If you are into investing, real estate is a profitable and practical option. Real estate can give better returns compared to the stock market. It also has lesser volatility and has more minor factors that can negatively impact your investments.
If you are looking for a safe bet when starting your real estate investing, Maryland is a great option.
Many people enjoy living in Maryland because of better job opportunities, and the economy is one of the best in the US. It is also affordable compared to other high-quality areas that are near the city. You’ll find properties that have a high potential for selling or renting that can give a good profit.
To help you get started, we’ve listed the best real estate investment markets in Maryland.
Baltimore has a trustworthy and reliable economy. The economy also experiences slow but steady growth. This type of economy makes Baltimore a very dependable place to invest in real estate properties.
Baltimore also has a robust and competitive housing market. Homes in Baltimore sell in less than two months.
The median home value in Baltimore is $117,100, while the median rent is $1,400. It is relatively lower compared to nearby areas.
Also, only 12% of the residents are homeowners, which makes it perfect for selling real estate. Home values even have gone up 33.2% and predicted to rise at 10.5% in the future years.
There are also more significant job opportunities in the upcoming years, which means that there will be an expected increase in population.
Some of the expected people are migrants and are residing for the first time in Baltimore. You can reap money from these migrants by selling or renting properties.
Bowie is a suburb of Washington and located in Prince George’s County. It has a
population of 58,290. Bowie is one of the promising places to live in Maryland.
Living in Bowie offers dwellers a rare suburban feel that attracts many future homeowners. The median home value in Bowie is $315,900, and the median rent is $1,871.
Currently, the real estate market in Bowie favors sellers. From 2018 to 2019, the average sale price increased by 9% while the ordinary days of the properties on the market decreased by 9%.
If you are looking for a quick and straightforward flip, Bowie is an excellent place to start. Most properties don’t require any massive renovation to turn around.
You’ll mainly focus on the curb appeal plus and a possible kitchen and bath renovations since most houses are architecturally the same. If you prefer to become a landlord in Bowie, the cost of living and plenty of job opportunities can be your best selling point.
Also, utilities, leading electricity, are on the national average. Get to know more about the 2020 electric rates for Bowie online at https://prices.eligoenergy.com/electricityrates/states/md/bowie.
These factors are advantageous for buying and investing properties in Bowie, especially that income from renting is relatively higher than selling a house.
Bowie also ranked as the most diverse Suburbs in Maryland and one of the best suburbs to raise a family. You won’t have any trouble attracting folks to your Bowie investment properties.
Fredrick is the second-largest city in Maryland. It offers plenty of excellent livable infrastructure and numerous job opportunities from over 3,500 companies.
Fredrick also has a thriving economy and banging job market, making it very suitable for those who wanted to rent or buy a home.
The median home value is $255,100 and a median rent of $1,285. The homeowners and renters are somewhat split, so you’ll do well in making any approach you prefer.
Consider getting properties around Eastchurch because it is conveniently located within walking distance from shopping, entertainment, dining, and public transportation. This can be one of your best selling points.
Communities in Frederick are also very diverse and share common interests. Future homeowners usually consider this factor when getting a property.
Frederick’s growing economy, booming job market, and diverse community make it a real estate market worth exploring.
You can also consider investing in Columbia for its highly rated housing, education and schools, nightlife, and diversity.
The median home value in Columbia is $367,600, while the median rent is $1,630. 33% of the residents in Columbia are renter, so you might consider flipping your investment properties instead of renting.
Residents in Columbia are well able to afford to house. It is also a safe and clean place with plenty of space. There are also a large number of recreational facilities where residents can enjoy.
Also, Columbia ranked as one of the best cities to live in, has one of the best public school systems in the state, and established as a great city for families. You can do well as an investor and selling properties in Columbia.
Investing in Maryland’s real estate offers a promising opportunity. Maryland is ranked amongst the ten wealthiest states in the US and has the highest median income in the country.
Explore different areas around Maryland and thrive as a real estate investor.