GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
If Kamala Harris wins the election, it might bring about a few changes to the housing market.
But historically speaking, the U.S. president doesnt tend to have major influence in this area.
There could, however, be a more nuanced effect.
If youre thinking about buying property, you may want to consider other factors like housing prices.
In addition to that, there are other benefits to purchasing a home in Texas.
For one, theres no state income tax.
The state also has favorable tax policies for businesses, according to Daniel Rivera, president ofProactive Property Management.
This could mean more job opportunities for those moving into the state, or who are already there.
It could also mean rising property values in the long term.
Florida
Historically speaking, Florida has also leaned heavily Republican.
One area that would more directly impact people looking to buy property is taxation.
The state has no personal income tax.
The general sales tax rate is 6%, lower than other states.
And then theres the states housing market and the various tax breaks available to homeowners.
Floridasreal estate markethas shown consistent growth, with increasing property values in coastal and metropolitan areas, said Rivera.
As for property values, theaverage home valueis $398,077.
This is a 2.5% increase from the past year.
Depending on where in the state you buy property, Florida could also be a good investment opportunity.
Oregon
Oregon leans left politically, which could be beneficial if Harris wins the election.
These factors could also lead to rising home values over time.
Keep in mind that thecurrent average home valuein Oregon is $503,525 above the national average.
This is a 1.5% increase over the past year.
It has since voted Democrat including a 13.5% margin toward Joe Biden in 2020.
For potential homeowners, property taxes and housing prices are also important considerations.
The state has some of thelowest property taxesin the country the effective rate is around 0.48%.
Home prices are on the high side, however.
The average home value in Colorado is $551,281, a 1.8% increase over the past year.
Bottom Line
Ultimately, where you buy property is a highly personal decision.
When deciding where to purchase a home or investment property be sure to consider other factors, too.
More From GOBankingRates
Share This Article:
