21 Best Places to Invest in Real Estate in 2024

Best Places To Invest In Real Estate or Buy a Rental Property

In this article, we will discuss some of the best places to invest in real estate in 2023. Despite the fluctuations in the housing market in recent years, real estate investment continues to be an attractive asset class for investors. With the potential to earn recurrent income from rentals, real estate can be a lucrative investment opportunity. Although the current scenario of high-interest rates may give some investors pause, the right investment in the right market can still yield significant returns.

Investing in real estate can still be considered a viable option despite the current scenario of high-interest rates in 2023. Real estate remains an attractive asset class for investors due to the opportunity to earn recurrent income from rentals. Record-low mortgage rates and a scarcity of available inventory kept the US housing market strong in terms of buyer demand in the past two years. Although mortgage rates have risen, the strong housing demand is still driving prices up, albeit slowly.

The US housing market continues to be a somewhat moderate seller’s real estate market, with annual price growth slowing down and inventory rising. Potential homebuyers may still face a bidding war if they are looking for a new house in the spring-buying season of 2023. As a real estate investor, it is important to crunch the numbers and determine the best cities to invest in.

During the pandemic, prospective homebuyers around the United States paid top dollar for homes, with remote employees and their desire for more lavish homes fueling the market. However, with the lack of homes for sale, many potential buyers may be unable to find affordable entry-level housing, predisposing them to transition into single-family rentals. Rental demand is expected to continue to increase in 2023 as a result.

The single-family rental market in the US remained robust as renters flocked to the suburbs in Q3 2022, according to Arbor’s Q3 2022 Single-Family Rental Investment Trends Report. SFR is seen as a viable alternative for potential homebuyers who are priced out of home ownership. The report showed that SFR rent growth slowed but remained elevated, while build-to-rent (BTR) construction starts reached a new record high of 69,000 over the past year. Additionally, cap rates remained unchanged at 5.3% despite rising interest rates.

This presents a great opportunity for real estate investors looking to purchase single-family rental properties. This asset class is best positioned to grow in the coming years. The interest of investors in single-family rental homes has risen to a great extent during this pandemic. Large investors are gravitating toward it.

However, it is important to conduct thorough research and choose the best places to invest in real estate in 2023. All real estate is local, so understanding the local factors that can affect your investment is crucial. Single-family rental homes provide an affordable and flexible option to meet the needs of families and individuals in search of quality housing.

As of now, institutional investors account for only 2 percent of the 90-million unit market, according to NHRC. This is meager as compared to the US multifamily sector, where more than 50 percent of ownership is held by institutional investors. Hence, the single-family rental market remains an emerging market for both individual and institutional investors.

In conclusion, despite rising interest rates, investing in real estate can still provide a reliable source of recurrent income. The single-family rental market is particularly promising, as it continues to grow and attract more investors. It’s important to do your due diligence when selecting a city to invest in, but with the right research and strategy, real estate can be a great investment opportunity in 2023. Let’s take a look at some of the best places to invest in real estate in 2023.

How To Choose the Best Places To Invest In Real Estate In The World?

You may be located anywhere in the world, but the basic principles of the real estate business remain unchanged – you want to choose those places for your investment properties where the return on investment is high. To maximize the returns from your real estate investment you want to buy property in places with the following features:

• High rental occupancy: Check how much of the available housing stock in an area is vacant;
• High rentals relative to your mortgage repayments: The more of your mortgage you can cover from rentals, the better; and
• A low tenant default rate: The last thing you want is to buy property in an area where tenants frequently miss rent payments.

Real estate investing requires in-depth research. Market timing also matters as some cities have exceptional rental income prospects, but a very tight inventory. In that scenario, it becomes very difficult to find and close a deal that fits your investment criteria. Therefore, you need to act fast and wisely.

Don’t take any uninformed decision without evaluating the fundamentals of the real estate market you intend to purchase in – is it growing, stable, or declining? Are you planning for short-term capital gains or long-term buy and hold? To make it easy for you, we recommend contacting an investment counselor who can help you to invest in some of the best real estate markets in the United States.

Here Are the 21 Best Places to Invest in Real Estate in 2024

If you’re considering a real estate investment in the coming year, there are a few markets worth investigating further due to anticipated price increases. We looked at data and examined trends from across the US to bring you this list of the 21 best places to invest in real estate in 2023. Here are the best places to invest in real estate and buy rental properties. They all have their own set of qualities and disadvantages, but many of them are less expensive than the national average.

1. Boise, Idaho

Boise, the capital city of Idaho, is becoming a popular destination for real estate investors for several reasons. Boise’s strong job market, affordable housing, growing population, stable real estate market, and low property taxes make it an attractive destination for real estate investors. Whether you are looking to purchase a rental property or invest in real estate for capital appreciation, Boise offers a great opportunity for investors.

Here are the top reasons why Boise is considered one of the best places to invest in real estate:

Real Estate Appreciation:  The real estate market in Boise, Idaho has shown strong growth over the past 10 years, with a home appreciation rate of 217.86% and an average annual rate of 12.26%, putting it in the top 10% nationally for real estate appreciation, according to NeighborhoodScout’s data. Despite a lower appreciation rate of 7.62% over the last year, Boise’s latest quarter showed a 3.87% appreciation rate, equivalent to an annual rate of 16.41%. However, this rate is lower compared to 80% of the other cities and towns in Idaho. It is important to note that while these are average rates for the city, individual neighborhoods within Boise can vary greatly in their investment potential.

Strong job market: Boise has a thriving economy, driven by a strong job market in industries such as technology, healthcare, and education. This growing job market attracts new residents, which drives demand for housing and increases property values.

Affordable housing: Compared to other major cities in the US, Boise offers more affordable housing options, making it an attractive option for first-time homebuyers and investors. This, in turn, can lead to steady rental income for investors and the potential for capital appreciation over time.

Growing population: Boise is experiencing steady population growth, as people are attracted to the city’s high quality of life, outdoor recreational opportunities, and affordable cost of living. This growing population drives demand for housing, which can lead to increased property values.

Stable real estate market: Boise has a stable real estate market with a low rate of foreclosures and a consistent rate of home price appreciation. This makes it an attractive option for investors who are seeking stability and predictability in their investments.

Boise, ID Real Estate Trends: The median listing home price in Boise, ID was $528.9K in December 2022, trending down -2.9% year-over-year. The median listing home price per square foot was $292. Boise, ID was a seller’s market in December 2022, which means that there are more people looking to buy than there are homes available.

The market had a total sales-to-total listings ratio above 0.2, which tends to favor sellers. On average, homes in Boise, ID sell after 62 days on the market. The trend for median days on market in Boise, ID has gone up since last month, and slightly up since last year. These housing market trends in Boise are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

 

2. Houston, Texas

Houston is one of the all-time best places to invest in real estate. This city is the home of the US oil and gas industry and offers perennial employment opportunities. Greater Houston is Texas’ fifth-largest metro region, with over 7.2 million residents, and its population continues to expand at a rate nearly double that of the rest of the country. Forty-one Fortune 1000 companies are headquartered in the Houston region. Houston ranks fourth in the nation on this measure, behind Greater New York, Chicago, and Dallas-Ft. Worth. These strong macroeconomic factors continue to power the Houston housing market.

Houston, Texas has several factors that make it a strong market for real estate investment. Some of the reasons include:

• Strong job market: Houston has a diverse and robust economy, with a strong energy sector, medical center, and aerospace industry, among others, which drives job growth and attracts new residents.
• Affordable housing: Compared to other major cities, Houston has relatively affordable housing, which can provide investment opportunities for both rental properties and flips.
• Growing population: Houston is one of the fastest-growing cities in the U.S., with a growing population and an increasing demand for housing.
• Tax benefits: Texas has no state income tax, making it a more attractive location for both residents and businesses, and potentially increasing the demand for housing.
• Robust real estate market: Houston has a strong real estate market with a steady history of appreciation, providing opportunities for long-term growth and stability for investors.

Houston Real Estate Trends: The median listing home price in Houston, TX was $340K in December 2022, trending up 3.1% year-over-year. The median listing home price per square foot was $174. Houston, TX was a balanced market in December 2022, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Houston, TX sell after 59 days on the market. The trend for median days on market in Houston, TX has gone up since last month, and slightly up since last year. These housing market trends in Houston are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

3. Dallas, Texas

Dallas is another good place to invest in real estate in 2023.  Dallas, Texas is one of the most rapidly growing cities in the United States, and for good reason. It has a thriving economy, a growing population, and a diverse real estate market that offers opportunities for both residential and commercial investments.

Dallas is a great place to invest in real estate due to its strong job market, affordable housing, growing population, diverse real estate market, positive real estate trend, and pro-business environment. Whether you’re looking to invest in residential or commercial properties, Dallas has something to offer everyone.

Here are some of the top reasons why Dallas is one of the best places to invest in real estate:

• Affordable Housing: Dallas is known for its affordable housing compared to other major cities in the United States. This has made it an attractive destination for homebuyers, leading to increased demand for housing and, as a result, higher home values.
• Strong Job Market: Dallas has a strong and diversified economy, which is reflected in its low unemployment rate and high job growth. Major industries in the city include technology, finance, and healthcare, which all contribute to a steady influx of new residents and businesses.
• Growing Population: The population of Dallas is rapidly growing, with an estimated increase of 1.5 million people over the next 10 years. This population growth, coupled with the strong job market, will likely result in an increased demand for both residential and commercial real estate.
• Diverse Real Estate Market: Dallas offers a diverse real estate market, with opportunities for investment in both residential and commercial properties. The city has a large inventory of single-family homes, townhouses, and apartments, as well as office buildings, shopping centers, and industrial properties. The Dallas real estate market offers a wide range of investment properties; you just have to find your tenants to rent out the property. Hiring a local property management company can help in finding tenants for your rental property in Dallas.
• Positive Real Estate Trend: The real estate market in Dallas has been consistently positive, with a steady increase in home values and rental rates over the past few years. This trend is expected to continue, making it a great time to invest in the Dallas real estate market.
• Pro-Business Environment: Dallas has a pro-business environment, which has led to the growth of many major corporations in the city. This, in turn, has resulted in increased demand for both residential and commercial real estate, as businesses and employees look for places to live and work.

Dallas Real Estate Trends: The median listing home price in Dallas TX was $424.9K in January 2023, trending up 7.6% year-over-year. The median listing home price per square foot was $237. Dallas, TX was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Dallas, TX sell after 62 days on the market. The trend for median days on market in Dallas, TX has gone up since last month, and slightly up since last year. These housing market trends in Dallas are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

4. Las Vegas, Nevada

How can we miss Las Vegas on our list of best places to invest in real estate? Las Vegas has experienced several booms in its history. And it saw an incredible real estate bust during the Great Recession. Las Vegas’ recovery hasn’t made the same headlines as the 50% or greater declines in home values did a decade ago. Yet its recovery shouldn’t keep investors away.  Throughout the pandemic, the Las Vegas housing market was among the hottest in the United States.

Las Vegas is a city that is known for its vibrant entertainment scene, luxury casinos, and world-class dining experiences. However, it’s not just a great place to visit, but also a prime location to invest in real estate. Las Vegas is an excellent location for real estate investment, with a strong job market, high rental demand, affordable housing, a growing population, investment in infrastructure, a thriving tourist industry, and favorable tax benefits. If you are considering investing in real estate, Las Vegas is a prime location to consider.

Here are the top reasons why Las Vegas is one of the best places to invest in real estate:

• High Rental Demand: With the city’s strong job market and population growth, there is a high demand for rental properties. This, in turn, leads to stable rental income and a steady appreciation of property values.
• Affordable Housing: Compared to other major cities in the United States, Las Vegas offers affordable housing options. Real estate prices are lower, and the cost of living is relatively low. This makes it an attractive destination for those looking to invest in real estate on a budget.
• Growing Population: Las Vegas is one of the fastest-growing cities in the United States. With a growing population, there is a high demand for housing, which drives up real estate values and provides a stable investment opportunity.
• Strong Job Market: Las Vegas has a robust job market, with a variety of industries contributing to its growth, including tourism, gaming, construction, and technology. As a result, the city has a strong economy and a low unemployment rate, which is beneficial for real estate investors.  Las Vegas is the most populated city in the state of Nevada and the 28th most populated city in the United States. The Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada. A diversified economy is driven by health-related, high-tech, and other commercial interests.
• Investment in Infrastructure: Construction is also a significant component of the economy. The city is making a significant investment in its infrastructure, with new transportation projects, business parks, and residential developments underway. This investment in infrastructure is attracting new businesses, tourists, and residents to the area, which will only benefit real estate investors in the long run.
• Tourist Destination: Las Vegas is one of the most popular tourist destinations in the world, attracting millions of visitors each year. The city’s thriving tourism industry is a significant contributor to its economy and provides real estate investors with a reliable source of rental income.
• Tax Benefits: Nevada is one of the few states in the United States that does not have a state income tax, making it an attractive location for real estate investors. Additionally, Nevada has favorable property tax rates, making it an attractive location to own real estate.

Las Vegas Real Estate Trends: The median listing home price in Las Vegas was $425K in January 2023, trending up 6.3% year-over-year. The median listing home price per square foot was $245. There are 52 neighborhoods in Las Vegas. The Paseos has a median listing home price of $889.9K, making it the most expensive neighborhood.

Pioneer Park is the most affordable neighborhood, with a median listing home price of $290.5K. These housing market trends in Dallas are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

5. Atlanta, Georgia

Atlanta, Georgia is a city that has experienced remarkable growth in recent years and is now considered one of the best places to invest in real estate. From its booming economy to its diverse culture, there are numerous reasons why you should consider investing in Atlanta real estate. Atlanta is Georgia’s capital and economic center. It is considered one of the 10 most productive states that contribute to the USA’s GDP annually.

Atlanta is a city that offers a lot of potential for real estate investors. From its strong economy to its growing population, there are plenty of reasons why you should consider investing in this city. With its low cost of living, diverse culture, and good returns on investment, Atlanta is one of the best places to invest in real estate in the United States.

Here are the top reasons why you should consider investing in this city.

• Low Cost of Living: Compared to other major cities, Atlanta has a relatively low cost of living. This makes it an attractive location for both renters and investors. The city also has a large population of young professionals, which means that there is a high demand for affordable housing options.
• Growing Population: Atlanta has a growing population, with a high number of young professionals and families moving to the city. This growing population is driving demand for housing, making it a great time to invest in the real estate market.
• Diverse Culture: Atlanta is known for its diverse culture and vibrant atmosphere. The city is home to a large number of cultural events, festivals, and attractions, making it a great place to live and invest.
• Thriving Economy: Atlanta has a strong and diverse economy that continues to grow. The city is home to several Fortune 500 companies and is also a hub for technology, finance, and healthcare industries. This means that there are plenty of job opportunities and high demand for housing in the area.
• Strong Real Estate Market: Atlanta has a strong real estate market, with a high demand for housing and a growing population. This means that there are plenty of opportunities for real estate investors to make a profit. The city is also home to a number of affordable housing options, making it accessible to a variety of investors.
• Good Returns on Investment: Atlanta has a strong track record for providing good returns on investment for real estate investors. The city’s growing population and strong economy make it a safe and profitable location for real estate investments.
• Accessibility: Atlanta is located in the heart of the southeast and is easily accessible by air, road, and rail. This makes it a great location for those who travel frequently or want to live in a city that is well-connected.

Atlanta Real Estate Trends: The median listing home price in Atlanta GA was $399.9K in January 2023, flat year-over-year. The median listing home price per square foot was $255. Atlanta was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Atlanta, GA sell after 73 days on the market. The trend for median days on market in Atlanta, GA has gone up since last month, and slightly up since last year. These housing market trends in Atlanta are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

6. Orlando, Florida

Orlando, FL is a tourism and entertainment favorite, because of this, it remains a strong real estate investment destination. Investors have a choice of targeting the long-term residential or holiday markets with their properties. Both offer strong returns. Orlando, Florida is a highly sought-after destination for both tourists and real estate investors. With its warm weather, a bustling economy, and world-renowned attractions, Orlando offers a number of compelling reasons to invest in its real estate market.

Orlando’s strong tourism industry, growing job market, affordable cost of living, thriving business community, and a growing population all make it one of the best places to invest in real estate. With a wide range of investment opportunities available, from rental properties to commercial real estate, Orlando is a market that real estate investors can’t afford to ignore.

Here are some of the top reasons why Orlando is one of the best places to invest in real estate:

• Growing Job Market: Orlando’s job market is one of the fastest-growing in the country, with a number of high-tech industries, such as aerospace and simulation, leading the way. This growing job market is attracting a highly educated and skilled workforce, which is driving demand for both residential and commercial properties in the area.
• Affordable Cost of Living: Compared to other major cities in the US, Orlando offers a relatively low cost of living, making it an attractive destination for families and retirees alike. This affordable cost of living, combined with a strong job market and growing economy, makes Orlando an ideal location for real estate investment.
• Thriving Business Community: Orlando’s business community is thriving, with a number of high-tech, aerospace, and simulation companies making their home in the area. This strong business community, along with a growing job market and affordable cost of living, is driving demand for both residential and commercial properties, making Orlando a great location for real estate investment.
• Strong Tourism Industry: Orlando is home to some of the world’s most famous theme parks, including Disney World, Universal Studios, and SeaWorld. This strong tourism industry attracts millions of visitors each year, which in turn drives demand for both short-term and long-term rental properties. This means that real estate investors can expect consistent demand for their properties, making Orlando an ideal location for rental investments.
• Growing Population: Orlando’s population is growing rapidly, making it one of the fastest-growing cities in the US. This growing population, combined with a strong job market, a thriving business community, and an affordable cost of living, is driving demand for both residential and commercial properties in the area, making it an ideal location for real estate investment.

Orlando Real Estate Trends: The median listing home price in Orlando FL was $362K in January 2023, trending up 9.7% year-over-year. The median listing home price per square foot was $226. The median home sold price was $350K. Orlando was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Orlando, FL sell after 72 days on the market. The trend for median days on market in Orlando, FL has gone up since last month, and slightly up since last year. These housing market trends in Orlando are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

7. Tampa, Florida

Tampa, FL is also on the list of best places to invest in real estate. With a population of more than 4 million, Tampa, FL is not only an attractive metropolitan area but is also one of the most frequently visited tourist destinations. Tampa, Florida is a thriving city that has been experiencing steady growth in terms of both population and economic development.

It is one of the best places to invest in real estate, due to its growing population, strong economy, affordable cost of living, thriving tourism industry, access to the beach, investment opportunities, and favorable climate. With so many factors working in its favor, it’s no wonder that Tampa is a popular destination for real estate investors.

Here are the top reasons why Tampa is one of the best places to invest in real estate.

• Strong Economy: The Tampa Bay area has a robust economy, driven by industries such as technology, healthcare, and finance. This strong economy is attracting new businesses and creating jobs, which is increasing the demand for housing in the area.
• Affordable Cost of Living: Compared to other cities in the U.S., Tampa has a relatively low cost of living. This makes it an attractive destination for people who are looking to relocate or invest in real estate. As a result, property values in Tampa have been steadily increasing.
• Thriving Tourism Industry: Tampa is home to several popular tourist destinations, including Busch Gardens and the Florida Aquarium. This thriving tourism industry drives demand for rental properties, making it a great place for real estate investment.
• Growing Population: Tampa has a rapidly growing population, which is increasing the demand for housing in the area. As more people move to the city, the need for rental properties and new homes is growing, making Tampa a great place for real estate investment.
• Access to the Beach: Tampa is located on the Gulf of Mexico, and is within driving distance to several beautiful beaches, including Clearwater Beach and St. Pete Beach. This access to the beach is a major draw for both residents and tourists, making it an attractive place to invest in real estate.
• Investment Opportunities: Tampa has several investment opportunities in both residential and commercial real estate. There are many properties available for purchase, including single-family homes, townhouses, and apartments. Additionally, there are also investment opportunities in commercial real estate, such as retail, office, and industrial properties.
• Favorable Climate: Tampa has a subtropical climate that is warm and sunny year-round. This favorable climate attracts both residents and tourists, making it a great place for real estate investment.

Tampa Real Estate Trends: The median listing home price in Tampa FL was $395K in January 2023, trending up 8.2% year-over-year. The median listing home price per square foot was $252. The median home sold price was $380K. Tampa was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Tampa, FL sell after 70 days on the market. The trend for median days on market in Tampa, FL has gone up since last month, and slightly up since last year. These housing market trends in Tampa are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

8. Spokane, Washington

There are several reasons why Spokane, WA is considered one of the best places to invest in real estate. These include its affordable Spokane housing market, strong rental demand, growing economy, and abundant outdoor recreational opportunities. Additionally, the city has a thriving arts and culture scene, a variety of educational institutions, and a low cost of living, all of which make it an attractive destination for both residents and investors alike.

Here are the top reasons why Spokane is one of the best places to invest in real estate.

1. Strong Housing Market: Spokane’s real estate market is currently experiencing a strong seller’s market, with increasing home values and low inventory.
2. Affordable Housing: Spokane has a lower cost of living compared to other major cities in the Pacific Northwest, making it an affordable place to invest in real estate.
3. Growing Economy: Spokane has a growing economy with job opportunities in healthcare, education, and manufacturing. This translates to a steady demand for housing.
4. Population Growth: Spokane’s population has been steadily increasing over the years, making it an attractive location for real estate investments. The 2020 Census showed that Spokane city’s population was 222,647, a 7.5% increase from 2010.
   
5. Pro-Business Environment: Spokane is known for its pro-business environment, with various incentives and tax breaks that encourage businesses to set up shop in the city. This creates more job opportunities and attracts more residents to the area.
6. Outdoor Recreation: Spokane is known for its outdoor recreation, with numerous parks, hiking trails, and water activities. This makes it a desirable place to live, work, and invest in real estate.

Spokane Real Estate Trends: The median listing home price in Spokane WA was $400K in January 2023, trending flat year-over-year. The median listing home price per square foot was $201. The median home sold price was $340K. Spokane was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Spokane sell after 69 days on the market. The trend for median days on market in Spokane has gone up since last month, and slightly up since last year. These housing market trends in Spokane are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

9. Chicago, Illinois

Chicago is also on our list of the best places to invest in real estate. Chicago is the third-largest metropolitan area in the U.S., with almost three million in Chicago and another ten million in the surrounding metro area. Chicago has a large population, a diverse economy, and a stable market. Chicago’s strong rental market, thriving downtown, presence of well-developed infrastructure, blue-collar areas with high rents, large population, investment opportunities in revitalizing neighborhoods, affordable housing, investment in public transportation, and thriving start-up culture make it an attractive destination for real estate investors. 

Here are the top reasons why Chicago is one of the best places to invest in real estate.

• Strong rental market: Over 50% of the population rents, making it a great place for real estate investors.
• Thriving downtown: Chicago is a financial hub and a thriving, modern city, with much to offer in terms of diverse amenities, culture, and a strong economy.
• Blue-collar areas with high rents: Chicago has solid blue-collar areas with high rents, which can provide great returns on investment for real estate investors.
• Large population: Despite a recent population decline, Chicago is still a city of almost 2.7 million people, making it a significant market for real estate investment.
• Presence of well-developed infrastructure: Chicago has well-developed infrastructure and socioeconomic metrics that favor long-term real estate investing.
• Investment Opportunities in Revitalizing Neighborhoods: Chicago has many neighborhoods that have undergone a revitalization in recent years, making them more attractive to potential renters and real estate investors. Investing in these areas can provide significant returns, especially when done early in the development process.
• Affordable Housing: Chicago has a relatively affordable housing market compared to other major metropolitan areas, making it an attractive option for investors looking to provide quality housing at reasonable prices.
• Investment in Public Transportation: Chicago’s public transportation system, including the L train, provides excellent connectivity to the city’s neighborhoods, and with ongoing investments, it is likely to attract more renters and real estate investors in the future.
• Thriving Start-Up Culture: Chicago has become a hub for start-ups, and this trend is expected to continue. This growth can drive up the demand for housing, providing more opportunities for real estate investors.

Chicago Real Estate Trends: The median listing home price in Chicago was $330K in January 2023, trending flat year-over-year. The median listing home price per square foot was $232. The median home sold price was $295K. Chicago was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Chicago sell after 73 days on the market. The trend for median days on market in Chicago has gone up since last month, and slightly down since last year. These housing market trends in Chicago are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

10. Austin, Texas

Austin, TX is also on our list of best places to invest in real estate. The Austin real estate market isn’t as big as Dallas, San Antonio, or Houston. Austin is only the fourth largest city in the state. However, the Austin housing market is sizable – it is the eleventh largest city in the U.S. as of this writing, and it is the center of a large metro area. Austin has come up as another tech hub in the last 5 to 6 years.

There are tons of high-paying tech jobs that moved to Austin in the last couple of years. As Austin is a young city by many standards, Millennials will be the largest buying force in Austin in 2023, and this trend should continue in the coming years. This is going to be more attractive for the areas being close to neighborhood amenities and close to shopping & hang-out spots. Real estate industry experts think that there is no bubble. Austin’s economy is strong and varied. Overall there is a huge scarcity of homes for sale in Austin. It just hasn’t kept up with the pace of people moving here.

Here are the top reasons why Austin is one of the best places to invest in real estate.

• Booming economy: Austin’s economy is booming, thanks to the presence of several major tech companies, such as Dell, IBM, and Apple, which has led to a significant increase in employment opportunities and population growth.
• Growing population: Austin is one of the fastest-growing cities in the U.S. with a population growth rate of around 2.5% annually. This growth has created a high demand for housing, making it an attractive market for real estate investors.
• Diverse job market: Austin’s economy is not solely reliant on the tech industry. The city has a diversified economy that includes industries such as healthcare, education, government, and tourism, providing a stable job market for residents.
• Strong rental market: Austin has a strong rental market, with a high percentage of renters in the population. This trend is expected to continue due to the high cost of homeownership and the influx of young professionals and college students.
• Cultural hub: Austin is known for its vibrant cultural scene, with a variety of music, art, and food festivals throughout the year. This has led to a steady flow of tourists, making the city an attractive destination for short-term rental investments.
• Favorable tax environment: Texas has no state income tax, making it an attractive option for investors looking to maximize their profits.
• Pro-business environment: Austin has a pro-business environment, with low regulatory hurdles, making it easier for real estate investors to navigate the market.
• Innovative city: Austin is known for its innovative spirit, which has led to the development of new technologies and industries. This trend is expected to continue, providing more opportunities for real estate investors to invest in emerging markets.
• Strong infrastructure: Austin has a strong transportation system, including an international airport and an expanding public transportation network, making it easy to get around the city and attractive to both residents and visitors.
• Quality of life: Austin consistently ranks highly in quality of life surveys due to its warm climate, access to outdoor recreation, and overall livability. This has led to a high demand for housing, making it an attractive market for real estate investors looking to provide quality housing options.

Austin Real Estate Trends: The median listing home price in Austin was $600K in January 2023, trending up 9.1% year-over-year. The median listing home price per square foot was $351. Austin was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Austin sell after 62 days on the market. The trend for median days on market in Austin has gone down since last month, and slightly down since last year. These housing market trends in Austin are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

11. Columbus, Ohio

Columbus is also on the list of the best places to invest in real estate. Its strong economy, diverse job market, affordable housing, and growing population as some of the key factors that make it an attractive destination for real estate investors. Additionally, Columbus’s well-developed infrastructure, revitalizing neighborhoods, and thriving start-up culture, provide ample investment opportunities for those looking to invest in the city’s real estate market.

Here are some top reasons why Columbus, Ohio is one of the best cities to invest in real estate:

• Growing Population: Columbus is the fastest-growing city in the Midwest, with a population of over 900,000, and its population is expected to continue to grow in the coming years. This makes it a significant market for real estate investment.
• Strong Economy: Columbus has a diverse economy and is home to several Fortune 500 companies, including Nationwide Insurance, American Electric Power, and L Brands. The city’s unemployment rate is also lower than the national average, making it a stable market for real estate investment.
• Affordable Housing: The cost of living in Columbus is lower than the national average, and the city has a relatively affordable housing market compared to other major cities. This makes it an attractive option for real estate investors looking to provide quality housing at reasonable prices.
• Large Student Population: Columbus is home to Ohio State University, one of the largest universities in the country, with over 60,000 students. This provides a significant demand for rental properties, making it an ideal location for real estate investors looking to target the student rental market.
• Strong Rental Market: With a growing population and a large student population, Columbus has a strong rental market. Over 50% of the population rents, making it an excellent place for real estate investors.
• Revitalization of Neighborhoods: Columbus has several neighborhoods that have undergone a revitalization in recent years, such as the Short North, German Village, and Italian Village. These areas are now more attractive to potential renters and real estate investors, with a growing number of restaurants, shops, and entertainment venues.
• Investment in Infrastructure: Columbus has made significant investments in infrastructure in recent years, such as the Smart City initiative, which aims to modernize the city’s transportation system. These investments will make the city more attractive to renters and real estate investors.
• Strong Job Growth: Columbus has experienced strong job growth in recent years, with many new jobs being created in the technology and healthcare industries. This bodes well for the real estate market, as more jobs mean more people looking for housing.

Columbus Real Estate Trends: The median listing home price in Columbus was $249K in January 2023, trending up 10.7% year-over-year. The median listing home price per square foot was $168. The median home sold price was $273.5K. Columbus was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Columbus sell after 46 days on the market. The trend for median days on market in Columbus has gone up since last month, and slightly up since last year. These housing market trends in Columbus are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

12. Lakeland, Florida

Lakeland, FL also enters the list of the best places to invest in real estate in 2023.  Florida is one of the most popular states for real estate investing, and Lakeland is a hidden gem in the Sunshine State. Located in the heart of Central Florida, Lakeland is a rapidly growing city with a strong economy, a thriving job market, and a growing population. With affordable housing, a strong rental market, and a low cost of living, Lakeland offers real estate investors the significant potential for long-term growth and profitability.

Here are the top reasons why Lakeland, Florida is one of the best cities to invest in real estate.

• Affordable Housing: Lakeland’s real estate market is relatively affordable compared to other major cities in Florida, making it an attractive option for investors looking to provide quality housing at reasonable prices.
• Growing Population: Lakeland’s population has been growing steadily in recent years, with a projected population increase of over 7% by 2025. This growth is expected to drive demand for housing and create opportunities for real estate investors.
• Strong Rental Market: With a large student population and a growing number of young professionals, Lakeland has a strong rental market. The city’s low cost of living and attractive lifestyle make it a popular destination for renters.
• Job Market: Lakeland has a strong job market, with major employers in industries such as healthcare, education, and manufacturing. A growing number of startups and small businesses are also contributing to the city’s economic growth.
• Tourism: Lakeland is a popular tourist destination, with attractions such as the historic downtown area, the Polk Museum of Art, and the Sun ‘n Fun Aerospace Expo. The city’s growing tourism industry creates opportunities for short-term rental investments.
• Location: Lakeland’s location in Central Florida offers easy access to major cities such as Orlando and Tampa, making it an attractive destination for both residents and visitors.
• Development: Lakeland has seen significant development in recent years, with new residential and commercial projects contributing to the city’s growth. This development creates opportunities for real estate investors to get in on the ground floor of emerging neighborhoods and areas.

Lakeland Real Estate Trends: The median listing home price in Lakeland was $315K in January 2023, trending down 1.5% year-over-year. The median listing home price per square foot was $188. The median home sold price was $303.5K. Lakeland was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Lakeland sell after 83 days on the market. The trend for median days on market in Lakeland has gone up since last month, and slightly up since last year. These housing market trends in Lakeland are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

13. Ocala, Florida

Ocala, FL finds itself on the list of the best places to invest in real estate in 2023. Ocala, Florida is a small but growing city that offers plenty of opportunities for real estate investors. Known for its beautiful natural landscapes and historic downtown area, Ocala has become a popular destination for retirees, young families, and outdoor enthusiasts alike. In recent years, the city has experienced significant economic growth, thanks in part to its diverse industries, including healthcare, education, and manufacturing.

Here are the top reasons why Ocala is one of the best cities to invest in real estate:

• Affordable Real Estate Prices: Ocala offers some of the most affordable real estate prices in Florida, making it an attractive option for investors looking to maximize their returns.
• Strong Rental Market: Ocala has a strong rental market, with a growing demand for both single-family homes and multi-family properties. With low vacancy rates and high rental yields, investors can expect a steady stream of income from their investments.
• Growing Population: Ocala’s population has been steadily growing over the past decade, making it a prime market for real estate investors. The city’s population is projected to continue growing in the coming years, driven in part by the influx of retirees and young families seeking affordable housing and high quality of life.
• Thriving Healthcare Industry: Ocala is home to a number of major healthcare providers, including AdventHealth and Ocala Regional Medical Center. The city’s growing healthcare industry is driving demand for medical office space and other commercial properties, creating opportunities for real estate investors.
• Strong Tourism Industry: Ocala’s natural beauty and outdoor recreational opportunities, including the Ocala National Forest and the Silver Springs State Park, have made it a popular destination for tourists. As a result, there is a strong demand for short-term vacation rentals, making it an attractive market for investors.
• Historic Downtown Area: Ocala’s historic downtown area has undergone a revitalization in recent years, attracting new businesses and residents to the area. As a result, there is a growing demand for commercial and residential properties in the downtown area, creating opportunities for real estate investors.
• Access to Major Cities: Ocala is located just a short drive from major cities like Orlando and Tampa, making it an attractive option for those seeking a quieter, more affordable lifestyle within easy reach of urban amenities. As a result, there is a growing demand for housing in the area, creating opportunities for real estate investors.

Ocala Real Estate Trends: The median listing home price in Ocala was $299.9K in January 2023, trending up 12.8% year-over-year. The median listing home price per square foot was $179. The median home sold price was $279K. Ocala was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Ocala sell after 85 days on the market. The trend for median days on market in Ocala has gone up since last month, and slightly up since last year. These housing market trends in Ocala are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

14. Birmingham, Alabama

Birmingham, AL also ranks in our list of the best places to invest in rental real estate in 2023. The Birmingham AL real estate market continues to take steps in the right direction. Birmingham, Alabama is a growing city that offers many opportunities for real estate investors. Known for its rich history, cultural diversity, and economic growth, Birmingham is quickly becoming a top destination for both new residents and businesses. Overall, Birmingham offers a combination of affordability, economic growth, and cultural attractions that make it an excellent city for real estate investors looking to maximize their returns.

Here are the top reasons why Birmingham is a great city to invest in real estate:

• Affordable Real Estate Prices: Birmingham offers some of the most affordable real estate prices in the country, making it an attractive option for investors looking to maximize their returns.
• Strong Rental Market: Birmingham has a strong rental market, with a growing demand for both single-family homes and multi-family properties. With low vacancy rates and high rental yields, investors can expect a steady stream of income from their investments.
• Economic Growth: Birmingham has experienced significant economic growth in recent years, thanks to its diverse industries, including healthcare, finance, and technology. With a thriving job market, investors can expect an increase in demand for housing and commercial properties.
• Growing Population: Birmingham’s population has been steadily growing over the past decade, making it a prime market for real estate investors. The city’s population is projected to continue growing in the coming years, driven in part by the influx of young professionals seeking affordable housing and high quality of life.
• Access to Major Markets: Birmingham is located within easy driving distance of major markets like Atlanta, Nashville, and Memphis, making it an attractive option for businesses and residents alike. This proximity to major markets also makes Birmingham an attractive option for real estate investors.
• Historic Architecture: Birmingham has a rich history, and many of its historic buildings have been preserved and renovated for modern use. This creates opportunities for investors to purchase and renovate historic properties, creating unique and profitable real estate assets.
• Cultural Attractions: Birmingham has a thriving arts and culture scene, with many museums, theaters, and music venues. This creates a strong demand for commercial properties in areas like downtown Birmingham, providing investors with opportunities for long-term growth.

Birmingham Real Estate Trends: The median listing home price in Birmingham was $159.7K in January 2023, trending down 3.2% year-over-year. The median listing home price per square foot was $112. The median home sold price was $192.5K. Birmingham was a buyer’s market in January 2023, which means that the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12 which favors buyers. On average, homes in Birmingham sell after 60 days on the market. The trend for median days on market in Birmingham has gone up since last month, and slightly up since last year. These housing market trends in Birmingham are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

15. Durham, North Carolina

Durham, NC  is also one of the best places to invest in rental real estate in 2023. The Durham housing market has made considerable improvements since the housing bubble burst. Only two years after the market crash in 2008, Durham was considered one of the few favorable locations to invest in real estate. With strong population growth and a solid economy, the rental demand in Durham, North Carolina is continuously increasing. Durham, North Carolina is a rapidly growing city that offers a strong economy, diverse population, and thriving cultural scene.

Here are the top reasons why Durham is a great city to invest in real estate:

• Strong Job Market: Durham is home to major employers like Duke University, IBM, and GlaxoSmithKline, making it a hub for high-paying jobs in healthcare, technology, and pharmaceuticals. The city has a low unemployment rate and a high median household income, creating a stable base of renters and homebuyers.
• Growing Population: Durham’s population has grown rapidly in recent years, with a 13% increase since 2010. This growth is projected to continue, fueled by a diverse population of young professionals, families, and retirees seeking a high quality of life and access to top-tier amenities.
• Affordable Real Estate Prices: Despite its strong economy and growing population, Durham offers some of the most affordable real estate prices in the region. This makes it an attractive market for investors looking to maximize their returns and capitalize on the city’s potential for growth.
• Top-Tier Universities: Durham is home to Duke University, one of the top universities in the country, as well as North Carolina Central University and Durham Technical Community College. These institutions drive demand for student housing and create a pool of highly educated renters and homebuyers.
• Revitalized Downtown Area: Durham’s downtown area has undergone a major revitalization in recent years, attracting new businesses, restaurants, and cultural institutions to the city. This has created a growing demand for residential and commercial properties in the area, making it an attractive market for investors.
• Access to Major Cities: Durham has located just a short drive from major cities like Raleigh and Chapel Hill, as well as Research Triangle Park, one of the largest research and development centers in the world. This proximity to urban amenities and top-tier employers creates a strong demand for housing in the area, making it an attractive market for real estate investors.
• Quality of Life: Durham offers a high quality of life, with a thriving arts and culture scene, top-rated healthcare facilities, and easy access to outdoor recreation opportunities like the Eno River State Park and the American Tobacco Trail. These amenities make Durham an attractive destination for renters and homebuyers, driving demand for real estate in the area.

Durham Real Estate Trends: The median listing home price in Durham was $405K in January 2023, trending up 1.5% year-over-year. The median listing home price per square foot was $222. The median home sold price was $355K. Durham was a balanced market in January 2023, which means the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Durham sell after 69 days on the market. The trend for median days on market in Durham has gone up since last month, and slightly up since last year. These housing market trends in Durham are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

16. Charlotte, North Carolina

Charlotte is also one of the best places to invest in rental real estate. The Charlotte metropolitan area or Metrolina has experienced rapid population and job expansion. One reason for this is the city’s business-friendly environment. The homebuyers in the Charlotte area have dealt with a persistent seller’s market, which has shrunk inventory and driven up home prices. Charlotte, North Carolina is a thriving city known for its diverse economy, vibrant culture, and attractive quality of life. It is the largest city in North Carolina and the second-largest city in the Southeastern United States, making it a hub for business, education, and entertainment.

Here are the top reasons why Charlotte is a great city to invest in real estate:

• Strong and Diversified Economy: Charlotte is home to several Fortune 500 companies, including Bank of America, Lowe’s, and Duke Energy, making it a hub for finance, energy, and retail. The city also has a growing tech sector, with companies like Red Ventures and AvidXchange calling Charlotte home. This diverse economy creates a stable base of renters and homebuyers, making it a great market for real estate investors.
• Growing Population: Charlotte is one of the fastest-growing cities in the country, with a population increase of over 15% since 2010. This growth is projected to continue, fueled by a diverse population of young professionals, families, and retirees seeking a high quality of life and access to top-tier amenities.
• Affordable Real Estate Prices: Despite its strong economy and growing population, Charlotte offers some of the most affordable real estate prices in the region. This makes it an attractive market for investors looking to maximize their returns and capitalize on the city’s potential for growth.
• Top-Ranked Schools and Universities: Charlotte is home to several top-ranked public and private schools, as well as several universities, including the University of North Carolina at Charlotte and Queens University. These institutions drive demand for student housing and create a pool of highly educated renters and homebuyers.
• Revitalized Downtown Area: Charlotte’s downtown area has undergone a major revitalization in recent years, attracting new businesses, restaurants, and cultural institutions to the city. This has created a growing demand for residential and commercial properties in the area, making it an attractive market for investors.
• Access to Major Cities: Charlotte is located within driving distance of several major cities, including Atlanta, GA, and Washington, D.C. It is also home to the Charlotte-Douglas International Airport, which serves as a major transportation hub for the Southeastern United States. This proximity to urban amenities and transportation creates a strong demand for housing in the area, making it an attractive market for real estate investors.
• Quality of Life: Charlotte offers a high quality of life, with a thriving arts and culture scene, top-rated healthcare facilities, and access to outdoor recreation opportunities like Lake Norman and the U.S. National Whitewater Center. These amenities make Charlotte an attractive destination for renters and homebuyers, driving demand for real estate in the area.

Charlotte Real Estate Trends: The median listing home price in Charlotte was $399K in January 2023, trending up 6.4% year-over-year. The median listing home price per square foot was $217. The median home sold price was $385K. Charlotte was a balanced market in January 2023, which means the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2. On average, homes in Charlotte sell after 70 days on the market. The trend for median days on market in Charlotte has gone up since last month, and slightly up since last year. These housing market trends in Charlotte are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

17. Colorado Springs, Colorado

Colorado Springs is also on the list of the best places to invest in rental real estate. Colorado Springs, Colorado is a vibrant city located at the base of the Rocky Mountains. With a growing population and strong economy, Colorado Springs offers a variety of opportunities for real estate investors.

Here are some top reasons to consider investing in the Colorado Springs real estate market:

• Strong Job Market: Colorado Springs has a diverse economy that is fueled by industries such as aerospace, defense, technology, and tourism. The city is home to major employers like Northrop Grumman, Boeing, and Lockheed Martin, as well as several military installations including Fort Carson and the United States Air Force Academy. This strong job market creates a stable base of renters and homebuyers, making it an attractive market for real estate investors.
• Growing Population: Colorado Springs is one of the fastest-growing cities in the country, with a population increase of over 10% since 2010. This growth is projected to continue, driven by a diverse population of young professionals, families, and retirees seeking a high quality of life and access to outdoor recreation opportunities.
• Affordable Real Estate Prices: Despite its strong economy and growing population, Colorado Springs offers relatively affordable real estate prices compared to other cities in the region. This makes it an attractive market for investors looking to maximize their returns and capitalize on the city’s potential for growth.
• Outdoor Recreation Opportunities: Colorado Springs is known for its stunning natural beauty and access to outdoor recreation opportunities. The city is home to attractions like the Garden of the Gods, Pikes Peak, and the Cheyenne Mountain Zoo. This natural beauty and easy access to outdoor recreation make Colorado Springs an attractive destination for renters and homebuyers, driving demand for real estate in the area.
• Military Presence: Colorado Springs has a significant military presence, with several military installations located in the area. This creates a stable base of renters and homebuyers, as well as a demand for rental properties near military installations.
• Strong Rental Market: Colorado Springs has a strong rental market, with a vacancy rate below the national average and a steady increase in rental prices over the past several years. This makes it an attractive market for real estate investors who are looking to generate passive income from rental properties.

Colorado Springs Real Estate Trends: The median listing home price in Colorado Springs was $439.9K in January 2023, trending up 2.9% year-over-year. The median listing home price per square foot was $212. The median home sold price was $335K. Colorado Springs was a buyer’s market in January 2023, which means the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12, which favors sellers. On average, homes in Colorado Springs sell after 115 days on the market. The trend for median days on market in Colorado Springs is flat since last month, and slightly up since last year. These housing market trends in Colorado Springs are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

18. Denver, Colorado

Denver, Colorado also makes the list of the best places to invest in real estate. Rentals in this city have been gradually increasing over the years. This consistent growth has been driven by a buoyant economy creating jobs. Tourism is also high, driving strong returns in the holiday rental market. Jobs are a major reason why people move to Denver in the first place.

Denver is a bustling city that is quickly growing in popularity, attracting an influx of residents and businesses to the area. That explains why Denver is one of the top cities for in-migration, attracting people from all over the state as well as the country. With a thriving economy, stunning scenery, and a range of amenities, Denver is a great place to invest in real estate.

Here are the top reasons why:

• Strong Economy: Denver is home to a strong and diverse economy, with major industries including healthcare, education, and technology. The city has consistently low unemployment rates, high median household incomes, and a growing population, making it an attractive market for real estate investors.
• Growing Population: Denver has experienced significant population growth in recent years, with a 21% increase in population since 2010. This growth is expected to continue, driven by a young and educated population seeking access to top-tier amenities and a high quality of life.
• Booming Real Estate Market: Denver’s real estate market is booming, with home values increasing rapidly over the past few years. In fact, Denver was recently ranked as one of the hottest real estate markets in the country, making it a prime location for investors looking to capitalize on the city’s growth.
• Proximity to Outdoor Recreation: Denver is located at the base of the Rocky Mountains, providing easy access to world-class outdoor recreation opportunities like skiing, hiking, and camping. This proximity to nature is a major draw for residents and tourists alike, driving demand for real estate in the area.
• Cultural and Entertainment Scene: Denver offers a vibrant cultural and entertainment scene, with a range of museums, galleries, music venues, and festivals throughout the year. The city is also home to a thriving food and beverage scene, with a range of top-rated restaurants and breweries.
• Top-Tier Education: Denver is home to a range of top-tier universities and colleges, including the University of Denver and the University of Colorado Denver. These institutions attract a highly educated population and drive demand for student housing in the area.
• Access to Major Cities: Denver is located within driving distance of other major cities like Boulder, Fort Collins, and Colorado Springs. This proximity to other urban centers creates a strong demand for housing in the area, making it an attractive market for real estate investors.

Denver Real Estate Trends: The median listing home price in Denver, CO was $565K in January 2023, trending up 6.6% year-over-year. The median listing home price per square foot was $355. The median home sold price was $460K. Denver was a buyer’s market in January 2023, which means the supply of homes is greater than the demand for homes.

The market had a total sales-to-total listings ratio below 0.12, which favors buyers. On average, homes in Denver sell after 134 days on the market. The trend for median days on market in Denver has gone up since last month, and slightly up since last year. These housing market trends in Denver are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

19. Raleigh, North Carolina

Raleigh is also on the list of best places to invest in rental real estate. Raleigh, North Carolina is a city on the rise, offering a thriving economy, a strong job market, and top-tier amenities. The Raleigh metropolitan area – the city and its surrounding suburbs – account for about one and a half million people.

Raleigh offers a range of attractive qualities for real estate investors, including a strong job market, a growing population, affordable real estate prices, top-tier universities, a thriving cultural scene, access to outdoor recreation, and a growing tech industry. These factors make it a great location for real estate investors looking to capitalize on the city’s potential for growth and maximize their returns.

Here are some of the top reasons to invest in the Raleigh, North Carolina real estate market:

• Strong Job Market: Raleigh is home to major employers like IBM, Cisco Systems, and North Carolina State University, making it a hub for high-paying jobs in technology, education, and healthcare. The city has a low unemployment rate and a high median household income, creating a stable base of renters and homebuyers.
• Growing Population: Raleigh’s population has grown rapidly in recent years, with a 22% increase since 2010. This growth is projected to continue, fueled by a diverse population of young professionals, families, and retirees seeking a high quality of life and access to top-tier amenities.
• Affordable Real Estate Prices: Despite its strong economy and growing population, Raleigh offers some of the most affordable real estate prices in the region. This makes it an attractive market for investors looking to maximize their returns and capitalize on the city’s potential for growth.
• Top-Tier Universities: Raleigh is home to North Carolina State University, one of the top universities in the country, as well as several other colleges and universities. These institutions drive demand for student housing and create a pool of highly educated renters and homebuyers.
• Thriving Cultural Scene: Raleigh offers a thriving cultural scene, with a range of museums, galleries, music venues, and festivals throughout the year. The city is also home to a growing food and beverage scene, with a range of top-rated restaurants and breweries.
• Access to Outdoor Recreation: Raleigh offers easy access to outdoor recreation opportunities like hiking, biking, and boating, with several parks and lakes in the area. This proximity to nature is a major draw for residents and tourists alike, driving demand for real estate in the area.
• Growing Tech Industry: Raleigh is home to a thriving tech industry, with several startups and established companies in the area. This has created a strong demand for housing in the city, particularly among young professionals in the tech sector.

Raleigh Real Estate Trends: The median listing home price in Raleigh, NC was $420.2K in February 2023, trending flat year-over-year. The median listing home price per square foot was $221. The median home sold price was $393K. Raleigh was a seller’s market in February 2023, which means that there are more people looking to buy than there are homes available.

The market had a total sales-to-total listings ratio above 0.2, which favors sellers. On average, homes in Raleigh sell after 63 days on the market. The trend for median days on market in Raleigh has gone down since last month, and slightly up since last year. These housing market trends in Raleigh are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

20. Phoenix, Arizona

Phoenix is also on the list of best places to invest in rental real estate. It is becoming a top destination for people living in high-cost areas like Los Angeles & Seattle. Phoenix is a rapidly growing city that has become an attractive market for real estate investors. With a strong and diverse economy, a growing population, and a range of amenities, Phoenix offers many opportunities for those looking to invest in real estate

The Phoenix real estate market offers many opportunities for investors looking to capitalize on the city’s strong economy, growing population, and range of amenities. With affordable housing, high rental demand, and a range of investment opportunities, Phoenix is a market worth considering for real estate investment.

Here are the top reasons to consider investing in the Phoenix real estate market:

• Strong and Diverse Economy: Phoenix has a strong and diverse economy with major industries including healthcare, education, technology, and tourism. The city has consistently low unemployment rates and a growing population, making it an attractive market for real estate investors.
• Growing Population: Phoenix has experienced significant population growth in recent years, with a 12.5% increase in population since 2010. This growth is expected to continue, driven by a young and educated population seeking access to top-tier amenities and a high quality of life.
• Affordable Housing Market: Compared to other major metropolitan areas, Phoenix has a relatively affordable housing market. This affordability, combined with a growing demand for housing, creates a strong market for real estate investors.
• High Rental Demand: With a growing population and a large student population, Phoenix has a high demand for rental properties. This makes it an attractive market for investors looking to generate steady rental income.
• Tourism: Phoenix is a popular tourist destination, with over 22 million visitors in 2019 alone. This drives strong returns in the vacation rental market, making it an attractive investment opportunity for those looking to invest in short-term rental properties.
• Proximity to Outdoor Recreation: Phoenix is located in the Sonoran Desert and is surrounded by mountains, providing easy access to world-class outdoor recreation opportunities like hiking, biking, and camping. This proximity to nature is a major draw for residents and tourists alike, driving demand for real estate in the area.
• Major Transportation Hub: Phoenix is a major transportation hub, with a busy international airport and major highways connecting it to other major cities in the Southwest. This makes it an attractive location for businesses and residents alike, driving demand for real estate in the area.

Phoenix Real Estate Trends: The median listing home price in Phoenix, AZ was $450K in January 2023, trending up 1.1 year-over-year. The median listing home price per square foot was $281. The median home sold price was $400K. Phoenix was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2, which favors none. On average, homes in Phoenix sell after 78 days on the market. The trend for median days on market in Phoenix has gone up since last month, and slightly up since last year. These housing market trends in Phoenix are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

21. Seattle, Washington

Seattle too makes our list of one of the best places to invest in real estate for those who can afford it. Seattle offers strong economic prospects and a buoyant labor market. This means that rental occupancies are expected to remain high. The city’s population has grown consistently over the last few years with families drawn to the city’s lifestyle. Housing prices have doubled in the past five years, growing twice as fast as the national average since 2016.

Seattle’s tech landscape and real estate market are rapidly evolving. Google has upped the size of its new Seattle campus. Facebook has been on a hiring spree in the Seattle area, particularly for its virtual reality arm Oculus, which is growing fast in Microsoft’s backyard of Redmond. GeekWire reported on new HQ leases for top Seattle startups Rover and Outreach.

Other companies continue to grow and that will pick up any slack. Tech has blown up Seattle. For the past 5 years, we have seen that this market has priced out many middle-class buyers. Despite the high cost of living, Seattle, Washington, remains a hotbed for real estate investment. The city’s strong economy, growing job market, and attractive location make it an ideal choice for investors looking to capitalize on the city’s steady growth.

Overall, Seattle’s strong economy, growing population, limited housing supply, high-quality education, attractive location, and stable market make it a top choice for real estate investors looking for a reliable and profitable investment opportunity.

Here are the top reasons why investing in Seattle’s real estate market may be a wise decision:

• Strong Job Market: Seattle is home to a diverse economy with thriving industries in technology, healthcare, and aerospace. Companies such as Amazon, Microsoft, and Boeing are headquartered in the area, providing a strong job market with high-paying jobs and attracting top talent from around the world.
• Growing Population: Seattle’s population has been steadily growing in recent years, driven by the strong job market and high quality of life. The city’s population is projected to continue to grow, with estimates predicting a 16% increase in population by 2040. This growth is driving demand for housing, making it an attractive market for real estate investors.
• Limited Housing Supply: Seattle’s booming economy and growing population have created a housing shortage in the city, leading to a limited supply of housing. This has driven up housing prices, making it an ideal market for real estate investors looking to capitalize on the high demand for housing.
• High-Quality Education: Seattle is home to several prestigious universities, including the University of Washington, which attracts a large number of students and faculty to the area. This has driven demand for student housing, making it a great opportunity for real estate investors looking to invest in rental properties.
• Attractive Location: Seattle’s location, nestled between Puget Sound and the Cascade Mountains, makes it a desirable location for those seeking access to outdoor recreation opportunities. The city also boasts a thriving arts and culture scene, top-rated restaurants, and a variety of entertainment options, making it an attractive destination for residents and tourists alike.
• Stable Market: Despite the high cost of living, Seattle’s real estate market has remained relatively stable, with steady growth in home values and rental rates. This makes it a reliable market for long-term real estate investments.

Seattle Real Estate Trends: The median listing home price in Seattle, WA was $794.1K in January 2023, trending up 5.9 year-over-year. The median listing home price per square foot was $581. The median home sold price was $765K. Seattle was a balanced market in January 2023, which means that the supply and demand of homes are about the same.

The market had a total sales-to-total listings ratio between 0.12 and 0.2, which favors none. On average, homes in Seattle sell after 75 days on the market. The trend for median days on market in Seattle has gone up since last month, and slightly up since last year. These housing market trends in Seattle are based on single-family, condo, and townhome properties listed for sale on Realtor.com. Land, multi-unit, and other property types are excluded.

Now that you know where to invest in real estate, it’s time to figure out how to do it properly. One of the best investments you can make is in income-producing rental properties, but only if you know what you’re doing. We can help you succeed by avoiding risk and boosting profit by researching top real estate growth markets.

Contact us if you’re seeking the best affordable real estate investment opportunities in 2023. We are a provider of turnkey real estate – with properties as far south as Florida to as far north as Michigan. Here is a link to some of the top-growing real estate markets where we have investment properties for sale. 

Foreign Investment in US Real Estate: A Look at the Latest Data

Foreign individuals and corporations are free to purchase residential or commercial real estate in the United States. Real estate is a global asset class, and foreign investment in the US real estate market has been an important source of capital for many years. The National Association of Realtors® (NAR) publishes an annual report on international transactions in US residential real estate to provide insights into the trends and patterns of foreign investment. Let’s take a closer look at the latest data.

Dollar Volume of Foreign Buyer Residential Purchases

According to the NAR report, the dollar volume of foreign buyer residential purchases during April 2021-March 2022 was $59 billion, which is equivalent to 2.6% of $2.3 trillion of the dollar volume of existing-home sales. This indicates that foreign investment in US real estate continues to be significant.

Number of Foreign Buyer Existing-Home Purchases

The report also reveals that 98,600 foreign buyer existing-home purchases were made during April 2021-March 2022, which represents 1.6% of 6.06 million existing-home sales. This demonstrates that foreign buyers are still active in the US real estate market. Interestingly, the report found that 57% of foreign buyers who purchased US residential property were already residing in the United States. This includes recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders who reside for more than six months in the US for professional, educational, or other reasons.

Top Foreign Buyers

The report also lists the top foreign buyers in the US residential real estate market. The top five countries are Canada (11% of foreign buyers, $5.5 billion), Mexico (8% of foreign buyers, $2.9 billion), China (6% of foreign buyers, $6.1 billion), India (5% of foreign buyers, $3.6 billion), and Brazil (3% of foreign buyers, $1.6 billion). Colombia also makes the list with 3% of foreign buyers and $1.0 billion.

Implications for the US Real Estate Market

Foreign investment has been a key driver of the US real estate market, and the latest data from the NAR report suggests that this trend is likely to continue. Foreign buyers are attracted to US real estate for a variety of reasons, such as economic and political stability, a strong rule of law, and a relatively low cost of living compared to other developed countries. These factors make the US an attractive destination for foreign investment.

Furthermore, foreign investment can provide significant benefits to the US real estate market. For example, it can boost economic growth, create jobs, and increase demand for US goods and services. However, foreign investment can also have its downsides, such as driving up home prices and reducing housing affordability for US residents.

In summary, the latest data on foreign investment in US real estate from the NAR report highlights the ongoing importance of foreign buyers in the US real estate market. While there are potential benefits and drawbacks to foreign investment, it is clear that the US real estate market remains an attractive destination for global capital.

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References:

• https://www.realtor.com/research/data/
• https://www.zillow.com
• http://www.afire.org
• https://www.neighborhoodscout.com
• https://www.rentcafe.com
• https://en.wikipedia.org
• https://www.nar.realtor/research-and-statistics/research-reports/international-transactions-in-u-s-residential-real-estate