Investing in real estate can be a lucrative, quick way to build wealth. The problem is most people get stuck on the wrong market at the wrong time, causing them to lose money.
Some investors overlook small cities that can invest and homeownership because they aren’t as big or high-profile as larger cities like Los Angeles and New York City. Still, investors need to remember these smaller markets are often overlooked precisely because they are smaller and don’t draw as much attention from buyers, sellers, or investors.
These are five under-the-radar, smaller U.S. cities that are overlooked by most investors because they lack the high-visibility large cities so many of us enjoy. Enjoy the descriptions, key stats, ease of commute, fun things to do in town, average home price, and market highlights that you might wish to highlight as points of interest when choosing a market or an investment property or two.
Here are five underrated U.S. cities for real estate investing:
Syracuse, NY
It’s the third-largest city in Upstate New York and the fourth-largest city in New York State. It’s also well below the national average of home prices, with an average price per square foot that’s nearly half of the national average.
The average commute here is under 25 minutes, making it an attractive market for retirees looking to switch gears from a long commute to a shorter commute. There are also some great historical attractions and many fun things to do in town, such as the Rosamond Gifford Zoo, Lakeview Amphitheater, and Onondaga Historical Association – all of which draw thousands of visitors every year.
Syracuse also has a strong community of high-tech companies, and the city is known for its educational system, which draws a large number of students from out of state.
Buckeye, AZ
This Phoenix suburb of about 70,000 residents is located in the Maricopa County School District and draws prospective homeowners interested in affordable homes and a great family-friendly environment. Buckeye came in second place on CNNMoney’s “10 Best Places to Live and Launch.”
The average home price of a Buckeye home for sale is about $422,000, with the average price per square foot at $225. A short commute of about 35 minutes to downtown Phoenix will keep residents away from the city’s traffic and congestion. You’ll find great shopping, dining, and entertainment with a wide selection of affordable blocks.
If you’re an outdoors enthusiast, Buckeye is a great place to call home. In addition, you can expect beautiful hiking and biking trails in the community that start in nearby Sky Harbor Airport.
The city also has various other things to do, including an arts and culture scene, local theaters, parks, sports facilities, a lake for fishing and boating, two golf courses, and a zoo. Add to that affordable homes near family-friendly activities and the low cost of living here make this city one of the most attractive places for homeowners to live.
Eagle, ID
This small town is located in the largest metropolitan area in the state (Meridian) and has about 26,000 people. It is about 53 minutes from Boise, 80 minutes from Salt Lake City, and 120 minutes from Denver. The average home price in Eagle is about $359,000 with a square-foot cost of just $64.
The city’s strong community spirit makes it a great place to raise a family and create lifelong memories. Eagle is home to the Idaho Shakespeare Festival and The Rockies Museum. Eagle has a four-season climate and idyllic Rocky Mountain environment.
The area surrounding this small city is known as the (Boise) Treasure Valley, a highly-populated area that’s considered one of the hottest regions in the country for real estate investment because it’s still an affordable market. In addition, this area is prime for a short commute to the greater Boise area, which has one of the best public schools in the country.
Marietta, GA
This small town of about 60,000 residents is located in the Metro Atlanta area and is just a 30-minute drive from downtown Atlanta. It’s home to many major corporations that draw professionals from surrounding cities and has been classified as one of the top 10 leading cities for job growth.
Some real estate experts consider Marietta as having a diamond in the rough because it has good educational institutions, great shopping centers nearby, and short commute times to work.
The city was ranked as one of the top 10 cities for job growth, promising homebuyers in the future. The average home price is $182,000 with a square-foot cost of only $59. Some of the fun things to do in the town include the Big Chicken, a popular tourist attraction.
Benbrook, TX
This small town of about 23,000 residents is located in the Fort Worth area. It’s also located near Dallas and extends over Interstate-20, connecting to Dallas-Fort Worth International Airport. The average home price here is $250,000, with an average cost per square foot of $104.6.
The average commute time here is 30 minutes, which is slightly longer than the national average. If you’re looking to get into real estate investing here, you’ll find a small city with very little to offer for the average consumer. Known for its rich history and beautiful scenery, Benbrook has an extensive selection of recreational opportunities, including golf courses, parks, and green belts.
The town is also home to the Fort Worth Stock Show & Rodeo, which takes place each January through mid-February. In addition, the town has a rich agricultural history, with family farms dotting the county.
Many investors choose this area as their home base for real estate investing because of the access to a growing population, low property prices, and easy commute times.
In conclusion, if you’re looking for real estate investment opportunities in the United States, you’ll have a lot to choose from. The key is finding the sweet spot that offers low property prices and short commute times. In addition, you’ll want to look for a city with various factors, such as a stable economy, an excellent educational system, and low crime rates. All the cities on this list are among the best places to invest in real estate in the United States.