ValuePenguin released a report identifying optimal factors when considering homeownership, and ranking the states from best to worst according to these factors. Overall, Connecticut was ranked number 30. However, when broken down further, Connecticut ranked 48th in affordability, followed only by California (49) and Florida (50).
Ten factors, organized into three key categories were used to measure and rank the states. The three key categories of focus were: Housing Market Strength, Residual Costs, and Living Factors. Factors that weakened a state’s position included propensity for crime, weak housing markets, and heavy burdens of costs to maintain a home – for instance the likelihood of property damage caused by storms and other calamities. Attributes that strengthened a state’s position included homeownership affordability, low mortgage rates, and low risk of calamities.
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