Do you know house flippers are earning an average gross profit of $60,000 in the Q1 2019? For serious real-estate investors, it is important to find the best markets to list flipped properties. The personal-finance website WalletHub has released a report on 2019’s Best Places to Flip Houses , which compares more than 170 U.S. cities across 29 key metrics. The data set ranges from median purchase price to average full home remodeling costs to housing-market health index. Here are the top 10 best cities to flip houses and the worst cities:
Best Cities to Flip Houses |
|
Worst Cities to Flip Houses |
1 |
Sioux Falls, SD |
|
163 |
Los Angeles, CA |
2 |
Missoula, MT |
|
164 |
New York, NY |
3 |
Rapid City, SD |
|
165 |
New Haven, CT |
4 |
Billings, MT |
|
166 |
Boston, MA |
5 |
Peoria, AZ |
|
167 |
Wilmington, DE |
6 |
Tampa, FL |
|
168 |
San Francisco, CA |
7 |
Fort Smith, AR |
|
169 |
Oakland, CA |
8 |
Greensboro, NC |
|
170 |
Newark, NJ |
9 |
Las Cruces, NM |
|
171 |
Yonkers, NY |
10 |
Boise, ID |
|
172 |
Bridgeport, CT |
Best vs. Worst Cities to Flip Houses
- Pittsburgh has the highest average gross return on investment, 144.16 percent, which is 8.5 times higher than in Austin, Texas, the city with the lowest at 16.96 percent.
- Montgomery, Alabama has the lowest median purchase price, $50,000, which is 17.3 times lower than in San Jose, California, the city with the highest at $867,000.
- Memphis, Tennessee, has the highest share of home flips, 11.66 percent, which is 6.9 times higher than in Albuquerque, New Mexico, the city with the lowest at 1.70 percent.
- Charleston, South Carolina, has the most real-estate agents (per 100,000 residents), 282, which is 31.3 times more than in Modesto, California, the city with the fewest at 9.
- Little Rock, Arkansas, has the lowest average full home remodeling costs, $75,888, which is five times lower than in Atlanta, the city with the highest at $375,734.
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