tech sector has continued to bring in new jobs, making it an appealing move for those who can afford the higher median home price of above $600,000.

Median home list price: $386,400

There's no state income tax in Tennessee, which is always an appealing reason for would-be new residents to make a move. Add in four seasons, small town charm, and the draw of the mountains, and it's easy to see why people are moving to the Volunteer State.

Median home list price: $389,900

In Georgia, you'll find Southern hospitality, beautiful beaches, and refreshing mountain air, along with big cities, rich history, and small-town charm. When you consider the strong employment opportunities available, this becomes a no-brainer for many looking to make a move.

Median home list price: $597,700

While some research out there shows that people are leaving Massachusetts, the small state is also gaining population. Their affordability may be low, especially considering the median home price is significantly higher than the other fast-growing states, but a strong economy is also drawing new people in. It's also always a good idea to visit first to avoid money mistakes. 

As you can see, the states that seem to be drawing more residents can come with a higher price tag. 

Finding a way to keep more cash in your wallet can help you afford a move to one of these pricier destinations. Just remember, once you're there, your other bills may be bigger as well, so it's important to plan ahead so you don't find yourself struggling to make ends meet once you settle in.