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
92 | think realty magazine :: november / december 2019
thinkrealty . com | 93
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