What do location and time have in common? They both affect the real estate market.
Investing somewhere new is no small feat, especially after a few pandemic years.
If you are looking to invest in new properties, make sure you know what's hot this year. To help you narrow down your search, we've compiled six of the best places to invest in property.
Best Places to Invest
Even though many places offer value to investors, there are more factors to consider as you prepare to invest in a new area. Although we're biased toward Oxford and Lafayette County in Mississippi, here are the best places to invest in 2022.
Not only is the population and job market growth in Boise remarkable, but it is one of the best long-term real estate investments in the U.S. Where most real estate markets suffered significantly from the pandemic, Boise continues to grow, with a low cost of doing business. Plus it's #11 on the U.S. News Best Places to Live list.
As one of the all-time best places to invest, this city boasts a robust oil and gas industry that offers continuous employment opportunities. It is also the third most concentrated city, behind only New York and Chicago.
Fayetteville has experienced tremendous growth both in the housing and job market in recent years. The population has increased by almost 15% and home prices are hovering around 10% below the U.S. metro average. This means Fayetteville has remained in the top 5% of the country for both metrics.
Green Bay, Wisconsin
Green Bay has a very low rental vacancy rate and with a projection to increase the number of households in the area, it makes for a very ripe market. A that shows the steady growth and an estimated 16,000 new properties by 2040. Even now, this housing market is struggling to keep up with the demand.
Since the housing market has been inflated, many people who would have bought a home opted to rent instead. In fact, it's ranked #6 for best rental income growth so investing in this city is a very lucrative opportunity.
Greenville, North Carolina
Greenville's home prices are lower than 75% of the rest of the country's, while the rental prices remain in the upper percentile of the U.S. This means that investors can expect a very good return on investment. Also, for those beachfront properties in coastal areas, short-term rentals are on the rise creating an even more enticing offer.
Ready to Invest?
Before you invest, make sure you know how to determine if a place is a good investment.
Once you've narrowed down where you want to go and ensure that the residence is a sound investment, you can use our free rental price analysis to ensure you are getting a good return on your investment.
Whether you're just starting out in investing or you're a seasoned vet, now that you know the best places to invest in 2022 you're ready to hit the market!