So if you’ve read the previous posts you know that urban and suburban areas are the best places to pick for investing in for real estate, but now it’s time to find where the top ten real estate hot spots are in the nation.
After looking through many articles from Forbes, Business Insider, USA Today and Zillow I have compiled a master list of the top 10 real estate economies of 2018 in the U.S.
Read and get your insight started!
No. 1: California
With San Jose, Los Angelos, San Francisco and California being mentioned towards the top on many articles it is safe to say the Real Estate economy in this long-state is still going strong and a high in demand for people looking to buy and rent. According to Business Insider, the Median household income for San Jose was $110,040 in 2018, with the Median rent at $3,514. The market growth for this city was forecasted at 8.9% for 2018.
According to Forbes, smoggy but vivid L.A. is the new move for tech companies moving from the Bay Area and hosting the 2028 Olympics means more infrastructure and developments. So it is safe to see why this city was the top of their list. Don’t see it yet? Just look how much the Seattle real estate market has shot up with the increase of tech companies.
Lastly, we have San Francisco with the Median household income at $96,677 and the
Median rent at $3,413. So if you plan on investing anywhere in California, make sure you have big savings or big pockets.
No. 2: Texas
Everything is bigger in Texas! With high demand on energy tech companies pouring into Austin, Texas, the economy has grown and so has the demand for housing. According to Forbes, Texas cost of lowing is significantly lower than most other regions and it is booming in the commercial real estate business right now!
When it comes to you renting gurus, Dallas and Houston are the places to go for renting out.
No. 3: North Carolina
The city of Raleigh and Charlotte both made it on towards the top on Business Insider's list and the state has also been spotted out by the Forbes article The median rent in some areas of North Carolina range from $1,300- $1,441.
No. 4: Washington
Thanks to the fast growing city of Seattle which is having to convert to building up rather than out with all it’s growth it put the state on many lists for a strong and booming real estate market. Seattle is booming with tech ventures and that is causing for many to want to move to the Pacific Northwest. According to Zillow, the overall state home value index was $375,200, with the median rent for the whole state at $2,000. By 2018 it was a 8.1% in home value.
Similar to California, have your cash pockets ready because it is not cheap to buy or rent in Seattle. According to Business Insider the median home value in the Seattle area for 2018 was $463,800, with median rent at $2,243.
No. 5: Colorado
Colorado is also another growing state when it comes to real-estate. The mile high city of Denver is a strong cause for this as more jobs are moving to the area. You probably guessed it, tech and engineering companies are also popular in this city and state. The median home value in Denver is $376,500, with median rent at $2,056.
According to USA Today the real estate market has seen the steepest price increases in housing compared to any other. Buy now while you still can!
No. 6: Utah
As businesses continue to grow, so does the housing market. The median home price averages $360,000 for 2018.
No. 7: Tennessee
Nashville is a strong location for real estate. According to the USA Today, there are so many offers on suburban homes that they are above asking price and “overnight”. The median housing price is $358,500.
No. 8: Florida
Miami is a hot market in this state. Many big foreign buyers, actually 40 percent, buy real estate in Miami. The reason being Miami’s tax advantage and the price per square foot being very low. Deltona and Lakeland are other cities that are strong in the market as well. Deltona is the state’s strongest market and the median home price in the area is $275,050.
No. 9: Georgia Home prices have jumped in this region. Median house price is $218,350. This is significantly less than most regions
Atlanta is strong as well. According to Forbes, the city offers a great renter profile with Coca Cola, Delta, and Home Depot corporations calling it home. The cost of living is cheap too. Take it form someone who has been to this city, your money really does go further!
No. 10: Idaho (Writers Choice)
Idaho was on one of the articles lists towards the bottom but this potato state can’t be ignored! According to the Forbes article, they ranked Boise, Idaho as 13th. The description they give is quite accurate and started to become common knowledge. Many look at this city as the old Seattle before the big boom of tech giants and growing upward.
Many companies are starting to move to Idaho and Boise for cheap land, commercial property and growth opportunity. In the heart of Boise is a big college and the tax is Idaho is low compared to many states. Read this now and in 20 years I’m sure Boise will be a huge thriving city with a strong and competitive real estate market. According to Zillow, the home value index in Idaho is starting at $241,300, with the median rent price at $1,375. We shall see where it goes from here!
That’s this writers top 10! Want to read more real estate articles? Then check this out!
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