The real estate sector is quite lucrative, especially for the last 2 years, as there has been experienced a boom in demand for properties fueled by the booming economy. According to the first quarter of 2019 residential real estate investment rankings, here are some cities that you may find favorable and lucrative.
The Indianapolis commercial and residential real estate market are booming, with the home price appreciation rates hitting 12.5% between last year and the first quarter of 2019. The city also expressed the highest return on investment as compared to risk, thereby proving a preference for cautious investors.
Cincinnati’s home prices jumped up by 8.4% towards the end of last year and the better part of this year. With a median population of about 300,000 people, Cincinnati is quite famous among the middle-aged population group with a median household income of about $39,000. Combined, these factors make Cincinnati a favorable spot for investments in the residential real estate sector.
Charlotte in North Carolina is another city with such a green light as far as real estate investments are concerned. Charlotte’s home prices this year shot up by over 8%, accompanied by an average of 2% household income pay rise. The favorable economy among residents, as experienced by a 2.6% job growth, makes it possible for locals to afford real estate properties.
Orlando is another favorable city where home prices shot up by 10% in the year so far. The purchasing power of the locals has also substantially risen following a 4.7% job growth. With Orlando being a major hub in the East Coast, real estate enthusiasts have found it favorable for both commercial and residential properties. The city has attracted thousands of job seekers who have successfully secured jobs and thus demand for houses has shot up substantially.
Kansas City is one of the best cities in America to own properties today. The suburban Kansas City, being the second most populous part of the entire state, is particularly popular for a range of social and economic activities that attract middle-income earners. The property sector in Kansas City is booming, given the fact that values for homes shot by 11.5% over the past year.