5 Best Places in America To Build Wealth, According to Anthony O'Neal
Where you live can have a big impact on how quickly you build wealth. Housing costs, taxes and everyday expenses can all determine how much income is left to save and invest, which is why personal finance expert Anthony O’Neal said some states give you more of an advantage if your goal is to become wealthier.
In a YouTube video, O’Neal shared the following five states where you can find relatively affordable housing and favorable taxes so you can have more financial breathing room.
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1. Nebraska
O’Neal put Nebraska in fifth place. The state made it onto the list mainly due to its 5.5% state sales tax and low housing costs. Though Nebraska’s median household income is around $76,475 (according to the U.S. Census Bureau, the state’s affordability can help you save more of your salary.
That said, Nebraska isn't especially low-tax overall. According to the Tax Foundation, its top individual income-tax rate is 4.55% in 2026 and the effective property-tax rate on owner-occupied homes is about 1.44%.
2. South Dakota
O’Neal's fourth choice is South Dakota since the state has no individual income tax. “That means you keep more of what you earn,” he said.
Per the Tax Foundation, South Dakota also has a low 4.2% state sales tax and an estimated 1% effective property-tax rate on owner-occupied housing. The state also charges zero estate tax or inheritance tax.
Median household income is slightly lower here compared to Nebraska, at $75,081, per Census data.
3. Iowa
Iowa lands third on O’Neal's list because of its low debt-to-income ratio. “Iowa had one of the lowest household debt-to-income ratios in the entire country. So this means in Iowa, a lot of people are not going into debt just to live. They're living within their means and building wealth,” O’Neal explained.
According to the Tax Foundation, Iowa also has a flat 3.8% individual income tax and a reasonable 6% state sales tax in 2026.
4. Wyoming
Wyoming has two wealth-building advantages: no individual income tax and low property taxes.
“This state is a wealth builder's dream,” O’Neal said. “The cost of living is low. The median income there is $73,000 and they have some of the lowest property tax rates in the country. But the best part about Wyoming is that it had the lowest percentage of renters burdened by housing costs.”
According to the Tax Foundation, Wyoming's effective property-tax rate is just 0.53% and has a state sales tax of only 4%.
5. North Dakota
O’Neal's top pick is North Dakota. Though North Dakota does levy income tax, its 2026 top marginal rate is only 2.5% (per the Tax Foundation) and its effective property-tax rate is 0.92%. The state also doesn’t have an estate tax or inheritance tax.
When taxes and housing expenses take up a smaller share of your income, you have more money available for retirement contributions, investments, emergency savings or paying off debt.
The Bottom Line
These states are great for building wealth, but that doesn’t mean they’re automatically the best places for you to relocate to. Before taking the leap, research the area to make sure the lifestyle there would fit your needs. Even though a state may look affordable on paper, the best place to build wealth is one where you can save and invest consistently while still maintaining the quality of life that matters to you.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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