Corpus Christi a Top 10 Cash Flow Markets for 2008 NuWire Investor, an online financial news publication, recently released its rankings of the Top 10 Cash Flow Markets for 2008 - Rochester, New York
- Montgomery, Alabama
- Birmingham, Alabama
- San Antonio, Texas
- Garland, Texas
- Buffalo, New York
- Corpus Christi, Texas
- Shreveport, Louisiana
- Detroit, Michigan
- Philadelphia, Pennsylvania
Appreciation is often the most significant form of profit for real estate investors, but it is harder to determine and higher in risk. Cash flow alone, rather than any potential for future appreciation, was used in ranking this list.
Rankings were determined based on an adjusted average rent payment for the area according to the rental vacancy rate. This value was compared to the amount spent monthly on mortgage payments and upkeep, including utilities, taxes and insurance. Mortgage payments were estimated based on an average loan and the median cost of a home in the area. Statistics were gathered from U.S. Census data.
TEXAS
Several Southern cities also made the list, including three from Texas. Texas also has an affordable housing market and many opportunities for investors, particularly in San Antonio.
Markets in Texas have been doing well recently; cities in the state took up half of the list of the Top 10 Places to Invest for 2007.
Featuring a slowly but steadily growing population that was at 285,175 in 2006, Corpus Christi’s median home price is $95,100.
Upkeep costs of $467 per month and estimated mortgage payments of $480.88 per month are affordable and the median gross rent is $714 per month. |