Investor · Santa Clarita, CA · Member since 2015 · 40 posts · 34 votes
What are the hottest states to invest in rental property right now? People seem to moving out of California to Texas, Idaho, and Colorado. Are there any other states that are hot right now?
What are the hottest states to invest in rental property right now? People seem to moving out of California to Texas, Idaho, and Colorado. Are there any other states that are hot right now?
Californian here to defend my state!
It seems like Californians are flooding out of CA into Texas, etc., because there are SO MANY OF US! For example, anecdotally, Boise, ID is overrun with Californians. Do you know how big Boise is? 229K people! California's population is 39.5M. So a few Californians moving to Boise make it feel (to residents of Boise) like an exodus.
Raleigh NC real estate market trends indicate an increase of 10.7% in the average sale price since last year. The average sale price per square foot in Raleigh is $145, which is an increase of 4.3% year-to-year.
In the Raleigh, Durham and Cary areas, we have an extremely difficult time keeping inventory.
Idaho, Texas and New Mexico seems to have a high percentage of people moving in during this pandemic. This City-to-suburbs-trend seem to be noticeable in other states too.
It really depends on your focus, are you a wholesaler, buy & hold, flipper, or multifamily. There are deals to be made almost everywhere. Sure some places have smaller populations so the deals are scarce, but here is my list of states:
I'll keep this short, so when I come across questions like this hopefully there is something to back up the data. When you consider these cities in the list below or your own take a look at population growth, median household income, median house value, and changes in crime levels. You can find this data free online and ask yourself: If population has decreased since 2000 is that the city where you want to invest? Has the median income grown at least 30%, and the same goes for home value which should be growing at similar or higher rate. Crime is where you want to see that going down, of course.
All together you want to analyze your market and really understand where to buy and does that market support a good rental portfolio.
Top 10: Cities Best-Positioned to Recover From Coronavirus
(Note: These are alphabetically sorted—not listed in order)