The cost of apartments in the USA: price analysis and interesting areas for investment

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

I wonder what attracts buyers of real estate in the US. Price, availability, credit terms? It does not matter what moves a person to buy real estate in the United States, but it helps the state to advance in the global real estate market to the leading position in terms of growth in demand.

The cost of apartments in the United States, depending on the region of accommodation, is such that most foreigners can afford housing here, regardless of the thickness of the wallet.

Attractive areas for investment

Today we will look at the most interesting areas for investment in real estate in the United States and get acquainted with the pricing policy that has formed in the market.

New York

Property value (average): $400,000.

Studio for 30 m2 in the historic part of the city (Chelsea) in the vicinity of Manhattan will cost $430,000. Such real estate is successfully rented for $3500-3700 per month. This is the normal cost of an apartment in the US, even if these rates are "biting" for you.

For an apartment up to 40 sq.month.

Breaks the cost price of real estate on Fifth Avenue, where prices start at $1.5 million

The most affordable and affordable option can be found by inquiring about real estate in East Harlem. A studio here costs only $160,000, but the area is notorious and is considered one of the most criminal in the city.

Miami

The cost of an apartment in the US (Florida) will cost an average of $250,000.

Real estate in this region has been a permanent bestseller for several decades. The local market is rich in offers and is very active. Florida real estate is attractive to the rich, and to the category of the population with average incomes, and to students.

One of the most budget-friendly options for buying a home in Miami is buying an apartment in an expat area. Here it is Little Haiti, which has become a haven for visitors from Haiti and a number of other Caribbean countries and at the same time has earned the popularity of a criminal district. Here are the cheapest apartments in the USA. For housing, they will ask from $ 70,000 (condominium option). In this case, you should not have illusions about the liquidity of real estate, because it is difficult to rent or sell it.

Business-class housing costs much more, and the option of accommodation by the sea, overlooking the ocean in a safe area of the city will cost from $450,000.

Prestigious villa with pool and private jetty in Miami-Dade will pull from $2 million

Los Angeles

Average apartment price in USA (California) based on price analysisis $500,000.

A home in San Jose, the city known as the unspoken capital of Silicon Valley, will cost $900,000, four times the average US market value.

In San Francisco, speaking of Lower Pacific Heights, the price for an apartment of 70 m2 reaches $930,000.

Progressive directions

Analysts were not afraid to put on public display the forecast of the TOP hot spots for the sale of apartments in the United States, with the expectation of the next three years. So in which cities is the newfangled trend of real estate acquisitions emerging towards the end of 2017?

Dallas

In Texas, the median apartment price is $235,000.

Projected sales increase: +31.5%.

In the coming 2018, Dallas is expected to explode the market in terms of residential real estate sales and break into the lead, as in 2016 it was only in sixth position in the ranking.

Jacksonville

Florida real estate is a few thousand cheaper. The average cost of an apartment here is $225,000.

In the next three years, a boom in sales of individual housing construction is expected up to 30.5%.

This is the most populous city and it is constantly growing. Population growth per year averages 5%. In such conditions, the market for jobs and labor migration is also developing, so housing in Jacksonville is the best investment option. Some of the experts believethat local real estate is undervalued by about 8.5%.

Orlando

Another representative of Florida, where the average sale of apartments in the US stopped at $220,000.

Projected estimate of the growth of the investment boom - up to 29%.

This opinion was formed on the basis of the authoritative recommendations of the head of the analytical agency Local Market Monitor (USA), who speaks of the economy strengthening at a good pace, population growth, an increase in the number of jobs, which in total open up more and more new prospects for investors in local properties.

Seattle

In the state of Washington, the cost of real estate is much higher than other promising areas.

An apartment here costs $425,000 on average.

Experts predict that the demand for real estate will lead to an increase in profitability up to 27%.

Seattle is the record holder for the growth in property values according to the results of statistics for the last year. The local real estate breaks records in value, therefore it deserves to be in the ranking of the most expensive in the country and takes an honorable third place.

In the next three years, the demand for buying / renting will exceed supply, which means that it promises significant dividends for those who are lucky enough to invest in a growing market and buy a one-room apartment in the USA.