While there probably aren’t a lot of people out there right now looking to purchase an investment property, you still might be interested to know that Boston has topped Move Inc.’s list of best college towns to invest in real estate.
Apparently, the Boston/Cambridge area is so good for investment properties because of all the college students that invade every September. Once you buy your place, just rent it out. Anyone who’s ever looked for a place to live in this area, me included, knows how competitive the rental market can be.
“In Cambridge and some of the Boston-proper neighborhoods, we’ve been seeing rents rising with demand and projections of further increases of up to 25 percent,” Boston-area RE/MAX Destiny broker/owner Paul Turcotte said.
The median list prices in the Boston/Cambridge market was $335,000 as of June and the more than 50 colleges in the area lead to the high renter demand. Average rental rates ranged from $3,122 for a two-bedroom to $3,913 for a three- or more bedroom unit.
According to Move Inc., in the next two years, real estate investors are expected to outnumber traditional homebuyers in their local markets by three to one and more than half of those plan to put their investments to work as rental properties.
What other towns made Move Inc.’s top five list? Nashville, Chicago, Washington, D.C. and Houston.





