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The real estate market in the US is recovering and that means rising house prices and rising mortgage rates. Unfortunately, this also means that houses are becoming less affordable, making it difficult for first-time buyers to gain a foothold in the market.
However, there are a number of cities that are ideal for buying property due to their local property market and affordability and positive economic environment. If you want to buy a house or invest in a rental property, here are some cities you should consider.
Dallas / Fort Worth, Texas
The Texas metropolitan area is growing rapidly, both economically and in terms of population. The low cost of living, the low business costs and the strong growth of the labor market make this city a city attractive place to live and worknot to mention the thriving art and culture scene. The demand for rental properties is increasing. So if you want to become a landlord or rent your home with Airbnb, Dallas / Fort Worth may be the place to start.
Aspiring agents should also consider earning a Texas real estate license. It is a perfect opportunity for those who want to move in real estate.
Raleigh, North Carolina
The Raleigh / Durham region is also growing, and the strong employment growth they saw last year is expected to continue through 2020. It has a historically stable and balanced real estate market, which makes it a safe choice for real estate investors. There has also been an influx of younger people move to the area as millennials try to start their careers right after college. It’s an attractive place for this demographic because of its strong job base – many leading high-tech companies are based in Raleigh – and downtown cultural events. It is even higher than New York City and Washington, DC as a top place for young people to live and work.
The Villages, Florida
Located in central Floridian, the city is not far from Orlando (another top city to invest in real estate) and is one of the fastest growing US cities, classified as such for two years in a row according to the census. It has also been listed by Forbes Magazine as one of the best retirement locations in the country and is known as an incredibly friendly city. As the winters in southern Florida are quite warm, it’s a perfect place to escape the cold every year. If you know all of this, why not want a property there? For a good overview of the real estate market, visit TOTV – the Florida villages and see if it’s the right investment for you.
Denver, Colorado
Aside from the beautiful landscapes in Denver, it’s a coveted city to move to because of the dynamic economy and the strong real estate market while maintaining affordability. The strong labor market means an incredibly low unemployment rate thanks to the hospitality, finance, healthcare, biotechnology, defense, aerospace and cannabis sectors. It is also an attractive city for millennials, as there are many employment opportunities as well as the hustle and bustle of the city center. Whether you’re buying a home to move into, or buying an investment property to rent or listing on Airbnb, Denver has a high return on investment for real estate, especially rental properties.
