Whether you’re a homeowner, an appraiser, a title officer, or otherwise involved in real estate investing, you’ve probably haven’t been thrilled with the downward slide the national real estate market has taken in the last few years. You may be interested to take a look, however, at the ten strongest real estate markets in the good ole U.S. of A., both as models of resiliency and reasons for hope. Without further ado, they are:
1. Boulder, CO
Boulder boasts several strong advantages, including an already affluent resident base, many strong employers (including the University of Colorado), and the physical limitations on development imposed by the surrounding mountain slopes.
It’s also, incidentally, on the Top 5 Drinking Cities in America list, which certainly doesn’t hurt the entertainment/hospitality business!
2. Spartanburg, SC
With the highest college student population per capita in South Carolina, Spartanburg is largely buffered from the economic and real estate market declines, as jobs and outside money are plentiful. It’s also the world headquarters of Denny’s, a behemoth in the low-end restaurant market.
3. New Orleans, LA
New Orleans benefits from a torrent of federal dollars flooding in and massive construction and rebuilding efforts. Tourism dollars help somewhat, as does the relatively strong local energy industry.
4. Binghamton, NY
Binghamton’s home values did not surge to lofty heights in the real estate bubble, and hasn’t plummeted in the subsequent burst. Slow and steady continues to win their race against the rest of us.
5. Fayetteville, NC
With Pope Air Force Base and Fort Bragg just around the corner, Fayetteville benefits from consistent military jobs, and a strong local arts community.
6. Pittsburgh, PA
Once upon a time, Pittsburgh was entirely dependent on the steel industry, and was dealt a near-fatal blow when the industry moved offshore. In recent years, however, Pittsburgh has succeeded in reinventing its economy through the biomedical, health, and education industries, with many local colleges helping to stabilize economic activity.
7. Little Rock, AR
Like Binghamton, Little Rock’s real estate values didn’t shoot upward, and didn’t crash afterwards either, in large part due to their stable health care, government, and university jobs, and their growing wind energy industry.
8. Gainesville, GA
Located by the scenic Lake Lanier, Gainesville has remained strong in fields including higher education, retail, and medical.
9. Burlington, NC
Once renowned for its textile industry, Burlington now benefits from being the world headquarters of LabCorp, and will soon boast a Honda manufacturing center for small commercial jets.
10. Oklahoma City, OK
As the state capital, Oklahoma City is home to many stable government jobs, along with a thriving energy sector in oil and natural gas.
Real estate investing, whether as a profession or as a homeowner, has been hard in the last few years, but it won’t be hard forever. Keep on keeping on, and take hope in the fact that many markets around the country are starting to recover.
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