--- title: Top 5 States With Thriving Opportunity Zone Funds description: Opportunity Zones exist in almost all 50 states. Each offers tax benefits, unique neighborhoods, demographics, existing housing stock, and potential. image: https://www.ozfundhub.com/hubfs/opportunity%20zone%20funds%20in%20the%20united%20states.png --- 2 min read # Top 5 States With Thriving Opportunity Zone Funds [![Picture of Michael Hubert](https://app.hubspot.com/settings/avatar/287ee4c4d9427ba63e85e782cc9170c0) Michael Hubert ](https://www.ozfundhub.com/blog/author/michael-hubert) : Jan 20, 2022 9:00:00 AM [Residential Real Estate](https://www.ozfundhub.com/blog/tag/residential-real-estate) [Commercial Real Estate](https://www.ozfundhub.com/blog/tag/commercial-real-estate) [Developers](https://www.ozfundhub.com/blog/tag/developers) [Education](https://www.ozfundhub.com/blog/tag/education) ![Top 5 States With Thriving Opportunity Zone Funds](https://www.ozfundhub.com/hubfs/opportunity%20zone%20funds%20in%20the%20united%20states.png) Designed to generate significant tax benefits and tax-free returns for investors who invest their capital gains within their 180-day window, Opportunity Zone opportunities include anything from commercial real estate, affordable housing, oil and gas, impact investing, and startups to green energy. QOZs were created by the federal 2017 Tax Cuts and Jobs Act and designed to enhance economic development by marrying private equity investment to areas that may benefit from attracting economic development.  Opportunity Zones may also focus on community revitalization programs, economic development via hospitality development, mixed-use development, multi-family residential, student housing, workforce housing, and more! As of 2021, Qualified Opportunity Zones (QOZ) exist in almost all 50 states, and more than 8,700 opportunity zones have been designated across the nation. Every state and investment type has its benefits, so where to start? Let’s take a closer look at the top 5 Opportunity Zone Fund states in the United States: 1. California Silicon Valley The epicenter of the tech industry, Silicon Valley continues to grow at an exponential rate and with that growth comes the need for more multifamily housing and mixed-use developments. Downtown San Jose in particular will play an integral role in the revitalization and activation of the South Bay Area community. Los Angeles  In LA, more than 25 percent of multifamily units and almost 50 percent of commercial space is already located in qualified Opportunity Zones. One of the fastest growing areas in SoCal, Downtown LA offers an art district with plenty of redevelopment and commercial properties, including affordable housing. According to the [Economic & Workforce Development Department](https://ewddlacity.com/index.php/opportunity-zones-in-la), Los Angeles is an ideal place for OZs to invest in development with access to global markets, world-class infrastructure, a diversified economy and a skilled labor pool. 2. Washington In Washington state, there’s an incentive to invest in lower income areas. The [Washington State Department of Commerce](https://www.commerce.wa.gov/growing-the-economy/opportunity-zones/) consulted with a diverse group of stakeholders, and as a result, set the following goals for QOZ area designations: - Make it a transparent process for all parties  - Create a process that helps strengthen communities - Create ability for tribes to directly access some portion of available census tracts - Create ability for each county, in conjunction with the applicable associate development organization (ADO) to access some portion of the available census tracts - Create a competitive portion of tracts that were awarded to areas that would most likely result in new investment and job creation 3. Florida Florida has at least 68 qualified opportunity zones. And with Miami and the entirety of South Florida ranking as some of the most appealing locations for real estate investing in residential housing, Miami-Dade County is a particularly promising market for multi-family investors with sights toward long-term appreciation. Many foreign investors are already taking advantage of the OZ program in Florida. If investors combine their QOZ with the EB-5 program, they are eligible to receive permanent U.S. residency (if they invest at least $500k in a job creating project in an eligible low-income area).  4. New York According to the [Citizen’s Budget Commission](https://cbcny.org/research/opportunity-zones-new-york-state-and-city), NY state lawmakers took steps to ensure that the OZ program is well targeted and that the public can evaluate its implementation and impact. NY opportunity zones must focus on more higher poverty rate areas, greater than or equal to 20 percent. In New York, Governor Andrew Cuomo gave the state’s economic development entity with designating those OZs. They selected 514 tracts, and 496 of them are qualified low-income tracts and seventeen are non-low-income contiguous tracts. 5. Texas Recent reports show Texas is the fastest growing state in the US with Austin being the fastest growing large city in the US. Smart investors in this area may want to invest in residential housing with an emphasis on economic growth coupled with low-income programs like Texas’s own historic Low Income Housing Tax Credit (LIHTC)—designed for affordable housing properties. Each state offers OZs with unique neighborhoods, demographics, existing housing stock, and potential. So, with more than 8,700 Opportunity Zones designated across the US, which one is best for your investment? To learn more about OZs in the US, please [contact us today.](https://www.ozfundhub.com/contact-us)    *Important Notice: OZ FundHub is not a licensed tax, accounting, or financial firm. All Information contained is for educational purposes only.* - [Tweet](https://twitter.com/share) [![3 Red Flags When Weighing Opportunity Zone Investments](https://www.ozfundhub.com/hubfs/Untitled%20design.png) ](https://www.ozfundhub.com/blog/3-red-flags-when-weighing-opportunity-zone-investments-oz-fundhub) #### [3 Red Flags When Weighing Opportunity Zone Investments](https://www.ozfundhub.com/blog/3-red-flags-when-weighing-opportunity-zone-investments-oz-fundhub) ![Picture of Michael Hubert](https://app.hubspot.com/settings/avatar/287ee4c4d9427ba63e85e782cc9170c0) [Michael Hubert](https://www.ozfundhub.com/blog/author/michael-hubert) : Feb 3, 2022 9:51:27 AM Opportunity Zones (OZs) are designated areas (census tracts) around the country that provide preferential tax treatment for investors in order to... [Real Estate](https://www.ozfundhub.com/blog/tag/real-estate) [Residential Real Estate](https://www.ozfundhub.com/blog/tag/residential-real-estate) [Commercial Real Estate](https://www.ozfundhub.com/blog/tag/commercial-real-estate) [Education](https://www.ozfundhub.com/blog/tag/education) [Read More](https://www.ozfundhub.com/blog/3-red-flags-when-weighing-opportunity-zone-investments-oz-fundhub) [![Dear LA Times: Welcome to Opportunity Zones](https://www.ozfundhub.com/hubfs/newspaper%20LA%20TImes%20blog%20%20.jpg) ](https://www.ozfundhub.com/blog/dear-la-times-welcome-to-opportunity-zones-oz-fundhub) #### [Dear LA Times: Welcome to Opportunity Zones](https://www.ozfundhub.com/blog/dear-la-times-welcome-to-opportunity-zones-oz-fundhub) ![Picture of Jake DeVine](https://www.ozfundhub.com/hs-fs/hubfs/Headshots/Jake%20DeVine%20SQ%20Headshot.png?width=30&name=Jake%20DeVine%20SQ%20Headshot.png) [Jake DeVine](https://www.ozfundhub.com/blog/author/jake-devine) : May 24, 2022 10:00:00 AM Does half the story count as the truth? [Education](https://www.ozfundhub.com/blog/tag/education) [Social Impact](https://www.ozfundhub.com/blog/tag/social-impact) [Read More](https://www.ozfundhub.com/blog/dear-la-times-welcome-to-opportunity-zones-oz-fundhub) [![How to Invest in Opportunity Zones](https://www.ozfundhub.com/hubfs/growing%20money.jpg) ](https://www.ozfundhub.com/blog/how-to-invest-in-opportunity-zones-ozfundhub) #### [How to Invest in Opportunity Zones](https://www.ozfundhub.com/blog/how-to-invest-in-opportunity-zones-ozfundhub) ![Picture of Michael Hubert](https://app.hubspot.com/settings/avatar/287ee4c4d9427ba63e85e782cc9170c0) [Michael Hubert](https://www.ozfundhub.com/blog/author/michael-hubert) : Mar 13, 2022 3:05:00 PM Have you recently sold property, stock, or crypto currency for a profit? If so, you may be looking for ways to eliminate or reduce your capital gain... [Education](https://www.ozfundhub.com/blog/tag/education) [Read More](https://www.ozfundhub.com/blog/how-to-invest-in-opportunity-zones-ozfundhub)