The Vibrant Prairie City
Discover Omaha's Real Estate
Being one of the most ancient cities in the United States, Omaha is a sight to behold. With the stable economy, affordable housing prices, and low cost of living, it has become a wonderland for discerning investors.
Culture, History, and Business
Omaha is the best-ranked upcoming-tech hotspot in America. Also, Time magazine ranked the region the 3rd most up-and-Coming city of the USA. Greater Omaha is home to 30+ communities and nearly 1 million people. More than 40 % of its residents are at 24 years of age or younger. A steady economic growth and a relatively low cost of living in the city has outpaced the nation. Companies like Mutual of Omaha, Peter Kiewit Sons’ Inc., Berkshire Hathaway, and Union Pacific are headquartered in Greater Omaha.
The region’s economy remained stable in 2018 and continues to be in 2019 as well. The strength in Omaha’s labor market has provided excellent support to other areas of its economy, including real estate as well as consumer spending. Agriculture and trade had also driven economic growth in 2019. Unemployment in the region is low, with the unemployment rate not exceeding 3 % since January 2017.
Real Estate Appeal
The Omaha real estate market is a highly competitive one. However, Omaha has fewer homes available in its market than last year (2018). Also, home prices continue to appreciate due to increasing demand, which is excellent news for investors. It must be noted that Investing in Omaha’s real estate somewhat coincides with the overall national scenario due to the amount of inventory available as the exact shortage of inventory prevails in other parts of the country. This shortage has driven up property prices. However, higher rates in Omaha does not mean that Omaha property investors should look elsewhere. Instead, they must utilize a different strategy.
Omaha property investors are likely to value the benefits of the present market over buying and holding properties. As already highlighted, prices are mostly high, so getting cheap deals in the region may be harder. However, utilizing a buy and hold technique may offset the high expenses. But this does not mean that purchasing a rental property will be more affordable. Instead, it will offer a better avenue to make a profit. More specifically, since rents are high in this region, it will allow smart investors to earn a nice ROI in the interim. That said, it is possible to take care of high acquisition costs with a few months or years of earned income.
Undoubtedly, Omaha has a lot to offer any investor. Read our succeeding articles to find out why you should invest in Omaha as well as the hottest neighborhoods.
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