The Easiest—and Hardest—States for Renters to Buy a Home

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Why It’s So Hard in Some States to Go From Renting to Owning

For many renters, the path to homeownership feels out of reach, with high prices and steep down payment requirements standing in the way. It could make it feel like you’ll be stuck in the rental game forever.

But location plays a bigger role than you might think—with the gap between local incomes and current housing prices making the leap especially hard in some states. To assess where it’s most and least difficult to transition from renting to owning, Gold IRA Custodians calculated a “Homeownership Opportunity Score” for each state. The data, which the firm shared with Investopedia, offers a side-by-side look at where the odds are stacked for—or against—first-time buyers.

“It’s common for people to think homeownership is universally impossible these days, but that’s not the whole story,” Tim Schmidt, founder of Gold IRA Custodians, told Investopedia. “The math changes completely depending on where you live.”

Where Renters Have a Real Shot—And Where It’s an Uphill Battle

To calculate each state’s Homeownership Opportunity Score, the firm’s researchers weighed four factors: how renters’ median incomes compare to the income typically needed for a mortgage (35% of the score), the ratio of home prices to annual rent (30%), how many years it would take to save a 20% down payment (25%), and the number of state down payment assistance programs (10%). Together, these measures show where buying a home is more—or less—attainable.

Scores ranged from 40.86—indicating the most difficult markets—to 90.29, indicating the most attainable. West Virginia claimed the top spot for homeownership opportunity, helped by a median home price of about $167,000. At that price, the typical renter there would need just 5.8 years to save a 20% down payment.

Mississippi came in as the second-most attainable. Lower-than-national-average property values play a role here as well, but the state also offers six different down payment assistance programs that can help renters cross the finish line toward ownership.

Third-place Maryland presents a different picture. Homes cost far more here—the median price is about $434,000—yet higher local wages mean the gap between what homes cost and what residents earn is actually narrower than in West Virginia.

At the opposite extreme, Montana ranks last with a 40.86 score. The fast-rising housing market has driven the median price to nearly $462,000, meaning the typical renter earning the state’s median income would need more than 12 years to save a 20% down payment.

Hawaii is almost as challenging, with a score of 45.30. Even though renters there earn well above the national average, the “paradise premium” has propelled home prices far beyond what most can afford.

Idaho completes the bottom three, posting a score of 45.50. Once far more attainable, its housing market has surged in recent years, lifting the median price past $475,000, which requires the average renter to need roughly 11.2 years to save for a down payment.

Tips for Deciding if—and When—to Buy a Home

To gauge how challenging such factors might be for you to move from renting to owning, check the score of your state or the one you might relocate to. Then you can compare your household income to that state’s median. If you earn more than the median, your path to homeownership may be easier.

“The key is starting with realistic expectations based on your local market,” Schmidt said. “Don’t just focus on the sticker price—look at your debt-to-income ratio, credit score, and how long you can realistically save.”

Schmidt also recommends exploring homeownership assistance programs, which he says are “incredibly underutilized.” If you qualify, these could provide thousands of dollars toward a down payment or more favorable loan terms.

Finally, remember that buying isn’t always the best move. In pricier markets, renting can make more financial sense. But in states like West Virginia or Mississippi, purchasing a home may be the smarter long-term choice once you can afford it.

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The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.