In 2016, home flipping hit its highest point since 2007, and a new study shows the best markets for home flipping.
More than 126,000 house-flipping investors in 2016, an increase to the highest rate since 2007, according to the latest study from WalletHub, a personal finance website. These investors turn an average gross profit of nearly $63,000, the highest since 2000.
But while home flipping is hitting the highest levels since 2007, the homeownership rate rests near a half century low of 62.9%.
To help serious real-estate investors find the best markets to list their flipped properties, WalletHub’s data team compared the 150 largest U.S. cities across 22 key metrics. The data set ranges from median purchase price to average full home remodeling costs to housing-market health index.
Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for house flipping.
Here are the top 10 best metros for home flipping:
10. Springfield, Missouri – 64.61
Market potential rank: 115
Renovation and remodeling costs rank: 5
Quality of life rank: 100
9. Greensboro, North Carolina – 64.82
Market potential rank: 48
Renovation and remodeling costs rank: 11
Quality of life rank: 49
8. Boise, Idaho – 64.97
Market potential rank: 129
Renovation and remodeling costs rank: 8
Quality of life rank: 13
7. Grand Rapids, Michigan – 65
Market potential rank: 25
Renovation and remodeling costs rank: 29
Quality of life rank: 38
6. Tampa, Florida – 66.51
Market potential rank: 8
Renovation and remodeling costs rank: 19
Quality of life rank: 66
5. Oklahoma City, Oklahoma – 66.56
Market potential rank: 30
Renovation and remodeling costs rank: 15
Quality of life rank: 37
4. Peoria, Arizona – 66.6
Market potential rank: 97
Renovation and remodeling costs rank: 6
Quality of life rank: 6
3. Fort Wayne, Indiana – 67.38
Market potential rank: 106
Renovation and remodeling costs rank: 16
Quality of life rank: 46
2. Sioux Falls, South Dakota – 69.52
Market potential rank: 122
Renovation and remodeling costs rank: 7
Quality of life rank: 29
1. El Paso, Texas – 69.6
Market potential rank: 95
Renovation and remodeling costs rank: 9
Quality of life rank: 48
