Americans prefer real estate to stocks for long term investing. And that’s especially true of younger Americans. While 61% of people 35 and over invest in the stock market, only 37% of Americans under 35 do.
Whether you’re just starting to invest or you’re a seasoned investor, real estate is the perfect way to diversify your portfolio. It’s a relatively low-risk way to build wealth over time.
But how do you decide where to buy? Do you stick with the local market or do you take a chance on a new town?
Wonder no more. These are the best places to invest in real estate in 2019.
The City Beautiful has been in the top five for years. Invest in a house near the House of Mouse.
Orlando’s employment and population growth is steady. And home values have increased by 10%.
Disney World’s ever-expanding compound is like job security. The parks will always be a draw for vacation renters and for people moving to the area for employment, making it one of the best cities to invest in real estate.
Billed in some circles as the “next Silicon Valley,” Atlanta is on the rise. The southern city is home to promising tech startups, as well as standbys like Mail Chimp. There’s also a Microsoft presence drawing business from around the world.
Job growth is up. Home values are up. And rental prices are competitive.
St. Petersburg, Florida
Tampa’s coastal cousin, St. Petersburg makes the list for its vibrant downtown and cultural offerings. Like Atlanta, St. Pete has a burgeoning tech scene. Its rich railroad history is matched by a flourishing future.
Cost of living is low in the Sunshine State’s Sunshine City. A recent trend of price reductions makes it a great time to buy.
Plus, it’s a great place to go back to. There’s something for everyone in St. Petersburg. It’s a celebration of the Arts, sports, and, of course, the beach.
Long-suffering Cleveland is having the last laugh. Once an easy punchline, the Ohio city is enjoying a renaissance as young professionals settle in, among them the tall Kardashian.
Jobs are growing at a higher rate than the national average. And there are a variety of job sectors, including manufacturing. When one industry stagnates, the others can pick up the slack.
Low home prices mean you can get more house for your money which makes it one of the best places to buy rental property. You can buy one large home and divide it into several rental units.
There’s a bustling theater district and plenty of architecture to admire. Cleveland is also home to two winning sports teams, overshadowing the other not-so-winning sports team.
Charlotte, North Carolina
North Carolina’s largest city Charlotte has a lot to offer. Equal parts southern charm and busy metropolis, it’s been one of the country’s recent fastest growing cities.
Charlotte is an east coast financial hub and home to several NASCAR races, the perfect example of its two complementary sides. It’s also a family vacation destination, which makes it prime real estate for vacation rentals.
Silver Spring, Maryland
Located near our country’s overpopulated Capital, Silver Spring, Maryland, is rife with some of this year’s best property investments. The northern suburb can keep its distance while taking advantage of DC’s growing job market. It’s just a metro ride away.
Silver Spring’s updated downtown area is home to restaurants, live music, and outdoor activities. Public transportation is first rate.
With its central location and strong local pride, Texas often has a spot on any list of best places to make real estate investments. Arlington’s family-friendly atmosphere and proximity to Fort Worth and Dallas make it this year’s Texas representative.
The average house is less than $200,000, but high rents are common, giving you more return on your investment. Home of the Dallas Cowboys and Six Flags, Arlington has a strong tourist draw.
Colorado Springs, Colorado
The best places to buy property have a lot going on, and Colorado Springs fits the bill. Nature and culture come together to make the mountainous city a peak investment opportunity.
There are national landmarks and lots of convenient hiking, thanks to nearby canyons and state parks. The historic district is a chance to relive the Wild West. Museums in the city run the gamut from the military-focused to an exploration of the gold rush.
Employment growth in Colorado Springs is among the highest of the bunch. The cost of living hovers around average, but it’s rising quickly.
Honorable Mention: The Midwest
Rising home prices nationwide mean fewer people are buying and more people are renting. This is particularly true in the Midwest where people are looking for a place to raise a family. Renting a home with a big yard for kids is the next best thing to owning one.
Places like Cincinnati, Indianapolis, and the Twin Cities are holding steady with job growth and make for a good endgame investment strategy. It might not be flashy, but it’s a good bet.
As ambitious young earners move home after a stint on the coast, they turn their eye toward the familiar. In an effort to make home a more attractive place to live, they resuscitate and develop their hometowns.
As recently as the mid-2000s, the Over the Rhine neighborhood in Cincinnati was a notoriously dangerous hotbed of criminal activity. Now it’s home to some of the city’s best restaurants and luxury condos.
The same thing is happening in Indianapolis’s Monon 16 area where the city has invested millions of dollars for revitalization. Kansas City has similar plans for their east side.
The Best Places to Invest in Real Estate Are Slow and Steady
The best places to invest in real estate in 2019 are the safe bets. While the market bubbles of yesteryear would have netted you handfuls of cash, the economy is still nursing its wounds.
Florida remains an investment stalwart. And the Midwest rises as an unexpected dark horse.
Are you looking to invest in real estate this year? Brush up on your investing technique by browsing our investment articles.