The Midwest has long been known for its friendly people and affordable living, but now it’s catching the eye of savvy real estate investors too. With bustling cities, strong job markets and room for growth, the heartland is becoming a hotspot for property buyers looking to make smart moves in the next few years.
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GOBankingRates reached out to Drew Heberer of Heberer Homes, a seasoned real estate pro from Iowa, to get the scoop on which Midwest cities are worth watching. Here are his top five picks for the best places to buy property in the next five years.
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Des Moines, Iowa
Den Moines is a city is on the rise, and Heberer is all in on its potential. “Des Moines is a very cool investment town in the surge of employment and housing,” he shared.
It’s not hard to see why. The city’s been quietly building a reputation as a hub for insurance and financial services, but it also has a growing tech scene that’s bringing in young talent. Add in a surprisingly hip food and culture scene, and you’ve got a recipe for a city on the move.
What’s really catching investors’ eyes, though, is the housing market. Des Moines offers a mix of charming historic homes and new developments, all at prices that make big-city dwellers do a double-take. With more people discovering what Des Moines has to offer, property values are expected to keep climbing.
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Indianapolis
This Midwest metropolis is about so much more than race cars. According to Heberer, it’s zooming ahead in all the things that make it a great future investment.
“Indianapolis is among one of the fastest-growing cities in the U.S. by population and with a strong economic growth report, this city is one of the best prospects for property investment,” he said.
Indianapolis has a diverse economy that includes everything from healthcare and tech to manufacturing and sports. The city’s also been investing in itself, with projects like the Cultural Trail making it more livable and attractive to newcomers.
For real estate investors, Indianapolis offers a little bit of everything. The downtown area is seeing a resurgence of interest in urban living, while the suburbs continue to expand with new developments. With housing still relatively affordable compared to coastal cities, there’s plenty of room for property values to appreciate.
Columbus, Ohio
Don’t let its reputation as a college town fool you — Columbus is growing up fast. Heberer pointed out that “Columbus is also one of the centers for technology startups and learning, which are giving rise to the real estate sector.”
The Ohio State University is still a big draw, but now it’s joined by a booming tech scene that’s earning Columbus comparisons to Silicon Valley (minus the sky-high costs). Major employers like Nationwide Insurance and JPMorgan Chase provide a stable job base, while startups add an entrepreneurial energy to the mix.
All this activity is great news for the real estate market. Young professionals are flocking to trendy neighborhoods like the Short North and German Village, driving demand for urban housing. Meanwhile, families are finding value in the city’s diverse suburbs.
With the city continuing to invest in development and attract new businesses, Columbus looks set for steady growth in the coming years.
Kansas City, Missouri
Accprdong tp Heberer, Kansas City is about more than just barbecue and jazz (although those are two pretty great things). He also sees it as “an enchanting land for any young professional or family member, with a downtown rebirth and rising suburbs.”
He’s not wrong. The city has been putting a lot of effort into revitalizing its downtown, and it’s paying off. The Power & Light District has brought new life to the area, while the streetcar has made public transportation around actually fun. An even bigger deal? Tech companies and startups are moving in, attracted by the city’s affordable cost of living and pool of talent.
But wait, there’s more! KC’s suburbs are seeing plenty of action, with new developments popping up to meet growing demand. So, let’s run down the check list. Historic homes with character? Check. Brand-new builds with all the modern amenities? Check. Turns out, Kansas City’s got something for every taste and budget.
Omaha, Nebraska
Omaha might not be the first city that comes to mind when you think “real estate investment,” but that’s exactly why it’s worth a look. “Omaha’s stable economy and low unemployment rate make it a secure and profitable investment option,” said Heberer.
Omaha’s got a few things going for it that make it a nice place to invest. For one, it’s home to several Fortune 500 companies, including Warren Buffett‘s Berkshire Hathaway. This means there’s a solid economic base, but it’s also attractive to new businesses.
In fact, the growing start-up scene is making Omaha a stop for up-and-coming young professionals. Add in the thriving Old Market area with its dining scene and you’ve got an exciting place to invest.
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This article originally appeared on GOBankingRates.com: 5 Best Midwest Cities To Buy Property in the Next 5 Years, According to Real Estate Agents
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