A good property investor is always on the lookout for new opportunities.
And as some areas of the US are combatting a real estate market uprooted by the coronavirus pandemic, the projected decrease in home prices over the next year could mean it's the right time for investors to buy.
Longtime house hacker and Atlas Real Estate Investment Brokerage VP Mike Hills told Business Insider that while real estate investments are great income-generating opportunities, location makes all the difference, and some cities are bound to be profitable, and others to avoid.
With tenant laws, mortgage costs, maintenance fees, and a number of other important financial factors varying by state, he said some locations protect an investor's bottom line better than others.
These are the cities that Hills said investors should keep an eye on if they're looking to maximize their returns.
1. Austin, Texas
With a population just under one million, Austin is ranked 17th on the list of top US cities for young professionals, 33rd on the list of best places to raise a family in America, and 23rd on the list of best cities to live.
The city's median home value stands at $312,300, with the median rent at $1,225.
2. Denver, Colorado
Denver is home to almost 700,000, and it's an urban environment where homeowners and renters represent equal halves of the housing market. The city is ranked 11th on the list of best US cities for young professionals and 27th on the list of healthiest places to live in America.
The city's median home value is $357,300, with a median rent of $1,217.
3. Charlotte, North Carolina
Charlotte is home to a population of around 850,000 and an urban-suburban mix where 53% of residents own their homes. The city is ranked 21st on the most diverse cities in America and 29th on the list of best cities to buy a house in America.
Charlotte's median home value is $200,500. Its median rent is $1,086.
4. Phoenix, Arizona
With a population north of 1.6 million, Phoenix has an urban-suburban feel and a 53% home ownership rate. Phoenix ranks 56th on the list of most diverse cities in America and 65th on the list of best cities to retire in America.
The median home value in Phoenix is $217,400, and the median rent is $999.
5. Boise, Idaho
Boise is home to around 225,000 residents and has a dense suburban area feel, with 60% of residents owning their homes. The city is ranked 32nd on the list of best cities to buy a house in America and 51st on the list of best cities to raise a family in America.
The median home value in Boise is $230,800, and the median rent is $910.
By Natasha Solo-Lyons
 Published
July 11,2020
Full article: https://www.businessinsider.com/target-these-cities-real-estate-investor-2020s
