The real estate market saw a lot of ups and downs in 2020, largely due to the COVID-19 pandemic. However, as we move towards the end of the year, it’s clear that some markets have fared better than others. With that in mind, here are the top 5 hottest property markets to watch in 2021.
1. Austin, Texas
The capital city of Texas has been attracting attention as a top place to live and work even before the pandemic. However, the pandemic has accelerated Austin’s popularity due to its low cost of living, business-friendly environment, and abundance of outdoor recreational activities. In addition, Austin is home to several tech companies, making it an attractive destination for young professionals.
2. Boise, Idaho
Boise, the capital of Idaho, has also seen a surge in popularity due to its outdoor recreation opportunities, relatively low cost of living, and a steadily growing job market. The city is a particularly popular destination for retirees, drawn to the area for its mild climate and natural beauty.
3. Nashville, Tennessee
Nashville, known for its country music and hot chicken, has become an increasingly popular destination for young families due to its strong job market, high quality of life, and thriving food and entertainment scene. The city’s low tax rates and reasonable cost of living also make it an attractive place to call home.
4. Salt Lake City, Utah
Salt Lake City has been quietly rising as a hot spot for tech companies and entrepreneurs looking for affordability and quality of life. The city boasts a strong job market, affordable real estate prices, and a wealth of outdoor activities.
5. Tampa, Florida
Tampa, located on the Gulf Coast of Florida, boasts a year-round warm climate and a strong job market fueled by the state’s booming tourism industry. The city’s relatively low cost of living, beautiful beaches, and abundance of cultural and recreational activities also make it an attractive destination for homebuyers and investors alike.
Overall, these five cities are poised for continued growth and investment in 2021 and beyond. As more people look for affordable, desirable places to live and work, these markets are likely to continue their ascent as top property markets in the US.