House flipping isn’t for everyone, but it can be a lucrative way to earn extra cash if you have the capital and the time to do it right. Choosing where you buy a flip property is a key part of the equation, as some states provide a better return on investment than others.
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To find the best states for home flippers, Badeloft USA analyzed states based on key factors including average house prices, remodeling costs, home sales volume and time on the market. Based on this analysis, these are the 10 best states for house flippers.
Vermont
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Average house sale price: $387,900
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Average remodeling cost: $33,100
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Recently sold houses per 100,000 people: 6,230
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Average days on the market: 32
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Maine
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Average house sale price: $385,800
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Average remodeling cost: $27,400
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Recently sold houses per 100,000 people: 5,401
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Average days on the market: 33
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New Hampshire
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Average house sale price: $462,400
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Average remodeling cost: $33,100
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Recently sold houses per 100,000 people: 4,966
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Average days on the market: 33
Delaware
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Average house sale price: $385,050
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Average remodeling cost: $38,000
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Recently sold houses per 100,000 people: 5,566
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Average days on the market: 35
Rhode Island
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Average house sale price: $447,900
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Average remodeling cost: $37,100
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Recently sold houses per 100,000 people: 3,849
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Average days on the market: 28
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Hawaii
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Average house sale price: $829,900
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Average remodeling cost: $44,800
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Recently sold houses per 100,000 people: 3,180
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Average days on the market: 47
Connecticut
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Average house sale price: $394,100
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Average remodeling cost: $45,600
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Recently sold houses per 100,000 people: 4,204
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Average days on the market: 27
Virginia
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Average house sale price: $382,900
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Average remodeling cost: $39,200
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Recently sold houses per 100,000 people: 4,706
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Average days on the market: 37
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North Carolina
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Average house sale price: $325,000
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Average remodeling cost: $48,800
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Recently sold houses per 100,000 people: 6,649
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Average days on the market: 45
Massachusetts
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Average house sale price: $605,600
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Average remodeling cost: $53,400
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Recently sold houses per 100,000 people: 3,193
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Average days on the market: 36