Looking for the best place to settle your real estate roots? You’ve come to the right place! A real estate agent’s median salary is $48,770, which is liveable in most areas, but what if you could make more? Sometimes, the secret is to move where the money actually is.
The best state and city for your real estate business can depend on many factors. In general, determining the best states to be a real estate agent is calculated using all or a mix of the following information:
- Housing affordability
- Housing inventory
- Population growth
- Job growth
- Remote work opportunities
- Number of renters able to afford a home
- Average salary for real estate agents
We’ve gathered the top states to be a real estate agent, so you can see whether your state shapes up and what markets are warming up in 2023.
1. Washington
Washington state has a growing housing market with an average of 37 days on the market. The average salary for a real estate agent in Washington is $103,297, but keep in mind that the cost of living is 13% above the national average.
Even so, the potential for growth and the honor of being named the best state to find a job makes it worth it.
2. Florida
Florida isn’t just a place with highly-packed tourist attractions. It’s also home to several great cities with awesome housing markets.
Some of the strongest markets include Tampa, Miami, Orlando, and Jacksonville. The average real estate salary in Florida is a little over $93,000, and with plenty of cities filled with opportunities, real estate agents can succeed in the Sunshine State.
3. South Carolina
Home to popular destinations like Myrtle Beach and Charleston, South Carolina’s home prices are up 10.8% since last year for a median price of $368,800.
According to NAR, Charleston and the Greenville-Anderson-Mauldin areas are ranked as leading markets in the nation with 6.8% and 9.1% in job growth, respectively.
4. Texas
Dallas, Houston, Austin, and many other cities in the Lone Star State are top places to be a real estate agent. The average real estate salary in Texas is $83,886, lower than some other states on this list, but Texas has many opportunities to make a real estate career.
5. Georgia
Atlanta alone has an impressive market, but don’t forget other great cities and counties around the state, such as Savannah, Augusta, Athens, Macon, and many more. Nearly a fourth (21.3%) of the Atlanta-Sandy Springs-Marietta area renters can afford to upgrade to an average home.
6. Nebraska
Too many people look over Nebraska for potential real estate wins. It’s a gorgeous state with steady population growth, so of course, it would be a great place to find a home!
The state has a low cost of living, and the average real estate salary sits at $96,436. With impressive home price growth (10.3% since last year) and a short time on the market at only 22 days on average, why not give it a try?
7. Virginia
From rural farming towns to bustling major cities, no area in Virginia is the same. One of the best markets in Virginia is Virginia Beach, a popular tourist destination and a great spot to settle down as a young professional.
The state is also close to Washington, DC, and there are plenty of opportunities to find a niche where you can stand out as a real estate agent. The average pay for a real estate agent in Virginia is $98,454, and the cost of living in the state is on par with the national average, meaning more take-home pay for you!
8. Tennessee
Nashville, Knoxville, Memphis, and many other major cities in Tennessee make the state an attractive place to settle down.
Average real estate agent salaries in Tennessee are $87,204 a year, and house prices have risen by 6.6% since last year, with a median sales price of $367,900.
A low cost of living makes life in Tennessee even more appealing. Top it off with great live music and delicious food; you can’t go wrong practicing in Tennessee!
9. Delaware
Don’t overlook this little state! Delaware has no state or local sales tax, making it an attractive place to move. Home values and prices have held steady despite market conditions, so Delaware may be the right place for your real estate business.
10. Wyoming
A low cost of living and beautiful outdoor attractions? Sign yourself up! The natural gas industry steadily attracts new residents yearly, and real estate agents bring home around $86,000 annually.
Wyoming is also one of the most affordable states to live in and has a very competitive market, so you can pocket a lot of extra cash from your commissions.
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