One of the most important factors when investing in real estate is deciding on the market. Orlando is arguably the best place to invest in real estate, coming in at number one on Forbes Best Place to Buy a House. Orlando is considered the best place to buy a home because of its explosive population growth which is 252 percent faster than the national average. The city also has a high percentage of renters with 65 percent of people in Orlando being renters. Orlando is a large tourist destination because of Disney World, and Universal Studios The average home sells for 231,000. The city created 45,000 new jobs last year.
Austin Texas is another strong real estate market to invest in. The job growth in Austin has been the strongest in the nation with an increase of 3.2 percent. Austin is also the regional headquarters for big companies such as Dell, Apple, and Home Depot. The population growth in Austin is strong with the estimate that by 2050 the population of Austin will double. The average cost of a home is 455K. This is a 13.8 percent increase from last year. The growth in housing prices in Austin is projected to continue to be strong.
Charlotte North Carolina real estate market is expected to grow. Charlotte has a very strong economy being named by CNBC as the best place to start a business. Charlotte is a great place for finance jobs. Having the second most banking assets in the nation. Only behind New York. The median home price is 252,000 and the median home price is increasing by 5.3 percent a year. The renter’s market is strong with 47.73 of people renting. The median rent per month is 1,259 dollars per month.
Jacksonville Florida is a strong market to invest in with a 14 percent population increase over the past two years and an estimated population growth of 39.21 percent over the next ten years. The average home price in Jacksonville Florida is 189,000. The Jacksonville real estate market has appreciated by 31.84 percent. Jacksonville has four of the fortune five hundred and 13 of the Forbes Global 500. Plenty of renters are available in Jacksonville with 45 percent of the of the population renting. Jacksonville market will continue to grow as it is the largest city in Florida.
A small but emerging market is Huntsville Alabama. Huntsville is extremely attractive due to the fact that it has the second lowest property taxes in the nation. The average housing price was 240,000 in 2020. The job market in Huntsville is strong with a projection of 25,000 new jobs by 2023, and an unemployment rate of less than three percent. Huntsville is extremely affordable to live in meaning that people can now spend more money on their rent and houses. Overall investing is one of these real estate markets is a very strong investment that could pay off great dividends in the long run.