A lot of people on BP have been asking about the hot markets to invest in, so our team thought to put together a list for the investing community!
These 7 cities are showing a need for speed when it comes to being hot on the market, and there’s no show of slowing down in the near future.
In the last 5 years, Atlanta has been a hotspot for creative arts. From being home to some of the hottest filming locations to becoming the hometown to a variety of tasteful cuisines and culture, it’s an investor’s dream spot. In 2020, sales prices increased by roughly 16% compared to the prior year, bringing in renters moving from all over the world for new job opportunities. Compared to neighboring cities, 50% of Atlanta’s population is made up of renters.
Home to the first hotel chain and self-serve grocery store, it’s no shock that Memphis has made our top 7 list. With a youthful and diverse population, the music city is home to some of the most popular Fortune 500 companies (e.g. FedEx, AutoZone, Amazon, and more). The job opportunities alone bring in new residents looking for career growth.
Rich in historical passion, Charleston is more than old money. It’s ranked as one of the country’s best cash flow markets, bringing in a surplus of tourism and pivotal rental opportunities. From being a vacation hotspot to constantly rotating through a steady real estate market, the town consistently brings in an overturn for rentals. From 2008 to 2010, Charleston’s population growth reached an 18.5% increase.
As the 3rd largest city in Florida and 48th most populated city in the US, Tampa houses nearly 400k residents in the city alone. With a real estate market as hot as this city, the demand for rentals is at a constant high, leaving it difficult for first-time homebuyers to compete. Average rent in the city, as of 2020, runs between $1,000 and $1,300, making it one of the most affordable rental locations.
Jobs are plentiful in this North Carolina city. Not only is the city home to the state’s university, but it’s home to one of the largest biotech research parks in the world. 70% of Raleigh is zoned for residential use, making it a more affordable rental city compared to other major cities. In 2020, rental rates saw an increase of roughly 2% and have grown by 13% in the last 3 years.
Nicknamed “Music City,” Nashville is home to some of the most well-known talent in the industry. It’s sort of the Hollywood of the South. The real estate market is robust and the city has some of the highest inbound growth in the USA. 46% of the residential housing units in the metropolitan area are considered renter-occupied.
Home to nearly 695,000 residents, Boston isn’t only the capital of Massachusetts, it’s the largest city in the state. The economy is filled with diversity and is fast growing due to its modern style, location, and history. The city hosts a surplus of Fortune 500 companies and attracts over 21 million visitors each year from tourism alone. Built for both short and long-term rental properties, the return on investment is consistently increasing and home to many Airbnb rentals.
Comment if you have any questions or share any tips that you might like to add !
Glad to see Boston is on your list! Thank you for sharing this.
Memphis as always!
More than 90% of the economists and real estate experts surveyed by the Tampa Bay Times last year expected the Tampa real estate market to meet or exceed the performance of the national housing market this year. While 2020 was a good year for real estate in Tampa, 2021 is predicted to be even better. According to the Tampa Bay Business Journal, the housing market in the Tampa metro is expected to remain hot heading into 2021.
Boston actually surprised me on this list, but I'm glad to see it there. I've checked into Memphis many times. I want to develop a team down there so I can invest there. If anyone is in the area id be glad to figure something out