With high buyer demand, decreased supply, and low mortgage interest rates, the housing market looks good in 2021. So, let’s dig into some of the best places to invest, along with how to get your foot in the door in an in-demand real estate market. We’ll also be looking at tools to identify properties, investment strategies, and some of the tax deductions you should expect to make use of in your first year of rental property ownership.
What are some of the best places to invest in for 2021?
Dallas, Texas
- High availability of housing
- High rental rates relative to housing prices
- Diverse economy offering employment opportunity at every income level
- Dallas has the lowest homeownership in the U.S. because it’s more affordable to rent than buy
- In 2018, the Dallas City Council unanimously voted for a comprehensive housing policy that would produce 20,000 new homes in three years to lure the middle class back to the city.
- Since 2016, Dallas has added 50,000 new apartment units.
- From 2020 through 2029, the Dallas Fort-Worth (DFW) area is projected to add almost 1.4 million people!
Houston, Texas
- 4th largest city in the US
- From 2020 to 2029, Houston is expecting a population growth of 1.24 million residents.
- Lots of industry! Houston is home to the busiest port in the U.S. in terms of foreign trade; Amazon is building a one-million-square-foot distribution center there in 2021.
- Home values went up roughly 26% over the last five years and are expected to grow 9.9% during 2021.
Atlanta, Georgia
- 4th fastest-growing region in America according to the 2020 Census.
- Atlanta is expected to add 1.2 million jobs over the next 30 years and 2.9 million new residents.
- In November of 2020, the median home price was up 15% from the same time last year. Homes priced below $200K are selling “6 or 7 times faster” than homes greater than $350k.
- One of the most landlord-friendly states.
Las Vegas, Nevada
- A diverse economy serving the health, tech, tourism niches, and more.
- Property prices are up 10.2% since this time last year. Although the cost of homes is not expected to remain this high throughout 2021, Las Vegas is still a city to watch because of high demand, low inventory, and low mortgage rates.
- Working remotely has inspired renters from more expensive areas to move to Las Vegas, mainly from Southern California.
- In 2020, builders signed contracts for over 10,000 new homes.
- Nevada has no income tax.
Read Full Article: [Source: www.mynd.co]
