For the 40 years, Emerging Trends in Real Estate® has been publishing the oldest and most reputable forecast report for the real estate industry. If you’re open to relocating or are considering purchasing real estate for rental property, these ten cities in the united states are projected to be some of the most fruitful markets to invest in for the 2019 year. Read on to see which hot spots make the top of the list!
#1 Dallas/Fort Worth, TX
Climbing from the fifth spot, Dallas has made it’s way to the top of the list in 2019. Thanks to the low cost of living, a strong economy, as well as healthy labor and population growths, the increasing demand for property is steadily rising. There are many new constructions on the market proving the area is keeping up with the demand.
- Median Property Price: $296,726
- Traditional Rental Income: $1,570
- Airbnb Rental Income: $2,750
- Days on the Market: 48
- Price-to-Rent Ratio: 15.75
#2 New York/Brooklyn, NY
While purchasing in the area is quite expensive, the demand for real estate property is apparent in American and international investors alike. “the city government, the local real estate board, and the construction trade unions are finally working together to increase new supply” according to the Emerging Trends report. Due to the high rate of rental properties, it’s especially profitable for those who purchase a multi-family home.
- Median Property Price: $1,110,259
- Traditional Rental Income: $3,239
- Airbnb Rental Income: $3,564
- Days on the Market: 137
- Price-to-Rent Ratio: 28.56
#3 Raleigh/Durham, NC
With a strong rate of employment growth and a history of a balanced housing market, Raleigh is one of the top 3 places to invest. Not only does the area benefit from the new workers flooding the city, there are universities within the area too. A high percentage of families under 44 is another added benefit for property investors looking to rent out to millennials who work, live and play within Raleigh.
- Median Property Price: $433,433
- Traditional Rental Income: $1,553
- Airbnb Rental Income: $2,652
- Days on the Market: 82
- Price-to-Rent Ratio: 25
#4 Orlando, FL
Thanks to the beautiful beaches, sunny weather and improving quality of life, Orlando is experiencing population growth at the rate of 7.2% as well as an annual job growth of 4.4% thanks to young professionals flocking to the area.
- Median Property Price: $323,826
- Traditional Rental Income: $1,588
- Airbnb Rental Income: $2,256
- Days on the Market: 74
- Price-to-Rent Ratio: 17
#5 Nashville, TN
With a vigorous demand for long and short term rental properties, Nashville takes the fifth spot. Beside the lowest unemployment rate in a city with a population of over a million, there’s a strong job market that’s attracting a younger demographic. Not only that, Music City is a known attraction for tourists – making it a great investment area for those who are wanting to purchase short term rental property that can be listed on popular sites like Airbnb.
- Median Property Price: $413,592
- Traditional Rental Income: $1,753
- Airbnb Rental Income: $3,452
- Days on the Market: 79
- Price-to-Rent Ratio: 19.66