As a real estate investor, one of the most important things to figure out early on is location. Once you know what the best states are, then you can start looking for rental properties to invest in there.
When I’m looking to buy real estate, I follow the people.
Look at where massive migration is happening. Recent reports from the United States Census Bureau and Rent.com confirm that people are moving towards urban areas with great weather and great taxes.
As a result, the average rent price has boomed in all of these places, which makes them perfect for long-term real estate investing.
So, what are some of the best states for investing in rental properties?
A bunch of tech companies have been expanding or moving their headquarters to Atlanta, from Airbnb to Calendly. By 2040, government authorities expect that more than 1.9 million jobs will be created because of this.
|Population Growth Percentage||0.8%|
|Numeric Population Growth||73,766|
|Average Rent Price||$1,459|
|Year-over-Year Rent Change||36.66%|
No wonder more than 73K people moved to Georgia last year alone, resulting in a a 36% increase in rent prices.
I moved my family and businesses from California years ago, and a lot of people seem to be doing the same these days.
For those who want to stay close by, Nevada’s their go-to hot spot.
|Population Growth Percentage||1.0%|
|Numeric Population Growth||29,920|
|Average Rent Price||$1,689|
|Year-over-Year Rent Change||19.98%|
And for investors, the good news is that Nevada’s housing market is projected to keep on growing.
Look, Houston and Austin are some of the hottest multifamily markets in the country, period.
|Population Growth Percentage||1.1%|
|Numeric Population Growth||310,288|
|Average Rent Price||$1,259|
|Year-over-Year Rent Change||17.99%|
Add that to more than 310K residents moving to Texas last year, and you’ve easily got one of the best states for investing in multi-family rental properties.
With a monster 49.35% boom in rent prices from 2020 to 2021, it’s clear that Arizona should be on your REI radar.
|Population Growth Percentage||1.4%|
|Numeric Population Growth||98,330|
|Average Rent Price||$1,553|
|Year-over-Year Rent Change||49.35%|
Even more, Phoenix, specifically, has shown up as one of the top 10 multifamily sales markets throughout the past 10 years.
Finally, there’s the king of all real estate kings — Florida. I’ve invested in countless multi-family properties here and they’ve all created wealth for me.
In South Florida, you have endless opportunities in red-hot markets. Fort Lauderdale. Boca Raton. Stuart. Miami. Aventura. There’s plenty to choose from, and all of them are sure to generate cash flow for years to come.
|Population Growth Percentage||1.0%|
|Numeric Population Growth||211,196|
|Average Rent Price||$2,021|
|Year-over-Year Rent Change||48.36%|
Florida has the highest average rent price on this list — $2,021, which nearly doubled from last year. More and more people will continue to move here, making it the #1 state for investors by a mile.
So, are you ready to take advantage of the best states for investing in rental properties?
Access my free Real Estate Training and see how I did it.
Disclosure: This content is intended to be used for educational and informational purposes only. Before investing, you should always do your own analysis based on your own financial and personal circumstances before making any investment. Grant Cardone is an industry expert who has been investing for over 30 years and his opinion is based solely on his own personal experience and circumstances. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment. Investment involves great risk and there is no guarantee of performance or results.
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