Top Cities for Rentvesting: Austin, Tampa, Nashville, Raleigh
The latest trend in homeownership is “rentvesting,” where individuals rent a property in a desirable location while owning an investment property in a more budget-friendly area. This strategy allows them to enjoy the benefits of homeownership without the financial constraints. Here are four cities where rentvesting is gaining popularity:
1. Austin, Texas: With an average home value of $548,654, Austin is a prime location for rentvesting. The city’s tech industry and high rental demand make it an attractive investment opportunity.
2. Tampa, Florida: With an average home value of $386,957, Tampa offers affordable housing and a diverse rental market. Rentvestors can consider buying in College Hill or Historic Ybor while renting in Ridgewood Park.
3. Nashville, Tennessee: With an average home value of $445,000, Nashville’s booming economy and hot rental market make it a great choice for rentvesting. Consider buying in Elizabeth Park and renting in Salemtown.
4. Raleigh, North Carolina: With an average home value of $448,000, Raleigh is part of the Research Triangle known for its tech and research industries. Rentvestors can explore buying in East Raleigh or Glenwood.
Rentvesting is a smart strategy for those looking to invest in real estate without breaking the bank. Consider these cities for your next rentvesting opportunity.