Think-Realty-Magazine-November-December-2019

MARKET & TRENDS

LOCAL MARKET MONITOR

PRICES VS INCOME PRICE

JOB GROWTH (12 MONTHS)

HOME PRICE INCREASE (12 MOS)

HOME PRICE (THOUSANDS)

MONTHLY RENT

PRICE/RENT RATIO

LOCAL MARKET MONITOR

Huntsville, AL

-17%

2.4%

6%

$200

$831

20

Good Deals

Cincinnati, OH

-12%

2.2%

6%

$213

$839

21

Visalia, CA

-12%

2.1%

4%

$230

$966

20

IT’S ALWAYS BEEN ALL ABOUT LOCATION, AND IT STILL IS.

Jackson, MS

-16%

2.0%

5%

$180

$906

17

by Ingo Winzer

Memphis, TN

-13%

1.8%

5%

$197

$929

18

ith all the news about hot home prices on the coasts and

Investors Metro Monitor shows the risks and opportunities in 200 mar- kets across the country. See more at www.LocalMarketMonitor.com. •

because jobs are growing well and demand for housing, as shown by increases in home prices in the last 12 months, is good. Furthermore, the ratio of home prices to rents is 21 or less, which means that investors can make a straight investment in single-fam- ily homes without subdividing or upgrading. And the cost of investing is low — $200,000 or less. These aren't high-growth mar- kets, you'll need to pick and choose the right locations, but there's a good chance you'll land a good deal.

Fort Wayne, IN

-12%

1.8%

6%

$172

$782

18

W

the dubious joys of big city living, investors might think those are the only places worth looking at. But some of the best deals can be found in places you haven't heard about for a while. Here are a dozen of them. These are places where home prices still haven't recovered from the great recession and have lots of room on the upside. Prices are still well below the 'income' price that relates to local income. The upside is looking pretty good

Wichita, KS

-15%

1.8%

6%

$166

$835

17

Omaha, NE

-11%

1.8%

6%

$212

$942

19

Syracuse, NE

-18%

1.8%

4%

$170

$865

16

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

St. Louis, MO

-12%

1.8%

4%

$203

$919

18

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.

Springfield, MO

-14%

1.7%

6%

$170

$763

19

El Paso, TX

-12%

1.7%

5%

$170

$873

17

Source :: Local Market Monitor, 2019

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