Financial website GOBankingRates recently conducted a study to find "the best place to buy a home in every state based on the quality of the area and what sort of value you can expect based on the local housing market." The study used data from real-estate websites Zillow and AreaVibes.
Researchers analyzed each state using five metrics: livability (measuring factors such as amenities, employment and education); median home listing price; median home value; home value forecast (gauging the "return you can expect on your money"); and buyer-seller index (a score that determines "whether the current market favors people looking for housing or looking to sell" relative to other towns in that same metro area).
Based on the results, the top place to buy a home in California is Hawthorne, a city in Los Angeles County that's home to Elon Musk's Tesla, SpaceX and Boring Company.
- Livability score: 70
- Home value forecast: 6.7 percent
- Buyer-seller index: 0.11
And according to the most recent data available from Zillow, here's what buyers can expect to pay:
- Median listing price: $648,944
- Median home value: $647,700