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Top Locations to Purchase Real Estate In Palm Spring

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Real estate remains one of the most appealing assets to investors due to its recurring income potential and value appreciation over time. Many places in the United States are experiencing huge booms in demand for housing, which is an amazing opportunity for real estate investors.

As long as demand exists for housing, whether rental or homes for sale, real estate will always be a profitable venture. However, you must research to know the best places to purchase real estate in 2021. Let’s discuss some of the best places to buy real estate to ensure you get the highest return on your investment.

Palm Spring Real Estate

Palm Springs is another great city to invest in real estate considering its rate of return for both Airbnb and traditional rentals. Palm Spring real estate's rate of return was estimated to be above the national average in a 2020 study. The city is also a popular destination for tourists from all over the country, mostly due to its year-round sunny weather.

Considering this, investing in Airbnb in Palm Springs is recommendable, although there are set legal operating requirements that one should observe. The city also has unique luxury neighborhoods that one can purchase real estate or develop for rentals or sale. Click here to read more.

Boise in Idaho

Boise is recognized as the best place to invest in real estate in the US. Boise's supply and demand for housing has continually driven home prices up. One of the reasons why Boise is perfect for real estate investors is that it has steady population growth, and its job market is expanding.

Idaho's capital city also has a low unemployment rate of only 3.5%, meaning that rentals are a perfect investment. These factors, coupled with the low cost of doing business, attract more people to the city, which is an opportunity for real estate investors.

Purchase Real Estate in Dallas

Dallas real estate is another viable investment considering its high housing stock availability. The city also boasts a higher rental rate than other cities with the same diverse economy. This is because Dallas has a low homeownership rate as people view renting as more affordable than owning their home.

It is also estimated that 350 people relocate to Dallas every day, making the demand for rentals to increase. The metro area is continually growing, and the same also applies to its demand for rentals.

Atlanta in Georgia

Another viable place to purchase real estate is Atlanta considering that the city experienced a 14% increase in population. The city also experienced a 3.6% job growth in the year 2020, which attracted about 250 new people daily from other towns.

High population and job growth are two signs of a healthy real estate market, and Atlanta boasts both of them. Properties start at $70,000 with a median rental of $1,500 per month. Considering these factors, it is clear why Atlanta is one of the best places to buy real estate in the United States.

Buy Real Estate in Austin, Texas

While other cities depend on hospitality and tourism industries for their local economy, Austin stands out for having a diverse economy. This is why Austin is recommendable as one location to invest in real estate. Other cities appeared to struggle as their economies relied mostly on tourism and hospitality, industries which were hit the hardest during Covid-19 lockdowns.

Austin is one of the best cities to invest in real estate because it has a record low unemployment rate of only 6.5% as of September 2020. Although there is a huge demand for properties in this location and prices keep on surging, Austin's real estate remains averagely affordable.

Austin's median property price is $631,950 as of data collected in 2020, with rent price being $326 per square foot. The average rental income in this area is $2,036 with cash on return of 1.6%. Austin's property prices are estimated to have an annual appreciation rate of 7.7%.

Boston in Massachusetts

Boston is the 20th most populated city in the United States, it's no wonder why the city ranks as another best location to purchase real estate. The city of Boston is commonly referred to as a "multitalented metro" due to its diverse economy. Boston leads in various industries, including healthcare, education, finance, and biotech, among others.

Despite being a relatively expensive city to do business and invest in properties, Boston will likely continue attracting residents in the future, most of whom will be renters. The city has many educational facilities, among them top universities, which make the city appropriate for investors in rental properties.

Considering these factors, it is evident why the city has a high renter population of about 67% of the total population and a low vacancy rate in rentals. The median real estate price in Boston is $1,040,900, with the rental price being $789 per square foot according to 2020 housing data. The annual real estate appreciation rate is about 6.9%, with a cash return rate of 1.6%. 

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