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89 89 INVESTMENT GOVERNMENT PROPERTY PRESERVATION WHERE ARE THE BEST CITIES FOR REAL ESTATE INVESTMENT? Due to the explosion of real estate prices over the past few years, more are looking to diversify their investments by expanding into real estate. But not all real estate properties are a sound investment; those looking for the best "bang for their buck" must balance real estate prices with taxes, vacancy rates, insurance, and the list goes on. As such, Policygenius, an online insurance marketplace, has curated a list of the top places where investors should seek due to their attractive climates for investors. Using data from Zillow and the U.S. Census Bureau, Derek Silva, Personal Finance Expert, and Logan Sachon, Senior Managing Editor of Research from Policygenius analyzed the top-600 metropolitan areas using six metrics to find the most attractive cities to invest in. e categories include: Home Value, Home Value Appreciation, Effective Property Tax Rate, Rent to Home Value Ratio, Rental Vacancy Rate, and Rent to Income Ratio. e top-10 cities that Policygenius found as areas for sound investments are as follows: 1. Youngstown, Ohio: Youngstown, Ohio, has a population of more than 60,000 people, and is part of a larger metropolitan area that includes Warren and Boardman, and which contains some 540,000 people. It is within easy driving distance of both Cleveland and Pittsburgh. According to the report, low home prices combined with a high rate of appreciation and low rental vacancy rates to make Youngstown a good prospect 2. Detroit, Michigan: As Michigan's largest city, Detroit has a population of just under 640,000 inhabitants, and part of a metro area that is home to approximately 4.3 million people. Detroit is home to the "Big ree" American auto companies, as well as Quicken Loans, Ally Financial, and DTE Energy, and in 2021, Apple announced it was opening its first Developer Academy in the city. 3. Spring Hill, Florida: Located 40 miles away from Tampa in "an unincorporated area that is part of the metropolitan area that includes Tampa, St. Petersburg, and Clearwater," home values in the area sit at under $250,000, and home value appreciation stands at around 85%. 4. Pueblo, Colorado: With a population of nearly 112,000, Pueblo is the ninth-largest city in Colorado, and home to the first steel mill to be powered largely by solar energy. e home value appreciation rate is 80% for homes in the Pueblo region. 5. Birmingham, Alabama: e region contains a population of just over 207,000, within a larger metropolitan area that is home to 1.2 million people. Formerly a manufacturing center, today Birmingham is considered "one of the largest banking centers in the U.S." 6. Cleveland, Ohio: Cleveland has a population of just more than 370,000, within a larger metropolitan area of two million-plus people. A strong hub for technology, the state-funded Cleveland Innovation District, was formed in 2021 to increase funding for health research jobs. e area has an average home value of under $100,000, and a home value appreciation of nearly 100%. 7. Colorado Springs, Colorado: e city is currently undergoing a housing boom as people move from Denver and other states to the city for its clean air, mild weather, and great quality of life. Home values in Colorado Springs are nearly $428,000, but a high rate of home value appreciation and low rental vacancy rate make Colorado Springs a great option for real estate investors. 8. Lehigh Acres, Florida: Described as "a fast-growing suburb East of Fort Myers," Lehigh Acres features a low rental vacancy rate and relatively typical low home prices for the area. 9. Palm Bay, Florida: e largest city in Brevard County, Palm Bay, Florida, is home to just under 120,000 people. Part of the Space Coast, the city features a diversified economy that includes the aerospace and defense industries. 10. Phoenix, Arizona: Phoenix is fifth-largest city in the United States and one of the fastest-growing economies in the country. Phoenix's home value appreciation rate currently stands at 81%.