If you’re looking for ideas of where to invest, check out our list of the best states for property investment in 2022.
What Makes a State Good for Property Investment?
There are numerous factors to consider when buying an investment property, but we’ve all heard the old saying about the three most essential factors in real estate: location, location, location. One of the most critical factors is the state the property resides in.
A state’s viability for investment usually comes down to three main factors—rising housing prices, population growth, and a solid job market.
Regarding housing prices, you want to see a state that’s seen steady growth and has proven to be stable and reliable. Growth should occur not over just a few months or a year but over many years.
A strong job market and population growth typically go hand in hand with rising house values. After all, if there aren’t many jobs, people won’t want to live there or move there and won’t be willing to pay more for a house.
A state that hits all three marks is your ideal spot for investment.
Here’s our unranked list of some of the best states for property investment in 2022.
Best State for Property Investment in 2022
Already the second-biggest state, Texas grows its population year after year thanks to a steady and robust job market. There’s no shortage of growing cities in Texas, with Dallas, Austin, Houston, and San Antonio seeing population booms coupled with solid job growth.
Texas also has some of the most business and investment-friendly tax laws, including no state property or income tax.
If you’re thinking of investing in a vacation or rental property, few states offer the advantages that Florida does. Florida is a vacation destination for the rest of the country and is also one of the fastest-growing states in the US.
Florida’s job market has been steady and healthy since 2000, with the state’s population and housing prices rising too. If you want to invest in a vacation home that you can rent out for some extra income, Florida is as good as it gets.
California is the biggest state and continues to be the country’s highest job market, thanks to many industries calling the state home.
Whether you’re talking about the established metros like Los Angeles and San Francisco or fast-growing markets like San Diego or Sacramento, California has a bounty of options for property investment with loads of potential.
Georgia may be the smallest state on our list, but it still has plenty of potential. Experts predict that Georgia will see a population increase of over 1 million residents between 2020 and 2030.
Those new residents will need somewhere to live, so now is the time to get in on Georgia property, where there’s significant potential for increased valuation over the coming years.
The average Georgia home’s value has increased by over 60 percent in the past five years, and signs point to that trend continuing.
Investing in property is right now a safe and reliable option, but we all know that nothing’s guaranteed. Do the proper research and make sure your finances can withstand a wrong investment before any final decision.
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