If you’re looking to enter the real estate investing world next year, now is a good time to start thinking about where to buy property. The best places to buy typically have a growing population, affordable homes and a thriving job market.
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GOBankingRates spoke with Kurt Carlton, president and co-founder of New Western, a private source of residential investment properties, to get his predictions for the markets that will be huge for real estate investing in 2024.
Atlanta; Charlotte, North Carolina; Tampa, Florida; and Dallas-Fort Worth
Carlton believes that a number of the recent top markets will continue to be hot leading into 2024.
“Top markets for investors that we have seen emerge over the last few months include Atlanta, Charlotte, Tampa and Dallas-Fort Worth,” he said. “In Q3, Realtor.com released the top 10 growing metropolitan areas that people are looking to move to, also highlighting Atlanta, Dallas, Tampa and Charlotte.”
In addition to their growing populations, there are a few other factors that make these places appealing markets for real estate investors.
“These markets are ripe for both homeowners and investors because of the relatively low cost of living and healthy job markets,” Carlton said. “They are also attracting more Fortune 500 companies in various industries, which is driving job growth and adding to their strong economies. Further, Florida and Texas have no state income tax, which often makes them appealing places to live and work.”
Sun Belt Cities
It’s not just the major metros that will be popular with investors in 2024.
“We have found that investors are also targeting smaller but growing cities in the Sun Belt region, which have become increasingly popular with homebuyers in recent years,” Carlton said. “These cities include places like Raleigh, [North Carolina]; Birmingham, [Alabama]; and Tulsa, [Oklahoma]. We expect the momentum to continue into 2024, driving investor demand.”
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This article originally appeared on GOBankingRates.com: I’m a Professional Real Estate Investor: These Are the 5 Markets I’m Predicting Will Be Huge in 2024
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