Missouri Ranks #3 As Best State For House Flippers

The State of Missouri has been tabbed as the third most attractive state across the country to house flippers…those who buy properties below market value and then resell at a profit.

That’s according to the website morta.com which used six key metrics for its study including home sales activity, affordability, remodeling costs, property taxes, migration trends and five-year price growth.

The worst states for house flippers, according to morta.com, are: New York, New Jersey, Massachusetts, California and Hawaii while the best states are North Carolina, Tennessee, Missouri at #3, South Carolina and Maine.

From the study:

3. Missouri (76.25/100)

Missouri ranks third overall with a score of 76.25. One of Missouri’s biggest advantages is the absence of a transfer tax (0 Estimated Median Transfer Tax), which reduces transaction costs, while the Five-Year Sale Price Change of 47.03% further enlarges flipping profit margins.

Missouri also has the eighth most active housing market in the country, with its 110.99 Home Sales per 100,000 People, so properties spend a shorter time on the market. Market liquidity is likely fueled by the properties’ affordability, reflected by a Median Property Price of only $258,000, way below the country’s median value, and a Metro Price-to-Income Ratio of 3.52, which is among the 10 lowest in the country. In Missouri, the zero transfer tax and the growing and highly liquid market mean house flippers can do well buying and selling multiple properties.