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Investing in real estate has become a popular trend among many individuals. Although it can be risky, the key to a profit is where you’re investing. Some housing markets are better than others. This is true all around the world, and even within the United States. There are even some differences within states.

There are several factors that need to be considered when investing in residential properties to rent to tenants, with the housing market being just one of those things. Fortunately, there are tools that allow you to check a property’s metrics to determine if it’s worth investing in. It will surprise you which areas in the United States and around the world have some of the most affordable housing prices.

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United States

These cities/states have some of the most affordable housing in the country and see a steady increase in population growth. Both of these factors are important when it comes to looking for properties. You want to be sure that the location you’ve chosen is affordable for both you and potential tenants. An affordable housing market means that houses are cheaper for you to invest in, but they’ll also attract others in need of a place to live.

Another aspect of a good housing market is the job market. A diverse and growing job market attracts more people— more people in need of homes to rent or buy. This adds to the overall population of a city, further creating a need for housing.

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Alabama

Birmingham, Huntsville, and Montgomery all have very affordable housing compared to other United States cities. All three Alabama cities also have seen increases in jobs. Birmingham has a pretty stable real estate market, with the median home price being $177,900. Just 90 miles away from Birmingham, Huntsville’s median home price is slightly more at $203,000, but this is still lower than the national median price. Finally, Montgomery has the lowest median price at $141,000.

Ohio

Cincinnati, Cleveland, and Dayton are three of Ohio’s most affordable cities to live in. While none of these cities are seeing a significant increase in their populations, they are seeing more younger people moving to these areas. Of the three cities, Dayton has the lowest housing price at an average of $141,072. The larger city of Cincinnati has an average price closer to $200,000, while Cleveland has a median price of $161,415.

Texas

Houston and Dallas are the largest and third-largest cities in Texas, respectively, with both cities seeing an increase in their populations, and both having a very diverse job market. Dallas and Houston both have median housing prices higher than the national average at $263,688 and $255,750, respectively, but you can find cheaper prices in both of their metropolitan areas.

Florida

No doubt, Florida is the best place for real estate investment, or at least one of the best places. Specifically, Jacksonville, Tampa, and Orlando are the cities that have some of the best housing markets in the state. Out of the three cities, Orlando has the highest average price of $262,000 but has a quickly increasing population and strong job market to make up for it. Tampa is much cheaper with the median price of a home being $231,000, and Tampa has also seen exponential growth in population over the last several years. Finally, Jacksonville has an average price of $240,000 for a home, with a steady population increase and an expanding job market.

Worldwide

According to rental statistics from around the world, France, China, and Italy have a huge market for renting properties— even if they are properties listed on Airbnb. Investing in properties in other countries has the potential to bring in a significant amount of money.

France

It’s probably no secret that you can make money from rental properties in France since it is the most toured country in the world. You may be thinking that it’s pretty expensive to buy a property in Paris, but France has much more to offer than the Eiffel Tower.

Languedoc, France is located along the beautiful Mediterranean Sea. It sees a steady increase in tourism, and purchasing a property in this region can cost you anywhere from $275,041 to $330,049— which isn’t too bad for property overseas.

Italy

Italy’s historic cities of Rome, Venice, and Florence are where you can find some of the most affordable real estate— even more affordable than many of the U.S. cities listed above. You can find properties with a purchase price of $150,000 to $220,000! Combine this with high tourism rates, you’ll definitely be able to place these properties on rental listings and see a return on your investment.

There are plenty of other places in the world that have affordable housing. When investing in a rental property, be sure that the location not only has affordable housing, but also a solid job market and an increasing population.


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