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Barbara Corcoran: 3 Cities To Invest in Real Estate Now Before Prices Skyrocket
By Gabrielle Olya,
11 days ago
The real estate market is ever-changing, so cities that are affordable now may not be in a matter of years. If you’re looking to buy an investment property , it’s always ideal to buy when prices are still low.
Barbara Corcoran’s Best Cities for Real Estate Investing
Corcoran, who is one of GOBankingRates’ Money’s Most Influential Women , said that she is personally investing in cities where she expects home prices will soon increase.
“I’m investing heavily in places like Pittsburgh, [Pennsylvania], Columbus, [Ohio] and Indianapolis,” she said. “They have a young, educated population with lots of job growth and big companies in the area.”
Here’s a closer look at why these cities provide good investment opportunities.
Pittsburgh, Pennsylvania
The average home value in Pittsburgh is $227,329, up 6.2% over the past year, according to Zillow. The city has long been home to a thriving steel industry, but is also a hub for industries including advanced manufacturing, climate tech, and distribution and logistics.
It’s also home to 88 colleges and universities, and 33% of the working population holds four-year degrees or higher.
The average home value in Columbus is $243,838, a 6.9% increase over the past year, according to Zillow. Homes are already in high demand here — the average home goes to pending in around five days.
According to TheColumbusRegion.com, the city has the third-best business climate in the nation. Major brands such as ScottsMiracle-Gro, Express, JPMorgan Chase, Nationwide and Abercrombie & Fitch are located there.
Indianapolis
The average Indianapolis home value is $224,099, up 2.3% over the past year, according to Zillow. The city boasts a diverse economy, with major contributions from the education, healthcare and finance sectors, Forbes reported.
It’s also a hub for sports tourism as the host of numerous conventions and sporting events, including the Indianapolis 500.
Jaime Catmull contributed to the reporting for this article.
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