What demographics are important when investing in real estate in most geographic markets?
Many people are forced to invest in a market other than where they live, because it may be too expensive to cash flow in your local market.
“What do I consider when figuring out where to invest in the US?” I can help you figure that out.
Let’s look at some statistics to learn more. US News & World Report conducted a “best in the nation” comparison–for health care, education, economy, infrastructure, opportunity, fiscal stability, crime, and environment. (Check out where your state ranked: https://finance.yahoo.com/news/best-worst-us-states-172719904.html)
According to this report, the winners are Washington, Vermont and Minnesota. So, are these good places to invest? Maybe, but there are more factors to consider when it comes to housing and investing.
What about the demographics? Here are a couple of trends to follow.
The fastest growing age group in the US is seniors! One in five residents will be 65 or older within just a few years.
So, it’s a good idea to invest today in housing that seniors want and need.
And what’s that? One level townhomes, condos, single family homes….no steps! And, it’s okay to buy smaller because seniors are downsizing from their larger family homes. Seniors also want nice neighborhoods close to appealing amenities. They may even want to give up driving.
There’s another category to include in your investment planning—singles! Millennials are getting married later, and more people are choosing to or circumstances force them to live alone.
The beauty of this is that one-level smaller units are great for both groups—seniors and singles.
No matter the geographic market you choose to invest in, take into account these two growing demographic groups.