MARKET & TRENDS
LOCAL MARKET MONITOR
Making It Again MANUFACTURING TOWNS THAT COULD PRODUCE INVESTOR PROFITS.
JOB GROWTH (12 MOS)
HOME PRICE INCREASE (12 MONTHS)
HOME PRICE (THOUSANDS)
MONTHLY RENT
LOCAL MARKET MONITOR
MANUFACTURING
TOTAL
Tuscaloosa, AL
5.8%
3.1%
5%
$193
$846
by Ingo Winzer
Spartanburg, SC
5.6%
2.2%
11%
$179
$842
M
anufacturing jobs left Amer- ica, and they left devastated
returns you can get in these markets can more than make up for that. "Our Investors Metro Mon- itor shows you the risks and opportunities in 200 mar- kets across the country, at www.LocalMarketMonitor.com." •
This month we're showing 10 manufacturing towns where the possibilities for investment in rent- al properties are good and where you won't find much competition. These are mid-sized markets where manufacturing jobs grew at a rapid rate in the past year, pull- ing other jobs along and creating good demand for housing as shown by the higher home prices. In most of these markets (Greeley is the exception) home prices are modest and investors can immedi- ately rent out single-family homes without much additional expense. There's always a risk. Manufactur- ing isn't a sure bet anymore, but the
Greeley, CO
4.4%
2.5%
8%
$328
$1,079
real estate markets behind. For decades, the Rust Belt was the symbol of economic decline, popu- lation loss, and depressed property values. Who in their right mind would want to invest in old manu- facturing towns? Well, you might want to. The shake-out of industries that can't compete is pretty much over and demand for US-made goods is grow- ing again. For a lot of reasons, a lot of manufacturing is best done very close to your market, and modern automated factories can produce su- perior products at moderate prices.
Reading, PA
3.4%
0.8%
5%
$191
$914
Chattanooga, TN
3.2%
1.9%
7%
$220
$829
St. Cloud, MN
3.2%
1.6%
4%
$202
$834
Wichita, KS
3.0%
1.8%
6%
$166
$835
Ingo Winzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in em- ployment and population. Winzer, who
Fort Wayne, IN
2.9%
1.8%
6%
$172
$782
has 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.
Waco, TX
2.4%
1.1%
4%
$201
$867
Bowling Green, KY
2.3%
1.9%
5%
$159
$784
Source :: Local Market Monitor, 2019
80 | think realty housing news report :: december 2019
thinkrealty . com | 81
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