These Are the Most Affordable Cities in the US to Buy Real Estate
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- čas přidán 27. 07. 2024
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We found the nine most affordable cities in the US to buy rental property. Although all of these real estate markets are cheaper than the average, they still boast impressive investment potential for those who want to make cash flow, appreciation, or a bit of both. We took a popular list of the top twenty-five affordable markets and whittled it down to the nine Dave Meyer, VP of Market Intelligence at BiggerPockets, sees potential in.
Most of these markets are unsurprisingly in the Midwest and Northeast. But even then, they still have impressive population growth, high rent-to-price ratios, and home prices growing faster than inflation. But, with such healthy market metrics, these affordable cities may not last long as data-driven investors (like you) learn about them. So, don’t miss your chance to buy in the next booming market. If you’re ready to invest in real estate, start researching these markets!
00:00 Most Affordable Cities in the US
01:05 Sponsor: PropStream!
01:43 25 Most Affordable Cities
05:01 Cities with Population Growth
06:21 Cities with Cash Flow Potential
07:59 Cities with Rent Growth
08:51 Cities with Price Appreciation
09:39 9 Best Real Estate Markets
Slight caveat on Columbia, SC, the property tax rates are very high on investment property, often 4x what they would be on your primary residence of similar value.
What about GA, how are property taxes on investment properties in GA
That’s in most places though, taxes are generally always more when it’s not your primary property.
@@02nupebut 4x the owner/occupant rate is very high.
Detroit did register its first year of population growth from '22 to '23. Great analysis all around, just wanted to drop in the extra info.
I just picked up a 4-unit in class C neighborhood for $165,000. It will cash flow of 8,000 to 10,000 annually once it’s stabilized in a few months. Good value add opportunities with it as well.
Where?
My 4 unit in LA cash flows $33,000 annually and brings in $103,000 annually
@@trayniners3439 why did you post that?!! The whole world will be coming to LA
Where?
where? Or you're lying
Great information and insight! Thanks!
So true about Augusta GA. That’s where all my rental properties located.
We moved at the end of 2023! We did a similar search but for 2 to 3 bedroom rentals. I looked for cities with a declining population so our rent would stay low. We are in the Midwest but in a city you didn't name in your video. My forecast is a city with slightly declining population and low rents will grow in the next 2 to 7 years because renters are fed up with high rents.
Chicago adjacent in Indiana.
It would be great to see the final product when finished! Ive never considered section 8 investing but your videos are definitely making me want to jump all in! I currently own 3 "cash tenant" rental properties in fl. Much more expensive to scale in orlando. Thanks for your videos.
I would love to hear any and all additional information that you have on Tulsa!
Or if anyone else wants to chime in that's great too.
Nice videos
I invest in North adams, Adams, MA and it is the best ROI.
Tennessee- Murfreesboro, Clarksville
Where do you put Huntsville Alabama?
Augusta and Columbia sounds good to me!
What tools or websites are you using to find this data to cross check
I'm in Birmingham al. I would say that the Jefferson County area in general is a better overall area to invest in beyond just Birmingham.
Landlord laws
What do you think of Philadelphia PA and would it fit into this list? Based on my research I think it hits the criteria of population growth, has home appreciation at over national rates/inflation, rent growth over inflation, and is about a .6-.8 on the rent to price ratio. However homes certainly aren’t as cheap as other places on the list. What are your thoughts?
I'm a little biased since I'm from and still live in Syracuse (San Diego was too expensive to stay and too far from friends & family lol)... But the population growth in Syracuse especially (but Roch as well) is projected to be near 50% over the next decade or so thanks to all the semiconductor companies and government subsidies. The chips act encouraged micron to spend up to $100B on the factory in Syracuse and the federal government designated Syracuse to Buffalo as a semiconductor tech hub to further encourage investment. Kinda left out Malta NY (sorry globalfoundries) with that lol.
Lol i feel kind of dumb... most people include rental growth in their initial analyzing process. I never include it. If i cant cover the bills day one its not a good investment. That is for performing assets and not brrrrs.😊
This was fantastic. I get that most people will want to adjust for typical wages etc. but I'm actually interested in the most NOMINALLY affordable places to invest in rentals, as a person on a fixed income. Anyone know of places publishing those lists?
Nearly identical to this, but basically a "best places for people on fixed income to invest in real estate" list.
I was going to post my fav spot vs Augusta, not even close!!!! Cashflow is 200% better at my secret spot.
Keep it up Dave! Best thing on bigger pockets 💯
Buffalo NY had a population bump from covid but it’s more likely to lose population in the future then it is to gain it.
Buffalo is the only place in Western New York. Rochester and Syracuse are not in Western New York.
Who the hell wants to move to the coldest part of America. I saw people on the news dying there bc of freezing weather that went on for days!!!! NO thank you I ll pay to stay in Cali. I went to phoenix last weekend, and its 105, at 9pm!!! Hell no to that too.
@@pacman06100 It is not the coldest part of America. There was a once in a lifetime blizzard on Christmas that caused people to be trapped in their car and freeze to death. I lived through that storm.
this is exactly how you get markets to be oversaturated by using influencers to bait the common person to buy in these markets lolll thank you for not choosing the other markets where people have done very well because BP avoids it
Soy face thumbnail lol
Wichita is a miserable place to buy a house. Stay away from here at all cost