As 2022 drew to a close, the US housing market remained hot. And while growth is expected to slow down and settle throughout the new year, there are still plenty of prosperous opportunities to be found by buyers, sellers, and investors if they know where to look.
Real estate experts like Stu Simonsen of Billings, MT encourage budding investors to maximize their returns this year by finding properties with greater rental occupancies, low tenant default rates, and high rentals relative to mortgage repayments.
Although naturally, location plays a huge role in this kind of success. So, keep in mind the following researched cities to get most out of future real estate endeavors:
Boise, Idaho
Historically, Boise has a fantastic track record of being one of the US’ most fruitful long-term real estate investment areas. As home prices continue heading skyward, this city’s supply and demand dynamics remain strong.
Inventory has been tight since the COVID-19 pandemic. And even though mortgage prices have experienced unbelievably high hikes, shoppers are still searching for their dream Boise-based home, making it an ideal place for long-term investment opportunites.
Ada County’s median sale price ticked over $500,000 in 2022’s last quarter, with the city boasting an appreciation rate of 4.53% in the final quarter alone.
Dallas, Texas
Dallas is one of the most accessible markets for investments, thanks to its well-stocked inventory and high rental rates compared to the home price. The city also showcases various investment properties, making it attractive for diversification purposes.
Reports state that roughly 340 people move to the area daily — a statistic that will no doubt excite investors looking to hold rental homes. Finding tenants will prove easier here than in other cities, giving peace of mind regarding returns.
Due to the expected growth of the Metro area, the Dallas real estate market will likely remain hot for the foreseeable future.
Atlanta, Georgia
Atlanta is a popular investment haven with attractive prospects for savvy rental unit investors.
The population has risen by 14% over the last ten years, pushing housing demand to all-new heights. And, as well-established investors know, positive population and employment growth are two signs of a more-than-healthy market.
Currently, Atlanta is experiencing an economic boom. Thus, property prices are expected to increase in a few years. Those that get in now will undoubtedly reap the rewards down the line.
Tampa, Florida
Experts dubbed Tampa the hottest real estate market in the US over the past 12 months. Heading into 2023, there’s still a massive demand for single-family homes, catching the eye of many wise investors.
The market is growing steadily. But house prices are still low, giving investors a great chance of solid appreciation in the long term.
Columbus, Ohio
The median home sale price here is just $175,000, meaning it has a high rental yield. And even though the population growth is slow, there’s been a huge demand for renovated homes in well-establish neighborhoods with high walkability rates.
Investors who manage to snag a property in any of the five cities above will likely benefit from high appreciation in the long-term and decent rental income in the short term.
