There are almost 20 million rental properties in the United States. So if you're looking to buy an investment property, you can afford to be picky about location.
So, what California cities should you be considering? We've got you covered. Let's go through the best cities to purchase an investment property.
Los Angeles
Los Angeles, the second-largest city in the US, offers a vast and diverse real estate market. That means that it provides numerous investment opportunities.
While property prices can be steep, certain neighborhoods and suburbs present more affordable options for investors looking to capitalize on the city's strong rental demand.
San Diego
San Diego, known for its coastline and pleasant climate, has a stable and thriving rental market. The downtown and coastal areas are particularly good options. This makes it appealing for investors seeking a balance between rental income and potential property appreciation.
The city has a significant military presence. It features several military bases and installations. Properties near military bases can be appealing to military personnel and their families.
San Diego is a popular tourist destination. It draws visitors from around the world. Investors have the opportunity to capitalize on the vacation rental market. That's especially in areas close to beaches, tourist attractions, and major events.
Sacramento
Sacramento, the state capital, has experienced a growing population and expanding job opportunities. Compared to major coastal cities, the housing market in Sacramento is generally more affordable. That makes it a great place to buy an investment property
There are also tons of different surrounding cities you can invest in if you're interested in the Sacramento area. By choosing a smaller city, you can luck into a higher return on investment.
Known for its family-friendly environment and excellent schools, Folsom attracts residents seeking a high quality of life. The city has a mix of housing options and is home to various tech companies and healthcare facilities, providing a stable rental market.
Located northeast of Sacramento, Roseville has experienced significant growth and development in recent years. It offers a variety of property options. Its proximity to major highways and amenities makes it an appealing choice for investors.
But you'll want help managing your Sacramento-area properties. A good property management company offers all the services you need.
San Jose
San Jose, situated in Silicon Valley, is a technology hub with a strong rental market. That's driven by its proximity to tech companies and a well-educated workforce.
San Jose's economy is diverse and vibrant. This economic stability can provide a solid environment for real estate investments.
San Jose has specific landlord-tenant laws that can be favorable to property owners. They offer some protections and guidelines for both landlords and tenants.
Shop for Investment Properties Today
There are a lot of places you might want to snap up an investment property. Dive into your research, consult with the professionals, and start shopping.
Do you need help managing your new rental property? We've got you covered. Contact Residential Equity Management today.
