What’s the best bet for investors in real estate in 2024? Realtor.com® data suggests that homes in neighborhoods with good affordability and high listing viewership may be a starting point. In fact, the top 10 markets for investing drew nearly twice the viewership on listings than the national average, according to Realtor.com’s data.
For investors chasing consistent cashflow, the best bets seem to be markets with less of an associated price tag. Rentals with low vacancy rates were also a primary factor when coupled with good affordability and high demand.
In keeping with these ideals, Realtor.com named many midwestern and northeastern markets as top investment spots, with geographical outliers in New Mexico and California. Dayton, Ohio, exemplified the ideal market to invest in, with a rental vacancy rate of 4.7%, which is less than the national average of 6.6%—and a median listing price of $239,00, well below the national average of $427,000.
Other top markets to invest in included Rochester, New York, and Pittsburgh, Pennsylvania, with vacancy rates of 4.5% and 6.3%, respectively, both less than the national average. Rochester’s median listing price was $265,000, while Pittsburgh’s $246,000 was slightly more affordable, according to Realtor.com’s data.
These figures showcase the fact that major metros—Chicago, New York, San Francisco and Miami were notably absent—might be less of a sure bet for investment purposes, as most of the metros included on the list were somewhat removed from the largest markets in the country.
The amount of investors in these metros since 2019 also increased by 4.4%, showing a willingness to make smart moves in these markets, though as a percentage of total buyers, the 13.8% of investors involved in the market was a percentage point lower than the national average of property owners who were investors.
