The Next Big Thing: Fast-Growing Real Estate Markets in America
Real estate markets are constantly changing, with some areas growing and others shrinking. Some of these changes happen so gradually that they’re not always visible to the naked eye. But if you know where to look, it’s possible to see which cities are coming up —and then invest accordingly.
How to find the next big thing in real estate
Find the correct location. The best way to find the next big thing in real estate is by looking at where other people have been successful. If you’re looking for a good market, consider what cities are experiencing growth and investment activity.
It’s important to note that the fastest growing real estate markets aren’t always the best places to invest in real estate. The most attractive markets are often the ones that have already peaked. These areas can be overpriced and saturated with investors ready to unload their properties at any cost.
Look for properties that are undervalued compared with their actual value. An excellent real estate agent can help you find properties that might be undervalued or overlooked by others due to their location or condition–but could still make an excellent investment if properly renovated or upgraded.
The next big thing in real estate is already happening.
It’s not a thing, and it’s a place. It’s not a place, and it’s a market. And it isn’t even an investment- all these things at once!
Still, we’ll break down what the next big thing means for investors and homeowners alike so that you can make informed decisions about where to invest your money or which neighborhood would suit you as soon as possible (preferably before anyone else).
The top 5 fast-growing metro areas to invest in
1. Houston
Houston has many Fortune 500 companies, including Chevron and Shell Oil Company. The city’s diverse economy includes energy, healthcare, transportation and logistics, manufacturing, international trade services, and financial services sectors, which are expected to grow at double-digit rates over the next five years (Bureau of Labor Statistics).
2. Austin, Texas
Austin is one of the fastest-growing cities in America. This has resulted in a lot of demand for housing–and there are still plenty of opportunities for investors who want to get into real estate now.
Austin also has substantial job growth numbers: It was named number two on Forbes’ Best Cities For Jobs list this year (after Miami). Its economy relies heavily on technology companies like Dell Computer Corporation, IBM Corporation; Apple Inc., which recently announced plans to build another campus there; and Google Inc., which opened an operations center downtown last year that employs over 2,000 people (not including contractors).
3. Raleigh-Durham, North Carolina
Raleigh-Durham is the second fastest-growing metro area in America, with a population increase of 2.7% between 2014 and 2015. As one of the best places to live in America, Raleigh has a strong job market: it’s home to companies like Red Hat and IBM Research Triangle Park.
The next big thing in real estate is already happening
4. Salt Lake City, Utah
Salt Lake City is the fourth-largest city in Utah, with a population of around 2 million. Salt Lake City’s annual growth rate is 3.2%, and its median home price is $300,000. The city’s rental market is also strong, with a median rent of $1,250 per month for one-bedroom apartments or condos and $1,400 for two-bedroom properties.
5. Dallas-Fort Worth-Arlington, Texas
The metro area surrounding Dallas has seen a lot of growth recently. It’s home to diverse industries and businesses, including technology firms like AT&T Mobility and Verizon Wireless; financial institutions like JP Morgan Chase & Co.; healthcare companies like Texas Health Resources; and manufacturing operations like Caterpillar Inc., which makes construction equipment.
There you go!
The top 5 fast-growing metro areas to invest in are Houston, Austin, Raleigh-Durham, Salt Lake City, and Dallas-Fort Worth-Arlington.
If you’re looking for a place to invest in real estate and make money, these areas are great options because they have seen significant growth over the last few years due to job creation or low unemployment rates. If you’re interested in investing in one of these markets, check out our website for more information about each city!