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The top 10 areas with the highest projected real estate growth:
Syracuse, NY —> +5.0% Rockford, IL —> +4.5%Atlantic City, NJ —> +4.5% Rochester, NY —> +4.0% Utica, NY —> +3.5% Knoxville, TN —> +3.4% Norwich, CT —> +3.3% Binghamton, NY —> +3.3% Morristown, TN —> +3.3% Green Bay, WI —> +3.2%More Affordable Areas
If you’re looking for your dream retirement home, however, there is an equally impressive list where home prices are actually declining. It may be the perfect time to buy if any of these regions catch your eye.
Houma, LA —> -7.0% Lake Charles, LA —> -5.6% Austin, TX —> -4.6% New Orleans, LA —> -4.4% Shreveport, LA —> -3.6% Beaumont, TX —> -3.4% Alexandria, LA —> -3.4% Lafayette, LA —> -3.2% Vallejo, CA —> -3.2% Chico, CA —> -3.2%Southern Living
A New York Times article from last year noted that Americans were staying put, but those who did decide to migrate were overwhelmingly headed south. With more temperate weather and less taxes, the South has always been a draw for retirees.
More stable insurance markets, like Austin, TX, may be the best choice of all. The pandemic-era growth that exploded across the city has rapidly declined, leaving 128% more sellers than buyers. It looks like everything is bigger in Texas, including housing availability.
So if a move is part of your retirement plan, checking out one of these areas could see you snagging the home of your dreams. Just make sure to check other factors, like the cost of living and insurance premiums, before hiring U-Haul.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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