Location is key for investment properties. Whether you’re looking for a quiet beach condo or a second home near your favorite ski slopes, it’s all about the right location. In the United States, the hottest markets for investment properties feature areas with diverse landscapes, exciting outdoor recreation options, and easy connections with major routes and cities.
Listed alphabetically by state, the top eight investment property markets each offer something unique for homeowners and their guests.
Come home to Phoenix, Arizona for year-round sunshine, bold desert landscapes, and some of the hottest real estate in the country. Phoenix, known as the “Valley of the Sun”, is Arizona’s capital and the fifth largest city in the United States. Located in the heart of the Sonoran Desert, Phoenix is one of the most popular locations for vacation rentals and investment properties.
Its location near Camelback Mountain and desirable climate make it a favorite for outdoor recreation. From hiking to biking, rock climbing, horseback riding, kayaking, and more, there’s an outdoor adventure for everyone. The city has numerous golf courses plus an array of choices for dining, shopping, and entertainment venues. Spend an afternoon at the Desert Botanical Garden, and then hit downtown for drinks and a meal.
Nearby Scottsdale also offers an allure for investors who are looking for property close to Phoenix. Furthermore, Scottsdale has miles of hiking trails, a thriving arts community, and some of the best golf courses.
2. Palm Springs, California
Centrally located between Los Angeles and San Diego, the city of Palm Springs, California is a vacation destination hotspot. Palm Springs sits just west of the Joshua Tree National Park, easily accessible from Interstate 10. It’s a lush oasis amid the Sonoran Desert of southern California.
Palm Springs is home to several high-end resorts, golf courses, spas, and unique shopping venues like the Boutiques at La Plaza Palm Springs. The core shopping district is at Palm Canyon Drive offering residents and visitors a selection of locally-owned shops plus trendy brands, art, culture, and dining,
According to the city, approximately one million tourists stay in Palm Springs’ hotels every year. Additionally, 600,000 visitors stay in non-hotel accommodations. With more than 300 days of sunshine each year plus an array of outdoor activities just minutes away from accommodations – It’s no surprise that Palm Springs has become one of the most popular cities in the United States for investment properties.
For several decades, Florida has been a haven for residents of the northern states—home to the “snowbirds” escaping cold winters to enjoy the year-round warmth the state offers. It’s also one of the country’s top tourist destinations due to its extravagant theme park resorts. However, Florida offers much more. It’s filled with rich history, miles of stunning beaches, and some of the hottest real estate opportunities in the southeast.
While Orlando and Miami are popular locations for tourists and for investment properties, there are other Florida areas that can’t be overlooked. Also, consider the Palm Coast/Flagler Beach area. It’s located north of Daytona, nestled between the Atlantic Ocean and Lake George. The area is about 95 miles northeast of the Orlando International Airport and 70 miles south of Jacksonville. The Palm Coast region has miles of hiking trails, sandy beaches, scenic golf courses, and water activities for all ages. Ready to check it out? Try a condo stay at the Cinnamon Beach Resort.
St. Augustine, about 35 miles north of Palm Coast, is the oldest city in the United States. Also, it’s home to beautiful beaches, historic sites, outdoor activities, unique shopping, and modern resort-style living. Discover art galleries, antique shopping in Uptown, dolphin adventures, music venues, and even the Original Haunted Pub Tour.
4. Las Vegas, Nevada
Las Vegas attracted more than 42 million tourists in 2019 and boasts a nearly 90-percent hotel room occupancy rate for that same time period. The city of Las Vegas, Nevada continues to thrive, which easily puts it on the list as a hot market for an investment property. The housing market is strong but affordable and Vegas attractions make it a desirable destination for visitors.
Often thought of as a gambler’s mecca, Las Vegas has evolved. Some of the biggest stars on stage and screen perform nightly to sold-out audiences. From sporting events to concerts and extravagant shows, Vegas has it all. Furthermore, it’s home to the indoor Adventure Dome Theme Park, museums, shopping venues, and some of the country’s best golf resorts. Explore the Red Rock Canyon area, take a helicopter ride, or visit the Hoover Dam, which is less than 40 miles from the famous Vegas Strip.
5. Albuquerque, New Mexico
With easy access to Interstates 25 and 40, the city of Albuquerque, New Mexico sits in the high desert of the Rio Grande Valley. Its elevation of 5,326 feet makes Albuquerque the highest metro area in the U.S. The city is located about 65 miles southwest of Sante Fe.
Albuquerque is a must-see when considering the purchase of a vacation home, relocation, or investment property. Its attraction for buyers comes in part from its solid job growth and a median home price that falls below the national average. Also, there are several high-tech companies, businesses like Intel and Netflix, plus institutions like the University of New Mexico and Kirtland Air Force Base.
While there are typically more than 300 days of sunshine in the city, it’s also a great place to go skiing at Sandia Peak. Residents and visitors can spend the day at the shops and restaurants of Downtown Albuquerque and visit the ABQ BioPark. Furthermore, Albuquerque is home to the annual International Balloon Fiesta.
6. Charlotte, North Carolina
Known as the Queen City, the city of Charlotte sits along the North Carolina/South Carolina border in Mecklenburg County. It’s quickly become one of the hottest housing markets as its population grows and the job market expands. Buyers can find a range of real estate opportunities, from luxury condos to affordable townhomes, and homes in gated communities.
North Carolina draws tourists from across the country and Charlotte offers a lot as a vacation destination. From art, theater, and cultural venues like the Charlotte Ballet and the Bechtler Museum of Modern Art to the renowned NASCAR Hall of Fame, the Charlotte-Concord Aquarium, and the Discovery Place Science, there is something for everyone.
There are more than 200 parks, miles of trails, and recreational facilities. Freedom Park is the largest and nearby Lake Norman is a great area for boating, fishing, and other water activities. Charlotte is also home to the U.S. National Whitewater Center.
The giant state of Texas has several must-see major cities, like Dallas, Houston, and San Antonio. But for a unique island experience, it’s Galveston that gets our vote. Galveston, Texas sits on the Gulf Coast, an island city rich in history and bursting with things to do for all. The Galveston Bay region enjoys temperate weather ideal for year-round outdoor activities like surfing, fishing, boating, golfing, and more.
Galveston is home to luxury, beachfront resorts like Casa Del Mar and the San Luis Resort and Spa. It’s the perfect getaway with beaches that stretch along the Bolivar Peninsula and Galveston Island and an ideal location for an investment property. Moreover, there’s easy access from Interstate 45 and Houston is only 50 miles away.
Come to Galveston and check out the Historic Pleasure Pier, the Schlitterbahn Waterpark, and the historic Downtown for shopping, dining, and entertainment.
Pocahontas County is home to Snowshoe, West Virginia, a village centered around its mountain and its ski resort. It’s quickly becoming one of the most popular regions for vacationing and investment properties. While the winter ski season is the biggest draw for visitors, there are activities year-round; from hiking to tubing, swimming, and biking. Additionally, Snowshoe boasts three ski areas with more than 60 trails and another 40 bike trails.
Lonely Planet recently named West Virginia a Top 10 Travel Region for 2022. You don’t want to miss out on the Snowshoe market. Outdoor activities are the primary draw, but the area offers plenty more. Experience attractions like the Green Bank Observatory, and unique shopping and dining.
Interested in getting to know one of these hot markets a bit better? Casago currently has rental properties in Phoenix/Scottsdale, St. Augustine/Palm Coast, Galveston, and Snowshoe and opportunities for rentals in several other popular markets, like California’s Santa Barbara and Big Bear, as well as Park City, Utah and several destinations in Mexico.