Real estate investment is a growing trend, and with the ever-changing market, it’s essential to stay updated on the best areas to invest in. In this blog, let’s explore five underrated yet promising locations. From Boise, Idaho, to Phoenix, Arizona, and even a couple of states with high domestic migration rates, this blog will delve into the highlights of each area mentioned.
1. Boise, Idaho
Boise, Idaho, may not be on everyone’s radar, but it’s making waves as one of America’s best-performing real estate markets. With the median home price increasing from $130,000 in 2012 to around $460,000 today, it’s evident there’s substantial growth potential. The rental market is also thriving, with rents increasing from $400 to over $900 per month in the last three years. Investors looking for cash flow opportunities should definitely consider Boise.
Florida has always been a hotspot for domestic migration, and it continues to attract people from all over the country. The state’s property market witnessed a surge of nearly 100% since 2020 alone, and this trend is expected to continue. With Texas ranking second in domestic migration, it’s clear that people are flocking to these states for a variety of reasons. Those seeking investment opportunities should keep an eye on Northport Sarasota, Brendon, Naples, Marco Island, Punta Gorda, and Deltona Daytona Beach Ormond, all highlighted as top-performing areas within Florida.
El Paso, Texas, stands out as an enticing real estate investment opportunity. With the median house price increasing by over 100% since 2012 and the housing price index jumping by over 500% since 1980, it’s safe to say that Texas offers significant returns on investment. Texas’s overall positive economic climate, including job growth and a business-friendly environment, adds to its appeal for prospective investors.
4. North Carolina
North Carolina presents another attractive option for real estate investment. Following a 5% dip in home prices in 2021, investors who seized the opportunity have seen substantial rewards. Median house prices in North Carolina have climbed from $175,000 in 2013 to over $350,000 in 2023, representing a 100% gain in just a decade. This upward trajectory makes it a state worth considering.
5. Phoenix, Arizona
Phoenix, Arizona, emerges as the second best property market to invest in, based on a study ranking the 100 hottest property markets in the US. Factors such as inventory, affordability, and population growth contribute to Phoenix’s desirability among real estate investors. With the median house price increasing by over 500% since 1980, investing in Phoenix promises a potential high return on investment.
As the real estate market continues to evolve, it’s crucial to stay informed about the best areas to buy property. This blog highlights some underrated yet promising locations. From Boise, Idaho, to Florida, Texas, North Carolina, and Phoenix, Arizona, each area offers unique opportunities for real estate investors. Conducting thorough research and analyzing market trends will help investors make informed decisions and potentially reap significant rewards.