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Forbes ranks Provo No. 2 city to invest in housing during 2015

Forbes ranks Provo No. 2 city to invest in housing during 2015

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PROVO — A new Forbes’ report named the top 20 housing markets to invest in during 2015, and two Utah cities made the list.

Forbes collected the data with Local Market Monitor, a North Carolina-based company that tracks home prices and economic factors in more than 300 housing markets. Strong job growth and population increase were major factors in determining the best cities to buy a house. These areas gave a larger stock of potential tenants for would-be landlords, according to Forbes.

Provo was ranked No. 2 in the list of the top 20 housing markets to invest in during 2015, and Salt Lake City came in at No. 12. The current average home price for Provo is $211,273. The city’s population growth from 2010-2013 was 6.2 percent and the annual job growth is 3 percent, Forbes said.

Salt Lake City’s average home price is currently $250,394, and the city had a 4.4 percent population growth from 2010-2013, Forbes said. The annual job growth for Salt Lake City is 2.9 percent.

Austin, Texas, was listed as the top city to invest in the housing market during 2015. Austin has a 3.7 percent annual job growth, beating the 2 percent national average, and has an average home price of $261,923, Forbes said.

So whether you are investing in some rental properties or wanting to purchase your first home, these 20 cities are a good choice for 2015, according to Forbes. Click here for the full list.

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Faith Heaton Jolley

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