There’s been quite an exodus to low-density cities in 2020 mostly due to the COVID 19 pandemic. Crediting this exodus to the pandemic alone might not do justice to other factors too. Some cities are just becoming too populated and the after-effects of said overpopulation (property taxes, high cost of owning a home, rent and the time it takes in commuting) are affecting businesses. In the tech scene, there’s an ongoing exodus of sorts from silicon valley in San Francisco to Austin, Texas. Early on in December 2020, Oracle announced that it was moving its HQ from the valley to the lone star state, Also in the same December, Tech Billionaire, Elon Musk Moved his personal residence to Austin, Texas with Tesla building a $1.1 billion plant there that’s being touted to be the new Tesla HQ (Real Estate Investors in Austin must be grinning from ear to ear right now). Obviously moving to low-density cities are now a thing and trust to be your eyes and ears on the best paying low-density cities to consider.
Cities you should totally consider
Coming first on this list is the “hot cake” of the best paying low-density cities.
Austin, Texas: Austin is attracting quite a number of people for many reasons, the nice weather, the talent pool, and probably the friendly people. Austin seems to be the nirvana of low-density cities with good median earnings. Full-time workers in Austin have a median earning of over $54,000 p/a while all workers have a median earning of over $41,000 p/a. With a population density of 3,014 per square mile, Austin Texas seems like an ideal option for your real investing efforts.
Virginia Beach, VA: Living in Virginia Beach offers you benefits like a comfortable climate for most of the year, one of the lowest tax rates in the region, a health-conscious culture, and a booming economy. Regarded as “Neptune City”, Virginia Beach has a median earning of over $49,000 for full-time workers and over $39,000 for all workers per annum. The city also records a low population density of 1840 people per square mile.
Raleigh, North Carolina: Ranked #11 among the best places to live by US News, Raleigh North Carolina is a fast-growing city luring the young and educated with their local cuisine and beer that have earned national accolades. With a population density of 3198 people per square mile and a median earning of over $49,000 for full-time workers and $38,000 for all workers, Raleigh is an ideal destination for those looking to leave the hustle of large cities.
Colorado Springs, CO: Colorado Springs has one of the most majestic views and beautiful mountains in the country. Colorado has a nice blend of casual and business cultural setting that allows you easily unwind. The median earnings of full-time workers in Colorado Springs is about $48,000 while all workers have a median earning of over $33,000. Colorado springs record a population density of 2419 people per square mile.
Omaha, Nebraska: If you’re looking for a urban suburban mix, Omaha is the ideal place. With all workers earning a median salary of about $34,000 and full-time workers earning $47,000 per annum, Omaha is actually a very ideal place to relocate. They have a lot of parks, bars, and restaurants. They have a moderate population density of 3308 per square mile.
If you’re looking to concentrate your real estate investing efforts in any of these cities, Needtoskip will help you uncover viable and high yield properties.