Real estate is currently in strong demand due to record low mortgage rates as well as the desire for a more stable asset class. In this discussion, we look at the best cities to buy real estate in America today. Real estate continues to be a business’s favorite asset class for building wealth because of its stability and income.
Cities such as New York City, LA, and Washington DC are jam-packed. Prices are high and people are tired of the constant traffic. More and more people want more space too because of the coronavirus. As a result, more and more people are moving to lower cost and lower density areas of the country.
To find out the best cities to buy real estate from, let’s take a look at the top states for buying real estate in the new decade through migration and appraisal. The following has been ranked based on the combined ranking of the two variables. South Carolina came out first, followed by Vermont, South Dakota, Tennessee, etc. sbobet
- Los Angeles
Los Angeles seems like everyone’s favorite city to invest in real estate right now and for good reason. The catchphrase is “Keep Los Angeles Weird,” which sounds a lot like San Francisco. Los Angeles has a deep talent pool. The city has a unique and high-quality lifestyle. Furthermore, the state does not have a state income tax. Lifestyle is real estate at affordable prices. Finally, Los Angeles has a strong commitment to business and real estate expansion.
On the downside, traffic is an ongoing problem and housing affordability pressures are mounting. Los Angeles has the highest projected population growth rate for the next five years among the 80 markets that ULI analyzes. In case you are searching for top real estate agents in Los Angeles, this company can be your top choice. Michael Robert Property has excellent reviews.
- Raleigh / Durham #2 (ULI ranking) / North Carolina #8 (FS state ranking)
Raleigh/Durham, ranked number two overall, has seen impressive investments in the suburban office and multi-family sector.
The market concentration of educational institutions Duke University, University of North Carolina, North State State University, and several smaller colleges has made this area a center for intellectual capital.
Next up, there’s the Research Triangle Park, which is branded a technology mecca with more than 89,000 tech jobs. With tech jobs accounting for 10.9 percent of the employment base, the Raleigh/Durham area ranks third behind Silicon Valley and San Francisco in share of the tech industry, according to a recent Tech Cities report.
- Nashville #3 (ULI ranking), Tennessee #4 (FS state ranking)
Tennessee is the #4 best state for buying real estate and Nashville is the top city prospect. The local atmosphere is vibrant, with strong hopes for continued investment and development.
On the corporate front, Nashville has Alliance Bernstein headquarters, Amazon operations center, and the dental product expansion company Smile Direct Club. There are about 8,000 new jobs associated with these companies.
- Charlotte #4 (ULI ranking), North Carolina #8 (FS state ranking)
Charlotte rose from ninth to fourth in the ULI survey as the city attracts technology and manufacturing firms.
The city has been the center of the banking sector for more than 20 years considering that the city is the headquarters of Bank of America.
Charlotte (with just 0.8 percent of the US population) attracted 1.2 percent of the country’s real estate investment in the three-year period from 2016 to 2018 and rose to a 1.5 percent stake during the first half of 2019.
- Orlando #5 (ULI ranking), Florida #9 (FS state ranking)
Orlando captured 1.3 percent of 2016-18 national investment volume, held steady at 1.2 percent at the start of 2019, and, like Charlotte, far exceeds 0.8 percent of the US population.
The ULI survey highlights Orlando as seventh in overall real estate prospects, ninth in development/redevelopment opportunities, and 17th in home redevelopment prospects and local expectations of investor demand in 2020.
Not surprising, given the projected 71,000 population increase of
over the next five years, this market is highly rated as a multi-family “buy” in the ULI survey, with offices also being viewed as a “buy” by 50 percent of respondents. Local experts anticipate that the expansion of the rail line from Miami currently under construction will boost the already strong tourism flow.