Where should you buy or fund property to maximize your real estate investment in 2021? Here are the five top locales.
1. Orlando, Fla. tops the list of best places to invest in real estate this year.
According to the Orlando Regional Realtor Association, the total inventory is much lower but the number of new contracts is up YoY. The average sale price for April is $362,400—up from about $300,000 this time last year.
Orlando was one of the top tourist destinations last year and that trend is expected to continue as travel rebounds. The city is home to hundreds of annual conventions, numerous major theme parks, and a whole slew of consumer-spending favorites.
Unlike most of the state, Orlando is 25 meters above sea level and isn't at the same risk of becoming underwater as coastline destinations.
2. Colorado Springs, Colo. offers more bang for your buck.
In Colorado Springs, the average home sold for $481,858 in April. At the same time, the number of unsold homes has shrunk by 63.8 percent.
Historically, Colorado Springs has been known as an agricultural region, but non-farm jobs are popping up. The increase in remote work makes buying a home here more attainable for the average professional.
Landlords can capitalize on increased rent, but construction costs might want to be avoided (the same could be said across the nation given the inflated price of wood). It's a good option for anyone who wants to stray from big cities like Denver.
3. Charlotte, N.C. is a real estate investment location with opportunities galore
Increased demand and exclusive supply have increased housing costs in Charlotte as well. In April, the median sale price increased 12.1 percent with the average list price at $394,485. The number of days on the market is down to 35 days.
Charlotte is a welcoming place for working individuals, families, and retired folks with an interest in a lively environment. The city's population is up 1.9 percent.
4. Atlanta, Ga. is on the up and up.
Atlanta is now the location for additional headquarters from major companies like Google and BlackRock. The population is on the upswing, but it's also one of the nation's biggest contributors to gentrification—especially around the greenified path that is the BeltLine. Before investing in real estate in Atlanta, consider whether you're intruding on historically Black neighborhoods.
Under the right circumstances, you can relish at an average sale price of $384,000, with an average time on the market of just 22 days.
5. Find another real estate investment opportunity in Jacksonville, Fla.
Another Floria location and the largest U.S. city by landmass (841 square miles, to be exact), Jacksonville is a corporate capital and a residential goldmine.
Single-family homes are at the top of the pack right now. The median home price is up 8.9 percent YoY to $256,000.