Cities With The Healthiest Real Estate Markets
It was a long five years of the market being at its all time low but it is now back on the rise. Prices of houses have went up 4.9% in the nation. For a region to be considered ‘healthy’ it must have median rent and sale prices along with booming jobs in the area. Four out of the top ten healthiest regions are located in Texas and only 2 on the west coast.
Houston, TX is attractive to people because it has a strong job growth and affordable housing. It is becoming the strongest housing market for 2013. Its job growth is at 3.0% with a 3.6% rte of vacancy. The average sale price comes in at $80,312 which is a decline of 23%. The average rent in Houston, TX for 2013 is $1,236, where is 2012 it was $1,145.
San Antonio, TX was not really affected by the housing crisis. The average price per square foot is almost two thirds less nationwide. The job growth in San Antonio is 2.7% with vacancy rate at 2.8%. Home prices has increased 3.7% with cost averaging $79,001. Average rent in 2013 is $768 and in 2012 $806.
Austin, TX has a 3.5% job growth thanks to education, technology, construction, and health care jobs. It is the third largest growth in the nation. It has a 2.5% job rate and a vacancy rate of 1.2%. Home median sale price has increased 1.3% with average cost of $128,190. The average rent for Austin is $1,102 in 2013 and $1,160 in 2012.
Ft. Worth, TX had jobs grow 10% thanks to logging, construction, and mining. It also had a 6% growth rate in educational, health, and professional jobs. Very attractive for young professional couples. Job growth rate is 2.6% and vacancy rate stands at 3.0%. Average home price comes in at $82,000 which is a 1.5% increase. Rent averages out at $1,055 in the year 2013 and $1,158 in 2012.
San Francisco, CA is attracting the techies. Tech jobs have grown by a third since the beginning of 2012. Job growth in the Bay area by 3.4% with vacancy rate of 1.7%. The median sale price has increased 24% with average cost of housing at $747,000. The Average rent in 2013 for San Francisco, CA is $2,106, and in 2012 it was $2176.
Rockville, MD growth in jobs is one of the highest since 2012 and the lowest vacancy rates nationwide. The job growth is 2.8% with vacancy rate of 1.2%. The average price of sale has only increased by 0.5%. Average housing cost is $402,000. The median rent for 2013 in Rockville, MD is $1,745 and in 2012 it was $1,665.
Seattle, WA prices fell nearly 26% during the recession however it has increased 11% since thanks to the construction field. Job growth is 3.1% and vacancy rate is 2.4%. There has been 11.1% in past year. The average home price is $350,000. Rent in 2013 averages out to $1,517 and in 2012 it was $1,331.
Omaha, NE had an unemployment rate at 3.9% but it help its economy growth tremendously. The job rate is 2.5% growth and vacancy rate is 3.3%. The average house is $138,000 which has decreased 20.5% in the past year. The average rent in 2013 is $816 and in 2012 it was $763.
Peabody, MA is very attractive to young couple especially with its low housing costs and high job growth. It is a job growth rate at 2.5% and a vacancy rate at 3.3%. The average sale price is $264,500 which has increased 7.4% in the past year. The average rent in the year 2013 is $1,585 and was $1,489 in the year 2012.
Louisville, KY maintains impressive job growth thanks to automotive industries. Job growth rate is 2.7% and vacancy rate is 3.6%. The average home sale price for Louisville is $133,384 which is a 4.2% increase. Rent for 2013 averages in at $708 and $735 for year 2012.