The real estate market is ever-changing, so cities that are affordable now may not be in a matter of years. If you’re looking to buy an investment property, it’s always ideal to buy when prices are still low.
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Real estate investment expert Barabara Corcoran spoke with GOBankingRates about the cities she predicts will soon see skyrocketing home values.
Barbara Corcoran’s Best Cities for Real Estate Investing
Corcoran, who is one of GOBankingRates’ Money’s Most Influential Women, said that she is personally investing in cities where she expects home prices will soon increase.
“I’m investing heavily in places like Pittsburgh, [Pennsylvania], Columbus, [Ohio] and Indianapolis,” she said. “They have a young, educated population with lots of job growth and big companies in the area.”
Here’s a closer look at why these cities provide good investment opportunities.
Pittsburgh, Pennsylvania
The average home value in Pittsburgh is $227,329, up 6.2% over the past year, according to Zillow. The city has long been home to a thriving steel industry, but is also a hub for industries including advanced manufacturing, climate tech, and distribution and logistics.
It’s also home to 88 colleges and universities, and 33% of the working population holds four-year degrees or higher.
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Columbus, Ohio
The average home value in Columbus is $243,838, a 6.9% increase over the past year, according to Zillow. Homes are already in high demand here — the average home goes to pending in around five days.
According to TheColumbusRegion.com, the city has the third-best business climate in the nation. Major brands such as ScottsMiracle-Gro, Express, JPMorgan Chase, Nationwide and Abercrombie & Fitch are located there.
Indianapolis
The average Indianapolis home value is $224,099, up 2.3% over the past year, according to Zillow. The city boasts a diverse economy, with major contributions from the education, healthcare and finance sectors, Forbes reported.
It’s also a hub for sports tourism as the host of numerous conventions and sporting events, including the Indianapolis 500.
Jaime Catmull contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: Barbara Corcoran: 3 Cities To Invest in Real Estate Now Before Prices Skyrocket
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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