Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth. – Robert Kiyosaki
Where is the best city to buy investment property in the United States in 2016?
Should you buy in New York City or New Jersey, or should you settle for Seattle or even Las Vegas?
Your decision to buy investment property in any city shouldn’t be based on assumptions, rather it should be based on facts that are backed with data and housing market trends.
To help you make the right decision on the best city to buy investment property in 2016, JWB Real Estate Capital has selected some of the famous cities for buying investment property.
These selected cities were ranked based on 3 key factors:
- The performance of the local economy (based on November 2015 unemployment rate)
- The ratio of median home price to market rents (based on data from Zillow)
- Potential for future home price appreciation (based on population growth from 2000-2013, home appreciation from 2013-2015 and the Zillow market temperature)
The 10 best cities to buy investment property in 2016
10 – Birmingham, AL
- Ratio of Median Home Price To Market Rents: 14.37%
- Unemployment Rate: 5.2%
- Population Growth from 2000-2013: 8.37%
- Home Price Appreciation from 2013-2015: -3.19%
- Zillow Market Temperature: Warm
9 – Indianapolis, IN
- Ratio of Median Home Price To Market Rents: 10.53%
- Unemployment Rate: 4.2%
- Population Growth from 2000-2013: 28.07%
- Home Price Appreciation from 2013-2015: -3.15%
- Zillow Market Temperature: Cool
8 – Houston, TX
- Ratio of Median Home Price To Market Rents: 11.80%
- Unemployment Rate: 4.9%
- Population Growth from 2000-2013: 33.88%
- Home Price Appreciation from 2013-2015: 6.37%
- Zillow Market Temperature: Cool
7 – Kansas City, MO
- Ratio of Median Home Price To Market Rents: 11.08%
- Unemployment Rate: 3.9%
- Population Growth from 2000-2013: 11.9%
- Home Price Appreciation from 2013-2015: -1.1%
- Zillow Market Temperature: Warm
6 – Tampa, FL
- Ratio of Median Home Price To Market Rents: 10.01%
- Unemployment Rate: 4.6%
- Population Growth from 2000-2013: 19.78%
- Home Price Appreciation from 2013-2015: 18.46%
- Zillow Market Temperature: Cool
5 – Atlanta, GA
- Ratio of Median Home Price To Market Rents: 9.35%
- Unemployment Rate: 5.0%
- Population Growth from 2000-2013: 29.99%
- Home Price Appreciation from 2013-2015: 25.63%
- Zillow Market Temperature: Warm
4 – Cleveland, OH
- Ratio of Median Home Price To Market Rents: 20.5%
- Unemployment Rate: 3.7%
- Population Growth from 2000-2013: -3.88%
- Home Price Appreciation from 2013-2015: -6.37%
- Zillow Market Temperature: Very Hot
3 – Nashville, TN
- Ratio of Median Home Price To Market Rents: 9.29%
- Unemployment Rate: 4.3%
- Population Growth from 2000-2013: 33.92%
- Home Price Appreciation from 2013-2015: 22.37%
- Zillow Market Temperature: Warm
2 – Orlando, FL
- Ratio of Median Home Price To Market Rents: 10.05%
- Unemployment Rate: 4.5%
- Population Growth from 2000-2013: 37.81%
- Home Price Appreciation from 2013-2015: 22.31%
- Zillow Market Temperature: Warm
1 – Jacksonville, FL
- Ratio of Median Home Price To Market Rents: 10.38%
- Unemployment Rate: 4.7%
- Population Growth from 2000-2013: 24.13%
- Home Price Appreciation from 2013-2015: 15.39%
- Zillow Market Temperature: Very Hot
Moving to any of these 10 cities can make it easier for you to find and buy the right property. We can connect you to licensed and BBB rated moving companies anywhere in the United States. Also, you’ll get up to 6 free moving quotes so you can compare costs before making up your mind.
Watch this video to learn more:
