Real estate investing in Pennsylvania is booming. Invest your time and money to flip single-family houses in the right parts of the state and you can generate impressive returns on investment. Pennsylvania’s population is over 12.8 million and it’s growing, making it is the 6th most populous state and the 9th most densely populated. With its optimistic outlook, active urban development, higher population density, economic and jobs growth, increased rental demand, and quality healthcare, real estate investors in Pennsylvania enjoy good returns on their investments. So what are the best areas to flip houses in Pennsylvania?
Philadelphia
House flippers love Philadelphia. Distressed houses can be found at every price point somewhere in the city. Philadelphia is known for its high number of unique neighborhoods. You’ll find areas were house flipping is hot, others where it’s just beginning to take off and some where the opportunities have just about dried up. Find yourself a great deal, secure a hard money loan, rehab it efficiently and you’ll be able resell for a good profit.
Around Philadelphia
Philly’s house flipping opportunities spill out into the suburbs. Delco has affordable deals. Montgomery County is a great place to live, but historic designation of homes and local inspection requirements in places like Norristown have made house flipping more challenging. Over all, the suburbs may not be as easy as Philly, but house flippers are making it work in Delco, Montgomery County, Chester County and Bucks County. These are some of the best areas to flip houses in Pennsylvania.
Pittsburgh
When buy-and-hold real estate investors declare Pittsburgh as the best cash flow market in the country, you know there are great opportunities for flipping houses here. House prices are rising, but still not extremely high so Pittsburgh is a cost effective alternative, offering flippers great returns on investment. The city has been called the second “Silicon Valley” because of the tech boom led by Amazon, Apple, and Uber coming to the city. Revitalization is going on and housing redevelopment is happening in many Pittsburgh neighborhoods.
Allentown and the Lehigh Valley
State investment in downtown Allentown has spurred economic growth and housing redevelopment. Easy access to I-78 has made Allentown, Bethlehem and Easton bedroom communities for commuters into New York City. Currently, the Lehigh Valley is the fastest growing area in Pennsylvania, offering a good business climate and much lower cost of living compared to surrounding areas. Demand for rental units is very high. Flip houses for investors wanting to buy and hold and you’ll do well.
Summary
Not all investors agree on the best areas to flip houses in Pennsylvania, but most would agree that Philadelphia, the surrounding counties, Pittsburgh and the Lehigh Valley are great. But there’s also Harrisburg, Scranton, Wilkes-Barre, Lancaster, York, Hanover, and Reading. It’s hard to narrow down a list of the best areas to flip houses in Pennsylvania. Real estate investors are making high returns on investments they’re making all over the state.