The Fasting-Growing Real Estate Markets to Look for in 2022
As the year progresses, many investors are on the lookout for the fastest-growing real estate markets. The world is slowly recovering from the damaging effects of the pandemic, and many Americans are looking to relocate, start new jobs, and change their housing situations.
For investors who want to add high-performing properties to their portfolios, examining some of the hottest real estate markets in 2022 is an excellent place to start.
Markets with High Rent Increases
In terms of rent increases, the hottest real estate markets usually lie in bustling, continuously growing cities. Florida is home to many of the highest rent increases over the past couple of years, but Arizona has also seen significant increases in its larger cities.
Florida: Marco Island, Naples – 43%
North Port, Bradenton – 36%
Fort Meyers, Cape Coral – 27%
Tampa, St. Petersburg – 26%
Arizona: Scottsdale, Phoenix, Mesa – 23%
Markets with Low Vacancy Rates
Rental investors who want to obtain properties in areas where vacancies are constantly being filled might wish to examine the following cities. Each market sees impressively low vacancy rates, which means that units will secure consistent occupants, and rents likely won’t experience frequent interruptions due to vacancies.
California: Fresno – 1.4%
Riverside, San Bernardino – 1.9%
San Diego, Carlsbad – 2.4%
Rhode Island: Providence, Warwick – 2.5%
Markets with Population Growth
Professionals looking to make informed real estate investment decisions often seek locations that experience consistent population growth each year. Markets in Arizona, Texas, Idaho, and Florida have grown considerably over the past decade, and that growth has not stagnated as of 2022.
Take a look at the fastest-growing real estate markets in terms of population growth.
Arizona: Scottsdale, Phoenix, Mesa – 2.1% (Phoenix – 21% since 2010)
Texas: Austin, Round Rock – 3% (30% since 2010)
Idaho: Boise – 2.7% (12% since 2010)
Florida: Orlando – 1.8% (26% since 2010)
Tampa – 1.17% (21% since 2010)
Jacksonville – 1.3% (14% since 2010)
Markets with Sales Growth
These localities may be ideal for investors looking to get into the hottest real estate markets in terms of buying, improving, and reselling homes. The following areas have experienced significant increases in sales and buying prices this year.
Utah: Salt Lake City – 23%
Idaho: Boise – 20%
Washington: Spokane, Spokane Valley – 20%
Seattle, Bellevue, Tacoma – 17%
Florida: Tampa, St. Petersburg, Clearwater – 16%
As a real estate investor, you have likely developed a set of criteria to look out for as you pursue the right types of properties. Whether you invest in rentals or remodel/resale homes, getting involved with a growing market is a savvy real estate investment decision. The options are numerous, so be sure to research the areas you’re considering before making investment choices.