SANTA CLARA, CA — Realtor.com has announced its list of the best U.S. markets for real estate investment in 2024, with Dayton, Ohio emerging as the leading destination. The list highlights opportunities in less conventional yet highly promising areas, particularly in the Midwest and Northeast regions, offering a mix of affordability and growth potential.
The top ten markets, in order, are Dayton, Ohio; Rochester, N.Y.; Cleveland-Elyria, Ohio; Pittsburgh, Pa.; Knoxville, Tenn.; Albany-Schenectady-Troy, N.Y.; New Haven-Milford, Conn.; Buffalo-Cheektowaga, N.Y.; Grand Rapids-Kentwood, Mich.; and Columbus, Ohio.
Danielle Hale, chief economist at Realtor.com, emphasized the importance of selecting markets that are both affordable and in high demand. “For buyers interested in investing in rental properties or other real estate, it’s key to know which areas are both affordable and in high demand to be able to capitalize on any investment opportunities, especially with today’s higher prices and rates,” she explained.
These top markets are characterized by low rental vacancy rates, rising rents, and sustained buyer interest. Realtor.com’s research shows these areas received nearly double the average page views per property compared to national trends, and home prices were about 21.7% lower than the national average, presenting compelling value for potential investors.
In Dayton, the low 4.7% rental vacancy rate and below-average home prices have driven investor interest, with 13.7% of buyers in the first quarter of 2024 being investors. This reflects a growing trend of real estate investment in the region, further bolstered by the city’s affordability and strong demand.
Hannah Jones, a senior economic research analyst at Realtor.com, noted, “As the rental market eases in many areas, the Midwest and Northeast stand out for their combination of affordability and stability. These regions offer investors a prime chance to secure steady rental income and tap into growing demand, making them attractive for both seasoned and first-time investors alike.”
While the Midwest and Northeast lead with stability and growth potential, the South and West regions also present opportunities. Knoxville, Tenn., in the South, and Fresno, Calif., along with Albuquerque, N.M., in the West, have been highlighted for notable demand and price growth, despite higher home prices.
Realtor.com’s report utilized a comprehensive analysis of listing data and public records for the 75 largest U.S. metros, considering factors like listing viewership, home prices, price growth, inventory, and rental vacancy rates to determine the top investment markets. As economic challenges persist, these affordable and demand-driven markets offer promising returns for savvy investors.
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