U.S. real estate isn’t going anywhere – if anything, it’s growing more attractive by the hour. As perhaps the most coveted place to live in on Earth, the States are notorious for their ludicrously-high real estate prices in many affluent areas.
This goes for rental properties just as easily as it does for those on sale: make the right real estate investment and you could be set for life just from renting it to tenants. Make a wrong one, and you might find yourself having to sell it at notably less than you paid without having made much money off of renting in-between.
Here are some U.S. cities that are a great choice for rental property investment in nearly every area. If you can invest in a piece of real estate in any of these, you’ll likely be patting yourself on the back for making such a prudent decision a decade from now.
Great US Cities To Invest In
New York, New York: While the Big Apple might not get as much publicity as it once did, it still remains one of the best choices for anyone looking to invest in rental properties – provided they can afford it, that is. From the ‘slummy’ areas with affordable housing to luxurious brimstone neighborhoods with strict ordinances, New York has a little something for everyone, although you’ll definitely want to err towards the latter if you’re looking for value over time.
San Francisco: If New York isn’t getting as much publicity anymore, it’s probably because all the eyes have been focused on ‘SF’ as of late. San Francisco is known as one of the most progressive cities in the world, both in terms of technology and thinking. Want to make a sound investment for the future? A San Francisco rental property isn’t going out of style any time soon – if anything, you’ll find trouble sifting through all those tenants wanting to make SF their new place of residence.
Los Angeles: Every year, thousands upon thousands of aspiring actors and entertainers make their way to Los Angeles in hopes of finding glory. They all have to sleep somewhere, right? LA differs from most other cities because landlords in many areas can afford to drive rental prices up to unrealistic numbers and still get plenty of tenants. Why? Exclusivity, of course. If you can land a property in a particularly attractive location, you won’t just enjoy a constant stream of reliable tenants – you’ll also be able to milk them for everything they’re worth, thereby paying off your initial investment that much sooner.
New Orleans: Here’s a real estate gem that often gets overlooked in favor of its larger and more famous cousins. For what you can do with it, New Orleans real estate is surprisingly affordable compared to some of the other cities – all you’ll need is some business savvy to make the best of your acquisition. Because of the city’s strong tourism and position, New Orleans rental properties can make you rich just from renting to various businessmen looking to open the city’s next beloved shop or service (to speak nothing of the constant stream of visitors looking for the most attractive location for their week off).