Will These Be the 5 Best Real Estate Markets of 2025?

Dave:
It is 2025, and everyone wants to know what is the best real estate market to invest in here in this new year. You’re probably seeing it on Yahoo or on whatever news source that you look at, but there’s all sorts of types of lists, hottest markets that are coming out, and today we’re going to try and make sense of them rather than actually doing our own analysis. We’re going to be reviewing some analysis from other providers, specifically from ra real estate investing. They’ve put out a list of their top 10 real estate investing markets for 2025, and we are going to review that to help me do that. I have two friends joining me today. We have Austin Wolff, who’s an analyst here at BiggerPockets. He’s been on the show a couple times now. Austin, welcome back.

Austin:
Thank you. Happy to be here.

Dave:
Thanks for joining us. And we also have Garrett Brown. Garrett, could you introduce yourself to the audience here?

Garrett:
I’m super excited to be on, I work at BiggerPockets as the short-term rental expert in all things short-term rentals here and super excited to talk about markets all day.

Dave:
It’s great. So yeah, we are bringing in sort of our internal expertise today. I do a lot of work on market analysis. Austin is obsessed with it. He talks about it all the time, and we needed some input because obviously the best markets for long-term rentals, not necessarily the best markets for short-term rentals. So we’re pulling Garrett in. Thank you for joining us to lend us your expertise. So let’s jump into our list today and we’re going to first just maybe start a little bit by understanding the criteria that went into this. So Austin, I know you’ve looked at this, critiqued it a little bit. Can you tell us how neurotic came up with their list of the top 10 markets? How would you evaluate their criteria and how they’re dredging these markets before we jump into any of the specific ones?

Austin:
Yeah, I really like most of the cities on this list. I think that they’ve analyzed demand pretty well. These are very, very hot markets that have a lot of demand. It doesn’t look like they also incorporated supply into the mix just because certain cities have also been adding a lot of supply such as Phoenix and Austin. So I find that interesting and I do want to push back on some of these cities, but honestly, I think in the long term of the next 10 and 20 years, all of these cities are good picks if you can afford to be in them.

Dave:
Okay. Alright, that’s good to know. Garrett, what sort of spin would you put on or do you think we need to put on for analyzing these markets for short-term rentals?

Garrett:
I think a lot of it, especially in some of these being bigger markets, the two of the big things that stuck out to me are the regulation that’s going on in some of these markets and how close these might be to some more destinations that tourism actually brings in. So there’s even Grand Canyon and things like that that are near places like Arizona. Those all add a lot of factors into how much of the tourism population is actually going to come in. But regulation is a big one in a lot of these cities and so that’s something that needs to be paid attention to as short-term rental investors are looking at some of these markets possibly.

Dave:
For sure. And just to be fair to ada, some of ’em we’ll probably agree with, some we disagree with. They were not saying that they were evaluating these for short-term rentals. We’re just putting our own flavor on this because we thought it would be more fun. So before we jump in, just two things. If you want to get Austin’s list of markets that he put out, they’re going to be a little bit different, but we’ll put a link to that. But he was also recently on the show listing his 13 hotspots and I’ve also sort of put together a guide for how you can maybe invest in any of these markets called the state of real estate investing totally free. You can check that out, biggerpockets.com/resources. You can find both of those things for there. Alright, let’s start with number five. There’s actually 10. We’re going to start with the top five and if we have time we’ll go into the other one. So let’s start at number five, which is Phoenix, Arizona. Austin, I’m going to call on you first here because you have experienced living there. Tell us about what’s driving so many people to Phoenix.

Austin:
So I was born there. I was sort of raised there for half of my life before we moved to Los Angeles. And my experience the first half of my life there as a child I guess is a little bit different. We left during the great recession. So those first 12 years, I mean the entire economy was, majority of it was just real estate. My dad was actually a loan officer, which is very funny.
So when I first started hearing whispers that Phoenix was really up and coming, this was in 2018, I was asking my real estate agent there. I’m like, what’s the deal with Phoenix? Why are we all going back here? We learn our lesson. And she was like, no, Austin, the economy really has diversified ever since the great recession. And she was absolutely right. The economy’s completely diverse Now, even if the housing market were to tank again, somehow in the future, Phoenix is going to be just fine that they have tech, they have healthcare, they have so many other jobs that have been added into the area, the chip manufacturing plants that are going in. It’s insane how many jobs are being added into this area and how diverse there are. So as far as economies go, Phoenix is bustling.

Dave:
When you’re looking at the ADA criteria or methodology here, it does seem like they’re just banking on house prices. Is that just the whole strategy that they’re looking at here?

Austin:
That’s what it looks like. They also had in parentheses the words Retirement haven.

Dave:
Okay.

Austin:
And one thing I really want to point out is weather. So I don’t like the heat there. It’s 110 degrees, it’s too hot for me. But that being said, it is dry. It’s not humid at all. So a lot of people can handle it. And I was talking to my girlfriend’s father during a day when we had 110 degree weather and he goes, I love it. It’s good for my bones. I’m not in pain anymore. And I’m like, I understand now why so many people love Phoenix if it can help with joint pain. I get it. That makes sense.

Dave:
Yeah, the weather, it’s probably polarizing. I don’t think it has universally good weather. It’s not for me personally, but I get that people like it. But I think the thing about a market like Phoenix for long-term rental is it’s just cashflow. It’s going to be very, very difficult to find. Do you know Austin, what the median home price is in Phoenix?

Austin:
Based on the data that I’m looking at right now, the median price in 2024 was 459,000 approximately.

Dave:
That is cheaper than I thought it was. I sort of put Phoenix up there with Denver now in my mind or some of these west coast cities, but that’s definitely cheaper than Denver and a lot of these other markets as well. So maybe it is more affordable than I thought.

Austin:
Yeah, it’s more affordable than Salt Lake City and Denver. It’s a little bit above the national median.

Dave:
Okay. What about as a short-term rental market here, Garrett? How would you evaluate Phoenix?

Garrett:
I think it’s a great market for the amount of people that actually come into the town, but out of all the cities on the list, it has 40,000 short-term rentals, which is almost double compared to every single other

Dave:
God, my God.

Garrett:
According to Air DNA between Phoenix and Scottsdale, they have 40,000 short-term rentals. So their occupancy rates and their average daily rates have been rising. I think they rose about 5% each over the year. But regulation and saturation there would probably deter me and the average home price is a little cheaper than I was expecting. I was thinking it was going to be closer to the six hundreds.

Dave:
Same.

Garrett:
So hearing that, if you find the right deal, it seems like there’s a lot of people coming in, but I would be very wary about oversaturation and regulation coming into play in that market.

Dave:
Yeah, that’s a good point. I’ve honestly never been, but I’ve always wanted to go to Scottsdale and play golf, so I’d imagine that a lot of people do that and it draws a lot of people for vacations.

Garrett:
I went out for a bachelor party and it was easily one of the best ones we’ve done out there. So

Dave:
Yeah. What’d you do on the bachelor party?

Garrett:
We went golfing and we were just some great refined young gentlemen just hanging out in a lovely retirement hat.

Dave:
Yes. Well, when I saw Phoenix on this list, I thought expensive. Maybe I was wrong about that. I mean it’s all relative, but it’s less expensive than I thought. The two things though is Phoenix has had a relatively flat market. That doesn’t mean that it will stay flat, but it is one of those markets that grew so quickly during the pandemic that I would be just cautious about investing there this year, making sure that you’re buying at a good value. The other thing is it’s one of very few markets in the country that saw rent declines for single family homes last year. So I guess this is my question about Ada is are they just saying prices are going up? Because to me the rent declines is a pretty big concern as an investor. I think long-term Phoenix is probably going to do just fine, but is it the best market for 2025? I have some questions.

Garrett:
They did just pass a DU law though that will allow, I think up to, I can’t remember, I don’t want to misquote it. It was either two or three ADUs in your backyard that can now be used as short-term rentals as well. So that adds another layer of complexity from a long-term rental, short-term rental perspective for Phoenix too that is kind of just as an ever-changing landscape over there as it grows. Interesting.

Dave:
Good to know. Yeah, I mean that could add even more supply, but it could also make house hacking even more viable because you can now just offset some of your income. Good to know.

Garrett:
Yeah, that’s what they were pushing for.

Dave:
Alright, we got to take a short break, but stick with us for more on 2020 five’s hottest investment markets. We’ll be right back. Welcome back to On the Market. I’m here with Garrett Brown and Austin Wolf talking about the top 10 markets in real estate investing for 2025. Alright, let’s move on to our number four, Tampa, Florida. I feel like this has been on every list forever. Actually, I just want to go on the record and brag because I’m wrong often, but our first episode of this show ever, we had to pick a market that we thought was going to be great forever and I said Tampa, and I think I was pretty right about that

Garrett:
One nice call.

Dave:
But Florida has been sort of controversial over the last couple of years. So let’s start with you on the short-term rental here side. Garrett, what do you think about Tampa?

Garrett:
I think Tampa is one of the better markets on the list from a short-term rental perspective. Even Air DNA who is basically the short-term rental data leader in the industry, they have a score that they rank cities on from zero to a hundred and they’re ranked at 83, which is very high on the list. Even their occupancy rates have grown by 11%. Their average revenue for the short-term rentals in the area has grown by 10%. But that would be an area that I wouldn’t worry too much about saturation, but insurance rates are going to be really critical in that area that they might price you out of something that could work. So that would be my wary in the Tampa area, but I think it is a great market to get into if you can find the right type of deal to get some value, add in a good location there. So I’m pretty gung-ho out of all five on the list of Tampa.

Dave:
Alright, I like it. Found a hot one. What about you Austin? What do you think?

Austin:
Yeah, with respect to Tampa, the overall market has done very well. Five-year population growth, household growth, job growth, income growth, all greater than the national media. The only thing I’m worried about is coastal Florida, Gulf of Mexico, they’re all ground zero for climate change disasters to occur. So that drives up insurance costs can potentially damage your house. So I really think that location matters if you are wanting to get into this market. There are certain spots in the Tampa market that are going to be just fine and certain spots in the Tampa market that are more likely to see more damage as time goes on. So I really think that location matters probably even more here than it would in Phoenix.

Dave:
Yeah, absolutely. Unfortunately, I guess my great uncle lost his house recently in the hurricane here, so it just happens. It’s sad, but these things are happening with the last two years. Tampa specifically has just gotten crushed and there’s no knowing if that trend will continue, but it is definitely going to lead in the short term for higher insurance costs. The thing I really like about Tampa is I feel like a lot of the Florida appeal is based on tourism and lifestyle, which is fine, especially, I don’t know Gary, you tell me, but I think for short-term rentals that’s fine, but I think what Tampa has is a lot of that, but it also has a really good economy. There’s a lot of big major employers there. There’s a big financial hub in Tampa. There’s, to me a little bit more fundamentals. There’s a stronger foundation for price growth and for values in Tampa than in other places in Florida.

Garrett:
I definitely think anybody analyzing short-term rentals in a lot of these markets, if it doesn’t pencil out as a long-term rental, then I would be a little wary just because a lot of these are more major metro areas that could at any point change the regulation. So if you’re analyzing as a short-term rental, you should also analyze it as a long-term rental and if both options work then it might be something that you might want to take a swing on.

Dave:
Alright, well Tampa coming in at number four. It sounds like we all kind of agree Tampa’s pretty solid, you got to look out for those insurance costs, but definitely one of the stronger markets and has I think still has a lot of upside. Especially I should mention that the median home price in Tampa right now is 376,000. It’s still below the average in the country, so that to me is what’s super intriguing about it. Alright, number three. This one is going to be a hot button. Austin, Texas, Garrett, you are a Texas man. Take us away

Garrett:
From a short-term rental perspective. Am not a big fan of the Austin, Texas market. I think it is probably one of the more saturated markets in the area, even though San Antonio has probably more regulations coming in. I think there’s outer banks of San Antonio that make a little more sense from a short-term rental perspective. And I think just in those past couple years people saw the ability to turn Austin into more of a tourism area and I’ve never seen so many unique builds go up within a year or two in one particular area. So it doesn’t have anywhere the amount of listings. I think they have 27,000 short-term rental listings over there, which is quite a lot, not as much as Phoenix, but just from the perspective of the amount of super high end unique stays that have been built. You’re going to be competing with some very heavy hitters out in that market and it’d be something I personally would avoid. It’s in my backyard and I still avoid it.

Dave:
Yeah, I think Austin, this is sort of like the epitome of what you said by them ignoring the supply side of the things, right?

Austin:
Absolutely. We’re still scheduled to get quite a bit of multifamily supply online, but that being said, one thing I would like to almost push back on is you can add all the supply in the world and as long as demand catches up, it won’t make a difference. Demand has more or less been sort of catching up over the past few years now this next year and 2026 might be tough for multifamily investors, but the vacancy rate, which is a direct relationship between how many units there are in total and how many are occupied, that difference is the amount of vacant units, hence the vacancy rate. That vacancy rate has been declining over the past eight years. And basically the gap between the amount of total units and the amount of units occupied has been shrinking over the years, even with all this additional supply being added on. So again, this next year or two might be tough for the multifamily investor, but honestly in the next five years I still think that demand is going to catch up to supply.

Dave:
This is sort of the conundrum of 2025 to me at least. We’ve talked about it on the show a bunch, but a lot of the markets with the best fundamentals are doing the worst right now. Austin is the prime example of that. Phoenix I think kind of falls into that bucket as well where they’re sort of victims of their own success. The supply is coming because they’re popular markets because the fundamentals are strong. And so in a way, yeah, it’s not the obvious choice, but maybe they are good markets in 2025, I’m kind of coming around on this idea that now might be a good time to buy in these types of markets because prices are down and you might be able to find a good deal. I wouldn’t buy at market value right now in these markets, but if you could find a good deal and you’re a long-term buy andhold investor, it could work pretty well in 2025, at least to me. Alright, let’s move on. We’ve talked about a couple more expensive markets, generally speaking. Our next one, maybe I’m going to be wrong about this is Nashville, Tennessee, which I feel like is our first more affordable market at least relatively. Oh, I was completely wrong. I don’t know anything. Nashville’s more expensive than Tampa? Who knew that? Did you guys know that?

Garrett:
Yeah, I would’ve definitely just from the rise I’ve seen in Nashville over the past few years, I knew it was a pretty expensive market. I have some short-term rental friends that operate out over there.

Dave:
Geez,

Garrett:
Their mortgage payments are up there. They definitely are in the top. Yeah.

Dave:
Wow. Well, this just shows everyone who finds me on the street and is like, Hey, what’s the meeting at Home Press in Miami? I don’t know, I looked this stuff up. Wow, okay. Nashville, 428,000 bucks. I kind of thought it was cheaper. I was dead wrong. Austin, tell us about it as a long-term investing place,

Austin:
If you can afford to be there, the underlying metrics still look very healthy to me. The population growth, the job growth, income growth, again all greater than the national average. And as far as supply goes, about 2.7% of the total existing units were permitted in 2023. Just for reference in Austin, Texas, that number was 3.9. So they’re adding less relative supply there than they are Austin, Texas. And meanwhile, household growth is still rising. So I mean the fundamentals might be even better in Nashville. That being said, I also want to point out their property taxes are less than Austin, Texas. So you could get a property for relatively the same price, relatively the same rent, comparable underlying fundamentals and pay less in property taxes.

Dave:
Oh, I like the sound of that.

Austin:
Yeah, I kind of like Nashville a little more than Austin. I mean Austin’s tech team is larger and it’s still adding more tech jobs than Nashville, but I think that’s totally fine. Don’t, just because a market doesn’t have as many tech jobs as Austin doesn’t make it not great. I really like the fundamentals with Nashville so far.

Dave:
Tell us a little bit about the economy. I know Austin, you see these huge high profile companies moving there all the time and all this stuff going on. What’s driving this job growth and economic growth in Nashville?

Austin:
As of right now, healthcare is sort of the leading industry. I know that Oracle is moving their headquarters to Nashville. They’re literally leaving Austin and going to Nashville because they want to service more healthcare providers. So healthcare seems to be the leading industry in Nashville as well as tourism because big cultural hotspot, A lot of people on the east coast, the Midwest love to have their bachelor bachelorette parties there. There’s a lot of stuff going on in Nashville.

Dave:
Yes. I mean I think that’s what most people know it for at this point. What about from a short-term rental perspective? I know Tennessee in general a lot going on in short-term rental, but Nashville obviously bigger city. So what’s going on there?

Garrett:
I agree with Austin. It’s definitely one of the biggest hotspots in that area for people visiting just based off the cultural and bachelorette bachelor parties, things like that. Regulation is very tight there as well. They’ve really starting to clamp down in that area. But according to Air DNA, this is one of the higher performing cities in the country right now. They rate it at 82 out of their a hundred scale and every single metric they have, even the average annual revenue that they expect host to make jumped 7% from 56,000 per year to 63,000. But they’re the only one on the list that had 0% occupancy growth, which means that

Dave:
Their

Garrett:
Demand and their supply in the short-term rental market was even paced. Every single other city on this list at least had a growth in occupancy. So that would make me a little nervous that they might be reaching the point of just having maybe quite too many few rentals in particular areas and that’s why they’re cracking down on them. But it is a great market if you can find a relatively affordable place, which is a little tougher in Nashville than some people would think.

Dave:
Yeah, I mean there’s something, I don’t know how to quantify this, but it’s definitely true in short-term rentals. We talk about it, but I think it’s true in long-term rentals too, is like these markets I personally haven’t gone to because they feel so hot to me, they’re so obvious. But you’re going to face a lot of competition from other investors and I think that’s something that I feel like you will experience in all of these markets, especially if you’re an out-of-state investor. It’s hard to go into a market like Nashville in my opinion, where there’s a lot of people who’ve been doing it for years and know the market really well and there’s a lot of competition. So that’s what has honestly driven me to sort of smaller markets is because it feels a little bit more like you can be a bigger fish in a smaller pond a little bit than this kind of thing. And I think all of these probably fall into that bucket, but I’m just curious what you think of that sentiment. Would you add that criteria to your own investing? I’ll start with you Garrett.

Garrett:
Me personally, I am not a fan of, in the short-term rental world, going into a major metro market. I like being maybe 60 minutes away from a major metro market. Then the affordability is going to shoot through the roof. The complexities of permitting go away when you’re in a town that is thriving off of tourism dollars and getting people from those major metro hubs to come to you. So me personally, when I’m looking at areas, affordability just becomes way more achievable in areas that are close to these major metro hubs that you get the benefit of all the people moving in, but you’re not having to deal with the tightening restrictions and just the price rises that are occurring and some of the better markets. So it’s all about your personal preference and your long-term goals. I know some people that have been in the market that do well, but me, myself, if I’m getting in there, I know I’d rather be a big fish in a smaller pond that I know I can build up something from my experiences in other areas.

Dave:
What about you, Austin? I know you just did your first deal, but did you consider that when you were investing?

Austin:
Yeah, the markets that I’ve been looking at before I made this deal were Los Angeles, Phoenix, Austin, Atlanta. There’s a lot of competition there. And then when I bought my first property in Fayetteville, Arkansas, I mean northwest Arkansas isn’t even on many lists or even many brokers websites when they release market data, for example, Marcus and Millichap, they don’t even have a section on northwest Arkansas, at least not right now. They do and it’s very helpful to my peace of mind knowing that there is less competition from the big players in the market. I mean, I live in Los Angeles, there’s international investors investing here. I met someone from South Korea who’s like, I need to buy a house in Los Angeles. And he goes, where do you live? And I go, I live in Arkansas. He goes, what’s that? And I’m like, oh man, this is crazy. Yeah. So I will say competition is a real thing. I mean, especially in these coastal cities, when you have competition from all over the world, it’s hard. And when you have more demand and supply that drives prices up. So it’s harder for the investor to get their foot in the door.

Dave:
I just think you want to figure out where you’re going to have some sort of advantage. And it can be hard if you don’t know the area and you’re just coming in and it’s a very well-known market. It’s like everyone knows Nashville is a good investing market. So it’s like are you going to just be one of 300 out-of-state investors trying to land a duplex? That to me is an important question

Garrett:
While competing with the people that are already there and have built all the networks and everything.

Dave:
Exactly,

Garrett:
You’re coming in from, you’re not on the team there, so you’re going to have to wiggle your way in and it becomes a lot tougher.

Dave:
Alright, time for one last word from our sponsors, but stick with us. We’ll be talking about the number one market for 2025 right after the break. Welcome back to the show. Let’s pick up where we left off. Alright, well let’s go to our number one market. I do like this market is Charlotte, North Carolina. I’ve always liked North Carolina as a market. I know Austin does too. It’s got a lot going for it. It’s got a lot of the weather thing that people like. It’s got great education and Charlotte itself is a huge hub for finance. I think there’s a ton of insurance companies there. It’s just got a lot going on and people who live there seem to love it and I know it’s hard to quantify that, but I do think that quality of life thing does matter a lot. So Charlotte is the number one thing. Garrett, is this a market you would ever or you know anything about in terms of short-term rentals?

Garrett:
Absolutely. This is the number one out of every city on the list. This was the highest score on the air DNA market score. This was a 90, which is very, very hard to reach on air DNA score, there’s a metric called revenue per available room within the short-term rentals that we look at a lot, which is pretty much how money you will make on each room. You have in your listing this shot up to $120 per room per day, which is a 13% increase, which is insane in a
Per yes in one year, 13% in one year. So if you have a four bedroom house, I’m not a math guy like that, but 13% for each room, you can calculate that together. That’s a lot. So Charlotte is definitely a great area to be in. Again, restrictions and regulations are coming into play, but as a short-term rental investor regulations shouldn’t scare you because that is going to basically knock out the shady players in the game. The people that don’t do safety regulations, the people that give other short-term rental hosts bad names, they’re going to be the ones that are not going to follow these regulation and permitting rules. So that should not be something that completely intimidates you to just be aware of. But Charlotte, I see why it’s number one on the list from a long-term rental perspective and as a short-term rental perspective, I think it should be number one out of all of them as well.

Dave:
Alright, I like it. Endorsing the number one. Austin, what do you think?

Austin:
Yeah, as far as long-term rentals goes, Charlotte’s a winner. The median price is below the national average, yet it has some of the best underlying fundamentals that I’ve seen. I literally just recorded a YouTube video yesterday on why I think North Carolina is going to be the next boom state and Charlotte and then the Raleigh market I think are two of the strongest markets in the nation right now that are affordable. I still think that Salt Lake City and Boise are some of probably the best markets to be in if you can afford them. But again, they’re very expensive right now. So for the average investor, yeah, Charlotte’s amazing.

Dave:
Nice. Well, I mean I’ll spoil it. We’re probably not going to have time to go into all 10, but Raleigh is number six on this list. We started at number five, but so Raleigh and Charlotte both really high up on there. I think there’s a lot going on in North Carolina and the fact that you said that it’s still affordable bodes really well and it just seems like a high quality place to live. So I wouldn’t disagree with this just based off the bat. I think you look at some of the rent growth trends that look like they’re going to continue in North Carolina Bode well for long-term investors for sure.

Austin:
I do want to point out one more thing about North Carolina. They have one of the lowest corporate income tax rates in America right now at 2.5%.
There are other states out there that have zero corporate income tax such as Washington, Wyoming, South Dakota, Texas, Ohio. But a lot of those other states incorporate something called the gross receipts tax, which is basically a tax on your gross revenue. You can’t even deduct business expenses at that point. So that actually increases tax burden for consumers or for companies. The only two states that have zero corporate income tax and no gross receipts tax are Wyoming and South Dakota. Those places are pretty cold and they don’t have a lot of business there. North Carolina by 2030 is reducing their corporate income tax rate to 0%. So it will be the third state with zero corporate income tax and no gross receipts tax. So I think that not only do you have finance in Charlotte, you also have the life sciences hub in Raleigh. I think more businesses are going to go into these two places for that reason as well. So one more reason why I think Charlotte and Raleigh are great markets to be in.

Garrett:
I don’t know if y’all saw U-Haul S top states that people are moving to in 2024. I think Texas had been number one for eight years, but South Carolina is now number one. Texas is number two and North Carolina is number three. I thought it was a pretty interesting list. It’s a very interesting source to hear from somebody like that that has I think 230,000 locations.

Dave:
Yeah, it’s great data

Garrett:
That gave this, yeah, great data and they even broke down zip codes that people are moving to, which I think six of the top eight were in Texas, so this interesting stuff all around. But North Carolina was number three and South Carolina was number one. So Carolina is our holding strong there.

Dave:
Alright, well we’ve made it through our top five. We’re not going to have time to discuss the other five in detail, but I do want to just list them. We said Raleigh, North Carolina from the little, I know there it’s pretty expensive, but universities, a lot of tech jobs, a lot of growth, probably going on there. Number seven, Atlanta, Austin. And you mentioned you were looking there. Atlanta has been just absolutely exploding, but from what I understand it’s gotten quite expensive.

Austin:
Yes, very much so. The two places I was looking at were basically outside of Atlanta because inner Atlanta was way too expensive for me.

Dave:
Yeah, yeah, it’s gotten very expensive for good reason. The economy is just booming there, so a lot going on. Number eight is Jacksonville, Florida. I feel like Jacksonville was super popular with investors a couple of years ago and I know some people who did not do so well. So I’ve always sort of had this adverse opinion about it, but I don’t know if any of you have quick thoughts on it.

Garrett:
It rates very highly in the air DNA score as well. I think they were about an 82, but I also think it is quite saturated for the actual amount of tourism that goes there from the data I’ve kind of looked at. So I personally think Tampa is probably the better one out of the two.

Dave:
Number nine is Dallas, Texas, that’s often on these lists. Really good diversified economy there. Number 10 I’m going to pick a bone with, which is Denver, Colorado. I invest there and I believe in the long-term growth of Denver, but it’s kind of like Austin, it’s just oversaturated right now. There’s a lot of supply, rent growth has been negative. Price growth has been very flat or even negative and so I think Denver will come back, but I am not quite sure 2025, which is the year I’m going to start buying again in Denver, we’ll see. But as of right now, it’s probably wouldn’t be my top choice. Alright, well thank you both so much for coming. This was a lot of fun. I appreciate you joining and adding so much value to us. Garrett, thanks for making your first appearance on the market.

Garrett:
Happy to come on anytime. I appreciate y’all having me

Dave:
And Austin, thanks for joining us as always, really helpful learning from you and your market expertise.

Austin:
Yeah, I would talk about markets for free all day any day, so

Dave:
Don’t say that too loud. We might ask you to. Yeah, right. Alright, and thank you all so much for listening. If you want to check out Austin’s list of hotspots or the episode where he came on to talk about that specifically, we will definitely put a link for that below in the show description or the show notes, depending on where you’re listening or watching. Thank you all so much for listening to this episode of On the Market. We’ll see you again soon for another episode.