Often when you tell people you’re a real estate investor the common response is, “Where should I be investing right now.” Of course that answer comes with a number of questions and caveats, but there are some general geographic areas that are agreed upon as good for investors. Texas and Florida have a number of cities with terrific opportunity. Here’s eight cities that should be on your radar.
Oklahoma City Metro – The Oklahoma City real estate market is bolstered by steady population growth of 1% to 2% a year, both within Oklahoma City itself and the surrounding suburbs. This keeps housing prices and rental rates going with the rate of inflation if not better. However, it doesn’t create the boom or bust cycles that risks landlords losing all their equity when a hot market cools.
Jacksonville, FL – Jacksonville is shining bright with its future. The availability of jobs is set to increase by 42% in the next ten years! A wise investor would take this opportunity in the Jacksonville real estate market and buy investment property now to take advantage of that growth and rising demand for housing.
Fort Worth, TX – You’ll find duplexes starting in the 150k and up range, renting for around $800. Though these are getting harder to find. Look in surrounding areas like Tarant County
Dallas, TX – Predictions from housing analysts point to continued home-price growth throughout 2019. In fact, the Dallas real estate market is expected to outperform the nation this year, in terms of annual home-value appreciation. Given the current rate of appreciation, it would not be surprising to see the median house price in Dallas rise somewhere between 7% and 10% over the next year.
Orlando, FL – In terms of both employment and population growth, Orlando really outshines. From summer 2017 to 2018, employment increased 4.3%, which is almost three times the U.S. average growth rate. Its population surged by 14% from 2013 to 2018.
San Antonio, TX – San Antonio has seen an increase in pricing over the last decade – a trend that is predicted to hold steady. The average home price now is around $260,000 for a single-family house. That’s about a $100,000 increase over the last 10 years. Despite the rise in prices, San Antonio homes remain affordable when compared to other markets, according to Lopez.
Boston, MA – Multi-family buildings are a great investment if you can afford it. Prices are high but so is the appreciation. The millennial demographic is on the rise with more and more people looking to buy. The tech industry is also starting to find a home here.
Chattanooga, TN – If you like affordability and growth this is a great city to keep on your radar. The medium home price here is under $300,000. There is plenty of profitability to be found in flipping the older real estate.