New Orleans Ranked Fifth in the Country to Buy Investment Property

According to a recent report, as of 2020, New Orleans was the fifth best city in the country to buy investment property. Large cities offer a multitude of benefits for current and prospective investment property owners. Not only do they afford more diverse housing options, but they provide abundant opportunities to find tenants. Regardless, understanding where and when to invest is critical. The study, generated by IPX1031, assessed the following five metrics: median home value, home value to gross rent ratio, annual property tax, 10-year population growth, and annual return for various cities with populations of 300,000 residents or more. New Orleans possessed a median home value of $228,780; home value to gross rent ratio of 142; annual property tax of $1,828; 10-year population growth of 11%; and annual return of $6,896. On a list of 30 cities, the Big Easy trailed only Cincinnati, Colorado Springs, Tampa and Atlanta on these measures. Consequently, it serves as the prime spot for those wishing to stay close to both the action and the party!