Key takeaways:
Important statistics you should know
- Maine ranks number one, with the highest proportion of properties on the market listed as fixer-uppers, scoring 72.98/100.
- West Virginia and New Jersey rank second and third, with scores of 72.42/100 and 70.36/100, respectively.
- Wyoming has the lowest proportion of fixer-uppers on the market, scoring just 11.20/100.
Cinch Home Services study findings
New research has revealed the best states for flipping homes, with Maine taking the top spot.
At Cinch Home Services, we analyzed all Zillow listings in each state, searching for nine keywords, including ‘fixer-upper,’ ‘needs some TLC,’ and ‘project home’ to identify the percentage of listings containing each keyword. They used these percentages to calculate an index score out of 100 for each state, in order to reveal the best states for flipping homes.
The states with the most fixer-upper homes on the market:
|
Rank |
State |
Score (/100) |
|
1 |
Maine |
72.98 |
|
2 |
West Virginia |
72.42 |
|
3 |
New Jersey |
70.36 |
|
4 |
New York |
67.43 |
|
5 |
Connecticut |
66.82 |
|
6 |
Maryland |
65.98 |
|
7 |
Kentucky |
65.26 |
|
8 |
Pennsylvania |
63.78 |
|
9 |
Michigan |
63.48 |
|
10 |
New Hampshire |
61.55 |
Maine takes the top spot, with an overall score of 72.98/100. There are 7,618 Zillow listings in the state, with 0.74% containing the keyword ‘fixer-upper,’ 0.46% containing ‘needs work,’ and 0.29% containing ‘project home.’
West Virginia follows, with a score of 72.42/100. Out of 8,107 listings in the state, 1.31% of Zillow listings contain the keyword ‘fixer-upper,’ while 0.42% contain ‘needs work,’ and 0.31% include ‘needs some TLC.’
New Jersey is third, with a score of 70.36/100. In New Jersey, 1.31% of Zillow listings are tagged as ‘fixer-upper,’ 0.43% as ‘project home,’ and 0.35% as ‘needs work.’ The state has 26,772 listings in total.
New York comes in fourth place, with a score of 67.43/100. In this state, 1.28% of the 71,264 listings contain ‘fixer-upper,’ while 0.50% contain ‘needs work,’ and 0.28% contain ‘needs some TLC.
Connecticut ranks fifth, with a score of 66.82/100. The analysis revealed 1.30% of listings tagged as ‘fixer-upper,’ 0.50% marked as ‘needs work,’ and 0.50% listed as ‘project home.’ Connecticut has 8,846 listings in total.
Maryland is next, with a score of 65.98/100. Out of 20,735 listings here, 1.41% are marked as ‘fixer-upper,’ 0.57% as ‘project home,’ and 0.37% as ‘needs work.
Kentucky ranks seventh with a score of 65.26/100. In Kentucky, 0.93% of all 23,021 homes are listed as ‘fixer-upper,’ 0.76% as ‘project home,’ and 0.23% as ‘needs work.
Pennsylvania is in eighth place, with a score of 63.78/100. The keyword ‘fixer-upper’ is included in 1.71% of Zillow listings, while ‘project home’ is in 0.43% and ‘needs work’ is in 0.34%. The state has 44,973 listings in total.
Michigan takes ninth place, scoring 63.48/100. Out of 42,663 Zillow listings in this state, 0.99% are marked as ‘fixer-upper,’ 0.72% as ‘project home,’ and 0.32% as ‘needs work.
New Hampshire rounds off the top ten, with a score of 61.55/100. Out of 4,479 listings in total, 0.80% are tagged as ‘fixer-upper,’ 0.38% as ‘project home,’ and 0.25% as ‘needs work.
On the other hand, the state with the lowest proportion of fixer-upper homes is Wyoming, with a score of just 11.20/100. Out of 4,326 listings, 0.65% contain ‘fixer-upper,’ while 0.07% contain ‘needs some TLC’ and 0.07% contain ‘project home.
The benefit of flipping homes
A spokesperson from Cinch Home Services has commented: “Flipping houses can be a profitable venture, especially in states like these where fixer-uppers are relatively common. House flippers often find value and potential in properties that others might overlook.
“If you're looking to buy one, it is important to take a cautious and well-informed approach. Always get a professional survey and inspection before making an offer. An inspection will help identify any hidden issues like structural damage, mold, or outdated electrical systems that could end up costing you a lot more than you expected.
“Flipping houses can be rewarding, but always ensure you take proper precautions to help ensure success.”