Are you looking for an opportunity to diversify your investment portfolio with real estate? Well, you need to find the best cities in the United States for real estate investment. Because of the opportunity to earn recurring income from rentals, real estate is a popular asset type for investors. Your monthly rental payment can offset mortgage servicing costs if market conditions are good. To aid you in your quest, below is the list of top three cities to buy an investment property in 2022.
1. Boise, Idaho
In terms of real estate investment, Boise comes at the top of the list. According to Realtor.com, Boise boasts the nation’s best housing market. The fact that population and job growth are three times the national average is one of the main reasons for this position. Another reason why Boise housing market is so profitable is the scarcity of available properties. Because there is a limited amount of property available, competition is fierce, and home prices are skyrocketing. It may be challenging to break into the real estate industry, but if you do, expect good profits.
Top Reasons Why Boise is one of The Best Places to Invest in Real Estate
- Population and job growth are three times faster than the national average.
- Population increase is substantial.
- Job creation is 2-3 times faster than the national average.
- The cost of doing business is low.
- With an unemployment rate of 3.5 percent, the country has a low unemployment rate.
- Forbes placed the United States #6 in terms of job growth.
- Expect a 15-20% increase in value over the next year (Boise Metro).
- Despite the high rate of appreciation, home values are projected to continue steadily because the market appears to be in great demand.
2. Raleigh/Durham, North Carolina
Durham, NC, is also one of the most fantastic rental real estate markets in the USA. The city was regarded as one of the few desirable cities to invest in only two years after the initial explosion in 2008. Durham is now experiencing a seller’s market, which means that many individuals are attempting to relocate to or purchase property in Durham. The city has also established itself as one of the most incredible long-term investment magnets. Furthermore, numerous universities (such as Duke) are located in Durham, contributing to the city’s thriving economy. All these elements combine to make Durham one of the best locations to invest in right now!
Top Reasons Why Durham is one of The Best Places to Invest in Real Estate
- The median property prices in Raleigh and Durham are $340,303 and $304,217, respectively, and have risen substantially over the last year.
- The Research Triangle has a lot of career prospects; in fact, Raleigh is second only to Austin in terms of technology job chances.
- The most popular dwelling type is single-family detached residences.
- Raleigh and Durham have lower unemployment rates than the national average and higher annual average incomes.
- The average rent for an apartment in Raleigh is $1,287, up 3% over the previous year.
- Raleigh’s Population increased by 1.19 percent between 2017 and 2018, and its median household income increased by 1.6 percent, from $64,660 to $65,695.
3. Las Vegas, Nevada
How could I leave Las Vegas off my list of the most acceptable real estate investment cities in the USA? Las Vegas has seen various economic booms throughout its history. This year has been no exception! Las Vegas has seen far faster growth in new enterprises than the national average, simultaneously boosting and stimulating the economic growth. The Las Vegas valley is Nevada’s most important financial, commercial, and cultural center, which increases your chances of success with real estate investments.
Top Reasons Why Las Vegas is one of The Best Places to Invest in Real Estate
- The Population of Las Vegas is growing at an unprecedented rate. According to the recent census, its Population has risen 14.53 percent from 2010. It has a population of nearly 2 million people in the metro region.
- The city, traditionally powered by tourism and hospitality, has expanded into the health, high-tech, and commercial real estate industries. There are few other forms of business-related taxes than in other cities.
- The average rent for an apartment in Las Vegas is $1,196, up 9% over the previous year.
I chose these three best cities to invest in real estate based on recent home market trends, rate of appreciation, rent pricing, job growth, economy reliance, and quality of life. Generally, the three cities are the best invest on real estate if you want to make good returns from your real estate properties.