Miami and Tampa have been ranked as the best cities for property investing based on rising values, incomes and population growth, according to analysis by Agent Advice.
Miami has seen a 13% surge in homes with five or more bedrooms. The city’s population growth rate is modest at 0.7%, but rising income levels (up 4.4%) are supporting strong real estate market demand in 2024.
Tampa has seen prices rise by more than 11% across all bedroom types. With a 2.7% increase in personal income, Tampa’s real estate sector is expected to keep growing.
Its location on the Gulf Coast, paired with a high quality of life, makes Tampa a prime investment choice, with more investors seeking to capitalize on its upward trajectory.
Outside of Florida the best city is Charlotte in North Carolina. The city has seen over 10% annual price growth for one-bedroom to three-bedroom properties, making it an attractive option for a variety of buyers.
Charlotte’s population growth rate (1.8%) and increase in personal income (3.6%) add to its appeal, positioning this fast-growing city as a prime location in the booming Southeastern market.
After that comes Raleigh in North Carolina, driven by property price increases exceeding 10% for one-bedroom to two-bedroom homes.
Although its population growth is steady at 2%, the city’s high quality of life and a 3.2% rise in personal income per capita highlight its potential for strong returns, making Raleigh a prime spot for real estate opportunities.
Rounding out the top five is Phoenix, Arizona, which has seen substantial property price hikes, particularly for one-bedroom units, at 11.5%.
Its population is growing at a steady 1%, while personal income has risen by 3.9%. Phoenix’s urban development and affordable cost of living continue to attract both residents and real estate investors.
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