So, you’ve got some cash lying around, and you’re thinking of investing in property. Where can you score the best deal — and the best return on your investment?
The U.S. housing market has significantly recovered from the infamous 2008 crash. Median sales price of new homes has skyrocketed over 50 percent, according to U.S. Census Bureau Data. If you’re looking to invest, now may be the time to go all in as the housing market continues to reward long-term investors with handsome profits.
Fit Small Business, an online publication serving small business owners, compiled publicly available data from heavyweight sources such as the Bureau of Labor Statistics, Census Bureau and the National Association of Realtors, and analyzed it in order to give you a definitive and comprehensive ranking of the best states to buy an investment property.
Colorado tops the list for a variety of reasons: homes there typically sell in fewer than 30 days; its property taxes are one of the lowest in the country; and the state ranks second in median income growth over the last five years. Colorado is followed by Utah, Idaho and other western states, as well as Tennessee, Texas and North Dakota.