When everything in the world gets more expensive, cutting back expenses becomes less and less feasible for Americans. According to a new study, workers across the country are instead turning their minds to increasing their income.
How they are looking to do it: by investing in real estate. And residents of Wisconsin are among the most eager to explore this opportunity.
A new research study done by Malibu real estate reviews Google search data from all 50 U.S. states to determine which areas of the country are searching for property-investment-related answers.
This study, adjusted for population reports from the latest census, shows that some areas of the country are far more interested in investing in homes than others.
States Most Interested in Property Investment
Ranked by search volume per 100,000 people, Wisconsin stands above the pack with an average of 459.4 monthly searches.
This news may not be surprising, as Forward Analytics, a Wisconsin-based research organization, reports that within this decade, “Wisconsin will need to build nearly 140,000 housing units to accommodate its population under the age of 65.”
The Peach State, Georgia, ranks second, with a monthly search volume of 428. Disaggregated data shows that Georgians may be searching with intent to learn over intent to purchase, as this state ranks highest in the country for the search term “how to invest in real estate.”
Without further data, it isn’t easy to discern how this term might translate into investment actions in the near future, but one can assume an increase in investing is imminent.
In third place is the state of Ohio, contributing an average of 424.2 monthly Google searches. In this state, “foreclosed homes for sale” is the search term of choice, with nearly 60% of the average monthly searches dedicated to this term.
Analysts suggest this may indicate an increased interest in flipping homes. This practice involves investing in the short term with the intent to renovate and resell the properties for a profit.
Illinois ranks fourth among the pack, with 417.6 monthly searches of real estate investment-related terms and queries. Fifth is Michigan, with a search volume of 417.5, also reflecting a greater interest in the search term “foreclosed homes for sale” than other states.
In rankings six through ten, you’ll find Indiana, Minnesota, North Carolina, Pennsylvania, and California, respectively.
California represents a notable standalone west coast state, while all nine other states are in more central and eastern areas of the country.
Indiana and Minnesota are the last two states who break 400 searches, with 413.9 and 403.3, respectively. In eighth is North Carolina with 389.8. And Pennsylvania (378) and California (376.4) round out the list.
A spokesperson from Malibu real estate shares their thoughts on the findings, “The diversity of property investment interest across different U.S. states is remarkable. Our analysis shows that Wisconsin leads in overall search volume per 100,000 residents, highlighting a robust curiosity and active engagement among its citizens in property investment. This interesting analysis provides valuable insights into the American public’s evolving perspective on real estate investment and perhaps their place within it.”
States Where Property Investment Searches Are Least Popular
Conversely, the following states have the lowest search volume of real estate investment terms in the country: Nevada, West Virginia, South Dakota, Vermont, North Dakota, Idaho, Hawaii, Alaska, Montana, and Wyoming.
The state of Wyoming claims the lowest spot on the list, with a score of 189.2 average monthly searches – more than two times lower than the frontrunning state of Wisconsin, which has 459.4 monthly searches.
Montana, with 189.8; Alaska, with 194.6; Hawaii, with 209.6; and Idaho, with 240.6, make up the final four in the five states with the fewest real estate investment-related searches, with Wyoming.
In rankings six through 10 are North Dakota, in sixth with 251 searches; Vermont in seventh with 260.3; South Dakota in a very close eighth at 260.4; West Virginia coming in ninth at 265.6; and Nevada rounding out the list with 267.5 monthly searches on average.
The spokesperson for Malibu weighs in on these findings, “Despite significant variations in population size, property investment remains a consistently popular topic across the country, as reflected in the steady search volumes for real estate-related terms.”
Starting Your Property Investment Journey
No matter where you live in the country, if you’re interested in beginning your journey in property investing, starting by connecting with a seasoned investor can boost your confidence and understanding of the market to ensure you’re making an informed decision.
Being aware of local market conditions, understanding local tenancy laws, forecasting maintenance costs, and any proposed updates will set you up for success.
Property investment can be a lucrative form of income generation, but it’s only the case for some. Do your research and speak with professionals in the field before leaping into real estate investment.
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