{"id":154676,"date":"2023-06-30T12:48:37","date_gmt":"2023-06-30T18:48:37","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=154676"},"modified":"2023-08-06T06:33:41","modified_gmt":"2023-08-06T12:33:41","slug":"best-cash-flow-markets-under-200k","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/best-cash-flow-markets-under-200k","title":{"rendered":"Top 5 Cash Flow Markets For Less Than $200k in 2023"},"content":{"rendered":"\n<p><span data-preserver-spaces=\"true\">Where have all the&nbsp;<\/span><span data-preserver-spaces=\"true\">cash flowing<\/span><span data-preserver-spaces=\"true\">&nbsp;properties gone? With high interest rates, low inventory, and purchase prices not budging, it\u2019s becoming harder and harder to find your margins. It\u2019s even harder to find a cash flowing property when your investment budget is modest. That\u2019s why we loved Dave Meyer\u2019s&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.instagram.com\/p\/Cs6wrI5LBix\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">recent Instagram post<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;covering his top five cash flowing market picks with average purchase prices under 200k. Sometimes all you need is someone to help you stop boiling the ocean when you\u2019re looking for your next deal.<\/span><\/p>\n\n\n\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC1460396404\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">Meyer looked at average purchase prices but also reviewed a few other positive financial indicators in each area to support his recommendations. We pulled those together along with a few more reasons these markets are worthy of further investigation. Of course, nothing is all roses, but there are sure to be diamonds in the rough here!<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">1. Syracuse, New York<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1292\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york.jpg\" alt=\"syracuse new york\" class=\"wp-image-154687\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york-300x151.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york-1536x775.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/syracuse-new-york-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Why we like it:<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Median purchase price: 196k&nbsp;<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Average rent: $1,500\/month<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Rent-to-price ratio: ~0.80<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Home prices are still up 11% YoY.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">New technology companies are moving into the area.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Good for added value, buy and hold investors. According to a recent study, only 27% of Syracuse housing is in \u201cgood or excellent condition,\u201d which means investors have an opportunity to buy low, fix up, and enjoy both forced and market appreciation.&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">2. Lansing, Michigan<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1292\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan.jpg\" alt=\"lansing michigan\" class=\"wp-image-154678\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan-300x151.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan-1536x775.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/lansing-michigan-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Why we like it:<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Median purchase price: 191k<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Average rent: $1,000\/month<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Rent-to-price ratio: 0.73<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Fastest growing \u201cMidwest-metro,\u201d according to a study done with U.S. Census data, many moving from the Detroit area.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Michigan State University has reported off-the-chart enrollment over the last few years, bringing record levels of young professionals into the area.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">3. Scranton, Pennsylvania<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1292\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton.jpg\" alt=\"scranton pa\" class=\"wp-image-154685\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton-300x151.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton-1536x775.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/scranton-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Why we like it:<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Median purchase price: 176k<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Average rent: $1,200\/month<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Rent-to-price ratio: 0.68<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Buyers are getting properties for 3% under list price, which means you can probably find a deal, helping to offset the lower RTP.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Home prices may continue their upward trajectory. According to Zillow\u2019s Home Value Index, Scranton home values are up 4.8% year over year (March saw a 1.5% increase month over month alone).<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">4. Toledo, Ohio<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1292\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo.jpg\" alt=\"toledo ohio\" class=\"wp-image-154686\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo-300x151.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo-1536x775.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/toledo-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Why we like it:<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Median purchase price: 173k<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Average rent: $900\/month<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Rent-to-price ratio: 0.52<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Excellent population growth.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Lead indicators like inventory, new listings, and days on market suggest that prices may keep going up. This is a great location for long-term holds.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Strong rental demand and a relatively low vacancy rate.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Diverse economy (manufacturing, healthcare, education).<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">5. Springfield, Illinois<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1292\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois.jpg\" alt=\"springfield illinois\" class=\"wp-image-154684\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois.jpg 2560w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois-300x151.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois-1536x775.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/springfield-illinois-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Why we like it:<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Median purchase price: 171k<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Average rent: $1,300\/month<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Rent-to-price ratio: 0.65<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Strong fundamentals (low unemployment, fair wages, short commutes, etc.) and strong rent.<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">AirDNA ranks Springfield as the fourth best location to invest in STRs in 2023 based on rental demand, growth, cash flow, and regulatory risk (2 out of 10).<\/span><\/li>\n<\/ul>\n\n\n\n<p>For our full analysis of the top cash flow markets in 2023, read this article <a href=\"https:\/\/www.biggerpockets.com\/blog\/best-real-estate-markets-for-cash-flow\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n\n\n\n<p><em><span data-preserver-spaces=\"true\">Rental price data from&nbsp;<\/span><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.zillow.com\/\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Zillow<\/span><\/em><\/a><em><span data-preserver-spaces=\"true\">.<\/span><\/em><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_1064d9c9f74c06baea605868a3e7504c\" class=\"visibility-group alignwide  hidden\">\n        \n\n<div id=\"hero-block_74ee98a788c784413e449b67118738c1\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find the Right Agent, Close the Best Deal<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:18px\">Step #1: Use Agent Finder to match with top <em><strong>investor-friendly<\/strong><\/em> real estate agents to help you find, analyze, and close your next deal.<\/p>\n\n\n\n<div id=button-custom-event-block_83b289d48ed93cdf924ba40083441946 class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Agent Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/best-cash-flow-markets-under-200k&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/08\/Marketplace-Blog-Blocks-Agent-v3.png\" alt=\"investor friendly real estate agent\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color 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Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/best-cash-flow-markets-under-200k&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>These markets not only are cheaper to get into but will also give you the best chance at cash flow. Here are the top five.<\/p>\n","protected":false},"author":613680,"featured_media":154691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8,7119],"tags":[],"class_list":["post-154676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/154676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613680"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=154676"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/154676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/154691"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=154676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=154676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=154676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}