Whether you’re looking for a new investment or a place to call home, some areas are better than others for real estate deals. These selections show the most potential and offer the brightest outlook for the future of whatever property you choose to buy.
The city of Austin has been expanding in recent years and, although it recently hit a cooling off period, that expansion continues to bolster the local economy. Corporate giants like Indeed.com and The Independent are investing in luxurious new skyscrapers, bolstering support for predictions that job growth will continue to grow by 3% in the coming year.
Another Texas city seeing impressive growth, Dallas has added 717,000 new jobs, since 2010. Additionally, Toyota and other corporations have moved their headquarters into the area. On top of job growth, the real estate market is booming with new constructions going up all across the city. Average rent in Dallas is $1,621 and $218,300 is the median home price in the city.
In addition to new business developments and the impressive new G Line light rail public transportation system, Denver is also seeing an uptick in new apartment constructions. Union Station, Golden Triangle, Highland, and the RiNO areas are all seeing new additions to the growing number of apartment communities.
Fort Lauderdale, Florida
Long hailed as the spring break capital of the United States, developers are transforming the face of the city into something much more expansive. New condo developments and a thriving arts district are interconnected by a new rail system, bringing more bustle to the once sleepy city. The changes are bringing new renters to the city, fueling a demand for more apartments throughout Fort Lauderdale. Current construction will bring 13,000 new units to the downtown area alone.
The country music capital is seeing more development in recent years, launching the city into the future. Among the most anticipated projects is the $430 million Fifth and Broadway development. The project is expected to supply the city with 375,000 square feet of new office space, 350 new apartment units, and 183,000 square feet for commercial retail space. Additionally, the cost of real estate in the area remains low, making it an attractive option. One bedroom apartments in Nashville go for an average of $1,498, while the median home price is $228,900.
While these are the five most promising real estate markets in the country, other areas are similarly expected to gain steam. As tech development changes our economy, industries all over benefit from these innovations. That means more jobs and a need for more housing options.