In looking at the cities with the most growth, it’s basically looking at where the country wants to live. Many people are flocking to west coast cities, finding them to have stable employment, lots of amenities, good schools, and a housing market that still affords the middle class a chance at homeownership. With the growth in these cities, it’s a good time for investors to consider buying properties there with the opportunity to either have rental income or to flip and resale.
Let’s look at some of the fastest growing cities on the West Coast.
It’s no surprise to see Seattle on this list, as it has a thriving economy and great jobs. It’s a city that many people dream of living in with the projected population growth of 1.76%. It’s true that the city has seen somewhat of an exodus, as people have been priced out of buying or renting. However, residents of Seattle did get the biggest raises of the year with a 7.52% increase.
Las Vegas, Nevada
Yes, people do actually live in Vegas! In fact, they’ve seen a bump of 2.43% for the year and have had job growth hit 3.23%. When jobs are readily available, people will move to fill them. Las Vegas has also been benefiting from relocations from California, where many just can’t keep pace with the cost of living.
Not too far from Seattle, Tacoma is having a boom as well with a projected population growth of 1.32% for the year. Job prospects are good here, and housing prices have increased by approximately 5.96%. For those priced out of Seattle, Tacoma has become a great alternative.
Phoenix was a city that took a big hit in the last recession but has found its footing again. It experienced a population growth of 2% in 2018. With its pleasant weather and a strong economy, it’s back to being a city that has seen growth in wages, home prices, and GMP.
The capital of Idaho has shown impressive numbers for 2018 with a population growth of 3.08%, projected GMP growth of 5.12%, and home price growth of 11.58%. Boise may not be the most expected city on this list, but the data proves otherwise. Some of this population growth is due to people being priced out of areas like Seattle and San Francisco.
These five cities could be the place where you should invest in 2019. They all have strong markets, and people are flocking to them with a sense that real opportunity awaits.