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Do you have an itch to invest in real estate and you want to do it in the best possible market? Many people choose to invest in real estate because the market offers both safety and growth.
However, investing in the wrong cities may leave you holding the bag on multiple mortgages that drain your bank account.
The key is to focus on growing cities with a thriving real estate market. In these cities, your investment will pay off and grow over time.
Top 5 Cities to Invest in Real Estate
Wondering which cities you should invest in when it comes to real estate? Keep reading to discover our top 5 picks!
1. Denver, CO
At first glance, Denver may look like a pretty unassuming city. However, it has several things going for it that make the area ripe for investment.
First, there has been a steady increase in rentals since 2015. This includes significant bumps in housing and condo rentals as well as office space rentals.
Second, the area has plenty of millennial appeal. It’s very scenic (the Rocky Mountains alone are a breathtaking sight) and has a lot of cultural attractions. Plus, the legalization of marijuana has made the city an even more attractive spot for college grads to embrace.
Third, Denver is surprisingly diverse in terms of industry. With a wide array of jobs in fields such as finance, tech, and energy, there’s a job for just about every college graduate in Denver.
2. Columbus, OH
There are many factors that make Columbus a great investment choice. We’ll start with the obvious: the price.
Real estate can be daunting to new investors because it requires so much capital to get started. Columbus, however, is in the investment “sweet spot.”
According to Zillow, you can buy a very solid home in Columbus for approximately $150,000. While housing values are likely to rise in the area, this is a great starting point for making your initial investment.
An increasing number of new residents need places to stay. Because of its booming tech and automotive jobs, Columbus has steadily lured more residents in year by year.
We can’t overlook that Columbus businesses are growing as well. This is the mark of a healthy and thriving city, and your real estate investment can grow right alongside it.
3. Las Vegas, NV
It may be surprising to see Las Vegas on this list. With its motto of “What happens in Vegas stays in Vegas,” many of us tend to look at this as a vacation destination instead of a place to settle down.
However, Vegas now has more in the way of job opportunities for prospective residents. This includes Amazon centers focused on distribution and return — these alone have helped to increase the Vegas housing industry.
The city is also attractive to many new residents because of its lack of both income and corporate taxes. Whether a new resident is working for someone else or working for themselves, they will take home more money in Vegas than they will in other cities.
With all that being said, Las Vegas is still recovering from the last economic recession. While that means it’s less fully formed than some of the other cities, it also offers you the opportunity to get in on a real estate “ground floor” investment that’s very likely to grow in value with the city.
4. Houston, TX
In terms of investment, Houston is a little pricier than Columbus. For example, you’re likely to pay closer to $200,000 for a house rather than $150,000 according to Zillow. What, then, do you get for your money?
For one thing, Houston has a ton of residents. According to the U.S. Census Bureau, over 2.3 million people currently live in the city, and that number is expected to rise.
Additionally, Houston enjoys a very diverse economy. You may only associate Texas with oil, but healthcare, banking, energy, and real estate are all in the midst of growing.
And yes, oil is still big here: Oil, gas, and petroleum are all major industries in Houston. Both new and existing residents are constantly moving because of new employment opportunities, making real estate a sensible investment in the area.
Whether it’s veteran workers seeking a change or college grads seeking their future, all roads lead to Houston. And this is your opportunity to invest in your own future via real estate.
5. Atlanta, GA
New York may be the city that never sleeps. However, we’re pretty sure that Atlanta is the city that never stops surprising us.
Because of its busy airport, Atlanta has a constant influx of new visitors. This means that people who are renting out rooms and homes on AirBNB and VRBO are experiencing robust demand and high prices.
Atlanta has also established itself as a powerhouse among tech hubs. Young grads who want to get into the field can do so in Atlanta instead of traveling as far East as Boston.
It’s also easy to overlook Atlanta has a scientific hub as well. With the CDC and other major institutions, the fields of science and medicine are absolutely thriving.
Finally, Atlanta continues to serve as the filming location for countless Hollywood movies (such as the Marvel Cinematic Universe films). And this means a constant need for actors and staff to find housing for months at a time.
Whether it’s for short-term visitors or long-term residents, Atlanta needs a housing market that can keep up with its needs. This is your chance to be part of the solution and also make a tidy profit along the way.
Invest in Real Estate: Making the Right Decision
Now you know where to invest in real estate. Next, learn how to get started in real estate by exploring this article.
With more millionaires and billionaires being made from real estate investing that any other approach, it’s clearly a skill you should learn.
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