WASHINGTON, D.C. (WalletHub) – With house flippers earning an average gross profit of $60,000 in Q1 2019, the personal-finance website WalletHub today released its report on 2019’s Best Places to Flip Houses as well as accompanying videos.
To help serious real-estate investors find the best markets to list their flipped properties, WalletHub compared more than 170 U.S. cities across 29 key metrics. The data set ranges from median purchase price to average full home remodeling costs to housing-market health index.
|Best Cities to Flip Houses||Worst Cities to Flip Houses|
|1||Sioux Falls, SD||163||Los Angeles, CA|
|2||Missoula, MT||164||New York, NY|
|3||Rapid City, SD||165||New Haven, CT|
|4||Billings, MT||166||Boston, MA|
|5||Peoria, AZ||167||Wilmington, DE|
|6||Tampa, FL||168||San Francisco, CA|
|7||Fort Smith, AR||169||Oakland, CA|
|8||Greensboro, NC||170||Newark, NJ|
|9||Las Cruces, NM||171||Yonkers, NY|
|10||Boise, ID||172||Bridgeport, CT|
Best vs. Worst
- Pittsburgh has the highest average gross return on investment, 144.16 percent, which is 8.5 times higher than in Austin, Texas, the city with the lowest at 16.96 percent.
- Montgomery, Alabama has the lowest median purchase price, $50,000, which is 17.3 times lower than in San Jose, California, the city with the highest at $867,000.
- Memphis, Tennessee, has the highest share of home flips, 11.66 percent, which is 6.9 times higher than in Albuquerque, New Mexico, the city with the lowest at 1.70 percent.
- Charleston, South Carolina, has the most real-estate agents (per 100,000 residents), 282, which is 31.3 times more than in Modesto, California, the city with the fewest at 9.
- Little Rock, Arkansas, has the lowest average full home remodeling costs, $75,888, which is five times lower than in Atlanta, the city with the highest at $375,734.
To view the full report and your city’s rank, please visit: