Homebuyers

2019 Best Cities to Invest In

By Taylir Paynter

July 17, 2019

1. Dallas, TX

The average house costs about $138,100 in Dallas, Texas. Dallas is a great place to invest if you’re looking to own in or near a big city. It’s a great place to be with its many restaurants and shops – why else would about 1.1 million residents live here?

2. Indianapolis, IN

With job growth jumping from 1.8% to 2.3% in the last 6 months, Indianapolis is a great place to invest. The average house sells for $213,000 and can be rented from $800-1,000 a month. The excitement of the city itself is a bonus.

3. Cleveland, OH

Job growth is on the rise while home prices decline. Cleveland is a great place to invest as it is not an overcrowded area but still maintains the city feel at a great price. This is also home to the NBA’s Cleveland Cavaliers – basketball lovers rejoice!

4. Memphis, TN

Memphis is home to some of the most influential musicians, giving it some pretty cool history, landmarks, and attractions. The average price of a home in Memphis is $190,000 and rents for about $1,000.

5. Philadelphia, PA

An average home in Philadelphia has a mortgage of $487 and can be rented out for $1,200. If the difference in these costs isn’t enough to convince you to invest here, Philadelphia is also home to the famous Liberty Bell and other historical landmarks.

6. Chicago, IL

Chicago is one of the most popular, sought-after cities to invest in – not only because of the excitement of the city but because of the 9.13% median cash-on-cash return. What are you waiting for?

7. Houston, TX

Houston’s relatively small downtown area provides a great amount of reason to invest. The average income is $53,000 while the average mortgage payment remains at $662.

8. Fort Worth, TX

In Fort Worth, you can find homes for as low as $121,000. This is a great place to invest as it is one of the more affordable parts of Texas and has a job growth rate of about 4%.

9. Warren, MI

Warren is a great place to invest as the houses are cheaper than other parts of Michigan, the crime rate is low, and the workforce has maintained steady job growth.

10. Fort Lauderdale, FL

Known for its beautiful beaches, this coastal city is a great place to invest. The average home costs $318,500 and home values have gone up 7% in the last year. The growth is expected to continue on this upward trend.

Investing can be a great way to build equity as long as you know where and when to invest. If you are still not sure where to start, call New American Funding today.