Nationwide, U.S. home prices have risen double-digits over the past year. As residential real estate prices have hit records highs, buyers and renters alike are looking for the best bang for their buck. The pandemic has changed how and where many people work. With “work from home” a new reality for many, people are now prioritizing quality of life and affordability when it comes to relocating.

Real estate demand is rising in cities where people can still find good deals – in mid-sized cities that are affordable, yet in close proximity to bigger urban areas with strong economies and job growth.

During the worst of the COVID-19 pandemic, there was a large exodus of people from large, denser-populated cities into more rural areas, but this is becoming a national trend. People are trading Boston for Manchester and Concord, NH – both about a hour’s commute away - for example. San Francisco came in 5th as top metro area for net outbound moves, but nearby counties of Alameda, Contra Costa, Sacramento, and Solano saw influx of new renters and homeowners as people moved in search of more space.

BENA Capital’s focus on Tier II and Tier III markets with strong economies present opportunities for cash flow and continued price appreciation, now more than ever. Finding niche cities that offer the best live-work balance, focusing on these areas of growth with strong renter populations, provide our investors with the right balance between stable cash flow and appreciation potential. That has always been our approach, and it remains the cornerstone of our residential real estate acquisition strategy.