A Real Estate Investor’s Moving Guide: 5 Cities With Great Potential
Even though the US real estate market lost its prior stability, experts and data suggest that certain areas will see a decrease in home prices, meaning it would be a great time for real estate investors to make the right purchase. Some locations seem to offer more benefits than others, including a better chance to maximize profits. Now could be the perfect moment for an experienced property investor to discover the best options.
It’s no secret that real estate investments can yield excellent results financially for those who know what to do. Of course, a lot depends on the property’s location, and an expert must understand that some cities prove to be more profitable long term. Considering factors such as maintenance costs, tenant laws, state and tenant laws regarding real estate, and mortgage expenses, finding the right city for a future investment can be more accessible.
We’ve put together a list of cities where real estate investors could relocate to and make the right purchase to maximize profits.
1. Austin, TX
Austin has long been seen as the perfect destination for young professionals. It’s been ranked 17th on the list of best US cities for entrepreneurs and startups. However, it’s also a great place for families, as it ranks 33rd on the list of best cities to raise a family in America. Overall, Austin ranks 23rd on the list of best places to live. What matters for real estate investors is that Austin’s median home value is a bit above $300,000, with an average rent of $1,200.
2. Denver, CO
Denver’s population of close to 700,000, paired with the fact that its urban environment is made up of equal halves of renters and homeowners, makes the city a haven for real estate investors who want to try something new to maximize their profits. Plus, Denver ranked 11th on the list of best cities for young people who need a good job, and the city is 27th on the list of healthiest locations to live in the US. The median home value is about $350,000, with a median rent of $1,200.
3. Charlotte, NC
With an urban-suburban mix, where more than 50% of residents are homeowners, and a population above 800,000, Charlotte is a dream place for property investors. Plus, the city is one of the most diverse places in the US, and it ranks 29th on the list of best cities to buy a house in the US. The median home value stands at $200,000 in the city, while the median rent is a bit above $1,000.
4. Phoenix, AZ
Phoenix’s homeownership is one of the highest in America, standing at 53%, and the city has a population above 1.6 million. The median home value is above $215,000, while the median rent is below $1,000. Phoenix ranks 57th on the list of most diverse places in the US, while it’s also a great city to retire to in America, ranking 65th.
5. Boise, ID
Boise might be a small city with a population of 225,000, it still a great place for real estate investors, as more than 55% of residents are homeowners. Boise ranks 32nd on the list of best cities to buy a house in the US, while it also ranks favorably on lists regarding raising a family. With a median home value of $230,000 and a median rent of $900, property investors have many opportunities.
Whether you choose Austin, Phoenix, or Denver, you need a professional moving company to help you relocate to the best city you can maximize your profits in the real estate market. They will take the burden of relocating your shoulders, so you can concentrate on choosing the best to make the best investment in your life.
Empire Movers is a fully licensed and insured moving company based in New York City. The professional movers offer a wide range of moving services, including local, commercial, and long-distance moving.