Appreciating Home Prices – The statistics for Arkansas exhibit an upward drift in home prices. As per the Federal Housing Finance Agency, the state’s house prices increased 1.2% over the first quarter of 2017. Also, over the latest four quarters, house prices went up by 4.2%.
Low Cost of Living – It can be terrifying to look at the cost of single-family homes and food expenses in the ‘big city’ states like New York and California. That’s not the case with Arkansas. For example, the cost of living in North Little Rock is 58% cheaper than in New York City, 36% economical than in Washington, DC, and 21% inexpensive than in Chicago.
Job Opportunities – Arkansas has a lot to offer in terms of jobs. As greater Little Rock, northwest and northeast Arkansas proceed to develop, professionals are wanted to fill jobs in a variety of fields, including agriculture and technology. These professionals will want homes, which is a blessing to real estate investors.
Suburb Trend – We see the beginning of a new shift – first-time home buyers are searching for properties in suburban areas. This might be the best opportunity to invest in a single-family home in the Arizona suburbs.
Taxes – The cost of living may be cheap in Arkansas, but the state holds 40th rank in the U.S. when it comes to the worst states for taxpayers. However, because you are considering a 1031 Exchange in Arkansas, taxes are not something you need to be worried about.
Let’s also get a better understanding of the 1031 Exchange.