Deciding When to Buy an Investment Property Where? Buying is the first thing. But how do you sort through all 50 states to choose the right real estate market to invest in? There are some things to consider, including property taxes, landlord-tenant laws and whether rent prices are rising.
To help get you started, here are five states with lots of potential and five where investing in real estate may not pay off. we used data from Zillow, data usa, apartment guideAnd WalletHub To compile the list. Keep reading to learn about investing in real estate across the country.
Best: Florida
- Typical Home Value: $397,280
- Year-over-Year Home Price Changes: +34.3%
- Average Monthly Rent: $2,271
- Year-to-date fare change: +37.56%
- Effective property tax rate: 0.89%
The Sunshine State could be a golden opportunity for rental property investors because its population continues to grow — and nearly 34% of its residents rent rather than buy. So, there’s a stable pool of tenants. According to rocket hostageThis is especially true in Tampa and Jacksonville, where job growth is strong.
Jacksonville, in particular, is a hot spot in terms of real estate. On the one hand, sources say the average list price is well below the national average. And on the other hand, home values have increased by 20% since 2021. new silver Florida is a landlord-friendly state: no rent controls, restrictions on late fees, or limits on security deposits.
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Best: Georgia
- Typical Home Value: $316,705
- Year-over-Year Home Price Changes: +27.1%
- Average Monthly Rent: $1,666
- Year-to-date fare change: +29.34%
- Effective property tax rate: 0.92%
Georgia is another state with great potential for real estate investors. About 36% of residents rent, and jobs keep bringing more people to the Peach State. Take Atlanta for example. WABE Says there has been “tremendous migration” and “tremendous job growth” to the city. This has created demand for single-family rentals.
The housing market in Atlanta is highly priced, but that’s not necessarily bad for investors. If it’s a long term investment, you don’t need to worry about short term market downturns. High prices also drive potential buyers out of the market – and keep them in the rental cycle. Additionally, Georgia is considered a landlord-friendly state.
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