ReSET Blog
Blog · November 23, 2022 · AUTHOR: Stanley Bawalan

Flipping Real Estate: Cities with the Best Growth Rates

It's no secret that flipping houses is a popular way to make money in real estate. What you may not know is that some cities have better growth rates than others. Here are the top cities for flipping houses:

Madison, Wisconsin

If you’re looking to flip houses in a metropolitan area with strong growth potential, Madison is a great place to consider. It’s also one of the best cities in America to live and work in.

Madison has seen a 3.6% population increase since 2010, and its economy has been growing steadily since the turn of the century. In 2021, it was named by Money Magazine as one of America's Best Places To Live. Its median household income is $63k per year—significantly higher than both national ($56k) and state averages ($59k).

Salt Lake City, Utah

Salt Lake City is the capital city of Utah and with a population growth rate of 9%, it is one of the fastest-growing cities in America. This high rate of population growth has caused real estate prices to go up over time as demand for housing increases. The average price per square foot in Salt Lake City was $252 in 2016, which makes it one of the more expensive places to live compared to other cities on this list. However, if you’re looking at flipping houses in Salt Lake City, remember that there are many ways you can find a cheap property around town!

Charlotte, North Carolina

Charlotte is a great place to flip houses. The city has a lot of growth potential, and it's a great place to be if you want to flip houses.

Flipping houses in Charlotte is an excellent idea for anyone interested in investing in real estate and living in one of America's fastest-growing cities.

Charlotte is home to many happy people who enjoy their jobs and the weather, as well as the many amenities that come with living there.

Austin, Texas

Cities across the country are experiencing growth rates that have only been seen in Silicon Valley in recent years. Austin is one such city, with a population of 912,000 and an average home price of $335,000. The median home price is $307,500 and the average rent is $1,500 while prices per square foot range from $129 to $145 depending on where you’re looking.

Boise, Idaho

Boise, Idaho is the best city to flip homes in the U.S., according to Zillow. The city's growth rate is 6.7%, which means it's one of only a few cities that are experiencing real estate growth at all.

Boise has a lower median home value than most of its counterparts on this list, making it an ideal location for potential flippers who are looking for affordable but promising markets. Its crime rate is among the lowest in any major city and its unemployment rate is just 4%, while its daily commute time is around 20 minutes, making it easily accessible to buyers who might not otherwise consider Boise as an option to purchase property in another state or region with higher costs of living and less desirable climates or weather conditions (like Seattle).

Tampa, Florida

Tampa, Florida is a great city to flip real estate in because:

  • The economy is strong.

  • There are many jobs and people moving to Tampa.

Dallas, Texas

  • Dallas is the third largest city in the United States, with a population of nearly 2.3 million people.

  • Dallas has more Fortune 500 companies than any other U.S. city—all of which make it an attractive place for businesses to open up shop, creating jobs and stimulating the economy.

  • There are also plenty of opportunities for real estate investors who want to get involved in flipping homes here; according to Zillow's Trulia: "Housing markets in the Southwest region had strong growth because of low inventory levels." This is especially true when it comes to buying foreclosures since there are so many available properties on the market now that were repossessed during the housing crisis (many of which were purchased by banks or investors).

  • You can still get a great deal on rent if you're looking for apartments or townhomes in Dallas; according to Numbeo: "The cost of living index in Dallas is 78." That means you'll pay about 78% less than average prices elsewhere in America! The median household income here is $57,082 per year—which puts it above California's median income ($56k) but below New York City's ($64k). It helps that Texas has no state income tax either... so this could be an ideal location if you're planning on flipping houses as part of your side hustle."

Jacksonville, Florida

Jacksonville is the largest city in Florida and one of the fastest-growing areas in the United States. Since 1990, over 1 million people have settled here to take advantage of its low cost of living and high quality of life.

The military and aerospace industries are major employers in Jacksonville, but many other industries contribute to its economy as well—the city has a strong healthcare industry and a large number of business headquarters call it home.

Nashville, Tennessee

Nashville, Tennessee is the capital of Tennessee and home of country music. The city has a rich history and was once a major shipping hub for the South in the 19th century. Today, Nashville’s economy is thriving as it continues to grow at an impressive rate. In fact, 2017 saw record-breaking growth numbers for new residents—more than 15k people moved into town last year alone!

Nashville has become more than just a tourist destination; it’s also becoming one of America's fastest-growing cities in terms of real estate investment opportunities. With its growing economy and stable housing market, Nashville might be just what you're looking for when considering flipping properties as part of your overall financial plan.

Colorado Springs, Colorado

Colorado Springs is a great place to set up shop if you're looking to flip houses. With a stable economy and reasonable cost of living, it's easy to see why this city has such growth potential for real estate investors. In fact, the average listing price in Colorado Springs is only $192,000—much lower than other cities on this list!

The city is home to many military personnel who are looking for better homes after deployment or service abroad (and they typically come with families). It's also located near several Air Force bases and has plenty of job opportunities within its limits: there are approximately 50 companies headquartered here! The city also boasts a low crime rate (with only 101 out of every 100,000 people being victims of violent crimes), making it an ideal setting for raising children. Finally—and most importantly—the school system here is among the best in the nation; perfect if you're looking into flipping houses with kids nearby!

Takeaway

There are many different factors to consider when you’re trying to determine which cities have the best growth rates for flipping properties. If you want more information on this topic, please contact us.

 

Message has been sent!