Wondering where to invest in property in 2020? There are many cities in the USA where you could find rental properties with high cash flow at low prices. Here, in this article, you will learn the 9 best real-estate property markets to know where to invest in property in 2020. Read below to check what are the reasons that make these places worthy of investment.
Where to Invest in property and reason for investing in these Areas
1) Orlando, Florida
Job Growth: The employment growth in Orlando is top-most in the USA. Every year there is the creation of 45,000 new jobs. The job growth rate projection is at 3.44% per year for the next 10 years.
Affordability: This is still possible in Orlando to buy 3-bedroom renovated property at as low as $193,000 price.
2) Tampa, Florida
Job Growth: On the 2018 index by Milken Institute for best cities in the USA, the ranking of the Tampa area was 15.
Affordability: Although Tampa is the area where pricing of homes is high but still investors can get houses at low prices such as $150,000. They can then rent them for $1,485 per month which is more than the average rate.
3) Cincinnati, Ohio
Job Growth: The metro area of Cincinnati contains the 4th greatest quantity of new facilities in the USA. The rate of job growth is 40% quicker and faster than the average rate in the nation.
Affordability: One can buy fully renovated and cash flow rental properties in only $123,000 up to $150,000.
4) Cleveland, Ohio
Job Growth: The tech and healthcare sector of Cleveland is growing at a fast pace. Millennials are going to this region for availing the job opportunities at different organizations.
Affordability: The medium property cost is just $105,000. It is 53% less than the price of 2 bedrooms. It shows that appreciation and cash flow rates are high in this marketplace.
5) Dallas, Texas
Job Growth: Job growth is very high in Dallas. There were 100,200 new jobs in Dallas last year and job growth is increasing at 2.70%.
Affordability: This shows us that home values and monthly rents are rising more quickly than most other cities across the nation. The average 3-bedroom house price in the neighborhoods was $145,000 during the year 2019. This price is 35% less than the average national price of $222,000.
6) Indianapolis, Indiana
Job Growth: Indianapolis is known as the hub for Fortune 500 companies, bioscience, and technology. This is the only area in the USA with specialized job opportunities in 5 bioscience fields.
Affordability: This shows that Indianapolis is affordable with an opportunity to earn passive rental income. This is amongst those USA cities where one can easily buy the rental property for a price up to $135,000. The median rest for 3-bedroom house was $1,172 in Indianapolis.
7) Chicago, Illinois
Job Growth: Chicago is ranked as 3rd big city in the USA and also the 5th highly powerful economy in the world. It is the headquarter of 30 Fortune 500 firms that helps in increasing the GDP to $500 billion. Last year, 37,900 new jobs were added by Chicago.
Affordability: Chicago is that city where prices of homes have not increased since 2006 and this is because of foreclosure laws of the state. $210,000 is the median sale price for buying a house in Chicago. It shows huge chances of cash flow and appreciation as well.
8) Houston, Texas
Job Growth: Job growth in Huston is presently close to top-level in the entire USA and also the living expenses are below the average.
Affordability: During 2019, the average or median pricing for a 3-bed house was $175,000 in Houston. This price is 21% less than the average price at the national level. Huge opportunities for passive income are also available in Houston.
9) Huntsville, Alabama
Job Growth: This area, Huntsville is popular for its defense, space, and technology industries. The majority of new jobs are from military sector. This is a hub for different Fortune 500 companies.
Affordability: There are low tax rates and competitive rates in Huntsville. The price of the 3-bedroom house is around 158,750 which is 28% less than the national average. This is making this place a preferred option for purchasing a rental property. I hope that this article was more than useful and that you now know where to invest in property!