Muskegon, MI

Population: 38,225
Average annual home appreciation rate: 6.24%
Total of homes for sale in this market:
Median home price: $66,489
Median Rent: $484 per room
Home price range: 51.35% of homes are between $47,001 – $93,000
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Most common home type: 64.56% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 13.22%
Number of renters: 48.56%
Number of owner occupied: 51.44%
Number people living below poverty level: 31.73%
Unemployment rate: 12.6%
Is this area perfect for real estate deals going on right now? Low home prices, high rent, high unemployment and poverty… Could be the perfect storm for the savvy cash buy and hold investor.

Grand Rapids, MI

Population: 189,815
Average annual home appreciation rate: 9.03%
Total of homes for sale in this market:
Median home price: $113,030
Median Rent: $644 per room
Home price range: 56.39% of homes are between $99,001 – $198,000
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Most common home type: 59.67% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 10.39%
Number of renters: 40.94%
Number of owner occupied: 59.06%
Number people living below poverty level: 25.54%
Unemployment rate: 10.0%
Is this area perfect for real estate deals going on right now? Importantly, data shows this makes Grand Rapids one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength. With low prices on the homes, high rent, and high unemployment and poverty level, this market could be a great opportunity for savvy cash investors who are interested in buy and hold properties.

Akron, OH

Population: 393,800
Average annual home appreciation rate: -0.43
Total of homes for sale in this market:
Median home price: 80,260
Median Rent: 499
Home price range: 50% of homes are between $46,000-$93,000
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Most common home type: 66% of homes are Single Family Detached
Number of vacant homes: 12.66
Number of renters: 43.38
Number of owner occupied: 56.62
Number people living below poverty level: 23.89
Unemployment rate: 7.10
Is this area perfect for real estate deals going on right now? That is a definite maybe, dependent upon one’s ability to work with distressed properties (REO’s) and investment properties (buy and hold properties used as rentals). Waiting for market rebound in depressed areas such as this has been very lucrative for those who have taken advantage of the market while it has been down.

Cleveland, OH

Population: 393,806
Average annual home appreciation rate: -3.79
Total of homes for sale in this market:
Median home price: 66434
Median Rent: 456
Home price range: 51.73% of the homes are between $46,001 – $92,000
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Most common home type: 47.40% of homes are Single Family Detached
Number of vacant homes: 21.72
Number of renters: 52.87
Number of owner occupied: 47.13
Number people living below poverty level: 32.65
Unemployment rate: 8.70
Is this area perfect for real estate deals going on right now? Cleveland might not be one of the nation’s ‘hot spots’ so to speak, but in it’s current situation with high percentage of renters, higher than national average poverty level, unemployment rate, and the large amount of vacant properties, there will always be strategies for buy and hold properties that will be lucrative for the savvy, and patient real estate investor.

Knoxville, TN

Population: 180,761
Average annual home appreciation rate: -4.89
Total of homes for sale in this market:
Median home price: 126,760
Median Rent: 529
Home price range: 42.13% of the homes are between $95,001 – $191,000
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Most common home type: 55.04% of homes are Single Family Detached
Number of vacant homes: 9.03%
Number of renters: 48.43
Number of owner occupied: 51.57
Number people living below poverty level: 24.10
Unemployment rate: 7.40
Is this area perfect for real estate deals going on right now? Knoxville is another American city that isn’t on the rebound YET for the housing market. What that means to the savvy investor, is to take advantage of the market while it is lower, and get in front of the massive growth that will be coming as the market starts to recover across the nation. Those who are able to buy their properties in the Knoxville economy now will be set and ready for the appreciation to increase right along side property values. This is a great market to take advantage of distressed properties to buy and hold, rehab, and rent.

Lubbock, TX

Population: 233,740
Average annual home appreciation rate: -9.29
Total of homes for sale in this market:
Median home price: 103,883
Median Rent: 606
Home price range: 40.99% of homes are between $100,001 – $199,000
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Most common home type: 66.21% of homes are Single Family Detached
Number of vacant homes: 9.72
Number of renters: 43.66
Number of owner occupied: 56.34%
Number people living below poverty level: 20.25
Unemployment rate: 4.71
Is this area perfect for real estate deals going on right now? Being in a “down” market for real estate in a college town can lead to great opportunities. College students will ALWAYS need a place to stay, so apartments, and multiple bedroom homes are not only sought after, but a necessity. There are multiple foreclosures in the Lubbock area that the savvy investor can take advantage of if they now which banks to work with, and what properties will be the most profitable as a return of investment. Following the old adage, “what goes up, must come down,” works just the opposite in a ‘down’ real estate market… Positioning yourself in front of the growth now, before the rebound is where REAL success in a down market takes place. There are many opportunities in the Lubbock area.

Dothan, AL

Population: 66,010
Average annual home appreciation rate: +5.09%
Total of homes for sale in this market:
Median home price: $122,953
Median Rent: $457
Home price range: 41.14% of homes are between $92,001 – $184,000
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Most common home type: 71.95% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 13.91%
Number of renters: 37.81%
Number of owner occupied: 62.19%
Number people living below poverty level: 17.56%
Unemployment rate: 5.9%
Is this area perfect for real estate deals going on right now? There could be many opportunities in the Dothan market for the savvy cash investor.

Panama City Beach, FL

Population: 12,092
Average annual home appreciation rate: 1.95%
Total of homes for sale in this market:
Median home price: $203,871
Median Rent: $844 per room
Home price range: 34.05% of homes are between $170,001 – $255,000
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Most common home type: 65.63% of homes are COMPLEXES OR HIGH RISE APARTMENTS
Number of vacant homes: 68.19%
Number of renters: 38.65%
Number of owner occupied: 61.35%
Number people living below poverty level: 10.48%
Unemployment rate: 9.90%
Is this area perfect for real estate deals going on right now? Data has pointed out many factors that could lead to the Panama City Beach area being a good place to get started in Real Estate Investing.

Columbia, MO

Population: 110,438
Average annual home appreciation rate: 4.44%
Total of homes for sale in this market:
Median home price: $165,068
Median Rent: $637 per room
Home price range: 47.20% of homes are between $102,001 – $204,000
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Most common home type: 50.68% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 8.86%
Number of renters: 51.48%
Number of owner occupied: 48.52%
Number people living below poverty level: 22.95%
Unemployment rate: 5.3%
Is this area perfect for real estate deals going on right now? Based on the statistics in Columbia and the demographics unique to Columbia, savvy cash investors have had success in short term investing and buy and hold rental properties.

Jefferson City, MO

Population: 43,332
Average annual home appreciation rate: -1.55%
Total of homes for sale in this market:
Median home price: $131,865
Median Rent: $451 per room
Home price range: 52.36% of homes are between $102,001 – $203,000
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Most common home type: 61.39% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 9.77%
Number of renters: 40.31%
Number of owner occupied: 59.70%
Number people living below poverty level: 13.49%
Unemployment rate: 6.0%
Is this area perfect for real estate deals going on right now? There is always opportunity for savvy real estate investors in a market that has been ‘down’ for some time.