Need More Return From Your Investment Properties? Check out These 5 Cities

In real estate, it is all about location. To be successful at purchasing investment properties, you need to have an eye for determining which areas offer the best potential for profit. If you will be investing in real estate in the near future, then here are some cities you should consider.

Denver, Colorado

Denver Real Estate

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There are a lot of good reasons to invest in properties in the Denver, Colorado area. The gross median rent for the region continues to rise at a rate of 10 percent per year and has topped the $1,000 per month mark for the average property. The median property value for homes in Denver has also gone up over $80,000 per property since 2000. Approximately 44 percent of the population is married, which makes Denver a great place to rent to families.

Houston, Texas

Houston Property

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It seems like Houston, Texas is constantly being included in the list of fastest growing American cities. There are three statistics to pay attention to that make Houston a great place to invest in real estate. The vacancy rate is only three percent, which means that you should have little problem finding good tenants. The average monthly rent for a property in the area is $1,270.50 with an annual rate of increase of around 17 percent. With the population in Houston increasing at an annual clip of eight percent per year, this is the kind of city where you can make a profit.

Miami, Florida

Property in Miami

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People will always find reasons to move to Miami, Florida, which is good news for people who own investment properties in the area. The average rent in Miami is $1,900.00 per month and that is rising at an annual rate of around 11 percent. The population has risen 10 percent since 2000, which has created a vacancy rate of only four percent.

Philadelphia, Pennsylvania

Philadelphia Investment Property

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The Northeast was hit hard by the recession and the mortgage collapse of 2008, but the region is recovering nicely. One city in the Northeast that is seeing significant recovery is Philadelphia, Pennsylvania. The median rental costs for residential properties in Philadelphia is $1,467 per month, and that is seeing an annual increase of around nine percent. The Philly job market is recovering as well, which means that the vacancy rate in the city is only around three percent.

Oakland, California

Oakland Real Estate Property

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The California Bay Area has always been a great place to own investment properties, but Oakland is really making things tempting for investors. The median rent for Oakland is $2,017.50 per month and that has been steadily increasing at a pace of approximately 12 percent per year. With a vacancy rate just below two percent, you will be able to realize a significant profit when you invest in Oakland real estate.

Real estate is the kind of industry where the person who does the most research is the one who makes the most money. When you are trying to determine where to invest your money, there are several cities that have seen a rise in median monthly rental costs and a drop in vacancy rates.

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