Many investors in states with more expensive housing markets look to other states to purchase their investment properties.
As it turns out, many of those less expensive housing states are red states, that is, states that traditionally vote Republican, and many of the out-of-state investors are from blue states, or states that traditionally vote Democrat, according to a new report from ATTOM Data Solutions, a fused property database.
The report shows that 3.4 million single-family investment homes nationwide are owned by an out-of-state investor. That is about 16% of all single-family investment homes.
Here are the top 10 states with the most investment homes owned by out of state investors, where those investors are from, and if the state is red or blue – based on the most recent presidential election:
10. New Jersey
Single-family investment homes: 108,919
Where out-of-state investors are from: Pennsylvania with 42,361
9. Pennsylvania
Single-family investment homes: 1113,070
Where out-of-state investors are from: New York with 24,699
8. Michigan
Single-family investment homes: 116,137
Where out-of-state investors are from: Illinois with 22,271
7. California
Single-family investment homes: 117,139
Where out-of-state investors are from: Texas with 15,534
6. Texas
Single-family investment homes: 139,358
Where out-of-state investors are from: California with 51,069
5. Georgia
Single-family investment homes: 159,899
Where out-of-state investors are from: Florida with 39,691
4. Arizona
Single-family investment homes: 162,069
Where out-of-state investors are from: California with 55,822
3. Tennessee
Single-family investment homes: 185,116
Where out-of-state investors are from: Florida with 40,000
2. North Carolina
Single-family investment homes: 202,431
Where out-of-state investors are from: Florida with 38,045
1. Florida
Single-family investment homes: 365,959
Where out-of-state investors are from: New York with 51,967
This interactive chart shows all states and their single-family investment home market, as well as where the investors are from that buy them:
(Source: ATTOM Data Solutions)
