Top 10 Cities in North America With a Booming Real Estate Market

Helping You Choose the Right Real Estate Market in North America

This curated list of top real estate cities and markets will help you find the best investment opportunities across North America, each offering unique benefits for today’s investors. Some North American cities are growing quickly because of new businesses and more people moving in, which makes property values go up fast—perfect for building wealth over time. 

Other cities offer affordable housing and steady rental demand, making them good choices if you want regular rental income and stable investments. There are also cities near borders or coastlines with great options for short-term rentals and international buyers, thanks to tourism and appeal across countries. 

This guide explores ten cities across these categories, each presenting promising paths for real estate investors.

High-Growth Cities with Strong Appreciation Potential

These cities have experienced significant appreciation in property values due to booming industries, population growth, and strong demand. For investors looking to build wealth through property appreciation, these are promising markets.

1. Austin, Texas

Tech Expansion & Housing Boom: Austin’s position as a tech hub (with giants like Apple, Google, and Tesla expanding locally) has spurred exponential real estate growth. The median home price in Austin is around $516,000 (January 2025), up about 3.3% year-over-year​. This growth is more moderate than the double-digit surges of a few years ago, but still outpaces many markets. Austin’s population has been soaring – it was the #1 metro for growth and net migration since 2020​ – as young professionals and tech workers flood in for jobs.

Sustained Demand: The influx of talent and companies keeps housing demand high, even as rising interest rates have cooled the frenzy slightly. Homes still receive multiple offers (on average 2 offers, selling in ~96 days). While rent prices have leveled off after previous spikes (giving renters slight relief), overall housing occupancy remains strong. Austin continues to attract newcomers from expensive regions (California, Northeast) thanks to Texas’s no state income tax and relatively lower home prices, ensuring it remains one of 2025’s fastest-growing real estate markets for investors and homebuyers alike.

Population Growth: Austin’s population grew by over 30% in the last decade, making it one of the fastest-growing cities in the U.S.

Overall, Austin’s property values have risen tremendously, making it a top choice for appreciation-focused investors.

2. Denver, Colorado

Robust Growth & Lifestyle Appeal: Denver’s attractive outdoor lifestyle and strong job market continue to fuel its real estate boom, especially among young professionals. The median home price in Denver is about $557,000 (early 2025), up 1.3% year-over-year​ – a modest increase that signals a stable appreciation trend. Population growth has been steady as well, with many new residents drawn by Colorado’s economy (tech, aerospace, energy) and quality of life.

Migration & Job Influx: Denver consistently sees net inbound migration from higher-cost cities. For example, many buyers relocating from Los Angeles and San Francisco target Denver​ for its comparatively affordable housing and mountain lifestyle. On average, homes sell in just 57 days​ indicating solid demand. With low unemployment and incomes rising, Denver offers a balanced market: not overheated, but reliably growing. Investors aiming for long-term property appreciation can consider Denver a top performer in 2025.

Affordable Markets with Reliable Rental Demand

For investors looking for more accessible entry points with consistent rental income, these cities provide affordable real estate options and strong rental demand. Many are mid-sized cities or college towns with stable job markets, making them some of the best cities to buy property for reliable returns.

3. Columbus, Ohio

Affordable Entry & Steady Growth: Columbus remains one of the Midwest’s most affordable large markets. The median home listing price is around $269,000 (Jan 2025), roughly flat year-over-year​ – a testament to its stability even as other markets fluctuated. This low price point (nearly 40% below the U.S. median​) allows investors to acquire properties at reasonable cost. Meanwhile, Columbus’s population has been growing (the metro reached about 1.73 million in 2024​), which supports housing demand.

Booming Rental Demand: Home to the massive Ohio State University and a growing tech and healthcare job sector, Columbus has a large base of renters. In fact, Columbus recently ranked among the top U.S. cities for rent increases – with an 11.1% jump in rents between 2024 and 2025​. High rental demand from students and young professionals keeps occupancy rates very high and rental yields attractive​. Investors can count on a steady pool of tenants, making Columbus a real estate investment hotspot 2025 for those seeking strong cash flow.

4. Richmond, Virginia

Strong Appreciation & In-Migration: Richmond combines affordability with a strong job market, attracting people from higher-cost East Coast cities. The median home price in Richmond is about $367,000, up 12% year-over-year as of Jan 2025 – one of the highest appreciation rates nationwide. This surge is fueled by an influx of residents from Washington D.C. and New York seeking lower housing costs and by Richmond’s own economic growth. In fact, the Richmond metro grew 3.1% in population from 2020 to 2023, leading all of Virginia​. More than 40,000 people relocated to Richmond in those three years, a massive endorsement of its appeal.

Stable Economy & Rental Market: Richmond’s diverse economy (finance, state government, healthcare and education) provides a stable foundation for housing demand. Unemployment remains low and wages are rising, giving locals buying power. For investors, Richmond’s rental market is reliable – young professionals and families priced out of D.C. often rent in trendy Richmond neighborhoods. With homes still priced below D.C. or Boston levels, investors can find value here. Rental vacancy rates hover around 5% (indicative of a landlord-friendly market), and new developments are popping up to meet demand. All signs point to Richmond continuing its steady climb in 2025.

5. Kansas City, Missouri

Affordable Market with Upside: Kansas City offers one of the lowest cost barriers to entry among growing markets. In early 2024, the median home sale price here hit $285,000, which was a 14% increase from the previous year’s level​ – a sharp appreciation reflecting how sought-after KC real estate became. By late 2024 the median settled around $255,000 (nearly flat year-over-year)​, indicating the market normalized but remained strong. Even at $255K, KC’s home prices are very affordable compared to the U.S. average, making it attractive to first-time buyers and investors alike.

Jobs and Rental Stability: A low cost of living and growing job opportunities have spurred a consistent influx of new residents to Kansas City. The metro’s job market in healthcare, manufacturing, and tech has been expanding, supporting housing demand. Rising home values in recent years have also pushed more people to rent, which increased demand for rental properties (especially multi-family units)​. Occupancy rates in KC’s rental market remain high, and rents have been inching up as a result. Investors seeking stable, low-cost properties with solid returns find Kansas City very appealing.

Border and Coastal Markets with Cross-Border Appeal

Cities near borders or with strong tourism sectors offer unique opportunities, especially for investors interested in cross-border real estate potential or short-term rental markets.

6. Sault Ste. Marie, Ontario

Surging Home Prices (Still Affordable): Located on the Canadian-U.S. border, Sault Ste. Marie has unique appeal for both Canadian and American investors, with housing prices far lower than in major Canadian cities. In early 2025, the average home price in the Sault was about CAD $337,500, up a remarkable 14.4% from a year earlier​. (The benchmark home price is around $303K, +11.9% YOY​). This double-digit appreciation in the past year outpaced bigger markets like Toronto, yet the Sault’s prices remain a fraction of those in Toronto or Vancouver. For investors, it’s a chance to ride significant growth while the market is still very affordable.

Cross-Border Appeal: Sault Ste. Marie’s binational location (it borders Michigan across the St. Marys River) adds versatility to its real estate market. U.S. buyers eyeing Canadian properties, and vice versa, find the Sault an accessible entry point. The city actively promotes cross-border investment and collaboration​. With Americans able to drive just across the bridge, there’s demand for vacation homes, hunting/fishing cabins, and even cross-border commuters. This dynamic helps keep demand resilient, even if one side of the border’s economy slows temporarily.

Population & Development Boom: After decades of little change, Sault Ste. Marie is experiencing significant population growth for the first time, according to the city’s mayor​. This is partly due to local economic development initiatives and new infrastructure projects. The Canadian government and local authorities are investing in modernizing the Sault’s infrastructure and adding housing (e.g. 108 new affordable homes under construction​) to accommodate the influx of people. More people choosing to settle in the Sault means increased housing demand for the long term, supporting both home values and rental markets moving forward.

7. New Providence, Bahamas

Tourism & Short-Term Rental Goldmine: New Providence Island – home to Nassau, the capital – offers strong investment potential due to its high tourism appeal. Famous for its beaches and resorts, New Providence attracts international tourists and expatriates, which drives demand for vacation rentals and second homes. The rebound of global travel in 2024 has been a boon: Nassau’s hotels and Airbnbs saw surging occupancy, and investors in short-term rental properties are enjoying high returns. The island’s status as a tropical paradise and financial center means there’s a constant flow of affluent buyers (from the U.S., Canada, Europe, and beyond) looking for vacation condos, resort residences, or retirement villas.

Rising Sales & Prices: The Bahamian real estate market is in a post-pandemic boom. In 2023, The Bahamas notched a 15% year-over-year rise in prime residential prices​ – one of the fastest growth rates among global “sun belt” destinations. New Providence in particular saw a surge in home sales in late 2024: transactions jumped 72% from Q3 to Q4 as overseas buyers returned and locals seized opportunities​. While the average property value on New Providence adjusted to around $495,000 (down from a peak of $575K)​ – making homes a bit more accessible – values are expected to climb again with sustained demand. From high-end beachfront estates in areas like Cable Beach and Lyford Cay to more modest family homes, property values are broadly trending upward due to limited supply and intense interest from foreign buyers.

Investor-Friendly Policies: The Bahamas has an extremely favorable investment climate. The country imposes no income, capital gains, or inheritance taxes​, which attracts high-net-worth individuals seeking tax-friendly real estate investments. Foreigners can buy Bahamian property with relative ease, and an investment of $750K (now $1M as of 2025) can even qualify an investor for economic permanent residency​. These government policies, along with political stability, have cemented the Bahamas – and New Providence especially – as a top real estate investment hotspot for 2025. Whether it’s luxury condos aimed at international buyers or affordable new developments for locals, New Providence’s market is booming on the back of strong demand and supportive regulations. (It also doesn’t hurt that the island’s warm weather, relaxed lifestyle, and modern amenities make it hugely appealing to retirees and remote workers, further expanding the buyer pool.)

Markets with Steady Appreciation and Regional Appeal

These cities are experiencing steady growth due to economic development and regional appeal, making them suitable for investors seeking stable markets with reliable appreciation potential.

8. Houston, Texas

Massive Growth & Diverse Economy: Houston’s affordability and booming economy make it a strong bet for long-term growth. The greater Houston metro area’s population is approaching 7 million (it reached about 6.9M by 2023​) and continues to expand steadily. Texas led the nation in net migration in 2023 – gaining ~138,000 more residents than it lost – and many of those newcomers settled in Houston​. In particular, a huge influx has come from high-cost states like California; with Texas homes ~60% cheaper than California’s, nearly half of relocating Californians buy a home within a year of moving​. This tide of new Houstonians keeps demand for housing robust.

Housing Market Update: As of late 2024, Houston’s median home price is roughly $330,000 (around the low-$300s), marking a modest 3–4% annual increase​. Home prices here are about 20–30% lower than the U.S. median, which underscores Houston’s value proposition. The market saw a slight dip in listings and a cooling in price acceleration in 2023, but overall has remained on an upward trajectory. Houston’s inventory is tighter than pre-pandemic norms, and homes still sell quickly in desirable neighborhoods. For investors, the relatively low prices mean better cash flow potential or an easier entry point for appreciation plays.

High Rental Demand & Pro-Business Climate: Houston boasts a young population and is home to dozens of colleges (including Rice University and the University of Houston) and the nation’s largest medical complex (Texas Medical Center). These factors drive strong rental demand in areas like Midtown, Downtown, and the Medical Center district – occupancy rates hover in the mid-90% range. The city’s pro-business environment (no state income tax, friendly zoning and permitting) continues to draw companies and startups, translating to job growth in energy, healthcare, aerospace, and tech. With a vibrant cultural scene (world-class restaurants, museums, sports) and ongoing infrastructure investments, Houston is poised to keep attracting new residents. All this supports a healthy real estate market. Investors can expect steady appreciation and reliable rentals here, rather than extreme volatility – making Houston a cornerstone of any long-term property portfolio.

9. Manchester, New Hampshire

Suburban Haven with Rising Prices: Manchester is the perfect suburb-city hybrid, attracting people from higher-cost regions (like Boston) who seek more affordable living and an easy commute. Housing here remains cheaper than in Massachusetts – the median listing price in Manchester is about $400,000, up 6.7% year-over-year as of early 2025​. Home values have seen steady appreciation over the past several years as demand consistently outstrips the limited supply in this area of southern New Hampshire. Many Boston-area workers have realized they can get significantly more house for their money by living in NH and commuting or working remotely part-time.

Inbound Migration & Tax Advantages: New Hampshire as a whole is drawing new residents at one of the highest rates in the nation. (The state jumped to #3 in inbound migration in 2023​.) Manchester benefits greatly from this trend – it’s often the first stop for people moving up from Boston, New York, or other expensive metro areas in search of lower taxes and home prices. NH famously has no state income tax or sales tax, which is a big financial incentive for both retirees and remote workers to settle here. This continual influx of residents keeps the real estate market competitive. Homes in desirable Manchester neighborhoods can receive multiple offers, and inventory tends to move fast, especially in the spring selling season.

Stable Economy & Quality of Life: Manchester’s economy, while smaller in scale, is quite diverse – with employment in healthcare, education, manufacturing, and a growing tech startup scene (the city’s “Silicon Millyard” incubator has been expanding). Job growth has been positive, supporting local incomes and housing demand. The city also offers a high quality of life: good schools, low crime, and easy access to New England’s outdoor recreation. For investors, Manchester presents an opportunity for reliable growth. Renters are plentiful (the area’s rental vacancy hovers around 3–4%), including young professionals who may commute to Boston. While you won’t see sky-high appreciation overnight, Manchester’s real estate is on a solid upward path, making it one of the best places to invest in 2025 for stability and moderate growth.

10. Cincinnati, Ohio

Affordable with Momentum: Cincinnati offers extremely affordable real estate with surprisingly strong growth signals, making it appealing to investors looking for low entry costs and reliable returns. The median home sold price in Cincinnati is around $226,000, which is up about 5% year-over-year​. That price is well below the national average, highlighting the value to be found. Despite the low prices, the Cincinnati metro’s population of ~2.27 million (2023)​ has been inching upward after years of stagnation. The city’s urban revitalization (e.g. the trendy Over-the-Rhine district) and an influx of out-of-state migrants have reinvigorated the housing market. In fact, Greater Cincinnati now enjoys net positive migration from major metros like New York, Chicago, and Seattle​ – a dramatic change from a decade ago, when most newcomers were from smaller nearby towns. This new migration pattern is bringing in fresh homebuyers and renters, driving up property demand.

Strong Rental Yields: Cincinnati’s diverse economy (home to Fortune 500 companies in finance and consumer goods, large hospital systems, and several universities) supports a large rental population. Approximately 61% of city housing units are renter-occupied​, and rental vacancies are only about ~5%​ – among the lowest in the nation. This means landlords enjoy high occupancy and can expect consistent rent payments. Rents in Cincinnati have been growing ~3% annually in recent years​, outpacing national averages. Neighborhoods near the University of Cincinnati, Xavier University, and downtown attract students and young professionals who are willing to pay premium rents for updated apartments. For investors, Cincinnati presents an opportunity for high cap rates due to low purchase prices and solid rents. As long as the local economy continues its gradual expansion and the downtown revitalization attracts people back to the city core, Cincinnati’s real estate market should deliver dependable growth and income.

Choosing the Right Market for Your Goals

Whether you aim for high appreciation, steady rental income, or affordability, these cities present promising opportunities based on distinct characteristics. For those interested in fast growth and property appreciation, Austin and Denver stand out as top performers. Alternatively, investors looking for affordable entry points with reliable rental demand may find great options in Columbus, Richmond, and Kansas City. Finally, cross-border appeal in Sault Ste. Marie and vacation potential in New Providence offer unique international investment opportunities.