FIVE “HOT MARKETS” FOR 2023
INDIANAPOLIS, INDIANAPOLIS For a few years, the lack of available inventory in Indiana’s housing markets was a major concern. The state witnessed a boom during the last two years of the pandemic. As mortgage rates rose in 2022, fewer buyers entered the market, resulting in a slowdown; however, Indiana’s housing market continues to outperform the national average. HOUSINGTRENDS.COM SCORES Wealth Phase = Yes | Market Score = 72 | Rent Growth = 58
CAPE CORAL, FLORIDA Cape Coral is a city in Southwest Florida, sandwiched between the ocean and Fort Myers. It is the second-largest city in Florida and the largest city between Tampa and Miami. It is home to more than 204,000 residents. According to the U.S. Census Bureau, the Cape Coral-Fort Myers metro area has had one of the greatest percentage growth rates in the country during the last several years. Cape Coral was ranked seventh among major metropolitan areas in percentage growth from 2010 to 2018, with a 22% increase over that time period. HOUSINGTRENDS.COM SCORES Wealth Phase = Yes | Market Score = 98 | Rent Growth = 99
MEMPHIS, TENNESSEE The low cost of housing and steady growth in Memphis make it an attractive market for investors. The Memphis metropolitan statistical area is the region’s second-largest after Nashville. Fifty-five percent of the Memphis population rents, compared to 34% of the U.S. population, making rental property investing a viable option. Memphis is great for jobs, transportation, and overall living. HOUSINGTRENDS.COM SCORES Wealth Phase = Yes | Market Score = 72 | Rent Growth = 40
JACKSONVILLE, FLORIDA During the last decade, the total cumulative appreciation rate in Jacksonville has been 148.5%, placing it in the top 10% nationally. This amounts to an annual average gain of 9.53%. The median price in November 2022 was $325,000. Steady population growth in Jacksonville provides the perfect market for real estate investors. Jacksonville is the largest city in the state of Florida and the largest city by area in the contiguous U.S. The Jacksonville metro area is the 40th largest in the country and the fourth largest in the state of Florida, behind the Miami, Tampa, and Orlando metropolitan areas. HOUSINGTRENDS.COM SCORES Wealth Phase = Yes | Market Score = 93 | Rent Growth = 94
MONTGOMERY, ALABAMA Montgomery, Alabama, is a good cash-flow market due to the strong demand for rental housing. This is not entirely due to the eight or more colleges and universities in the city. The cost of living in Montgomery is lower than the U.S. average. Montgomery has seen its job market increase by 1.1% during the last year, and future job growth in the next 10 years is predicted to be more than 30%. HOUSINGTRENDS.COM SCORES Wealth Phase = Yes | Market Score = 62 | Rent Growth = 31
4 :: INVESTOR REVIEW :: MAR-APR 2023
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