Today, we’ll cover the Top 10 States with the best real estate market in 2024. We will use a statistical analysis of 890K real estate listings and 1-year real estate growth forecasts across 894 U.S. cities and 50 states.
US real estate is perpetually in flux, influenced by economic conditions and demographic trends.
However, specific states have emerged as beacons of opportunity for homebuyers and investors, showcasing robust regions that promise growth, stability, and potential returns.
Based on the latest data and forecasts, let’s explore 10 states that stand out for their promising housing markets.
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5-Year U.S. Growth Forecast (2024-2028)
- Josh Rapaport, Founder & CEO of District Lending, estimates that home prices will continue to increase by ~3-4% annually between 2024 and 2028.
- Dr. Lawrence Yun, the Chief Economist and Senior Vice President of Research at the National Association of Realtors, expects an appreciation of 15% to 25% over the next five years.
- Greg McBride, Bankrate’s Chief Financial Analyst, predicts that home prices will average low to mid-single-digit annual growth over the next five years.
What are the Hottest Real Estate Markets 2024?
Here’s a list of 21 States and 60 Cities with the hottest real estate markets in 2024.
This list contains real estate markets estimated to increase in value by 7% or more by February 2025:
| City | State | 1-Year Growth Increase Estimate (%) |
| Thomaston, GA | GA | +10.2% |
| Clewiston, FL | FL | +9.9% |
| Jackson, WY | WY | +9.3% |
| Wauchula, FL | FL | +8.9% |
| Steamboat Springs, CO | CO | +8.7% |
| Mountain Home, ID | ID | +8.7% |
| Butte, MT | MT | +8.7% |
| Cedartown, GA | GA | +8.6% |
| Lewiston, ME | ME | +8.6% |
| Crossville, TN | TN | +8.6% |
| Sanford, NC | NC | +8.4% |
| Calhoun, GA | GA | +8.3% |
| Knoxville, TN | TN | +8.3% |
| Price, UT | UT | +8.3% |
| Heber, UT | UT | +8.2% |
| Edwards, CO | CO | +8.1% |
| Palatka, FL | FL | +8.1% |
| Toccoa, GA | GA | +8.1% |
| Atlantic City, NJ | NJ | +8.1% |
| Okeechobee, FL | FL | +8% |
| Pocatello, ID | ID | +8% |
| Augusta, ME | ME | +8% |
| Cornelia, GA | GA | +7.9% |
| East Stroudsburg, PA | PA | +7.8% |
| Lake City, FL | FL | +7.7% |
| Sebring, FL | FL | +7.5% |
| Boise City, ID | ID | +7.5% |
| West Plains, MO | MO | +7.5% |
| Kalispell, MT | MT | +7.5% |
| Wilson, NC | NC | +7.5% |
| McMinnville, TN | TN | +7.5% |
| Coeur d’Alene, ID | ID | +7.4% |
| Connersville, IN | IN | +7.4% |
| Kingston, NY | NY | +7.4% |
| Ontario, OR | OR | +7.4% |
| Statesboro, GA | GA | +7.3% |
| Hailey, ID | ID | +7.3% |
| Berlin, NH | NH | +7.3% |
| Laconia, NH | NH | +7.3% |
| Frankfort, IN | IN | +7.2% |
| Vincennes, IN | IN | +7.2% |
| Saginaw, MI | MI | +7.2% |
| Boone, NC | NC | +7.2% |
| Lumberton, NC | NC | +7.2% |
| Payson, AZ | AZ | +7.1% |
| Show Low, AZ | AZ | +7.1% |
| Hartford, CT | CT | +7.1% |
| Twin Falls, ID | ID | +7.1% |
| Albemarle, NC | NC | +7.1% |
| Kill Devil Hills, NC | NC | +7.1% |
| Shawnee, OK | OK | +7.1% |
| Vernal, UT | UT | +7.1% |
| Norwich, CT | CT | +7% |
| Athens, GA | GA | +7% |
| Savannah, GA | GA | +7% |
| Logansport, IN | IN | +7% |
| Brevard, NC | NC | +7% |
| Laurinburg, NC | NC | +7% |
| Rochester, NY | NY | +7% |
| Greeneville, TN | TN | +7% |
State with Best Growth Forecast
- Idaho’s one-year growth forecast is +6.81%, based on an analysis of 894 U.S. cities across 50 states.
- Florida came in at #2, with a 1-year growth forecast of +6.21%.
- For context, the U.S. 1-year growth forecast is +4.20%.
Top 10 States with the Best Real Estate Options in 2024
- Texas
- Florida
- North Carolina
- Georgia
- Arizona
- Utah
- Colorado
- Idaho
- Tennessee
- Nevada
#1. Texas – Average Home Value: $296,582
The Lone Star State continues to attract residents with its strong job growth, lack of state income tax, and diverse economy. Cities like Austin, Dallas, and Houston offer a hard-to-beat mix of affordability, job growth, and quality of life. The state benefits from a balanced supply and demand, keeping prices stable while offering plenty of opportunities for investment and homeownership.
Outlook:
It is likely to remain robust due to strong economic growth and continued in-migration, although housing affordability issues in the hottest markets may begin to moderate price increases.
Texas Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Housing Market Forecast (Increase/Decrease by %) |
| McAllen | TX | 6.8 |
| Brownsville | TX | 6.3 |
| Jacksonville | TX | 6.2 |
| Stephenville | TX | 6.1 |
| Waco | TX | 5.6 |
| El Paso | TX | 5.3 |
| Wichita Falls | TX | 5.3 |
| Corsicana | TX | 5.2 |
| Hereford | TX | 5.2 |
| Sherman | TX | 5.1 |
| Mount Pleasant | TX | 5 |
| Tyler | TX | 4.9 |
| Mineral Wells | TX | 4.8 |
| Palestine | TX | 4.8 |
| Gainesville | TX | 4.7 |
| Killeen | TX | 4.6 |
| Dallas | TX | 4.4 |
| San Angelo | TX | 4.1 |
| Sulphur Springs | TX | 4.1 |
| Del Rio | TX | 3.9 |
| Amarillo | TX | 3.6 |
| Lufkin | TX | 3.5 |
| Fredericksburg | TX | 3.4 |
| Austin | TX | 3.3 |
| Brenham | TX | 3 |
| Paris | TX | 3 |
| Athens | TX | 2.9 |
| Houston | TX | 2.9 |
| Kerrville | TX | 2.9 |
| Nacogdoches | TX | 2.9 |
| Brownwood | TX | 2.8 |
| Huntsville | TX | 2.5 |
| Lubbock | TX | 2.5 |
| Abilene | TX | 2.4 |
| San Antonio | TX | 2.4 |
| Longview | TX | 2.3 |
| Victoria | TX | 2.3 |
| Texarkana | TX | 2 |
| College Station | TX | 1.8 |
| Eagle Pass | TX | 1.8 |
| Vernon | TX | 1.8 |
| Corpus Christi | TX | 1.7 |
| Odessa | TX | 1.3 |
| El Campo | TX | 1.1 |
| Laredo | TX | 0.9 |
| Pampa | TX | 0.8 |
| Kingsville | TX | 0.7 |
| Midland | TX | 0.6 |
| Uvalde | TX | 0.6 |
| Bay City | TX | 0.4 |
| Andrews | TX | -0.1 |
| Levelland | TX | -0.1 |
| Port Lavaca | TX | -0.2 |
| Snyder | TX | -0.2 |
| Dumas | TX | -0.6 |
| Borger | TX | -0.7 |
| Plainview | TX | -1.1 |
| Beaumont | TX | -1.4 |
| Rio Grande City | TX | -2 |
| Big Spring | TX | -2.2 |
| Raymondville | TX | -2.8 |
| Beeville | TX | -3.6 |
| Lamesa | TX | -4.2 |
| Zapata | TX | -4.6 |
| Sweetwater | TX | -4.8 |
| Pecos | TX | -4.9 |
| Alice | TX | -6.8 |
#2. Florida – Average Home Value: $388,454
Known for its sunny weather and beautiful beaches, the Sunshine State boasts a vibrant real estate industry. The state has seen significant population growth, driven by retirees and remote workers seeking a warmer climate and lower taxes. Cities like Tampa, Jacksonville, and Orlando offer a mix of affordability and lifestyle that appeals to buyers.
Outlook:
High demand, especially in coastal and retirement-friendly areas, could keep driving returns, though vulnerability to climate change and insurance costs remains a concern.
Florida Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Housing Market Forecast (Increase/Decrease by %) |
| Clewiston | FL | 9.9 |
| Wauchula | FL | 8.9 |
| Palatka | FL | 8.1 |
| Okeechobee | FL | 8 |
| Lake City | FL | 7.7 |
| Sebring | FL | 7.5 |
| Arcadia | FL | 6.8 |
| Naples | FL | 6.5 |
| Port St. Lucie | FL | 6.5 |
| Homosassa Springs | FL | 6.4 |
| Key West | FL | 6.4 |
| Ocala | FL | 6.4 |
| Tampa | FL | 6.4 |
| Panama City | FL | 6.3 |
| Miami | FL | 6.2 |
| Lakeland | FL | 6.1 |
| Pensacola | FL | 6 |
| North Port | FL | 5.7 |
| Cape Coral | FL | 5.5 |
| Orlando | FL | 5.5 |
| Palm Bay | FL | 5.4 |
| Jacksonville | FL | 5.3 |
| Punta Gorda | FL | 5.3 |
| Gainesville | FL | 5.2 |
| Sebastian | FL | 5.2 |
| Deltona | FL | 5.1 |
| Tallahassee | FL | 4.7 |
| Crestview | FL | 4.5 |
| The Villages | FL | 2.5 |
#3. North Carolina – Average Home Value: $318,266
North Carolina is buoyed by its strong education system, burgeoning tech industry, and relatively low cost of living. The Research Triangle Park area, encompassing Raleigh, Durham, and Chapel Hill, is particularly attractive for its high-quality job opportunities and education options, making it a hot spot for families and professionals.
Outlook:
With a solid education, technology, and healthcare base, North Carolina’s demand is expected to stay strong, particularly in the Research Triangle area.
North Carolina Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Sanford | NC | 8.4 |
| Wilson | NC | 7.5 |
| Boone | NC | 7.2 |
| Lumberton | NC | 7.2 |
| Albemarle | NC | 7.1 |
| Kill Devil Hills | NC | 7.1 |
| Brevard | NC | 7 |
| Laurinburg | NC | 7 |
| Rocky Mount | NC | 6.9 |
| Fayetteville | NC | 6.8 |
| Greenville | NC | 6.8 |
| Pinehurst | NC | 6.7 |
| Hickory | NC | 6.6 |
| Burlington | NC | 6.5 |
| Morehead City | NC | 6.5 |
| Shelby | NC | 6.5 |
| Wilmington | NC | 6.4 |
| Charlotte | NC | 6.3 |
| Kinston | NC | 6.3 |
| New Bern | NC | 6.3 |
| Jacksonville | NC | 6.2 |
| Henderson | NC | 5.9 |
| Durham | NC | 5.8 |
| Raleigh | NC | 5.8 |
| Washington | NC | 5.8 |
| Cullowhee | NC | 5.4 |
| Greensboro | NC | 5.2 |
| Winston | NC | 5.2 |
| Asheville | NC | 5 |
| Marion | NC | 4.8 |
| Forest City | NC | 4.7 |
| Mount Airy | NC | 4.6 |
| Elizabeth City | NC | 4.5 |
| North Wilkesboro | NC | 4.5 |
| Goldsboro | NC | 3.9 |
| Roanoke Rapids | NC | 3.2 |
| Rockingham | NC | 3 |
#4. Georgia – Average Home Value: $317,982
Georgia is thriving, thanks in part to Atlanta’s status as a significant economic and cultural hub. The state offers a good balance of urban and suburban living, with affordable housing prices compared to other major U.S. metropolitan areas. Georgia’s diverse economy and growing job market make it an appealing state for homebuyers and investors.
Outlook:
Several cities look promising, including Atlanta’s diverse economy and cultural appeal, which should keep the state’s market dynamic, but affordability may start to challenge first-time homebuyers.
Georgia Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Thomaston | GA | 10.2 |
| Cedartown | GA | 8.6 |
| Calhoun | GA | 8.3 |
| Toccoa | GA | 8.1 |
| Cornelia | GA | 7.9 |
| Statesboro | GA | 7.3 |
| Athens | GA | 7 |
| Savannah | GA | 7 |
| Gainesville | GA | 6.9 |
| Jefferson | GA | 6.9 |
| Fitzgerald | GA | 6.8 |
| Summerville | GA | 6.8 |
| Albany | GA | 6.5 |
| Hinesville | GA | 6.4 |
| Bainbridge | GA | 6.3 |
| Rome | GA | 6.3 |
| Atlanta | GA | 6 |
| St. Marys | GA | 6 |
| Dalton | GA | 5.8 |
| Brunswick | GA | 5.6 |
| LaGrange | GA | 5.6 |
| Macon | GA | 5.6 |
| Valdosta | GA | 5.5 |
| Warner Robins | GA | 5.5 |
| Waycross | GA | 5.5 |
| Americus | GA | 5.2 |
| Augusta | GA | 4.7 |
| Thomasville | GA | 4.7 |
| Vidalia | GA | 4.7 |
| Jesup | GA | 4.4 |
| Milledgeville | GA | 4.4 |
| Columbus | GA | 4.3 |
| Cordele | GA | 4.3 |
| Dublin | GA | 3.6 |
| Douglas | GA | 3.4 |
| Tifton | GA | 3.4 |
| Moultrie | GA | 2.6 |
#5. Arizona – Average Home Value: $421,939
The Grand Canyon State has been heating up, driven by its pleasant climate, booming economy, and influx of new residents. Phoenix and its surrounding areas, such as Scottsdale and Tempe, offer urban amenities and natural beauty. The state is characterized by strong demand, making it a competitive but rewarding place to buy a home.
Outlook:
This state remains strong, with demand in Phoenix and surrounding areas continuing to outstrip supply, driving home prices up. Water availability could become a critical issue.
Arizona Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Payson | AZ | 7.1 |
| Show Low | AZ | 7.1 |
| Yuma | AZ | 6.7 |
| Phoenix | AZ | 6.3 |
| Nogales | AZ | 5.9 |
| Flagstaff | AZ | 5.7 |
| Sierra Vista | AZ | 5.4 |
| Lake Havasu City | AZ | 5.2 |
| Tucson | AZ | 4.8 |
| Safford | AZ | 4.7 |
#6. Utah – Average Home Value: $501,653
Utah stands out for its breathtaking landscapes, high quality of life, and robust economy, particularly in sectors like technology and tourism. The Salt Lake City area, in particular, offers a vibrant housing market with a growing demand for both urban and suburban living options. Utah’s strong job market and family-friendly environment make it a prime location for homebuyers.
Outlook:
Continued population growth and a booming tech sector suggest a strong market, especially near Salt Lake City and Provo, with potential affordability concerns.
Utah Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Price | UT | 8.3 |
| Heber | UT | 8.2 |
| Vernal | UT | 7.1 |
| Ogden | UT | 6.5 |
| Logan | UT | 6.1 |
| Cedar City | UT | 5.4 |
| Salt Lake City | UT | 5.4 |
| St. George | UT | 5.3 |
| Provo | UT | 5.2 |
#7. Colorado – Average Home Value: $527,413
Colorado benefits from its stunning natural scenery, outdoor recreational opportunities, and a dynamic economy. Denver, Boulder, and Colorado Springs are hot spots for young professionals and families, offering a range of housing options from urban apartments to suburban homes. While prices are higher, the state’s quality of life and economic opportunities justify the investment.
Outlook:
High demand for outdoor lifestyles and strong job demand in Denver and Boulder could maintain buoyancy, though prices are high by national standards.
Colorado Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Steamboat Springs | CO | 8.7 |
| Edwards | CO | 8.1 |
| Glenwood Springs | CO | 6.1 |
| Craig | CO | 5.8 |
| Montrose | CO | 5.1 |
| Canyon City | CO | 4.9 |
| Grand Junction | CO | 4.7 |
| Durango | CO | 4.4 |
| Pueblo | CO | 4.2 |
| Colorado Springs | CO | 3.9 |
| Denver | CO | 3.6 |
| Sterling | CO | 3.4 |
| Fort Morgan | CO | 3.3 |
| Boulder | CO | 2.8 |
| Fort Collins | CO | 2.4 |
| Breckenridge | CO | 2.3 |
| Greeley | CO | 2.3 |
#8. Idaho – Average Home Value: $434,540
Idaho has emerged as a hidden gem, with Boise leading the charge. The state offers a mix of affordability, natural beauty, and a growing tech industry. Idaho’s low cost of living and outdoor lifestyle make it an attractive option for homebuyers looking for a balance between urban and rural living.
Outlook:
Boise might continue to attract out-of-state buyers looking for quality of life and lower costs, though rapid price increases could slow down.
Idaho Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Mountain Home | ID | 8.7 |
| Pocatello | ID | 8 |
| Boise City | ID | 7.5 |
| Coeur d’Alene | ID | 7.4 |
| Hailey | ID | 7.3 |
| Twin Falls | ID | 7.1 |
| Sandpoint | ID | 6.7 |
| Blackfoot | ID | 6.6 |
| Burley | ID | 6.5 |
| Rexburg | ID | 6.3 |
| Idaho Falls | ID | 5.9 |
| Moscow | ID | 5.7 |
| Lewiston | ID | 4.8 |
#9. Tennessee – Average Home Value: $306,156
Tennessee is bolstered by its lack of state income tax, vibrant music and culture scene, and diverse economy. Cities like Nashville and Memphis offer a unique blend of cultural amenities and affordable living, making the state appealing to a wide demographic, from young professionals to retirees.
Outlook:
Nashville and other urban centers will likely remain attractive due to their vibrant cultural scene and lack of state income tax, which keeps the market lively.
Tennessee Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Crossville | TN | 8.6 |
| Knoxville | TN | 8.3 |
| McMinnville | TN | 7.5 |
| Greeneville | TN | 7 |
| Tullahoma | TN | 6.8 |
| Johnson City | TN | 6.7 |
| Sevierville | TN | 6.6 |
| Cleveland | TN | 6.4 |
| Kingsport | TN | 6.3 |
| Cookeville | TN | 6.2 |
| Morristown | TN | 6.2 |
| Shelbyville | TN | 6.2 |
| Chattanooga | TN | 6.1 |
| Dayton | TN | 6.1 |
| Clarksville | TN | 5.7 |
| Lewisburg | TN | 5.7 |
| Athens | TN | 5.4 |
| Lawrenceburg | TN | 5.2 |
| Memphis | TN | 5.1 |
| Jackson | TN | 4.8 |
| Martin | TN | 4.8 |
| Nashville | TN | 4.5 |
| Paris | TN | 4.3 |
| Newport | TN | 3.7 |
| Union City | TN | 3.6 |
| Dyersburg | TN | 1.7 |
#10. Nevada – Average Home Value: $419,993
Rounding out the list, Nevada is driven by more than Las Vegas. While the city’s entertainment and tourism industries are significant, the state also offers areas like Reno and Henderson, which have grown due to their favorable tax laws, diverse economy, and quality of life. Nevada benefits from a steady influx of new residents seeking job opportunities and a sunny climate.
Outlook:
Las Vegas and Reno might continue to attract transplants from expensive states, with the market’s performance closely tied to the health of the tourism and entertainment sectors.
Nevada Cities 1-Year Housing Forecast Ranked Highest to Lowest:
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Pahrump | NV | 4.7 |
| Fallon | NV | 3.9 |
| Las Vegas | NV | 3.9 |
| Reno | NV | 3.7 |
| Winnemucca | NV | 3.7 |
| Carson City | NV | 3.6 |
| Fernley | NV | 2.9 |
| Gardnerville Ranchos | NV | 2.6 |
| Elko | NV | 1.5 |
Best Cities to Invest in Real Estate Within Each State
Certain cities in each top 10 state have a unique blend of excellent job growth, good quality of life, and affordability. It’s important to note that while these cities may not have the strongest possible 1-year forecast, they have demonstrated sustainable long-term growth, making them great for those who tend to hold investments. These are the cities that have an especially sunny outlook for real estate investing.
Austin, Texas: $539,099
Austin is best known for its meteoric job growth thanks to its booming tech industry; the median household income is $89,415, which is significantly higher than the national average. Its real estate has increased by 123.20% in the last ten years, and it’s expected to continue growing long into the future—especially as homeowners enjoy the lowest property taxes in years thanks to new tax cuts.
Jacksonville, Florida: $301,690
Those looking for more affordable housing investments will appreciate Jacksonville; despite impressive boosts in home values, its housing remains priced below the national average of $387,600. Prospective homebuyers will appreciate that the state has no income tax, and its job growth rate sits at around 1.9%. The Wall Street Journal ranked it as one of the hottest job markets and one of the fastest-growing cities in America. Jacksonville also offers a plethora of enjoyable recreational activities, from fishing to hiking.
Charlotte, North Carolina: $401,276
Charlotte takes the top spot in North Carolina investment locations due to its incredible employment opportunities; job growth is a lightning-fast 4.6%, and the population has risen by 1.7%. While a bit more expensive than nearby areas like York, South Carolina, the mix of college students at the University of North Carolina and major employers like Honeywell means a broad range of rental properties will perform well in this diverse city. This area sits squarely within the Research Triangle, renowned for its advanced manufacturing and scientific jobs which net high incomes.
Augusta, Georgia: $176,006
This very affordable city has seen home prices jump by 3.6% in the past year, and it’s not showing signs of stopping any time soon. It’s especially good for commercial options; its multi-tenant rental vacancy rate in the first quarter of 2024 was 4%, only slightly higher than the year previous, and has remained steady in the second quarter. AirDNA has ranked it as 100/100 for rental investing, mostly because housing starts at price points that are significantly lower than many markets with similar metrics.
Tuscon, Arizona: $335,648
More buyers are gravitating toward Tuscon rather than Phoenix because of its lower price points and crime rates. It’s particularly popular with young families who want a safe, comfortable place to call home. While its population growth isn’t as high as in other states, it has added more people at a steady rate of about 0.99%, with the median age firmly in middle age. Its financial sector, which typically has great salaries, has been growing significantly, and with it, rent prices. Right now, single-family homes in Tuscon make an impressive $2,000 per month, while vacancy rates have been dropping steadily.
Salt Lake City, Utah: $556,032
The largest city in the state, Salt Lake City is known for its diverse economy, including excellent rental options in the form of students at the University of Utah. The area is beloved by sports enthusiasts, who make it a short-term rental hotspot. It has an admirable growth of 1.24% annually, and over a billion dollars have been invested in new house, office, and retail construction. Additionally, the area has very low property taxes, so you can save more of your rental income and build your business. Because so many people are eager to invest here, it’s a sellers’ market, so buyers will need to prepare for a bidding war if they want the best houses available.
Denver, Colorado: $571,035
Denver is a city beloved amongst adrenaline junkies and those who want to live in a quirky, inclusive city. While Denver’s home values have gone down slightly in the past year, this big city remains a proven winner. Capital appreciation in Denver is some of the highest in the country, averaging around 4.26% yearly. Additionally, Denver is quickly becoming a multicultural paradise, with its multiracial population growing faster than New York, San Francisco, or Washington, DC. You can expect a cash-on-cash return of 1.5% for long-term rentals.
Boise, Idaho: $490,163
Prices in this city have gone up an incredible 4.4% in the last year due to its balance between excellent job opportunities and good affordability compared to other tech-mogul areas in the country. Major employers like Hewlett-Packard and Micron have made their homes here, helping employees make an average salary of $64,065. It’s no wonder that projections show that Ada County will grow by an incredible 28.4% by 2050. Property taxes have dropped by 18% in recent years, making this the perfect time to buy.
Knoxville, Tennessee: $357,411
Clever Real Estate gives Knoxville an InvestScore of 100/100, particularly due to the amazing 92.18% real estate appreciation. Prices have jumped by 7.3% in the last year, representing its meteoric population growth of 4.8% since the last census. The current unemployment rate of 3.2% is lower than the national average. Knoxville is known for its strong healthcare sector, which keeps its employment rates steady and laid-back, peaceful lifestyle.
Winnemucca, Nevada: $315,526
This little-known city is a hidden gem beyond the lights of Las Vegas and Reno, but it’s growing fast: prices have shot up by over 5% in the last year. It’s rated as one of the most affordable areas in the state and has an InvestScore of 100/100. The population has grown steadily by about 4.5% in the last five years. Most importantly, it has low property taxes at about $1,298 and a high household income that assures good rent.
Best Cities 1-Year Housing Forecast
| City | State | 1-Year Forecast (Increase/Decrease by %) |
| Austin | TX | 3.3 |
| Jacksonville | FL | 5.3 |
| Charlotte | NC | 6.3 |
| Augusta | GA | 4.7 |
| Tuscon | AZ | 4.8 |
| Salt Lake City | UT | 5.4 |
| Denver | CO | 3.6 |
| Boise | ID | 7.5 |
| Knoxville | TN | 8.3 |
| Winnemucca | NV | 3.7 |
Factors to Consider When Investing in Real Estate in 2024
Deciding to invest depends on numerous factors beyond just glimpsing a for-sale sign on the street. Interest rates will determine whether it’s a good time to buy, particularly if you’re selling a property with a lower interest rate to afford this one. In general, you want to aim for a buyer’s market, when a seller may be motivated to drop the price because inventory is high and they’re not getting many deals.
You must also consider whether the area has long-term growth potential, like consistent rises in house prices over time. Economic potential, such as a strong job market, will decide whether your tenants can afford rent or if you’ll have to drop prices to attract them.
Regional economic policies can impact your plans, such as whether the city is reluctant to give out building permits or if they are pushing for more affordable options for tenants. Some areas are restricting short-term rental purchases, which could stymie growth. By considering all of these factors, you may find the perfect niche for your needs.
Selecting the Best Real Estate Investment Options Nationwide
US real estate is diverse, with each state offering unique advantages for homebuyers and investors.
Whether you’re drawn to the economic opportunities of Texas, the outdoor lifestyle of Colorado, or the affordable living in Idaho, there’s a state that meets your needs. One of the key takeaways is that southern states like Tennessee and North Carolina are providing the perfect blend of affordability and competitive growth.
As always, conducting thorough research and considering your long-term goals when navigating the market is crucial.
These top 10 states represent some of the best opportunities in the current environment but remember that market conditions can change, and what suits one buyer may not suit another.