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Updated over 8 years ago,
Out-of-area analysis to pick my investment city
Hey Bigger Pockets,
I am looking to start investing and due to high prices in the SF/SJ area, I'm looking to invest elsewhere. I'm trying to be methodical about this, so I've developed a score for cities based on different metrics. I'm trying to find a good area for buy-and-hold rentals with a bonus potential for appreciation. Toward that end, I'm hoping to identify strong economic growth and strong rental markets. Here's what I'm looking at:
- High Population Growth
- Low Unemployment
- High Median Income Growth
- Low Vacancy
- High Percentage Renters
- High Rent/Price ratio
- High % of renters paying < 1/3 income on housing (affordability)
- High 1 year job growth
- Low state property tax
- Low median house price
What I'm looking for is any thoughts you all might have on other important metrics I may have missed or if you think I'm looking at the wrong information. FWIW, I'm getting high scores for areas in Texas and Oklahoma. Thanks!
Christopher