Picking an excellent location to invest in real estate can be very tough. This is because of the intense competition between cities in the US and within the real estate market.
The real estate market has become a victim of its success, causing investors to suffer from over-saturation of the market and inflated prices. This has caused some urban areas to experience a decline in property value.
However, savvy investors have found new opportunities that have helped them continue seeing a rise in appreciation. Such opportunities are available in underrated cities that offer affordable property rates and are close to big real estate markets.
Additionally, these cities have amenities that help them stand out from the big cities, such as renowned universities and world-class museums. This article has compiled a list of five such cities where you can invest to see an appreciation in your real estate.
1. Buckeye, AZ
Buckeye is a city in Arizona located just twenty minutes from Phoenix. The city has a population of around 90,000 people. With the construction of the Amazon Facility in Lower Buckeye Road, investors have seen a significant appreciation of property prices in the city.
The city is a desirable option for millennials and retirees. Arizona’s median price per square foot of properties is lower than most other areas. The property prices for homes for sale in Buckeye, AZ increased by 22% over the previous year as of April 2023. The average value of properties in Buckeye is around $450,000.
Buckeye has meager mortgage rates and property taxes, making it a perfect investment opportunity. The presence of top employers such as Honeywell, State Farm Insurance, and Wal-Mart in Buckeye has caused an influx of new residents.
It is less than a two-hour drive from Tucson, Dallas, and Phoenix, which are all major real estate markets. The top fun attractions in Buckeye are: Skyline Regional Park, Buckeye Aquatics Center, Buckeye Public Library, Buckeye Municipal Court, Az Atv Rentals, and Verrado Golf Club.
Among Buckeye’s prestigious museums is the Heard Museum, which features 35,000+ Native American pieces. It offers an array of events, exhibitions, and cultural activities throughout the year. Buckeye also has a cultural center that hosts various courses and workshops.
2. Alpharetta, GA
This is one of the largest cities in the North Georgia area. Alpharetta is located near Atlanta and has a population of around 70,000 people. The city is home to two elite employers: Bollinger Motors and IBM. The city’s real estate market benefits from the close proximity to big real estate’s markets such as Washington DC, Chicago, and Atlanta.
Most of the homes in Alpharetta are only 15 minutes from an airport. On average, people in the city take only 27 minutes to commute. The average value of properties in the city has increased by 17% from the previous year.
Homebuyers in the area can get financial support by taking a low-interest loan from SEC Bank. The top fun attractions in Alpharetta are Ameris Bank Amphitheatre, Wills Park, Avalon, Big Creek Greenway, Webb Bridge Park, Jekyll Brewing, and Rock Mill Park.
On average, homes in Alpharetta sold for just below $600,000 in April 2023. The city has several parks and large malls. The North American headquarters for Mercedes Benz is also located in Alpharetta. The city offers the most affordable houses compared to other cities in Atlanta, Georgia.
3. Eagle, ID
Eagle is a city located within two hours from Boise. The city is also close to job centers, only 4.5 hours from Spokane and three hours from Salt Lake City. On average, property sold for around $900,000.
It has a population of around 7,000 and is relatively small, measuring only 5.6 square miles. The property value in the town had increased by 9.6% in April compared to the previous year, making the town a perfect investment option.
The town has a stable population, and almost 50% of Eagle residents live within the city limits. The top fun attractions in Eagle are Eagle Island State Park, 3 Horse Ranch Vineyards, Firebird Raceway, Payette River Scenic Byway, Stephen C Guerber Park, and Gateway Parks.
Eagle’s average home size is 2,322 square feet, and its average household income is $92,000. Eagle residents commute to work within the city in less than 17 minutes. The city boasts several parks and a Festival of Lights held every year. Eagle has a stable population and a low cost of living, making it a great city to invest in.
4. Frisco, TX
Frisco is a city in Texas and is a great investment option for investors looking to purchase real estate in the Dallas-Fort Worth area. The average property cost in Frisco was around $775,000 in April 2023.
This was a 41.3% increase in property price from the previous year. The real estate market has continued to grow in the area over the past several years. The city is close to the Dallas-Fort Worth International Airport and has several highways.
On average, residents of Frisco commute to work in only 27 minutes. The top fun attractions include The Star, Dr. Pepper Ballpark, National Videogame Museum, Toyota Stadium, and Frisco Commons Park. The city is also close to three major sports arenas.
This makes it easy for sports fans living in the area to watch NBA basketball, Major League Baseball, and NFL football. The city is home to the National Football League’s Dallas Cowboys, AT&T Stadium, Texas Rangers, and numerous other sporting events.
5. Fort Collins, CO
The city is located in northern Colorado and is an excellent option for investing in real estate. The city is close to major real estate’s markets such as Wyoming and Denver. The residents of Fort Collins benefit from the low cost of living in the area.
Fort Collins has a size of 58 square miles and a population of around 349,000. The average property value in the city stood at $550,000 in April 2023. This value was up by 20% compared to the previous year.
Additionally, Fort Collins boasts of low mortgage rates and interest rates. The city experiences excellent weather and is perfect for homeowners seeking personal freedom. The population of the city primarily comprises families and young professionals.
Therefore, the median household income is over $70,000 a year. Residents of Fort Collins have access to over 60 schools within the area. The city is home to the Colorado State University Campus and Colorado State University’s Agricultural Museum.
On average, residents take only 29 minutes to commute to work. The top fun attractions include New Belgium Brewing, Cache La Poudre River, Horsetooth Mountain Open Space, and Annual Flower Trial Garden. The city boasts of 30+ parks within the city and a thriving nightlife. The city is close to several breweries and wineries.
Many cities in the US have good investment opportunities. This article provides only a small portion of the best investment options available. Remember, research is of utmost importance when choosing a location. Don’t rush.