MARKET & TRENDS
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Healthy Returns HOW REGIONAL SERVICE MODELS ARE AFFECTING REAL ESTATE.
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by Ingo Winzer
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T he U.S. economy keeps evolving toward a regional service mod- el, where urban centers concen- trate certain specialized services that are available to a wide regional population. This is especially true with healthcare, which is increas- ingly complex and is most efficient when clustered together. Regional healthcare centers there- fore are an attractive place to invest in rentals, even if the local economy isn't otherwise compelling. You'll want to locate properties that are close to hospitals, medical offices, or
investment returns for many years. "Our Investors Metro Mon- itor shows you the risks and opportunities in 200 mar- kets across the country, at www.LocalMarketMonitor.com." •
(sometimes) a medical school. Look at these 15 markets. Healthcare provides around 20 percent of all local jobs, and the number of those jobs grew at a fast clip in the past year. The good increase in home prices in these markets in the past year (except in Hartford, Syracuse and New Haven) also means that demand for housing (single-family and rental) is strong. With a few exceptions, these aren't sexy investment locales, but they're likely to give you healthy
IngoWinzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employ- ment and population. Winzer, who has
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analyzed real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston University. Winzer resides in Cambridge, Mass.
HEALTHCARE JOBS
HOME PRICES (12 MONTHS)
HOME PRICE (THOUSANDS)
MONTHLY RENT
LOCAL MARKET MONITOR
PCT OF TOTAL
GROWTH (12 MOS)
Spokane, WA
19%
4.1%
12%
$266
$887
Lancaster, PA
18%
3.6%
5%
$218
$1,024
Milwaukee, WI
18%
3.4%
6%
$235
$901
North Port-Bradenton, FL
18%
3.3%
6%
$328
$1,258
Fort Wayne, IN
18%
3.1%
10%
$169
$769
New Haven, CT
28%
2.7%
2%
$236
$1,153
Providence, RI
21%
2.7%
5%
$294
$942
Asheville, NC
19%
2.6%
6%
$284
$929
Syracuse, NY
20%
2.5%
3%
$164
$852
Springfield, MA
21%
2.4%
5%
$231
$938
Deltona-Daytona Beach, FL
20%
2.0%
6%
$229
$1,096
Provo, UT
21%
1.8%
10%
$300
$1,067
Winston-Salem, NC
22%
1.8%
6%
$202
$756
Springfield, MO
19%
1.3%
6%
$166
$755
Hartford, CT
18%
1.3%
3%
$223
$1,102
Source :: Local Market Monitor, 2019
14 think realty housing news report
october 2019 15
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