Real estate in the United States has begun to shift as many experts predict the next great economic crisis will arrive in 2020. Because of this, cities like San Francisco, Miami, and Seattle are no longer ample grounds for real estate investors. In fact, those who are looking to sell their properties in this area shouldn’t wait for the market to peak. They should sell now. Ticking big-name cities off of the list leaves room for up and coming locations like Atlanta and Charlotte to catch investors’ eyes. That is because these underrepresented metropolia continues to show employment and population growth.
Even in the great cities for real estate investment listed below, there are a couple of things to take into account. For example, though there is employment growth you must think about the fact that most jobs added to the market this year have been at the low end of the paygrade. Also, research what fuels the job market. Like in Orlando, the populace is very dependent on tourism. However, in Atlanta tech and broadcasting supply the job market. No matter where you invest in the coming years show caution. Do the research and know your city before putting big money into a project.
Employment, population, and home values are all flourishing as Atlanta positions itself among the most liveable cities in the United States. All of those positive attributes make it a great choice for real estate investors in 2019. Employment growth this year is around 1.7-2.2% with a population growth of 4%. This is likely due to the Broadcasting and tech industries choosing to set down roots in the Southern city. With this, home values have increased to 14.1% with a rental yield of 5.1% making it a prime choice for those looking put money into the market.
The Southwest landscape has been thrilling Americans on Instagram for years now. So perhaps those viral skyscapes are why Phoenix, Arizona has one of the highest population growths of any city in the United States this year. Employment growth isn’t bad either around 3.1%. This shows us that this may be a great place to invest in apartment buildings or larger projects meant to meet the influx of new Phoenicians.
According to Forbes, Orlando is the city that has expressed the highest job growth rate in the last year at 4.7%. This matched with a rental yield of 5.7% make is clear why the US city has been on the ‘Top 5’ lists for best cities for real estate investments. The population growth in the last year is around 4.8% making it a ripe grid for investment in the coming year. Do take into account, if tourism declines it could have a fast negative turnaround on the Orlando market.
Charlotte, North Carolina
Charlotte has shown impressive population and employment growth in the last 365 days, which has put it on the map for real estate investors worldwide. Rental investors are looking forward to the increase in home value in the area despite the lower than the average rental yield of 5.5%. This rings especially true with the steady job growth and population in the Queen City.
These four cities continue to impress analysts with their job growth and population expansion for the past year. As investors continue to use their cash wisely it is important to look to the statistics, and Atlanta, Phoenix, Orlando, and Charlotte are great places to start when investing in real estate this year.