US real estate remains the most sought-after in the world, reveals research from TheMoveChannel.com, as investors continue to bank on the country’s stable economy, rising house prices and rental demand. As of October 2017, house prices in the country have risen 68 months in a row, climbing 5.5 per cent year-on-year to a median of $247,000. Rents across the country, meanwhile, have risen 2.1 per cent year-on-year, according to Zillow, to an average of $1,430 per month.
While California, Seattle, Minneapolis and Portland lead rental growth at the moment, experts say that one market that may have been overlooked by buy-to-let investors is Mississippi. In the summer 2015, the state stole the housing spotlight, when Zillow ranked the town of Jackson as number one for rental price growth, as they soared over 22 per cent in one year alone. Since then, the area has been overshadowed by more familiar investment hotspots, such as Detroit, Miami and New York.
Mississippi’s market, though, has continued to grow, with the median house price in Mississippi climbing 3.7 per cent in the year to December 2017. Zillow forecasts an increase of 4.8 per cent in 2018. Despite this steady capital growth, the median home value in Mississippi is $115,600, far below the national average.
Indeed, Forbes has ranked Jackson as one of the top 10 up-and-coming cities for recent college graduates, thanks to its below-average costs of living, a higher percentage of open jobs for candidates with a degree, and a high concentration of young, single residents. These are all factors, though, that can spell strong returns for investors. Smart Assets ranked several cities in Mississippi in the top 30 US cities with populations over 250,000 for price-to-rent ratios (based on US Census data).
ABC Capital Investments, which has over 30 years’ combined property venture experience, highlights Jackson, Mississippi, as an investment opportunity not to miss.
“Today, the largest metro area in Mississippi is leading the charge for the state’s arts, culinary and cultural progression,” says Jay Walsh, Chief Business Officer at ABC. “But unlike many other places undergoing revitalization, Jackson maintained much of its distinct Southern charm, a characteristic that is drawing new chefs, artists and other movers and shakers to this region in droves.”
ABC has secured a portfolio of fully managed properties in the city to provide a passive wealth building opportunity for overseas investors. Thanks to prices as low as $30,000, and loans up to 50 per cent for foreigners, long-term high yields of 10 per cent real and achievable in the area. The opportunity is drawing interest from abroad, with enquiries for US real estate overall on TheMoveChannel.com surging 45 per cent in the last month.