3 of the Best Locations Outside of Boston to Invest In

It probably doesn’t surprise anyone that the Real Estate market in Massachusetts is one of the top performing markets in the country. It consistently shows year over year growth, even when other areas of the country seem to be struggling. It goes without saying that the primary market in Massachusetts is Boston, and is a key component to why Massachusetts performs so well on a year to year basis. It makes a lot of sense. Boston is a nationwide leader in healthcare, higher education, biotech, and the rental market is one of the strongest in the country, making Boston a prime location for Investment. However, If you take Boston out of it, the Massachusetts market still performs very well and there are many other areas and cities to look in to if you want to invest your money safely. Take a look below at 3 of the hottest investment locations in Massachusetts outside of Boston.

  1.        Cambridge – If you are looking for a single unit, multi-family or multi-unit apartment building to rent out to potential tenants, Cambridge is definitely a hot spot for you. The population of Cambridge sits around 114,000 and counting. The city has an extremely low unemployment rate at 2.50% in January 2023. Couple that with a growing job market, tons of grad students studying at universities and young professionals moving for their new jobs and you have a rental gold mine! Not to mention the re-sale value in Cambridge being as strong as ever. It seems to be a perfectly safe long-term investment.

  1.        Newton – Despite what you may think, Newton is among the fastest growing markets in MA. The already large population is growing quickly which means there is a need for housing. Now, you may pay a premium to be in this amazing location. The median home sells for around $1.3 million. It’s proximity to Boston and local Colleges and Hospitals make this city a prime destination for healthcare workers as well college students and faculty.

  1.        Lynn – Lynn is one of the fastest growing cities in the U.S. However, property values remain lower than cities surrounding Boston and they are certainly on the rise. If you are a young investor and are looking to build a rental property or buy an existing multi-unit building, this may be the city for you. As of March 2023, the average rent price for a 1-bedroom apartment in Lynn is $1,900/month. Up a massive 12% from last year!

If you are looking to safely invest your money in Real Estate, whether you are a just starting out or looking for another project, lets connect! 

Posted by Myles Couyoumjian on
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