Investing in real estate takes a lot of research, planning, and financial savvy. The U.S. housing market has become more competitive in recent years, so knowing which cities are worth the money is essential. Here are the best cities to own property across the country that’ll get anyone a good return on investment.
Many people are moving away from highly populated and costly cities to settle in Phoenix, Arizona. There has been a shortage of homes in recent years but an increasing number of real estate sales.
Lafayette, Indiana, is one of the top choices for real estate investing in 2022. Their home values are mostly under $200,000, with a home value appreciation of 53 percent.
The city has meager property tax rates and high rent to home value ratios, rental vacancy rates, and rent to income ratios.
Those looking towards the east coast should consider investing in real estate in Portland, Maine. According to Realtor.com, the city has a predicted home price growth rate of 10 percent.
Portland is known for its beautiful waterfront coastline and is a top summer tourist destination. U.S. News even ranked it as one of the top 10 places to live in America.
Durham, North Carolina
Durham, North Carolina, is most famous for being the location of Duke, University, but it also has a great housing market. People have considered investing in real estate in Durham because of their stable economy and increasingly high rental demand. Their median home price is $256,993, with a growing population rate.
Not only does Memphis, Tennessee, have a lively night scene, but they are also a top choice for real estate investment in 2022.
In Memphis, a typical home is valued at about $126,889 with a 71 percent home value appreciation. The city also has a high rent to home value ratio, rental vacancy rate, and rent to income ratio.
Providence, Rhode Island
Providence is the capital of Rhode Island, and it happens to be its most populous city. This makes it a perfect place to buy real estate in 2022. The home prices have been growing at a rate of 9.5 percent, and the Rhode Island Association of Realtors found that many buyers are from out-of-state.
One of the most populous and affordable cities in Alabama in Birmingham. Those who want to invest in renting out their property should consider buying in Birmingham. The city is home to several universities, which give it a sizeable prospective renter pool. Also, the median home price is only about $64,840.
While Youngstown, Ohio, is relatively small, it’s pretty close to other metropolitan areas, including Cleveland and Pittsburgh.
The home prices are some of the lowest in the country, but they have a high appreciation rate. Youngstown is currently part of rebirth, with many new businesses being headquartered there.