The Best Places to Buy a Home in the U.S. for an Increase in Value
Home sales in certain real estate markets in the U.S. have seen a record surge in the past two years. From oceanfront homes in Florida to mountain cottages in Colorado, buyers are looking for residences that offer modern amenities, beautiful views, and a great return on investment.
But it turns out that if long-term home value is your main priority, your best bet is searching for a property in Texas. According to a newly released report by SmartAsset, six of the 10 "best markets for growth and stability" are in the Lone Star State.
The top spot goes to the Austin-Round Rock-Georgetown area, where home prices have increased almost 370 percent since 1997, the highest among the 400 metro areas surveyed by SmartAsset. At the same time, investing in a property here has a 0 percent chance of a price drop within 10 years of the purchase date.
Boulder, Colorado ranked no. 2 in the survey of where a home purchase is likely to offer a significant return on investment. The city's home price index rose by 277 percent over the last 25 years and has only a 1 percent chance of a price drop, making it one of the country's most stable real estate markets. The no. 3 rank went to Midland, Texas, known as the Tall City for its impressive skyline, where home prices have risen 266 percent since 1997.
San Angelo, Odessa, Dallas, and Houston are the other Texas urban areas where purchasing real estate is considered by the survey to be an excellent investment.
SmartAsset also analyzed the worst performing cities for long-term home value. Flint and Monroe in Michigan and East Stroudsburg in Pennsylvania are at the bottom of the list.