The Best Places to Buy a House in the US Right Now

Posted On Monday, 06 June 2022 19:28

Short-listing the best places to buy property in the US is tricky, with many areas to choose from and many variables to consider. Of course, other than affordability, buyer priorities can differ significantly, but overall, variables such as economic strength, job growth, crime rates, and access to amenities all feature highly. 

Considering a wide range of metrics, Zillow released a report at the beginning of the year, predicting that Tampa, Florida, will be 2022's hottest market. But, as we head towards the second half of the year, just how has Tampa fared, and where are the best places to buy property in the US right now?

Tampa, Florida

Without keeping you in any suspense, Tampa does indeed top our list for the best place to buy US property in 2022. With so many potential buyers, a flourishing job market, and low inventory levels, Tampa's home values continue to soar with no signs of slowing down. 

Tampa's average home value currently sits at $398,384, representing a massive 34.9% increase year on year. Tampa has long been a favorite US destination, with year-round sunshine and a thriving economy contributing to its reputation as one of the most desirable cities for buyers. 

San Antonio, Texas

The Alamo city of San Antonio is another market that is experiencing a steady growth in property values, with many well-priced properties achieving multiple bids thanks to the currently tight inventory levels. 

While property prices are climbing at a current rate of 24.9% year on year,  there is still plenty of appreciation room in San Antonio real estate. The city's population growth is epic, and its diverse job market bolsters a healthy economy, leading to predictions of significant growth moving forwards. 

The average price of a San Antonio home is currently $293,022.

Raleigh, North Carolina

Large numbers of homebuyers have been flocking to Raleigh in North Carolina for a few years now, thanks to its thriving job market and relatively low cost of living.

Being home to many universities and colleges, Raleigh is unusually rich in local educational opportunities, and this further guarantees the likelihood of achieving sustained real estate appreciation. It also makes tenant voids unlikely should you choose to invest in Raleigh real estate and rent out to students. 

Property prices in Raleigh currently average $448,197, having risen by 34.8% year on year. 

Nashville, Tennessee

Nashville may be famed for its rich - current and historic - musically talented residents, but other major industries abound. Nashville is Tennessee's biggest metropolitan area (and capital city), with major industries including agriculture, energy, and automotive manufacturing. 

The music capital has experienced tremendous growth in the last ten years, with property prices increasing by 31% year-on-year. The current average price of a Nashville home is $437,176.

Charlotte, North Carolina

Another significant University Town, Charlotte in North Carolina, is a renowned business and financial hub attracting many young professionals. 

Thanks to the current trend of investors and developers focusing heavily on Sun Belt areas like Charlotte for maximum growth potential, Charlotte is one of the hottest markets in the US. It boasts a fantastic year-round climate, and a diverse and growing economy. It is also the second-largest US financial center, home to the Bank of America's headquarters, with many residents employed in the financial services sector. 

Currently, average Charlotte property prices are $388,437, up 29.8% year on year. 

Jacksonville, Florida

The slower pace of Jacksonville offers its residents an opportunity to live a more suburban lifestyle while enjoying all the city benefits. Its wonderful Florida-Esque year-round climate, business-friendly government, and attractive cost of living make it an excellent choice for investors and anyone looking for an exciting change. 

The city of Jacksonville sits along the St. Johns River, while nearby beach communities are within easy reach for the best of both worlds. In addition, Jacksonville is a progressive city that is hard to beat for investment, particularly given that, despite recent considerable growth, home values are still highly affordable.

Jacksonville property prices are currently averaging $296,359, up 30.6% year or year. 

Las Vegas, Nevada

Investors know that the Las Vegas real estate market is stable and predictable, and with an influx of new businesses, the economy is recovering well after the pandemic. 

Another region famed for one particular industry, Las Vegas may be known for its casino scene, but the gambling sector is only one of the major industries thriving in the largest city of Nevada. Las Vegas enjoys a diverse economy driven by commercial interests such as tech and health-related industries, and the population is growing significantly. 

Property prices in Las Vegas are currently averaging $431,289, up 33.6% year on year. 

Final thoughts

Many property markets in the US continue to thrive thanks to high demand and low inventory levels. Still, there are some stand-out options that represent significant appreciation opportunities given the economic strength and amenities of the area in question. 

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