Nearly every city in the US is a good place to invest in real estate. However, the most important thing is to choose the one that would be the most beneficial and suit all your requirements. So, here’s a list of some of the best real estate markets in the US that are worth investing in.
Phoenix, Arizona
Home value increase since 2021: Around 26 %
If you thought that it’s not smart to invest in real estate in Phoenix because of its constantly unstable prices, you should reconsider that thought. Currently, the Phoenix real estate market is growing and is a great choice for investment. Whether you are looking for a vacation rental property or a traditional rental property, Phoenix remains the relatively best affordable place to invest. If you compare the real estate market of Phoenix to Los Angeles, San Francisco or New York City, I’d say it’s cheaper because Phoenix has many plots of land on the outskirts that can be developed for new home sub-divisions.
The Phoenix metro area is now home to nearly five million people. A strong economy, good climate, nightlife and restaurants made Phoenix look appealing to renters and vacationers. The significant rise in the demand for investment properties has also been associated with the fact that many people are moving into Phoenix in search of job opportunities. The Phoenix housing market is also becoming popular because it is an affordable alternative for retiring baby boomers. To top things off, the two urban neighborhoods that make up the city of Phoenix are two extremely convenient locations that are very popular among tourists and investors.
If you are a long-term investor, I’d say you will earn really well in Phoenix. In fact, in 2017, Realtor.com predicted the Valley of the Sun to be the number one real estate investing market. And, according to a Forbes article, single-family homes in the area would be an optimal investment.
Austin, Texas
Home value increase since 2021: Around 5 %
The real estate market in Austin is crazy right now. During the past 5-7 years, Austin has exhibited an exemplary growth and a huge majority of its real estate market’s strength is due to its thriving economy and healthy job industry. Another reason why Austin went from an almost worst to one of the best real estate markets in the nation is because of its amazing appreciation. Some of the properties in the area have increased from $55K in 200o to $750K today and properties from the 1990s have gone up from $350K to $12MM today. Can you believe that?
Moreover, for the first time in history, all those who had a crush on San Francisco, New York or Los Angeles are fleeing these big cosmopolitan cities and moving to Austin to escape the high taxes. Some of them are selling their houses in big cities for $800K and buying houses in Austin for only $300K.
A report forecast by Emerging Trends in Real Estate predicted Austin to be second on the list of cities to watch in the US with the most positive real estate market outlook. Indeed, it is safe to say that Austin is a good place to invest in real estate today.
Tampa, Florida
Home value increase since 2021: Around 2 %
The real estate market in Tampa has often been overlooked because it is believed or rumored that Florida is the number one place in America for land fraud. I agree that some folks in the past have bought land only to find out later that it is swamp land. However, over the years, many things have changed and Tampa has a reputation for being a very good area. And, the land in the region seems to be very solid – not swamp land, of course.
Thanks to the recent developments carried out by the authorities that increased the prospects of tourism, downtown Tampa is flourishing with hundreds of options for real estate investment. So, if you are really interested in investing in the real estate market of Tampa, I suggest you start by doing your homework and finding out if you need flood insurance before making any purchase.
