We all know that location is a crucial factor that determines the ROI of real estate investments. What most people struggle with, however, is keeping track of which areas are giving the best returns. That’s because market disruptions and trends tend to change quite often.
In this review, we will take a look at some of the top locations for real estate investments at the moment. We’ll also tell you what makes them attractive and why they deserve your consideration.
So let’s get started.
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Boise, Idaho
If you are looking for a great long-term real estate investment, then you seriously need to consider, Boise Idaho.
The real estate market in this area was ranked position one by Realtor. This is mostly due to the impressive performance of home sales and values. So impressive that the figures went up even during the COVID-19 pandemic in 2020.
The prices have been going up consistently, and the friendly mortgage rates and terms are keeping the demand just as high.
Boise was also ranked position six by Forbes for the most job growth. The job growth is quoted to be two to three times higher than the national average.
The area also has great population growth, low unemployment rates, and a significantly low cost of conducting business.
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Houston, Texas
The Houston housing market has been growing for quite some time now. The location is home to more than twenty Fortune 500 businesses. It has a large and constantly growing population which is almost double the national average.
Houston also has a booming oil and gas industry. These provide vast employment opportunities to the locals and even outsiders. In fact, it is reported to be the best performing city in job creation.
These are only a handful of the reasons why Houston should definitely be on your radar.
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Albuquerque, New Mexico
Although all cities, including Albuquerque, experienced significant job losses during the pandemic, this area performed 53% better than the rest of the country.
Albuquerque is also more affordable than most of the other housing markets in the country. The median price is roughly $219,000. That’s 14% less than the countrywide median value of the average home.
Meanwhile, the median rent per month is $1,700.
Another compelling reason to shortlist Albuquerque, New Mexico, is the low property taxes. New Mexico has some of the lowest property taxes you will find in the country. At an average of 0.78%, New Mexico homeowners pay up to $800 less than the rest of the country.
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Los Angeles, California
Los Angeles falls in the category of “establishments.” Establishments basically cover real estate markets that are already vastly developed with established government, cultural, and economic infrastructure.
Therefore, the markets are an amazing opportunity established for big investors. The LA real estate scene offers plenty of these opportunities. With neighborhoods like Playa Del Rey, Hollywood Hills, and Beverly grove, there’s virtually something for every investor.
These points of interest also attract people from all walks of life – from established film producers and directors to upcoming artists and students.
Due to the vast opportunities in LA, the area remains very enticing despite having a relatively high median monthly rent.
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Baltimore, Maryland
Baltimore is particularly an excellent option for buy-and-hold investors.
The city has a population of around 2.8 million and a median household income of $69,000.
The average monthly rent is roughly $1,650, which is above the national average. The median purchase price of a home is also above the national average.
However, you can get amazing remodeled homes for just $160,000.
The city has a strong job market and a steady population growth. Both are powering the real estate market.
Learning institutions like the John Hopkins University and the various cultural sites also play a key role in the growth of the Baltimore housing market.
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Spokane, Washington
Spokane, Washington, has quickly become a real estate hotspot in the country. Homes are selling faster in Spokane than in Seattle for the first time in years. That’s largely due to the friendly prices, diverse economy, and amazing amenities.
The average monthly rent is $1,295, while the median home price is $265,000. These are quite affordable compared to other parts of the country.
But the rapid development and price appreciation are likely to catch up with other booming real estate markets pretty fast.
The beauty of real estate investments is there is something for everyone. So whether you are looking for a magnetic or established location, you’re guaranteed to find the perfect spot for your needs.
You just need to take your time and do the research. The above areas are a great place to start.