- Vermont is the best state for house flippers, with 6,230 recently sold houses per 100,000 residents – one of the highest rates in the country.
- Maine stands out as the second most profitable state for fix-and-flip investors, featuring the most affordable remodeling cost, at $27,486.
- New Hampshire holds the third spot for house flipping opportunities, offering one of the highest house sale prices, at $462,492.
A new study by Badeloft USA analyzes the best U.S. states for house flippers, ranking them based on key factors such as house sale prices, remodeling costs, house sales volumes and time on the market. Data was gathered from real estate market reports, housing transaction databases, and industry sources to assess profitability of flipping in each state. The study measures the financial viability of house flipping by normalizing the metrics and calculating an overall House Flipping Score for each state. States are ranked based on this score, with higher values indicating more favorable conditions for house flippers.
Findings summed up
| State | Average remodeling price | Recently sold houses per 100K people | Average house sale price | Average days on the market before sale | Score |
| Vermont | $33.1K | 6,230 | $387.9K | 32 | 99 |
| Maine | $27.4K | 5,401 | $385.8K | 33 | 95 |
| New Hampshire | $33.1K | 4,966 | $462.4K | 33 | 93 |
| Delaware | $38K | 5,566 | $375.05K | 35 | 86 |
| Rhode Island | $37.1K | 3,849 | $447.9K | 28 | 85 |
| Hawaii | $44.8K | 3,180 | $829.9K | 47 | 83 |
| Connecticut | $45.6K | 4,204 | $394.1K | 27 | 79 |
| Virginia | $39.2K | 4,706 | $382.9K | 37 | 76 |
| North Carolina | $48.8K | 6,649 | $325K | 45 | 74 |
| Massachusetts | $53.4K | 3,193 | $605.6K | 36 | 71 |
*See the full study here.
Vermont takes the top spot in the ranking of the best states for house flippers, with a score of 99. The state stands out with 6,230 recently sold houses per 100,000 people – one of the highest rates among all the states in the United States. Besides, houses in Vermont stay on the market for only 32 days before being sold.
Maine is the second most profitable state for fix-and-flip investors with a score of 95. It has the most affordable remodeling cost among the top-ranking states, at $27,486. In addition, houses remain on the market for less than 33 days in Maine.
New Hampshire holds the third spot for house flipping opportunities with a score of 93. Similar to Vermont, renovating a house in New Hampshire will cost around $33,121 – one of the most cost-effective among the states on the list. The state also stands out with one of the highest house sale prices among top-ranking states, valued at $462,492.
Delaware takes the fourth spot with a house flipping score of 86. The typical remodeling budget for homes is $38,000 in the state. Besides, Delaware sees 5,565 houses sold per 100,000 residents.
Rhode Island is the fifth-best state offering opportunities for house flippers, recording a score of 85. The state features the second-fastest market time in the United States, with homes selling in fewer than 28 days. Rhode Island offers the third-lowest remodeling cost compared to the other states, with an average of $37,157.
Hawaii takes the sixth spot for home flipping potential, scoring 83. The state offers the highest house sale price in the entire United States, with the properties valued at $829,941, which contributes to its position on the list.
Connecticut is the seventh-best option for flip investors, earning a score of 79. A house sits on the market in the state for just 27 days – the shortest time across the country. Additionally, house flippers can expect to sell properties for an average of $394,187 in Connecticut.
Virginia is ranked eighth for house flipping potential, achieving a score of 76. Home improvement projects here generally require an investment of $39,215, with investors able to sell properties for an average of $382,930.
North Carolina is positioned ninth on the list of best states for house flipping, achieving a score of 74. The state features the most active housing market among the top-ranking states, with 6,649 houses sold per 100,000 residents.
Massachusetts rounds out the list of the best states for fix-and-flip investors, recording a score of 71. It is the second most expensive state to buy a house, following Hawaii, with an average price of $605,614. Similar to Virginia, houses in Massachusetts spend around 36 days on the market before selling.
A spokesperson from Badeloft USA commented on the study:
“House flipping proves to be a profitable endeavor in many states, particularly those where the cost of remodeling is relatively low, and the potential for high sale prices is strong. It’s important to consider that prioritizing premium quality renovations is essential to maximizing the property’s value and securing a profitable return. Carefully selected and stylish furnishings that complement these renovations can further enhance the home’s appeal, making it even more marketable and increasing its overall value”.