DALLAS – Buying a rent house? Want to try a single-family fix and flip?
Here are the top 10 cities you should consider for you investment, a new study shows.
Grand Rapids, Mich. is the No. 1 market for buying single-family homes for investment, but three Texas cities were in the Top Five as well, according to the report from HomeVestors and Local Market Monitor.
The fourth-quarter Best Markets Top 10 List, showed Orlando, Fla. coming in second. Texas cities remain strong, with San Antonio (3), Dallas (4) and Austin (5) rounding out the top five.
The data is ranked based on cities with increased job opportunities in the past year. The overall national average increase was 1.9 percent.
“Due to a shortage of home construction since the recession, local housing markets with a strong economy will experience more demand than supply in the next few years,” said Ingo Winzer, president and founder of Local Market Monitor. “This will create higher priced homes and rising rents.”
“In the last year, prices in all of the top 10 housing markets have increased by at least six percent,” said David Hicks, HomeVestors co-president. “Prices will continue to go up, which is one of the reasons HomeVestors’s “We Buy Ugly Houses” continues to become an excellent option for independent investors.”
The remainder of the list includes Portland, Oregon (6); Seattle, Washington (7); Charlotte, North Carolina (8); Salt Lake City, Utah (9) and Fort Lauderdale, Florida (10). While housing prices continue to increase, cities such as Portland and Seattle present an opportunity for investors because of their increase in income due to the expansion of high-value industries.
The fourth-quarter 2015 Best Markets Top 10 list for real estate investing includes:
1. Grand Rapids, Michigan
2. Orlando, Florida
3. San Antonio, Texas
4. Dallas, Texas
5. Austin, Texas
6. Portland, Oregon
7. Seattle, Washington
8. Charlotte, North Carolina
9. Salt Lake City, Utah
10. Fort Lauderdale, Florida