The real estate market has been on a rapid rise since its large downfall in 2008. Investors have responded to the growth by investing in a variety of different properties and property types. One of the most common properties that investors are currently investing in are rental properties. These properties allow investors to receive a steady income while growing their wealth off of an initial investment. There are many areas that offer great investment opportunities for rental properties. These areas are expected to grow in population size, experience increased job availability, and are affordable to live in.
The real estate market is growing rapidly in Orlando, Florida. There has been a consistently increasing demand for single-family homes in the area. It is completely possible for investors to find homes that are move-in ready for around $150,000 in the Orlando area. The Orlando market exceeds the three requirements that are needed from a good investment opportunity: Job growth, population growth, and affordability.
Tampa is another great city in Florida that presents a great investment opportunity. The Tampa Bay area has a population size of over 3 million people, making it second to Miami as the most populated city in Florida. There have been over 30,000 jobs that have been introduced to the area in the past year. Amazon, the online retail giant, has introduced jobs to the area in addition to several other multi-billion dollar companies.
Pittsburgh is a city that experienced previous growth through its huge steel industry. The city is currently home to a variety of companies, ranging from healthcare to robotics. Investors, according to the recent median sale price, can purchase 3-bedroom homes for around $140,000. Meanwhile, the job economy in Pittsburgh has been on a steady rise.
The Texas real estate market is one of the largest real estate markets in the United States currently. The state offers a lot of opportunities for investors to utilize. Nearly 50 Fortune 1000 companies have their homes in Houston (e.g. energy and oil). Houston offers a landlord-friendly economy with a median monthly rent of $1,440. The market has a great opportunity for passive income generation.