Investing money in real estate is one of the best things you can do for your financial future.
It's clear to see why.
Not only do real estate investments offer tax incentives and plenty of opportunities to build equity and wealth, but they're also a way to leverage funds and own something that appreciates with time. Real estate properties continue to be one of the best places to invest money—and don't just take our word for it. Ask the ones who are collecting profits month after month, year after year.
The question isn't if you should invest, but where. Keep reading for some of the top places to put in a dollar.
1. Tampa, Florida
Tampa, Florida, is a solid market for investing in real estate. While it recently left its position on the top ten lists, it still makes sense to consider.
Prices there are more affordable than Florida as a whole (by about $70,000 on average), but continue to rise—residential properties went up by 12.2% between 2019 and 2020. Still, mortgage interest rates have managed to stay relatively low, hopefully earning the investor a better return on investment.
2. Boise, Idaho
Boise, Idaho, might not be the first place that comes to mind, but it's a worthy contender.
The market is currently quite active, although a little more vulnerable than others due to some uncertainty. Still, the rental sector proves to have plenty of opportunities, meaning the demand stays high and the profits are easier to come by.
Currently, investors can expect low interest rates on traditional loans and lower borrowing costs than normal.
3. Baltimore, Maryland
Baltimore, Maryland, continually proves itself as one of the best places to invest money.
Not only does it have a foreclosure bounty that makes finding property easier, but there's also a huge population of working-class renters.
Over 40% of Baltimore residents rent, which is higher than the national average. Thanks to several new Amazon fulfillment centers, a large student market (John Hopkins and U of M, to name two), and several diverse and historic communities in the area, you'll have plenty of eligible tenant candidates for your rental.
Properties in Baltimore also tend to be more affordable than the other places on this list, earning investors a promising ROI that comes quicker.
4. Austin, Texas
Austin, Texas, deserves a spot on the list due to its surge in tech companies, which has contributed to a population growth spurt.
The housing prices in Austin remain fairly low, and with no lack of new residents, there's plenty of tenants to choose between. Still, it's worth noting that Austin does face some economic uncertainty—although many renters seem to be rebounding from the pandemic woes nicely.
So Many Places to Invest Money, So Little Time
We'll make the decision easy for you.
Invest in a Maryland property today, and your local Baltimore team can ensure it's worth it—because we think it's one of the best places to invest money there is in the US. At the HomeRiver Group, we do everything under the property management umbrella, including finding you reliable, paying tenants. We help serious investors just like you—as evidenced by our 13,000 other properties.
Click here to get in touch with us.