The secret to real estate success is something you’ve likely heard so many times that your ears don’t even hear it anymore. If you want to invest in real estate in 2022, then you need to know the top American cities to look at.
Home prices are going up nationally, but there are a select few cities that represent better opportunities than many other metropolitan areas. Knowing which markets they are in gives you a better chance of investing in a particular hot pocket that can hopefully make you more money.
For a city long known as the capital of country music, Nashville’s economy is far more diverse than just that. Healthcare and technology are two growing sectors for a city trying to diversify its tax base. Home prices are now nearly $430,000 on average.
People moving in from other regions still find such prices more affordable than where they’re coming from, but the population growth is surging home demand. Homes here are selling in just two weeks, possibly faster than anywhere else.
Home prices are up nearly one-third from last year, and they’ve gone up over six digits since the start of the pandemic.
This city is a great place to invest in real estate in 2022. The big plus is how there are multiple kinds of real estate to look into this year. If you’d like to try more than one kind of real estate in the same market, this is the place for local diversification.
Austin benefits from strong population growth. That’s the case in nearly every city on this list, particularly as people move from expensive markets to cheaper ones looking for a higher quality of living but with lower costs of living.
Remote work makes this possible for many, but Austin isn’t just growing in population but also jobs. The business-friendly tax situation in Texas combined with Austin’s local workforce skills and education are making businesses relocate or expand here.
Amazon and Tesla are two big names in the middle of that. Building homes to rent out to families is a big business here, and multiunit residential properties are also in very high demand to house the surging population. Retail real estate also does well, with an occupancy rate of nearly 96%.
This city in Idaho was a well-kept secret for a while, but it’s not the case anymore. It’s become a top destination for those fleeing the high taxes and costs of living in California. However, the California contingent is far from the only one flocking here.
Boise’s home prices are shooting up, and inventory has the same squeeze the rest of the country does. However, home prices started off this boom from a far more affordable level. Also, as a small city in a relatively rural state, other costs of living are lower here, and that is alluring to many relocating.
Some are coming here because they can now remote work from anywhere. However, Boise does have a growing job scene in its own right as a regional center for industry, technology, healthcare, and tourism to drive a diverse base of commerce.
The surrounding nature of Idaho is also very tempting for those wanting urban comforts at home but the nurture and adventure of wilderness close by. Idaho is great for many outdoor activities, including hiking, skiing, snowboarding, rafting, canoeing, and kayaking.
Buckeye isn’t just a suburb of Phoenix. It’s actually the westernmost part of the metropolitan area, so it’s a balance of urban amenities and easy access to open country and nature on several sides.
According to some charts, Buckeye is the fastest-growing city anywhere in the United States. The population at the time of writing was just under 80,000 but growing. Even charts that don’t list it at number one frequently place it in the top five.
Highway access makes it easy to get in and out of Buckeye. Interstate 10 lets residents leave and come home quickly. It also makes it simple to get across parts of Buckeye easily, too.
This city is known for its educational system, and many of the schools are highly rated. This is a prominent selling point you can use if trying to sell Buckeye real estate to families with children or those who are planning on starting a family.
Even with robust growth in Buckeye, the national housing shortage has also impacted the local market. Home values have risen substantially since 2019 and still show some room for growth you can capitalize on.
Despite the rising home prices, Buckeye’s population growth continues to flourish because of an alluring combination. The local cost of living is lower than in places such as New York or California. Yet, the living standards are also higher.
Raleigh, North Carolina
Raleigh is part of the Triad area of North Carolina along with Chapel Hill and Durham. Winston-Salem and High Point are also nearby cities in the same metropolitan area.
Several notable universities and colleges, including the flagship campus of the UNC system, Duke University, Wake Forest, and N.C. State, employ thousands in the area which is also a hotbed for tech companies.
Since the start of the pandemic, the housing inventory available in Raleigh has gone down by more than two-thirds. This might be the biggest individual market constriction of its kind in the whole country. Buying anything here should mean being able to fix it up and hold it before selling it for more later.
Proximity Might Matter
These five cities represent very different regions of the country, and they are each a unique opportunity to potentially profit off real estate in the year 2022. While it’s very possible to invest from a distance these days, there is always an advantage to physical proximity.
Whether you live in one of these markets or are just close enough to check things out for yourself, a visit to the one closest to you might help you find some opportunities for rental income, appreciation potential, or fix-and-flips.
Investing in all of this prime Real Estate is a smart move. Aside from the fact that prices are rising, it can double your money. You can choose which city you want to spend your money in; all of the cities listed have a good location and a money-back guarantee.