NEW YORK, March 27, 2023 (Newswire.com) - Yieldstreet acknowledges that there are a number of different ways to define the term "hot" when discussing real estate markets. It usually refers to demand so high that buyers are offering thousands of dollars over asking prices just to get their feet in doors. However, this could be problematic for real estate investment, as opportunities to acquire desirable properties at reasonable prices are few. For this list of the five hottest US real estate markets in 2023, Yieldstreet has focused on the fundamentals — healthy demand, adequate supply and reasonable prices.
Raleigh, North Carolina: Three major medical centers, low unemployment rates, and the largest research park in the United States contribute generously to the city's thriving economy and job market. While the cost of living is slightly above the national average, Raleigh remains more affordable than most cities in the nation. Home values are appreciating, which bodes well for investors looking to build equity and rental incomes.
Durham, North Carolina: One of the fastest growing cities in the United States, Durham's well-educated populace makes it an attractive market for real estate investment. Duke University attracts throngs of students in need of housing each year. Durham also hosts an abundance of healthcare related companies whose combined annual payrolls average $1.5B. Even better, the city's cost of living is roughly 23% below the national average.
Denver, Colorado: The relatively low unemployment rate, owing to its sizable aerospace and biotech sectors make Denver attractive to young people seeking stable careers. In fact, the city's employment to population ratio is among the highest in the country. Salaries are good, the cost of living is reasonable, and properties are reasonably priced. A magnet for millennials, Denver is also experiencing strong population growth.
Phoenix, Arizona: With a cost of living slightly more affordable than the national average, Phoenix hosts the headquarters of four Fortune 500 companies. The city has also positioned itself to be especially attractive to entrepreneurs and startups with its Center for Entrepreneurial Innovation. The unemployment rate in Phoenix is also lower than the national average, with plenty of opportunities in finance and insurance.
Colorado Springs, Colorado: Affordable home prices with an easy commute to Denver is why investors should consider Colorado Springs. The state's second largest city routinely ranks among the places in the U.S with the cleanest air and the finest school systems. A hub for outdoor recreation, the city is also attractive to tourists. Additionally, Colorado Springs hosts several military installations, including the U.S. Air Force Academy, which presents many opportunities for investors monitoring the alternative investment trend of real estate.
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Original Source: Yieldstreet Discusses The 5 Hottest US Real Estate Markets In 2023
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