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Best Cities to Invest in Real Estate (2024)

Ranked list of the 25 best US cities for real estate investment. Based on population growth, job market strength, cap rates, and affordability.

#CityPop GrowthJob GrowthCap RateMedianAvg Rent
#1Austin, TX+3.2%+4.1%6.5%$485k$2,100
#2Raleigh, NC+2.8%+3.5%6.8%$385k$1,750
#3Nashville, TN+2.5%+3.2%7.0%$395k$1,800
#4Boise, ID+3.5%+2.8%6.2%$445k$1,800
#5Phoenix, AZ+2.2%+3.0%6.7%$430k$1,950
#6Tampa, FL+2.0%+3.1%6.5%$385k$1,950
#7Charlotte, NC+2.3%+2.9%6.9%$345k$1,650
#8Dallas, TX+1.9%+3.3%6.4%$355k$1,750
#9Atlanta, GA+1.8%+2.7%7.2%$335k$1,700
#10Houston, TX+1.6%+2.5%7.5%$315k$1,650
#11Jacksonville, FL+2.1%+2.6%7.3%$305k$1,550
#12Las Vegas, NV+1.7%+2.8%6.6%$425k$1,900
#13Orlando, FL+2.0%+2.9%6.8%$365k$1,800
#14Denver, CO+1.4%+2.3%5.5%$545k$2,100
#15Seattle, WA+1.0%+2.2%4.8%$765k$2,500
#16Salt Lake City, UT+1.8%+2.6%6.0%$495k$1,950
#17Columbus, OH+1.2%+2.0%8.5%$245k$1,350
#18Indianapolis, IN+1.0%+1.8%8.7%$225k$1,250
#19Kansas City, MO+0.9%+1.7%8.4%$240k$1,300
#20Memphis, TN+0.5%+1.2%9.5%$165k$1,100
#21Cleveland, OH-0.2%+0.8%10.2%$155k$1,050
#22Birmingham, AL+0.4%+1.0%9.2%$185k$1,150
#23San Antonio, TX+1.8%+2.4%6.9%$295k$1,600
#24Greenville, SC+1.6%+2.2%7.4%$285k$1,500
#25Boise, ID+3.5%+2.8%6.2%$445k$1,800

How We Rank

  • Population Growth (25%): Higher = stronger future demand
  • Job Growth (25%): More jobs = more renters/buyers
  • Cap Rate (25%): Higher = better cash-on-cash return
  • Affordability (15%): Lower median prices = easier entry
  • Rent Yield (10%): Rent/price ratio

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