Experts believe that the housing market is experiencing a boom right now despite everything that's transpired in 2021. If you're a landlord or rental property owner, there's no better time than now to look into new properties.
But what are the best places to invest in property? Where should you look and why are they considered good areas?
That's what we're here to look at today. Read on to find out more about the best places to invest in property!
Dallas, Texas
Dallas has both strong housing stock and higher rental rates that make it an ideal place for rental investors. The city also has a wide array of rental properties, and finding tenants likely won't be a challenge.
It's also a densely populated city with a wide range of household incomes. There's a diverse economy that's growing alongside its already large population, making it an ideal investment area.
Atlanta, Georgia
Speaking of population growth, Atlanta's population has been steadily growing for years. That means more and more people are looking for places to rent, making the 404 an excellent place for real estate investments.
Seeing as Atlanta is Georgia's capital and economic hub, there'll be plenty of people across income levels looking for rentals. Getting on Atlanta's real estate market soon would be a good call.
Orlando, Florida
For those seeking either long-term renters or holiday markets with properties, Orlando is an excellent investment option. Since so many people visit Orlando on vacation, you'll have reliable income during specific months.
That's not to say Orlando isn't growing as a destination either. With a growing population and more job opportunities, investing in real estate here is generally considered a lucrative option.
Spokane, Washington
If you're looking to get tenants that aren't going on vacation or want to live in a bustling metropolitan area, Spokane is an excellent bet. The city is an excellent destination for families and working-class residents alike.
Spokane, Washington is host to plenty of affordable residential areas that are excellent for investors in 2021. With a healthy economy supporting the city, Spokane will be a great area for investment for years to come.
What Should You Consider When Investing in Property?
Four of the best places to invest in property in 2021 go as far south as Texas and far west as Washington. When we identify the best places to invest in property, there are a few factors to consider.
The first is rental occupancy in an area. How much of an area is currently vacant? Are there places you can look to invest, or is already oversaturated?
Another factor is average rental prices. The higher the rent that's usually charged in an area, the quicker and more effectively you can pay off certain payments like the mortgage on the property.
Finally, we have tenant default rates. If you can invest in an area with trustworthy and reliable tenants, that's a great indicator of a great investment region.
Finding the Best Places to Invest in Property
If you're a property manager or looking to invest in rental properties, there are plenty of excellent options out there. Use this guide to help you find the best places to invest in property today!
Looking for rental management or leasing services in Spokane? Contact us today and we'll get you started with a solution right away!
