NEW YORK – Feb. 3, 2016 – Where should real estate investors put their money in 2016? Forbes teamed up with North Carolina-based data company Local Market Monitor to produce its list of 2016 Best Buy Cities – the top 20 housing markets to invest in this year – and Florida dominates the list.
According to Forbes, Florida offers good values "where investors get the best bang for their housing buck, and where aspiring homeowners have the best prospects of making an economically sound purchase."
Orlando took second place and was followed by six other Sunshine State cities. Among them, average home prices are highest in West Palm Beach (No. 19) at $285,000 and lowest in Tampa (No. 14) at $193,000. The averages, though, have been accelerating at a rate of 9 percent to 14 percent in all the Florida cities.
Florida's domination of the list makes a lot of sense in light of the national economic recovery, says Ingo Winzer, founder and president of Local Market Monitor. "Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered," he reasons.
"Best-buy" markets for 2016 housing
1. Grand Rapids
2. Orlando, Florida
3. San Antonio, Texas
4. Charlotte, North Carolina
5. Salt Lake City
6. Dallas
7. Austin, Texas
8. Fort Lauderdale, Florida
9. Seattle
10. Cape Coral, Florida
11. Indianapolis
12. North Port, Florida
13. Nashville, Tennessee
14. Tampa, Florida
15. Charleston, South Carolina
16. Denver, Colorado
17. Madison, Wisconsin
18. Jacksonville, Florida
19. West Palm Beach, Florida
20. Boise, Idaho
Forbes' full list is also posted online.
Source: Forbes (01/27/16) Carlyle, Erin
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