5 Underrated US Cities for Real Estate Investing

Whether you’re looking for a lower cost of living or just yearning for warm summers and comfortable winters, many US cities offer these perks. But not all cities are created equal.

To find the correct town for you, you need to know how these other underrated properties compare if you’re getting started investing in real estate, this list of the most underrated US cities to consider.

The cost of living matters. While we’d all love to live in the Big Apple or another high-priced city with all its amenities, sometimes it’s better to be practical and save money.

These cities offer both a lower cost of living and plenty of opportunities for investment

1. Buckeye, AZ

With the collapse of the housing market, many American cities are hurting. Buckeye, Arizona, is one such city. The housing market has plummeted by an average price of 40 percent, giving investors an excellent opportunity to purchase property at a meager cost.

The housing may not be cheap in Buckeye, but it’s well below national and state averages. The city’s population also has a lot going for it. Buckeye, located in Maricopa County, also has a lower cost of living than the national average and even lower than the average for Arizona.

Buckeye home for sale recently began requiring a new zoning regulation for all homes to meet higher energy-efficiency standards. The city government is also touting an excellent school system that ranks better than 80 percent of public schools statewide. It is most preferred because of the great weather.

It has good amenities and recreational centers such as golf courses and beautiful parks. There are also some fine restaurants, bars, and nightlife. Buckeye is well below the median cost of living in Arizona and is about $30 lower than the US average.

It also has an excellent advantage for those who wish to make money in real estate because it’s seeing better times than many other states or cities. Having accessible roads makes it easy to reach the town, giving investors a well-placed property. The area is also growing reasonably, with new developments popping up.

2. Eagle, ID

While it was once a major tourist destination, the city of Eagle, Idaho, has mainly remained underrated simply because it’s so isolated. The town is located near Idaho Falls, which isn’t far from the state capital of Boise.

There are many reasons Boise is growing as a city, and Eagle remains unique as one of its most incredible hidden gems. But if you’re looking for a small town, you won’t find it in Eagle. Instead, take your pick from three different parks that offer plenty of recreation and entertainment.

The city is home to the Idaho Shakespeare Festival, one of the best in the state. The town is also near three major ski resorts and has good access to outdoor activities like hiking, mountain biking, water sports, etc.

The cost of living in Eagle also is lower than average. While it’s not cheap by any means, it’s well below national averages and standards for both Idaho and the state of Utah. Eagle residents also make an average salary that beats other areas of Idaho.

3. Frisco, TX

There are good reasons why Frisco is one of Texas’s best places to live. The city is around 80 miles north of Dallas and near Fort Worth; both cities have great job markets and infrastructure. The population in Frisco grew by 14 percent between 2000 and 2010, an impressive amount for such a young city.

That’s helped grow employment opportunities in the area. Highly accessible roads make it easy to reach the city as well. While Frisco doesn’t have a lot of big business and a high population, it still has plenty of action for those looking for something different.

The cost of living in Frisco is reasonable, though not as low as in some Texas cities. It’s even cheaper than most cities in the Midwestern region of the country, which could be necessary for those who want to move away from high-cost places like New York or San Francisco.

The economy boasts a 7.1 percent unemployment rate, much better than the national average and better than Texas. The housing market also performs better here than in other areas of Texas. The average home price grew by 2.6 percent in 2011, according to the most recent Census data

4. Alpharetta, GA

Alpharetta is one of the most underrated cities in Georgia, even though it’s a sizable city. According to the Milken Institute, Alpharetta ranks as one of the best cities in Georgia, and that’s primarily due to its growing job market.

The city ranks sixth in employment growth in a state where nearly half the counties face job crises. The city also has seen significant growth over the last several years. The population has grown by an impressive 34 percent between 2000 and 2010, placing it among the fastest-growing cities in the country.

That growth has helped with job creation, one of the primary reasons Alpharetta makes this list. A significant factor in Alpharetta’s growth is near Atlanta and Roswell, Georgia.

5. Fort Collins, CO

While Denver is well known as one of the best cities to live in the United States, Fort Collins, Colorado, offers its residents many similar benefits. The cost of living in Fort Collins is slightly above average compared to other cities, and while housing costs are low, they aren’t cheap by any means.

Still, it’s a great place to invest in real estate. The city has an excellent school system that ranks second among all schools in Colorado and third nationally. Fort Collins also offers a steadily growing job market and has a meager unemployment rate of 6.8 percent.

The cost of living in Fort Collins is also low, making it one of the best cities to invest in real estate. The city has many local attractions that residents enjoy, including the 6-mile-long Horsetooth Mountain Open Space Park and Big Bluestem Golf Course. This very well-regarded golf course won’t break the bank.

Conclusion

There are many great places to live in the United States. The best cities, like these five, are those that offer an excellent cost of living and low housing costs while still being within reach of major job markets. You don’t have to choose just one city to make money with real estate, and that’s a good thing.

If you want to expand your investment portfolio and diversify across many country areas, these five great cities can help you.