When contemplating investing in real estate, wise investors know it’s more than just about location – it’s about understanding the broader context. Factors such as economic prospects, safety, affordability, growth potential, education, and climate play a pivotal role in determining the success of an investment.
Presently, the average price of homes in the United States stands at $513,100, a stark rise from $375,500 five years prior as reported by the Federal Reserve. Despite unique circumstances contributing to this surge, indications suggest that prices will continue their upward trajectory in the foreseeable future.
Riverside, California
- Typical home price: $643,521
- Year-over-year increase in price: 8.6%
- Safety index: 59.76 (moderate)
- Climate index: 86.63 (very high)
- Crime and safety rating: C-
- Overall rating: B-
Joe Stance, a seasoned broker and founder of Stance Commercial Real Estate, attests to Riverside’s burgeoning growth and escalating desirability as a real estate hub. He notes its strategic proximity to major urban centers such as Anaheim, San Bernardino, Los Angeles, and San Diego which lends it an appealing blend of cosmopolitan accessibility and small-town charm ideal for families.
“Riverside is on the brink of sustained expansion,” Stance remarks. “The city’s unwavering commitment to fostering the arts, driving innovation, and nurturing new enterprises positions it as a premier destination for both residential and commercial real estate ventures.”
New Albany, Ohio
- Typical home price: $599,251
- Year-over-year increase in price: 7.9%
- Safety index in nearby Columbus: 50.66 (moderate)
- Climate index in Columbus: 71.29 (high)
- Crime and safety rating: B+
- Overall rating: A+
Dimitri Zubrich, a Realtor affiliated with Re/Max in Westerville, Ohio, identifies New Albany as a concealed treasure that is primed to emerge as a real estate hotspot in the next half-decade. He sheds light on the forthcoming economic renaissance catalyzed by Intel’s upcoming microchip plant project, set to generate over 3,000 jobs and a $20 billion investment influx into the region.
“The Intel initiative, coupled with New Albany’s advantageous low property taxes and distinguished educational system, positions it as a quintessential locale for enduring investments,” Zubrich asserts.
Atlanta
- Typical home price: $399,879
- Year-over-year increase in price: 2%
- Safety index: 36.02 (low)
- Climate index: 89.73 (high)
- Crime and safety rating: C-
- Overall rating: A
For those eyeing the Southern region, Atlanta emerges as a compelling prospect for property investment in the forthcoming years.
“As an Atlanta Realtor, I genuinely believe that Atlanta stands out as the premier city for real estate investment over the next five years,” remarks an industry expert.