Industry News

The Best City for Flipping Houses Is …

Phil Hall
Jul 31, 2019
Photo credit: Getty Images/aleks0649

A new study from WalletHub has named Sioux Falls, S.D., as the best U.S. city for aspiring house flippers.
 
WalletHub focused on 172 cities and culled its data from 29 indicators covering housing market potential, costs and the local quality of life. Joining Sioux Falls in the top 10 list was Missoula, Mont.; Rapid City, S.D.; Billings, Mont.; Peoria, Ariz.; Tampa; Fort Smith, Ark.; Greensboro, N.C.; Las Cruces, N.M.; and Boise, Idaho. Bridgeport, Conn., ranked last among the cities, and the bottom 10 localities on the WalletHub list were either in the Northeast or California.
 
Among specific considerations, WalletHub said Pittsburgh has the highest average gross return on investment (144.16) while Austin has the lowest (16.96 percent). Montgomery, Ala., has the lowest median purchase price at $50,000 while San Jose, Calif. has the highest at $867,000.
 
Memphis has the highest share of home flips at 11.66 percent while Albuquerque, N.M., has the lowest at 1.70 percent. And Little Rock, Ark., has the lowest average full home remodeling costs at $75,888, which is five times lower than in Atlanta, the city with the highest at $375,734.
Source: WalletHub
 
Link copied
Published
Jul 31, 2019
Get the NMP Daily
Courts
Triumph In Texas: Combatting 'Pay-to-Pay' Fees

Bailey Glasser secures class action victory against fees for paying mortgages by phone.

Bailey & Glasser LLP, representing a group of consumers who were unfairly charged fees solely for making phone payments on their mortgages, achieved a substantial summary judgment triumph in a class action case in a federal district court in Houston, Texas. The legal ac...

Continue reading
Industry News
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Fannie Mae has unveiled HomeView en Español, a digital platform tailored to provide Spanish-speaking consumers with accessible information on financial literacy and homeownership. The platform, available 24/7, allows users to either independently navigate the content or seek...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Industry News
Sep 29, 2023
Layoffs At Better.com

After a rocky market debut, Better.com has laid off staff.

Industry News
Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Industry News
Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Industry News
Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Industry News
Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Industry News
Sep 11, 2023