Top Cities For Investing in Real Estate
As in previous years, the housing market in the southern United States remains strong. This year, four out of the five top places to buy real estate are located down south, but not all.
Seattle made the cut, no doubt because of its high jobs rate and demand for technology talent, thanks to local corporate giants Microsoft and Amazon. Seattle properties stay on the market an average of just five days despite the city’s 12 percent rise in home prices in the past year.
Holding steady at the top of the list is Dallas, Texas, and its sprawling suburbs, as the best place to live and buy. Its oil industry attracts thousands each year, but its growing technology and manufacturing sectors are also drawing residents from states such as California and New York. With no income tax and a relatively low cost of living, the Lone Star State is a centrally located haven, allowing residents and visitors to get anywhere in the country in less than three hours via DFW Airport.
The Sunshine State rounds out the top five with three cities on the list. Jacksonville, West Palm Beach and Orlando have all seen an almost 8 percent population growth since January 2016, thanks to affordable home prices. With 150-plus days a year of clear blue skies, Florida is a no-brainer for those favoring a moderate climate and proximity to Gulf and Atlantic beaches.
Rounding Out the Top 10
The remaining cities in the top 10 are scattered across the country. They include Salt Lake City, Tampa, Nashville, Fort Worth and Grand Rapids. Job growth, access to the outdoors and entertainment and culture are the main reasons people seems to be making moves to these mid-size cities.
Those interested in both sun and snow may want to call Salt Lake City home. It’s within driving proximity to amazing mountain ranges and national parks. Home prices in Salt Lake City average $268,000, offering many affordable options. Job and population growth are moderate, and, of course, you have all that gorgeous scenery to enjoy.
Nashville is as hot as its chicken, with 9 percent growth in homes in 2016, making it one of the fastest-growing cities in the nation. With a cityscape of cranes, the Music City has reinvented itself to attract all types of talent, including Michelin star chefs. Though it still has its fair share of Tennessee barbecue, Nashville’s a foodie’s paradise now.
Similar to its Dallas neighbor, Fort Worth benefits from proximity to DFW Airport and a healthy local economy. Home prices jumped 9 percent last year and the population is seeing steady growth. Cowtown’s walkable downtown area and nearby Stockyards are ideal for work and play, even drawing many Dallasites out for a night on the town.
If it’s Midwestern values seek, head to Grand Rapids, Michigan, where the average home price is an astonishingly low $166,000. However, the tradeoff is four seasons with a major emphasis on winter. Michigan as a whole is still in recovery mode, but with its close proximity to Canada, its trade industries are chugging along.
Regardless of which city you’d like to look into, ForSaleByOwner can help you find the next home of your dreams, and help you do it all on your own!