When it comes to buying real estate for an investment, you need to be careful about where you buy. Sure, being a local landlord can make your life easier in some ways. But if you really want to be sure your investment goes well, your best bet is to invest in a place that has high job growth, good population growth, affordability, and moderately increasing housing prices.
Job and population growth are important because the more new jobs and more people a city has, the more people will be looking for a place to rent or buy. And affordable property now means that you can actually afford to purchase property as an initial investment. And you don’t want to buy in a place where property prices are increasing too quickly unless your ultimate plan is to re-sell. If you’re looking for long-term investment, purchase in a place with moderately increasing housing and rental prices so that your future tenants don’t get priced out of the area.
Taking into consideration all of those factors, we scored U.S. cities to come up with this list of the top 10 cities for investing in real estate this year.