GoBankingRates recently compiled their list of the best and worst U.S. cities for real estate investment. Their analysis put Austin among the top 10. Specifically, Austin ranked as the fifth-best city in which to invest in real estate. Austin beat out other popular real estate investment cities like Dallas, Miami, Portland and Nashville.
To come up with the list of best cities for real estate investment, GoBankingRates analyzed 61 of the most populous U.S. cities. Researchers analyzed each city based on employment growth, population growth, increase in home values, and years to pay off property. Austin – as with the other cities at the top of the real estate investment list – ranked highly based on population growth fueling demand for housing.
Housing Demand and Real Estate Investment
In a report about the list of best U.S. cities in which to invest in real estate, Cameron Huddleston, Life + Money columnist for GOBankingRates wrote “Growing populations in the top 10 cities on our list are fueling the need for more housing.” Conversely, the cities at the bottom of the list – or the worst U.S. cities for real estate investment – are experiencing slow to negative population growth and sluggish economic growth.
A combination of low population growth and little economic development forecast low housing demand now and in the near future. Real estate investors will fare better where housing demand is strong and the economy is stronger. In Austin, the population grew by 14.2 percent on average from 2010 to 2015. Likewise, Austin’s economy is thriving, which caused employment to grow by 4 percent since last year.
Success in Real Estate Investment
Acting fast is critical to successfully invest in Austin real estate. Putting off investing in Austin real estate could result in a higher buy-in as mortgage rates and home values continue to increase. Additionally, waiting to invest increases the time it takes to see a return on investment. Investment growth that can be gained from investing in Austin real estate now is lost on waiting.
Get started with a free, no-obligation Austin real estate investment strategy session with an Austin real estate strategist at David Brodsky Properties. Taking the time to invest in developing a sound real estate investment strategy will help ensure your investment success. Contact David Brodsky Properties today to schedule your consultation.
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