With today’s uncertain economy, you must be smart with your investments. Some cities aren’t ideal for real estate investment anymore, and as an investor, you must do your research before making a decision you’ll regret.
This post can help as a springboard to give you some ideas of some cities worth targeting. Let’s begin.
Many people are moving to Colorado due to its gorgeous mountains, clean air, and dry climate. However, rather than look to Denver, you should look to Colorado Springs, located about an hour and a half from Denver. Colorado Springs’s population is under 500K, but it’s growing, with many unique opportunities. It combines a mountain town’s wilderness with a city’s vastness.
Currently, homes are a bit more than average, over $400K, but the houses keep their worth and increase, with a lower rental vacancy rate.
Texas is a growing state, with many moving there due to its low taxes and low cost of living. One example is the Millennial generation buying more homes there, with Austin at the top. In addition, Austin has affordable homes and is an emerging hub in tech and other industries.
Because Austin is in a growing stage, investing in it has many benefits. The median home investment is around $200K, and if you invest now, your home’s value will only grow. One evidence is that the median home price has jumped by 8% since last year.
We see no signs of Austin stopping, meaning you should consider investing in it.
Spring Hill, Florida
Spring Hill is quickly becoming one of the unique Florida cities to invest in, as it’s in that sweet spot where it’s closer to larger cities, such as Tampa, without costing too much to live in. Spring Hill also boasts many unique attractions and is a lovely city to live in, with homes under $250K. We say to look at this city before it’s too late.
If you go up a bit, you find Florida’s neighbor, Georgia. Atlanta is a bustling city that’s home to Coke, CNN, and the home of affordable real estate. The population has boomed significantly in the past decade, nearly 15%. As such, there’s much demand for housing. Any city that’s seeing an increase in population is ripe for investing, which is why you might want to consider Atlanta.
Charlotte, North Carolina
Charlotte is a city you might not have considered, yet many people are moving to it. It’s become a spot for colleges, tech industries and is teeming with youth. One reason for this, besides the growing economy, is that property taxes are relatively low.
Charlotte’s home prices are steadily increasing, with the median over $300K. However, it shows no signs of slowing down, making it one place to consider if you’re looking to get on the market.
Des Moines, Iowa
Iowa is another excellent state for real estate investing, with many coming here due to its opportunities and friendliness for new families.
Another reason Des Moines is so great for investing is that the home value is relatively cheap, a little over $175K. In addition, it’s a slower burn city, with its population growing more than 5% slightly in the past decade. However, it’s a steady climb, and we recommend you invest while you still can. You never know when there will be a boom, leaving skeptical investors in the dust.
Finally, we have Columbus. Ohio is steadily growing due to its affordability and its college culture. The capital, Columbus, has much to do and a steady population of youthful renters. Because of this, it might be an excellent place to invest in, with its median homes going a little under $200K. Also, the homes sell fast, with most sales taking a little over a month after hitting the market. Therefore, it would be ideal if you invest now.
These are some cities with homes worth investing in. But, of course, the market is constantly changing, and having a real estate agent who can help you get the best deal helps. We can help you get the best deals out there. Contact us for more information.