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Top Markets In U.S. For Investing in Real Estate
Investing in real estate can be a risky business, however, if you have the right plan in place, you can also strike it big.
It’s key to pay attention to the trends and using those numbers to make projections about the future health of various real estate markets. This includes
Other markets include:
Texas: a robust market and high livability.
Texas was the state with the second greatest number of
The Carolinas: affordable investments and a growing market.
Several cities throughout North and South Carolina were included among the best real estate markets, including Charlotte, Charleston, and Columbia. The Charlotte-Gastonia-Concord metropolitan area has an average home price of $220,758, a 22% three-year home price growth forecast, 5.5% population growth, and 3.6% job growth. Realtor.com confirmed the investment prospects of this region, and also added Charleston and Colombia in South Carolina as both ideal places to invest in and to move to.
This combination of overall growth and affordable housing makes the Carolinas an important market to keep an eye on.
Also, based on the findings from Local Market Monitor's analysis, the number one U.S. city for investing in real estate is Grand Rapids, Michigan. Surprised? According to Realtor.com, Grand Rapids is one of the most affordable cities in the nation in terms of living expenses and housing costs, making it an attractive and growing market. Additionally, the city's job growth is 14th in the nation. As a result, Grand Rapids flaunts an impressive 3.1% population growth rate. The three-year home price growth forecast is 22%, with a current average home cost of just $154,348.
Similarly, Detroit is slowly but surely climbing the ladder of investment potential, and currently has a solid 16.2% ROI for real estate investors. Housing is extremely cheap but expected to rise soon, making it an extremely hot market for savvy investors.
Source: Local Market Monitor and RealtyTimes
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