R
eal estate experts in the Southern markets have identified five cities that are poised for growth and worth investing in over the next five years. To give readers a better understanding of these areas, we've included each city's average home value based on Zillow data.
Miami, Florida, is a top contender with an average home value of $588,264. The city's warm weather, no state income tax, and growing economy make it a desirable location for retirees and young professionals alike. Luxury real estate expert Kristi Bachan notes that waterfront properties in Miami hold long-term value due to limited supply and increasing demand.
Myrtle Beach, South Carolina, is another high-growth area with an average home value of $324,722. The city has become the fastest-growing U.S. metro for seniors, according to U.S. News & World Report, with over a quarter of its 413,000 residents being senior citizens. Ben Lastra, a Compass agent in South Carolina, recommends Myrtle Beach for its affordable cost of living and abundance of amenities like resorts and golf courses.
Other cities on the list include areas with strong economic growth, limited housing supply, and high demand from both domestic and international buyers. These factors contribute to their potential for appreciation and rental income opportunities.
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Southern Hotspots: 5 Cities Poised for Real Estate Growth
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