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.
Real estate investment expert Barbara Corcoran spoke with GOBankingRates about the cities she predicts will soon see skyrocketing home values.
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.”
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.
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.
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.
With these cities on the rise, now might be the perfect time to consider investing in real estate before prices skyrocket.
