Top U.S. Cities Where Real Estate is on The Rise
The real estate sector all across the United States has been riding an extraordinary high over the last few years. Low interest rates combined with a robust economy have combined to deliver record high gains in the housing and commercial market. Although some experts are predicting a slowdown as interest rates begin to creep up again, there are still a variety of markets where real estate is still on the rise. Here are some of the top-performing cities:
WASHINGTON, D.C.: The nation’s capital is ready to explode, thanks in large part to the addition of more than one million square feet of office space. As the economy continues to thrive, more people are moving inward into the city for choice jobs and the convenience of not having a long commute.
BOISE, IDAHO: The booming economy of Boise is a major contributor to its hot real estate market. As more technology companies locate their operations to this city, the population is growing and demands for housing is high. Residents of other like-minded cities such as Seattle, Portland, and San Francisco are moving to this Idaho gem for the more affordable cost of living balanced with the virtues of west coast living.
SEATTLE, WASHINGTON: While the rest of the nation may begin to experience a real estate market slowdown, Seattle is likely to still keep its hold on soaring prices. As the headquarters of many prominent companies such as Amazon, Microsoft, and Boeing, the Emerald City will stay sizzling because a lack of land to build on keeps existing houses at a premium. As the city continues to attract new residents seeking high-level technology jobs, the real estate market is likely to hold its ground.
ATLANTA, GEORGIA: This Southern cosmopolitan city continues to buck the national trend of declining home prices because its affordability factor still ranks as one of the best of the major US cities. With a variety of Fortune 500 companies calling Atlanta home, the city is certain to be able to sustain its rate of growth and attract new residents in search of a stable economy, moderate weather, and a low cost of living.
PHOENIX, ARIZONA: This desert paradise is one of the most popular places for investment properties because of the high number of snowbirds. Because the warm winter weather is a mainstay, the market should remain hot for the foreseeable future. The urban sprawl of this large metropolitan area is leading to a host of growing suburbs with plenty of land to build in an effort to attract new residents and investors.
CHICAGO, ILLINOIS: The Windy City is still king of the Midwest real estate market. Investors appreciate Chicago’s housing scene because of the city’s diverse industries that help to shield the region from economic downturns. An affordable cost of living continues to draw people to settle down in this bustling metropolitan region.
DOWNTOWN LOS ANGELES, CALIFORNIA: A recent revitalization of L.A.’s downtown area has contributed to a surge in the real estate market. The city has committed significant resources to keep the downtown area safer, attracting more and more new residents. The upcoming 2028 Summer Olympic Games will only serve to continue to boost the market.