According to The Wall Street Journal, Nashville has been named one of the Top 10 Real Estate markets thanks to its booming college scene. Read below to see exactly what WSJ has to say:
Crowds watch a football game at Vanderbilt University in Nashville, Tenn. Houses in Nashville had a median list price of $189,900 in June 2011. Rental prices for a two-bedroom there average $949, and the average rent for a three-bedroom or bigger unit is $1,020. That more than covers the typical mortgage payment of $770 on a median-priced home, assuming a 20% down payment and a 30-year fixed-rate mortgage. Nashville is “a strong investors market for those looking to target the college- and graduate-student renters,” said local broker Terry McAlister, according to a Move Inc. news release. “Nashville has 16 diverse colleges and universities, and all are at freshman capacity, so where do the upperclassmen and graduate students go? They rent.”
Other cities listed include Boston, Chicago, Washington DC, Houston and Atlanta.