With the average return for a fix and flip investment yielding 27.5% in 2023, real estate investing remains one of the most profitable entrepreneurial ventures. With home appreciation values hitting 5.70% in the first half of 2024, investors are scouring the country to find the top real estate investment markets.
Before investing a dime into a property, Institutional investment firms spend countless hours and manpower analyzing and identifying the best states to invest in real estate. For newer or smaller investors who don’t necessarily have the same resources, it’s important to understand how and where to look for the biggest real estate markets.
The Best Cities to Invest in Real Estate on the West Coast
The West Coast’s dynamic landscape of vibrant cities offers a wealth of opportunities for investors. Stretching from the sun bleached coasts of California to the scenic causeways of the Pacific Northwest, it is renowned for its natural beauty and bustling job markets. Naturally, it includes some of the best places to invest in real estate in 2024.
For investors looking to capitalize on all the West Coast has to offer, it’s critical to identify the top real estate markets to enter into, based on a location’s:
- Job growth
- Employment rate
- Population growth
- Rent index
- Property value index
- Property appreciation
Whether you are poised to invest long-term in rental properties or in short-term fix and flip projects, the West Coast offers a wide range of attractive, growing, and profitable markets to choose from.
Let’s look at some of the best places to invest in real estate in 2024:
Sacramento, California
Sacramento offers a balance of small-town atmosphere with all the desired urban appeal. As California’s capital, the city’s sector plays a significant role in its local economy. However, its growing healthcare, technology, and education industries–along with its trendy amenities and night life–has begun to attract young professionals over the past five years. Best of all, Sacramento provides investors with a cheap entry point into an otherwise expensive California real estate market. With properties selling for well under $450,000, short-term investors are salivating at the opportunity to acquire property in the area. With Sacremento’s below-average rent and influx of young professionals, it’s regarded as one of the best places to invest in real estate in California.
Sacramento Market Trends
- Home Value Index: $425,000
- Rent Index: $1,756
- YoY Home Appreciation: 5.3%
- Job Growth YoY: 2.7%
- Population Growth YoY: 1.2%
- Unemployment Rate: 3.7%
Portland, Oregon
Another West Coast city on the rise, Portland is well known for its quality of life and awe-inspiring natural beauty. The city is a major hub in the Pacific Northwest and home to a thriving industrial landscape that includes healthcare, education, computer and electronics, and athletic and outdoor apparel.
With a median home price under $500,000, and outstanding natural attractions just miles outside the city, it’s no wonder Business Insider named Portland one of the best cities to live in America. Additionally, its massive student population and ongoing growth make it one of the best cities to invest in real estate.
Portland Market Trends
- Home Value Index: $497,000
- Rent Index: $1,975
- YoY Home Appreciation: 4.8%
- Job Growth YoY: 2.8%
- Population Growth YoY: 1.1%
- Unemployment Rate: 3.9%
East Los Angeles, California
In addition, East LA is conveniently located right next to Interstate 710, providing easy access in and out of Downtown LA for commuters. This has quickly made the city a popular destination for young professionals looking for the LA experience without the LA price tag. With home prices around $450,000, and median monthly rent surprisingly low at about $1,275, the city is set to become one of the biggest real estate markets in California in the coming years.
East Los Angeles Market Trends
- Home Value Index: $450,000
- Rent Index: $1,275
- YoY Home Appreciation: 3.5%
- Job Growth YoY: 1.5%
- Population Growth YoY: 1.4%
- Unemployment Rate: 4.1%
Spokane, Washington
If you’re searching for the best places to invest in real estate in Washington state, look no further than Spokane. Washington’s second-largest city, with a population just over 225,000, has a diverse and attractive economy. With growing industrial sectors that include healthcare, education, and manufacturing, the city continues to attract young professionals and their families.
Like Portland, Spokane offers natural attractions that locals love. It’s a popular travel destination for tourists looking to partake in seasonal activities like hiking, skiing, boating, and more. With the average home valued at $365,000 and rent under $1,500, Spokane has caught the attention of consumers and investors alike as one of the best places to invest in real estate in 2024.
Spokane Market Trends
- Home Value Index: $365,000
- Rent Index: $1,475
- YoY Home Appreciation: 5.0%
- Job Growth YoY: 3.0%
- Population Growth YoY: 1.2%
- Unemployment Rate: 3.9%
ClVIC: Your Real Estate Investment Capital Partner
CIVIC offers reliable and flexible long- and short-term financing options. Whether you’re looking to build a rental portfolio or flip homes, our flexible loan options, fast approval processes, and industry knowledge help investors:
- Pinpoint the top places to invest in real estate
- Secure the funding necessary to meet their project needs
- Outpace and outperform the competition
CIVIC’s Rental Portfolio and Single Rental Loans offer:
- Competitive 30-year term loan options
- DSCR with no W2s, paystubs, or tax returns required
- SFR, warrantable cons, townhomes, PUD, and 2-4 units eligibility
If you’re looking for investment opportunities in the best places to invest in real estate on the West Coast and need a reliable capital partner, CLICK HERE to schedule a FREE consultation with a CIVIC loan expert today!
