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WalletHub Study: 2021’s Best Places to Flip Houses

With house flippers earning an average gross profit of $63,500 in Q1 2021, the personal-finance website WalletHub released its report on 2021’s Best Places to Flip Houses, as well as accompanying videos and expert commentary.

To help serious real-estate investors find the best markets to list their flipped properties, WalletHub compared more than 170 U.S. cities across 26 key metrics. The data set ranges from median purchase price to average full home remodeling costs to real-estate agents per capita.

Best Cities to Flip Houses Worst Cities to Flip Houses
1. Sioux Falls, SD 163. Oxnard, CA
2. Missoula, MT 164. Wilmington, DE
3. Peoria, AZ 165. Jersey City, NJ
4. Nampa, ID 166. New York, NY
5. Tampa, FL 167. Los Angeles, CA
6. Mobile, AL 168. Bridgeport, CT
7. Boise, ID 169. San Francisco, CA
8. Rapid City, SD 170. Yonkers, NY
9. Gilbert, AZ 171. Oakland, CA
10. Knoxville, TN 172. Newark, NJ

Best vs. Worst

  • Pittsburgh has the highest average gross return on investment, 128.12 percent, which is 9.4 times higher than in Raleigh, North Carolina, the city with the lowest at 13.64 percent.
  • Montgomery, Alabama, has the lowest median purchase price, $60,000, which is 15.3 times lower than in San Jose, California, the city with the highest at $920,000.
  • Memphis, Tennessee, has the highest share of home flips, 11.95 percent, which is 6.1 times higher than in Portland, Maine, the city with the lowest at 1.95 percent.
  • Charleston, South Carolina, has the most real-estate agents (per 100,000 residents), 247, which is 41.2 times more than in Worcester, Massachusetts, the city with the fewest at 6.
  • Little Rock, Arkansas, has the lowest average full home remodeling costs, $75,888, which is five times lower than in Atlanta, the city with the highest at $375,734.

To view the full report and your city’s rank, please visit:
https://wallethub.com/edu/best-cities-to-flip-houses/23158

This article was released by WalletHub.