As per Mike Bjorkman if you're on the market for a new home, now is the time to consider the cities of the future. In the city of brotherly love - Philadelphia, for example - there are some fantastic chances. Philadelphia has a low property tax rate, high housing values, and a reasonable pace of appreciation. If you have some additional funds to invest on a new home, you should definitely take a look!
Over the last year, home prices have been steadily increasing, with yearly price increase reaching historic highs. This tendency is expected to continue through 2022, and purchasers can anticipate bidding wars. However, there are other cities that will prove to be excellent investments in the next years. In 2022, the following are the top real estate markets to consider:
Colorado Springs, Colorado (CO) - In recent years, this city has been one of the top destinations in the United States for renting real estate. Prices have climbed at a quicker rate than the national average and appear to be stabilizing. The local economy is expanding, and interest rates on mortgages are cheap. This is an excellent investment for first-time homebuyers. If you're wanting to rent out your house, you'll find a thriving rental market and in-demand tenants.
Tampa, Florida - Tampa Bay, Florida's second largest metropolis, is a good location for investment properties. This city has a population of nearly 4 million and numerous economic opportunities. Recently, it was labeled the "hottest" US real estate market, and it was even described as the country's "hottest real estate market" for a year. Despite the high cost of housing, the typical property value in Tampa is only $221,273.
Durham, North Carolina - Durham's property market is reviving following the 2008 housing bubble crash. The population of the city is increasing, and the economy is thriving. Demand from renters is increasing, which indicates that rental demand is expanding constantly. Durham is an excellent city to invest in real estate due to its solid economic statistics. With the addition of new apartment complexes and high-end apartment buildings, the market is growing. Investing in Durham is essentially an investment in a potential community.
Mike Bjorkman explains Despite Seattle's high cost of living, the city's housing market has been gradually increasing in recent years. This city is a popular choice for raising a family, thanks to its excellent public schools and diversified neighborhood mix. Additionally, the city is one of the greenest in the United States. Renting out a property while you're away from home is a wonderful method to earn money.
Apart from its broad economy, Dallas is one of the top cities in which to invest in real estate. Due to the city's low homeownership percentage, renting is more affordable than buying, and demand for rental units has surged by 14% in the last year. As a result, Dallas has the potential to develop into a large metropolitan region, with the addition of 50000 apartment units and single-family homes. If you're looking for a passive income stream, Dallas is the ideal location.
Land investment is another excellent method to diversify your portfolio. Apart from being lucrative, land is also low-risk and inexpensive. While many investors neglect land while investing, it is a fantastic diversification tool. This form of investing is currently the hottest trend in real estate. If you're ready to invest, these are the top 2022 real estate options. What are you waiting for, then? Get started now!
Mike Bjorkman describes Austin, TX is another excellent investment opportunity. Austin has recently seen an influx of high-paying technology employment and is on track to become the country's largest real estate market by 2021. According to an Urban Land Institute report, Austin's housing market is predicted to grow the fastest, creating excellent investment prospects in single-family houses and multifamily complexes. Home development prospects are very favorable in this metropolis due to its rapid population increase.
San Diego, California - San Diego, a newcomer to the survey this year, is primed to grow into a major force over the coming decade. Numerous biotech enterprises are located in the area, and STEM-focused universities retain approximately half of their graduates. Its sea, air, and land access points make it an ideal location for businesses of all sizes. Additionally, San Diego is particularly positioned to benefit from the rising e-commerce market. Nearly one-third of all companies engaged in drug and biologics research and development are headquartered in the city. As such, it is well-positioned to capitalize on the increasing need for warehouses and last-mile distribution centers.