CNN Money recently published an article highlighting just how undervalued real estate is in many areas of the US. While there are certainly deals to be found in almost every neighborhood across the country, those serious about real estate investing will find that these areas offer some of the best deals for the future. Each may have their own individual reasons for being undervalued right now, though you can be sure in the long run that they will definitely offer real estate investing professionals some handsome profits in the near future.
15 most undervalued US cities according to Local Market Monitor:
- Las Vegas, NV – 27%
- Akron, OH – 22%
- Cleveland, OH – 21%
- Warren, MI – 21%
- McAllen, TX – 20%
- Stockton, CA – 19%
- Gary, IN – 16%
- Bakersfield, CA – 16%
- Dayton, OH – 16%
- Omaha, NE – 16%
- Rochester, NY – 16%
- Memphis, TN – 16%
- Columbus, OH – 16%
- Detroit, MI – 16%
- Cincinnati, OH – 15%
Besides the foreclosure crisis each of these cities has it’s own reason for being undervalued and extra attractive for real estate investing at the moment. Las Vegas has been one of the hardest hit by foreclosures but also suffers because of the employment situation. Michigan has seen seen prices driven down to rock bottom from foreclosures and crime and McAllen, Texas is among the border cities suffering from the sensational news headlines about Mexican gang violence.
Of course there are also many other areas of the country that hold amazing real estate investing deals that are drowned out by all the doom and gloom in the news. Did you know that Worcester, MA saw home values rise over $80,000 in just one moth last year? So do not get discouraged, there is plenty of money and big profits to be made by flipping real estate today.
