Despite the fact that the economy has just gone through a year of COVID-19, some regions of the country are experiencing a real estate boom. There are some ridiculously high prices for houses and people are paying them, even here in the New Bedford area. It doesn’t shock anyone to pay $ 500,000 for a two-bedroom home that would be a third of the rest of the country.
Additionally, you’ll be amazed to hear what some landlords in the larger New Bedford and Fall River markets are asking about renting a small apartment in the worst parts of town. Are you looking for a 1-room apartment? Don’t be surprised to see landlords charging not just $ 1200 a month but with restrictions like no smoking, references, maybe a background check, and on top of that you need first, last and security, which means you need a minimum of $ 3,600 before entering the door.
However, COVID-19 has created a very volatile and unstable housing market, so you won’t see these exorbitant prices everywhere.
Recently the popular WalletHub launched a to learn compared the 300 cities on the basis of 18 key indicators for the attractiveness of the housing market and economic strength. The dataset ranges from average home price appreciation and size to square footage and employment growth.
Massachusetts as a whole fared incredibly poorly, with most of the state ranked in the bottom half of the study. 8 of the top 10 best were in the South, the other two being Reno, NV and Roseville, CA, reflecting a trend for the past decade of New England people moving south, perhaps more affordable lifestyles, lower taxes and less chasing after those tedious bureaucracy Massachusetts is notorious for.
The Massachusetts cities on the list, ranked from highest to lowest, are:
231. New Bedford
260. Fall flow
The top areas on the list are:
01. Frisco, TX
02. Austin, TX
03. Gilbert, AZ
04. McKinney, TX
05. Denton, TX
06. Allen, TX
08. Reno, NV
09. Roseville, California
10. Nashville, TN