Is Lowell, MA a popular place for renters?

[Christian Cardozo]

Was originally looking to house hack for under 700k in Cambridge/Somerville/Boston/Allston. One week into viewings and math, the school of hard knocks has now provided me a healthy dose of cynicism. Many of these don’t even cashflow when fully rented-out.

Considering the big chunk of change that is even 3%-5% down for houses at Boston prices, I wonder if it may be worth it to buy in a neighboring town (within a 1hour driving radius) where prices are notably lower, put a more traditional amount down (10-20%), and just rent out fully without house hacking.

I pay unusually cheap rent for a lovely apartment in the heart of Cambridge, MA and the more I look around, the more I realize how hard it will be to find that lifestyle and price combination elsewhere. I would not mind, as a first step, continuing paying rent if I have a nice place producing rental income on the side. Then when I’ve saved up more, I can make a bigger move in Boston/Cambridge itself.

A friend mentioned Lowell, MA as a good place for investment properties, and I wanted to see if people here had an inside sense of rentability and the overall vibe there. I work near Lowell and am just getting started doing my own research, online and in person, so I thought I’d see if anyone can offer advice here! Thanks!

[Deneuve Brutus]

Hi @Christian Cardozo, a family member recently moved there from Boston. I too have started looking at Lowell. I don't know if it is popular however based on my conversation it seems to be in the path of progress. Folk are moving out that way for its affordability. My research has shown that it is almost always better to commute to a major city, prices on its outskirts are usually cheaper.