Real estate is a popular form of investment since it provides the opportunity to earn regular monthly income from rental properties. If done right, rental properties can earn you enough money to offset monthly expenses for your property and earn some extra income, but you have to ensure you’re choosing the right location. A good location will give you the best return on investment, and some cities provide better opportunities than others. Check out the top 5 cities to invest in real estate this year.
- Boise, Idaho
Boise has a longstanding reputation for being one of the best locations for long-term real estate in the U.S. Based on the city’s growth in home sales and prices in the last year, its housing market also ranked first in 2020. The city is experiencing record-breaking population and job growth, which means there’s no shortage of people searching for a place to live.
- Dallas, Texas
Dallas’ population is expected to surge in the next 15 years. The city is also a leader in employment growth with the majority of people choosing to rent rather than buy a home. In fact, 52.9 percent of the city’s population rents. On top of that, the price of properties is averaging five to 15 percent below market value.
- Houston, Texas
Houston is the fourth largest city in the U.S. It also ranks first for job creation. The city is rapidly growing, and the unemployment rate is far below the national average. Not to mention, the city has a very active market, which means that it will be easy to find a buyer for your home if you choose to sell and get out of an investment.
- Atlanta, Georgia
Atlanta’s population has grown by more than 14 percent in the last 10 years, which has drastically increased housing demand. The city is also home to one of the best rental markets, which makes it a great place to invest in rental properties.
- Las Vegas, Nevada
Las Vegas has an incredibly diverse economy, and new business development is helping drive positive real estate trends for the city. Rental income for properties in the city averages around $1,107 per month, which is a 5 percent increase from last year.
If you’re looking to invest in a growing real estate market, these five cities should be on your list. Their steady population growth and abundance of job opportunities make them great places to find quality tenants for your investment properties.