Over ten years ago, the real estate market industry experienced a significant dip which made a lot of investors fearful of it. However, if you have invested in real estate properties at that time, you could be very wealthy right now. Long term thinking is an investing property technique that bodes well in real estate. Along with that, proper research will help find you places that could provide you the profits you want.
If you’re starting to consider the real estate market, here are five of the best cities where you can start investing in:
1. Sacramento, California
If you’re looking for a profitable area in the west coast, then Sacramento might be the city for you. It has all the potential any investor is looking for and if the facts still don’t convince you, the 2028 Olympics will happen at Los Angeles, California which will undoubtedly increase properties within the surrounding area.
Some of you may find it odd to see California in this list, mainly because of the high property prices in the state’s capital. But, that’s not the case with Sacramento. Here are some reasons why:
- The average home price in Sacramento is around 328,000 USD
- Population growth is expected to be under 4% for the years
- Job growth is projected to be at 5% for the next two years.
- Projected home price in the next three years could go up as high as 33%.
2. Provo, Utah
Provo is also home to Brigham Young University which means there will always be renters for your property. The state of Utah is also famous for its tech scene and has been a home for some of the tech giants you know like Microsoft. Provo is a county in the Beehive State which will get some good things happening for them in the next three years. Here are the reasons why:
- Average home price is expected to increase by 31% in the next two to three years.
- The average home price of 267,000 USD is expected to increase by 10% this year.
- Job growth is projected to be at 6.7% and population to grow by 7.1% for the next three years.
3. Orlando, Florida
The Sunshine State and home of the Disney World, Orlando. The state is known for being close to big cities like Miami but offers less premium price which makes it enticing for budget finders. It’s a city that’s full of tourism potential which makes it an excellent place for real estate investors. Here are some more facts to convince you:
- The average home price of 246,000 USD is expected to grow by 9% this year.
- A projected 35% increase in home prices can be expected in the next three years.
- Population growth is at an all-time high in the next two years at 8%.
- The job growth is expected to soar up to 7% in the coming years.
According to Livability, Orlando is one of the Top 100 best places to live in the US. With population increasing and job growth to be one of the best in the country, it only makes sense to start looking into Orlando right now.
4. Arlington, Texas
Known for being the home of the Dallas Cowboys — Arlington is booming in the real estate industry right now. The city is benefitting from the economic and population growth that the Dallas-Fort Worth area is experiencing. Here are more reasons why you should look into it:
- Average home price is expected to go up as high as 11% by this year and 26% in the next two years.
- Average monthly rental cost is at 1,500 USD.
- The population is projected to increase by 5.4% in the next three years.
- The job growth rate is expected to increase by 5% in the next two years.
Colleges like the University of Texas in Arlington will also play a significant role in making the city a lucrative option for property investing.
5. Atlanta, Georgia
Atlanta is known to be the home of the busiest airport in the world —Hartsfield-Jackson Atlanta International. Just last year over 100 million passengers passed through the airport. This fact alone makes Atlanta an exciting place to start investing in real estate. Here are some more reasons:
- The average home price of 210,000 USD is expected to increase by 12% this year.
- The overall population is supposed to be around 1.5 million residents by 2030.
- The job growth rate is expected to increase by over 2.5% in the next three years.
The city is also expecting to see a substantial economic growth once the Atlanta Beltline Transit Loop is finished by 2030. Atlanta is also home to 15 of the Top 500 Fortune Companies in 2017.
Success takes time, and this especially holds true in real estate investing. Spend time looking into the market and make sure there is room for growth. With the right timing and proper research, you can turn your investment into something that generates income for you for many years to come.