Best places to buy a rental property in 2021
You might be interested in investing in rental property but are unsure how to go about it. Should you prioritize investing in an area with a reasonable cost of living and cheap housing prices? What about a place teeming with beautiful scenery that is attractive to tourists? Or perhaps in a city experiencing fast population growth? We are here to help with our guide on the best places to buy a rental property in 2021!
Table of Contents
Let’s look at the most affordable places first!
When looking to invest, perhaps the best approach is quantity! Having multiple affordable apartments to offer your potential renters might be what brings you the most profit. Here are some cities to which you could apply this strategy.
- Austin, Texas. In addition to the affordable cost of living and housing, Austin has the advantage of an outstanding educational scene! The local university is an excellent draw for people looking to rent a property. The city is also well known for its nightlife, which is partly aimed at the students. Look to buy property near the campus, and you will be set!
- Atlanta, Georgia. The additional draw of Atlanta is its many employment opportunities! If properties for rent are mainly a draw for the students in Austin, here you would be catering to well-established families and young professionals looking to prove themselves!
- Tampa, Florida. Another draw for the crowd of college students and young professionals! Tampa is a promising place to buy a rental property with its many colleges and good employment opportunities.
- Columbus, Ohio. In addition to the low cost of living and a bustling job market, Columbus also dips into another one of our categories: it is an area of high population growth. All three factors together allow for a thriving market for renting property. You practically needn’t worry about how to market correctly; Columbus does a great job of doing this for you!
- Ellicott City, Maryland. Low cost of living, affordable properties, and some very stunning views all come together to make Ellicott City an attractive option! So, once you visit it, you may be tempted to call Here & Now Movers to transfer all the new furniture to your new rental property and start getting it ready for tenants immediately!
Here’s a list of the fastest-growing cities for you!
You might, instead, want to focus on fast-growing cities instead and cater to families moving to such cities! This would allow you to focus a bit more on the quality of your property and less on the number of properties you own.
- Irvine, California. A community in Orange County, Irvine is a master-planned city and home to the University of California! This makes it uniquely fast-growing while also offering plenty to students and families with an eye on long-term growth.
- Frisco, Texas. Lauded as the fastest-growing city in America, Frisco is sure to have plenty of people looking to rent! In addition, it benefits from the Texas food culture, having plenty of small restaurants and cafes.
- Meridian, Idaho. Amazingly fast-growing, with some stunningly low housing prices! In addition, Meridian offers easy access to Boise for those looking for variety in their everyday activities. The nearby ski resorts (the best in the county!) are also a draw for winter sports lovers.
- Cedar Park, Texas. The advantages of Cedar Park are highlighted in its name! In addition to experiencing considerable population growth, Cedar is also ideal for nature lovers and all those looking to relax. This makes it a perfect destination for those looking to retire, thus offering an excellent opportunity for renters!
- South Jordan, Utah. Another one for nature lovers! Easy access to a river, mountains, and some stunning trails, combined with the fast population growth, makes this place an ideal option for purchasing a rental property. Also, you will be able to buy some higher-class residences for rent Just make sure you prepare all your furniture for the move is an eco-friendly manner; you do not want to spoil the beauty of the region!
We present to you some of the prettiest cities!
If focusing on the previous two suggestions is not your cup of tea, then you might be interested in catering to tourists! Who doesn’t want to stay in a beautiful rental property while on holiday? Well, these following places will offer you a chance to pander to such a mindset!
- Havre de Grace, Maryland. This quaint little seaside city is absolutely stunning! With the many, many walkways and the water activities it has to offer, it easily draws the eye. In addition, the cost of living is quite low, allowing its residents to save on their expenses! For such a small area, it also has some amazingly good moving companies with good insurance plans. So, once you need to move the furniture into your new rental property, you will be able to shield yourself from accidents when moving. And even if they do occur, it won’t be such a big deal!
- Woodstock, Vermont. Ample in New England’s beauty with its rolling hills and meadows, Woodstock is a perfect weekend destination. Why not be the one to provide the bed and breakfast services the area requires?
- Big Sur, California. This seaside paradise throws mountaineering into the mix! The city is also surprisingly affordable, which could be perfect for your needs when moving and preparing your property for rent.
- Camden, Maine. Another New England experience, in addition to the rolling hills of Woodstock, Camden has a beautiful seaside to boast! With most of the town focused on tourism, your rental property will fit right into the economy of the place.
- Santa Barbara, California. With its beautiful beaches, colonial buildings, and views of the mountains, Santa Barbara is a uniquely Californian experience. In addition, lovers of surfing will adore the city! All of this, and the tourism-driven economy, might be what convinces you to choose this city for your business venture. Just make sure to properly check your bank balance since properties here could be a bit costly!
This is the end of our guide on the best places to buy a rental property in 2021! We hope that we have helped you choose the perfect location for you and your needs. Just make sure to properly study all of your options, and we are sure you will be just fine!