The real estate market is constantly changing, so cities that are affordable today may not be affordable in a few years. If you’re looking to buy an investment property, it’s always ideal to buy when prices are still low.
Warning: In less than a decade, you will no longer be able to afford homes in these zip code areas
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Real estate investment expert Barabara Corcoran spoke to GOBankingRates about the cities where she predicts real estate prices will soon skyrocket.
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Barbara Corcoran’s Best Cities for Real Estate Investment
Corcoran, one of GOBankingRates’ Money magazine’s Most Influential Women, said she is personally investing in cities where she expects real estate prices to rise soon.
“I’m investing heavily in places like Pittsburgh, Pennsylvania, Columbus, Ohio and Indianapolis,” she said. “They have a young, educated population, a lot of job growth and big companies in the area.”
Here you can find out more about why these cities offer good investment opportunities.
Pittsburgh, Pennsylvania
According to Zillow, the median home value in Pittsburgh is $227,329, up 6.2% in the last year. The city has long been home to a thriving steel industry, but is also a center for industries such as advanced manufacturing, climate technology, and distribution and logistics.
There are also 88 colleges and universities, and 33% of the working population has at least a four-year college degree.
Check out: 8 Places Where Houses Are Suddenly Big Bargains
Columbus, Ohio
The average home value in Columbus is $243,838, according to Zillow, up 6.9% from last year. Demand for homes here is already very high—the average home goes on hold for rent in about five days.
According to TheColumbusRegion.com, the city has the third best business climate in the country. Major brands such as ScottsMiracle-Gro, Express, JPMorgan Chase, Nationwide and Abercrombie & Fitch are based here.
Indianapolis
The median home value in Indianapolis is $224,099, according to Zillow, up 2.3% in the last year. The city has a diverse economy, with the education, healthcare and finance sectors making major contributions, Forbes reported.
In addition, the city is also a center for sports tourism and hosts numerous congresses and sporting events, including the Indianapolis 500.
Jaime Catmull contributed reporting to this article.
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This article originally appeared on GOBankingRates.com: Barbara Corcoran: 3 Cities Where You Should Invest in Real Estate Now Before Prices Skyrocket
