Home Values Have Increased By 354% in One City — and It’s Not in California or New York
Properties in Oregon and Idaho also saw much higher-than-average returns.
Real estate has long been touted as one of the best long-term investments — but buying in certain areas can be extra lucrative.
Among 400 cities ranked by average home price growth since 1998, Austin is at No. 1; its home values have skyrocketed 354% over the past 25 years while those in other metro areas have risen an average of 154% from the first quarter of 1998 through the fourth quarter of 2022, according to a recent reported by .
Related: 10 Reasons Why Every Â鶹Éç Should Invest in Real Estate
The population in the Austin-Round Rock-Georgetown metro area has nearly doubled over the past several decades, per the survey. People are drawn to the area’s lower cost of living, more-favorable tax laws and, in some cases, rising status as a tech hub.
In 2021, the city was especially popular with startup founders and venture capitalists, reported. The latter invested more than $5.5 billion across 412 deals in 2021, more than double the amount of capital invested in 2020, according to .
Perhaps not surprisingly, the rest of the top 15 markets ranked by price growth are predominantly in large coastal cities in California and Florida, per the survey.
Related: 8 Proven Ways to Make Money in Real Estate | Â鶹Éç
But markets in Bend, Oregon; Boise and Coeur d’Alene Idaho; and Seattle, Washington also made the top 10.
Real estate has long been touted as one of the best long-term investments — but buying in certain areas can be extra lucrative.
Among 400 cities ranked by average home price growth since 1998, Austin is at No. 1; its home values have skyrocketed 354% over the past 25 years while those in other metro areas have risen an average of 154% from the first quarter of 1998 through the fourth quarter of 2022, according to a recent reported by .
Related: 10 Reasons Why Every Â鶹Éç Should Invest in Real Estate
The population in the Austin-Round Rock-Georgetown metro area has nearly doubled over the past several decades, per the survey. People are drawn to the area’s lower cost of living, more-favorable tax laws and, in some cases, rising status as a tech hub.
In 2021, the city was especially popular with startup founders and venture capitalists, reported. The latter invested more than $5.5 billion across 412 deals in 2021, more than double the amount of capital invested in 2020, according to .
Perhaps not surprisingly, the rest of the top 15 markets ranked by price growth are predominantly in large coastal cities in California and Florida, per the survey.
Related: 8 Proven Ways to Make Money in Real Estate | Â鶹Éç
But markets in Bend, Oregon; Boise and Coeur d’Alene Idaho; and Seattle, Washington also made the top 10.
