The 10 most in demand markets for real estate investors

by Steve Randall06 Dec 2017
Real estate investors are moving back to the Midwest according to a new study of single-family rental property sales nationwide.

Chicago takes the number 1 spot based on the 2-year-data analysis by HomeUnion. The metro saw a 30% jump in investment sales with more than half of single-family homes bought in 2016-17 having absentee owners.

Columbus, OH is next with an 18.1% increase in investment home sales. Atlanta (6.9%), Detroit (2.6%) and New York (2.5%) complete the top 5.

This list highlights the growing popularity of Midwest real estate markets," says Steve Hovland, director of research for HomeUnion. "Rental properties in these metros are trading at a faster rate than before as their local economies continue to grow, the cost of living is lower than it is in most coastal metros, and median local incomes are keeping pace with home values."

By contrast, Florida’s Tampa, Jacksonville and Fort Lauderdale are languishing at the bottom of the list as high prices are pushing out vacation buyers and investors are becoming more selective.

Most sought-after real estate investment markets of 2017:
Metro Percentage Point Increase in Investment Home Sales: 2016 to 2017
Chicago 30.4
Columbus, OH 18.1
Atlanta 6.9
Detroit 2.6
New York, N.Y. 2.5
Cincinnati 2.1
Philadelphia 1.6
Orange County, Calif. 1.5
Indianapolis 1.3
Milwaukee 1

10 least sought-after real estate investment markets of 2017:
Metro Percentage Point Decline in Investment Home Sales: 2016 to 2017
Tampa -6.4
Jacksonville, Fla. -6
Fort Lauderdale -4.5
Baltimore -4.1
Miami -4.1
Washington, D.C. -3.9
Boston -3.2
Buffalo -2.7
Orlando -2.7
Salt Lake City -1.9

 

More market update:

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