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Looking to Invest in Real Estate? 10 Best Cities

October 7, 2016 2:27 am


Real estate is one of the best investments you can make, time and again named the most profitable avenue to accumulate wealth. Certain factors in your real estate venture, however—as with any investing strategy—can impact your bottom line.

The best locations currently to invest in real estate, based on indicators such as upward employment and home values, according to a recent survey by GOBankingRates.com, are:

1. Orlando, Fla.
Investors can expect to pay off a single-family home in Orlando in approximately 12 years and 4 months, as home values have increased 11 percent.

2. Tampa, Fla.
Investors can expect to pay off a single-family home in Tampa in approximately 9 years and 6 months, as home values have increased 11.6 percent.

3. Denver, Colo.
Investors can expect to pay off a single-family home in Denver in approximately 15 years and 1 month, as home values have increased 10.5 percent.

4. Seattle, Wash.
Investors can expect to pay off a single-family home in Seattle in approximately 19 years and 8 months, as home values have increased 16.7 percent.

5. Austin, Texas
Investors can expect to pay off a single-family home in Austin in approximately 18 years and 8 months, as home values have increased 9.3 percent.

6. Reno, Nev.
Investors can expect to pay off a single-family home in Reno in approximately 17 years and 1 month, as home values have increased 13.9 percent.

7. Dallas, Texas
Investors can expect to pay off a single-family home in Dallas in approximately 7 years and 9 months, as home values have increased 17.6 percent.

8. Portland, Ore.
Investors can expect to pay off a single-family home in Portland in approximately 18 years and 1 month, as home values have increased 20 percent.

9. Raleigh, N.C.
Investors can expect to pay off a single-family home in Raleigh in approximately 13 years and 3 months, as home values have increased 5.6 percent.

10. Miami, Fla.
Investors can expect to pay off a single-family home in Miami in approximately 9 years, as home values have increased 6.1 percent.

“Growing populations in the top 10 cities on our list are fueling the need for more housing,” said Cameron Huddleston, Life + Money columnist for GOBankingRates.com, in a statement on the survey. “That’s why these cities are such great places to own investment property now.”

Notably, three of the 10 best cities on GOBankingRates’ list are in Florida, and two are in Texas.

Source: GOBankingRates.com
 

Published with permission from RISMedia.