It is the ideal time to start planning for your next property investment in 2019. However, before you do that, you need to know the best states for this this type of investment. The emerging trends report in real estate released by the Urban Land Institute helps potential investors to understand things like development trends and capital markets in the USA. The real estate data provided in this article can help you understand why these are the best states to do property investment.
The real estate market in Dallas moved up from 5th position to 1st in the year 2018. It did not come as a surprise because the low cost of living led to the growth in population. Additionally, the cost of doing business in Dallas is low, leading to steady growth in the labor market. Due to these factors, there has been increased demand for rental houses in Dallas. Since the population is growing fast, the supply of houses can keep up with the demand. As a result, the supply of new construction makes investment properties more profitable. Another option to consider is Austin, Texas. The education rates in Austin are above average; therefore, many college students relocate there. Building new homes austin seems like a good idea to accommodate the students and the growing population.
Getting into the real estate business in New York is expensive, but worth it. In the USA, most people consider New York to be an international housing market for foreigners that are willing to invest in property. If you are an investor that loves staking high, New York can be your preference. Due to the high costs, new construction in New York is hindered. However, the local board, city government, and construction unions have come together to ensure that new supply is increased.
Raleigh/Durham, North Carolina.
The balanced housing market in the city has enabled property investors to earn good money over the years. In 2019, Raleigh/Durham is expected to experience a rise in the employment rate. The real estate industry in this state is growing because of the universities in the area. There is a rise in the number of new residents and people under the age of 44 years. Therefore, property investors that do not mind renting out houses to millennials enjoy good returns. Additionally, the fact that there are many job opportunities and housing is affordable makes the real estate business successful.
For the third year running, Orlando has been in the top five lists of the best places to invest in real estate. Owning an investment property is an excellent idea. Orlando is experiencing a population growth rate of 7.2% because of the beautiful scenery, spectacular weather, and improved quality of life. With annual job growth of 4.4%, the city is becoming a business hub for the millennials who are good at their specific fields. If you are a first-time investor that is afraid of taking huge risks, Orlando is the ideal market for you because it is more affordable.
In Nashville, there is a high demand for short and long-term rentals. With a population of more than a million residents, Nashville has the lowest unemployment as compared to any other metropolitan area in the USA. Due to the strong job market, many people opt to move there permanently to be closer to their places of work. Additionally, since it is a music city, many tourists love visiting. Therefore, it is a good idea to invest in short-term rentals to accommodate tourists.
Investing in real estate is a brilliant idea, but you need to be very careful about the state you choose. The moment you invest without researching a state, you might end up losing your money. To be on the safe side, go through the benefits of each state in this article, and you can be in a better position to make a decision.