Best Areas to Invest in 2020
When it comes to investment possibilities, 2020 is one of the greatest years for new players to enter the real estate market. With the outbreak of a novel COVID-19, the prices for the once pricey property plummeted. So, with the new market conditions, most individuals associated with investments find dozens of possibilities to try out. If you have never tried real estate investment before, it might be just the right time to start out.
For that sole reason, we’ve compiled effective recommendations from real estate investors on the best locations and fields to invest in. If you’ve ever thought about the best cities to invest in, we will help you to find a place of your dreams that can satisfy even the lowest budgets. Take a closer look!
Alright, let’s start with the basics that show positive returns in the long run. Austin, Texas, has long been associated with stability and a sizable property market. According to market dynamics, the reasons to invest in real estate in this city are far-reaching. Not only Austin is the center of an impressive metropolitan area, but this city is revitalizing in terms of return of high paying tech jobs.
Even though Austin is still regarded as quite a young city, a trend to invest there is on the rise among experienced investors. The prices for real estate there vary, with a median rental price reaching $1,800. Except for these promising numbers, median property prices range from $200,000 to $300,000. All those reasons considered, Austin seems to be a promising and popular investment area, even if you’re a newcomer in this niche.
Seattle only seems to be quite a complex place with an overcrowded market of real estate investing options. Based on our analysis, Seattle is one of the best places to invest in, with the only condition that you can afford rental prices there. Even though Seattle is among those places with an overheated market of real estate, it offers solid returns in the long run.
Thanks to quite impressive economic prospects and below-average median returns, Seattle is the city to choose if you’re confident about your investment. The median rental price equals $2,100 in 2020, eventually making it a top destination for solid investing. In case you want to invest in the rental housing market, you should also be aware that nearly half of all settlements are rent-owned. The incorporation of these factors makes even an average investment in Seattle a great decision to make.
Those entrepreneurs and investors looking for places with an ambitious future should consider Phoenix, Arizona. This area continually shows the growth of price appreciation and the average growth of demand for property. While the national average for real estate prices, Phoenix shows quite a promising forecast. To purchase a home there, be prepared to pay no less than $270,000.
As for other aspects that make purchasing in this city so favorable is the median growth of prices over the last years. According to independent estimations, the prices went up 17.8%, quite a huge number, when it comes to rental property growth in this city. In case you’re up for focusing on something different than a national average statistics, Phoenix is a top choice due to promising forecasts and continuous growth of housing prices.
Alright, who can disagree with the fact that Denver is one of the top destinations to purchase a home there? This area is associated with high migration rates, coupled with the low unemployment rate, which peaks at 3%. Denver is a top city to think about property and housing since the average cash flow in neighborhoods is too tempting, even in terms of real incomes of the population.
According to the open-source analyses, Denver is in the top 10% of all American cities in terms of real property appreciation. With an average price of renting a home, which is $1,700, Denver is a promising investment opportunity. Thanks to those market conditions, where a reasonable price to buy a home is a reality, Denver is rental heaven for both investors and in-state migrants.
Last but not least, in our list of the best cities for investment in the United States is Birmingham, a city located in Alabama. A real reason behind including it on our list is a unique market condition. In particular, this city is a unique case since nearly 60% of all rental homes and single-family ones. If you’re looking for a home in Birmingham, the odds are high that you’ll encounter dozens of single-family options.
The median property rental prices equal $1,000, whereas the same forecasts estimate 3% increases daily. Another convincing reason to take a look at property in Birmingham more seriously is that this city has become a leading banking center. At the same time, Birmingham is home to various colleges and universities, making its median property prices skyrocket over the last years. The combination of all those convincing merits makes Birmingham, Alabama, a worthy destination, especially considering such a cheapness of property there.
Bonus: Consider Wise Alternatives
Like it or not, but the housing market is quite a complex niche that usually requires lots of funds to purchase the right home and make the most of it. One of the best alternatives we’ve seen so far is to invest in ambitious educational projects, both in the United States and globally. These projects offer solid returns and comprehensive business plans. For instance, you can easily invest in powerful education projects, such as:
Since a dazzling array of educational projects emerge daily, be certain to get acquainted with their visions and business plans. Even though the property and rental home markets are exciting, considering other alternatives is a great idea for all investors.
Like it or not, but the United States is full of cities that deserve your attention if you’re an investor. From the recommendations given by effective investors with a decent background, we are confident that the mentioned above cities are worthy investments to make in 2020. Even in the pandemic conditions, investing there is a great idea for all people who enjoy solid returns. Alternatively, we’ve mentioned educational projects’ funding as one of the most well-rounded and balanced options to make in the United States. Best of luck to find a niche that interests you the most. Best of luck!