If you are a real estate investor, you need to read this. That’s because you’re about to find out the hottest real estate markets right now in the United States. If you are plotting your next move in your investing efforts or starting out, this will be vital information that will come in handy.
It’s always a good idea to consider which market will work best. Especially if you are aiming for a specific return on investment. If you want information on getting your next property in a hot market, TeifkeRealEstate can help.
Let’s get started now with the list of real estate markets that are hot right now.
Phoenix, Arizona
If you’re someone that doesn’t mind the heat (and we mean the weather), Phoenix will be the perfect place. This may be great for retirees who plan to reside permanently or part of the year. It’s also great because it’s a driving distance away from Las Vegas and the Grand Canyon.
With median home values tipping the scales at $410000, which is an increase from $85000 last year, you can’t beat that. Especially if you are planning on landing single-family homes and renting them out.
Austin, Texas
This city is one of the fastest growing in the country. There are so many factors as to why the Texas capital city is a hot real estate market. One, the tech industry is creating jobs and many people are taking their talents from Silicon Valley to here.
Property taxes are non-existent in Texas. So it can really help your bottom line if you’re making investing in-roads. This multi-cultural city has a downtown that comes alive at night. This can be great for younger people and even small families.
You’d be hard-pressed to find a market like this anywhere in the country. People are moving to Texas from other parts of the country because the cost of living is crazy cheap. Everything is bigger in Texas and it might also include your return on investment.
Tampa, Florida
Like Texas, many people are flocking to Florida. The Sunshine State has long been the go-to place for many snowbirds. But many people across various demographics are making the trek south as well.
Tampa is one of the cities that is close to the water. Plus, if you have a family, Orlando is about two hours away. Something to think about when you want to take the kids somewhere fun.
Yes, Tampa has great family friendly places to check out too. Nevertheless, the warm weather year-round is one reason why people are coming here. Not only that, the housing values have increased by $50k in the last year.
The local market may be heading towards a seller’s market. If you got the cash, you may be prepared to snatch up properties at listing prices that may be a bit up there.
Nashville, Tennessee
The Music City is showing promise as of late. What will be music to your ears is that there are low taxes that will benefit property owners. There is also an exciting nightlife that may rival Austin’s.
Nashville is a central location and won’t be far from the Smoky Mountains. You also won’t be doing a lot of driving if you’re planning on visiting Memphis or good ole’ Rocky Top (Knoxville). In the previous year, a lot of homes were sold as quickly as they were listed.
If you need to purchase property, get it while the getting is good. Because they usually fly fast off the market. The sooner you spot something you like, the better.
Indianapolis, Indiana
Indianapolis is right in the heart of the Hoosier State. It’s also the capital city as well. Nevertheless, it also has a strong local economy.
This city has 800000 people and counting. It also has a low home value median, which can be good if you don’t want to spend an arm and a leg on homes. If you’re a property investor looking for a hot, but affordable market – look no further than Indy being the place to be.
Charlotte, North Carolina
The state of North Carolina has long been appealing to many. One of the cities that is a popular destination for new homeowners is Charlotte. The education system and local economy are strong and it’s become one of the best family-friendly places.
Since it’s a seller’s market, it may be worth noting that houses are being purchased above their asking price. If you have the money to get a deal done, why not give the Queen City a shot? Plus, North Carolina’s climate is pretty reasonable throughout the year.
Nothing too hot or too cold. Just in the middle. Not bad for a place where the real estate market is looking pretty good at the moment.
Las Vegas, Nevada
Sin City is a great place where real estate investors get an excellent ROI. They won’t have to go to a casino to score big. They can purchase apartment buildings or single-family homes (albeit above market value). It’s a tourist destination, but the local economy is heading back up after the pandemic.
Nevertheless, the median home value is $385000. Not too cheap or expensive. It’s right in the sweet spot.
Even better, you have residents that can check out The Strip, take a weekend trip to the Grand Canyon or even California.
Final Thoughts
These are the seven hottest real estate markets in the United States right now. You might be a real estate investor looking for the next property opportunity. You’d be hard-pressed to find any other market quite like the ones above.
Remember to do your due diligence as you investigate properties that you’re interested in. The market may be hot right now, but you might find a place that might not be ideal. And it could be a place that won’t be favorable for your ROI.
Search wisely and you’ll find a property that you’ll enjoy renting out.
