Investing in real estate in 2015 could be a great decision. Last year’s spikes in pricing are behind us, and many cities are experiencing growth in population and jobs. Home prices, unemployment, and Home Price/Rent Ratio are also factors that go into determining where might be a good place to invest in real estate this year. Whether you are looking to “buy and hold”, “fix and flip”, or buy a home for your family to live in, investing in real estate is all about location. We have put together a list of growing cities where experts believe now is the time to invest.
Austin, TX ranks 1st and is followed quite closely by Houston, Dallas, and San Antonio. Fort Worth closes the list at number 10. This makes Texas the best state to buy real estate this year, with 5 of the top 10 cities within its limits. These Texas cities are considered so promising because of their booming population and job growth, afforded by great business tax rates and a fast developing technology sector. Texas is also home to 54 Fortune 500 companies, which indicates its strong economic basis.
Other cities in the top 10 include Provo (UT), Orlando (FL), Denver (CO), Boise (ID) and Oklahoma City (OK). All these cities have relatively low unemployment and a growth of jobs and population, allowing an influx of potential renters for your property. A growth in jobs also means a strong local economy and more stability. Some have more underpriced options, some a higher annual price growth. Compare the numbers and see for yourselves:
Are you looking to invest in real estate this year? Which city do you think shows most promise? Share your insights in the comments! If one of these cities caught your eye, check out this post, to see if it’s time to move to a new city. It could be the best decision you make!