Top 5 Cities to Invest in Real Estate
Jun 16, 2017
As a real estate investor, your primary goal should be to get an exceptional return on your investment without extraordinary risk. One way to maximize your return is to purchase real estate that is located in cities with progressive housing markets.
If you are in the market for investment property, there are plenty of cities with real estate that has achieved extraordinary growth since The Great Recession. Here are the top 5 cities to invest in real estate.
Houston offers a wealth of employment opportunities for its residents in various industries. As a result, the population has grown by a whopping 15 percent since 2000.
The economy in Houston is stable, and it attracts thousands of families each year. This housing market has a reputation for being friendly to investors. The demand for rental housing in Houston remains strong.
Other interesting facts about Houston include:
- Pending home sales increased 30 percent in 2016.
- Home prices increased by 9.5 percent in 2016.
- The three-year appreciation rate for Houston real estate is approximately 27 percent.
Jacksonville has experienced remarkable growth within the past decade. With a population growth rate of two percent each year, there are currently 1.3 million residents living in the Jacksonville metropolitan area.
Other factors that make Jacksonville a top city for real estate investors include:
- Affordable home prices (Median home price is approximately $153,000)
- The future job growth prediction is 39.21% within the next decade
- Homes rent for more than 20.31% of the national average
Thanks to Walt Disney World and Florida's beautiful weather, Orlando is a popular destination for travel and relocation in the United States. In fact, the city of Orlando expanded its population by 60,000 people in 2016.
With a yearly growth rate of 2.6 percent each year, thousands of new residents will need new housing. This makes it a lucrative investment market for savvy investors.
It is possible for you to purchase a home in a good Orlando neighborhood for as little as $120,000. Orlando properties are often rented for one percent of the purchase price.
Other factors that make Orlando an attractive city for its residents include:
- A growing economy
- Low unemployment rates
- A 4.4 percent annual job growth rate
Tampa has a strong economy and an expanding housing market. With a local economy valued at $130 billion dollars, the residents of this scenic city are enjoying the benefits of living in a thriving location.
This city is home to various Fortune 500 companies and 19 companies that are valued in excess of $1 billion dollars. The sectors of Tampa's diverse economy include healthcare, research, education, tourism and education.
In 2016, the bustling real estate market in Seattle enjoyed a 12 percent growth in value. Job growth is another factor that makes this market so exciting. It is challenging for builders to keep up with the housing demand because of the population growth.
These top cities offer the possibility of strong financial returns for real estate investors. It is worth your time to visit these top cities to view investment properties.