Where to Buy Your First (or Next) Property in 2025

Hybrid Market: Indianapolis, IN

Next is the Indianapolis, IN metro. I’ve mapped job growth to distinguish it from other popular Midwest markets (Indy has more job growth than even Columbus, OH):

You’ll notice in the graph that there’s a dip every year in January. Because logistics comprises a large portion of the workforce, once the holiday season is over, the metro experiences a seasonal drop in employment before rising throughout the rest of the year.

Market metrics:

• Median price: $270,000
• Median rent: $1,759
• Rent-to-price ratio: 0.65%
• Five-year job growth: 7.3%
• Median income: $58,146
• One-year price forecast: 3.6%

If you’d like to learn more about Indianapolis, here’s an Indy deep dive I wrote on the best neighborhoods to invest in. But if you’re pressed for time, just know there is strong growth occurring around the northeast area of the metro (such as Carmel and Fishers).

Hybrid Market: Kansas City, MO

While Kansas City, MO has solid job growth and median income, I wanted to highlight a different metric that has been improving over the past decade: vacancy rate.

The vacancy rate can be thought of as the relationship between the total number of units and the number of vacant units. Said differently, the higher the vacancy rate, the lower the demand for housing relative to supply. And a declining vacancy rate means the opposite: an increased demand for housing. 

This is what we see happening with Kansas City. They just aren’t building faster than household growth.

Market metrics:

• Median price: $332,000
• Median rent: $1,963
• Rent-to-price ratio: 0.59%
• Five-year job growth: 3.6%
• Median income: $56,902
• One-year price forecast: 5.8%

You might be able to find excellent investment opportunities in suburbs such as Overland Park, Olathe, and Prairie Village. 

Cash Flow Market: Memphis, TN

Now that I’ve covered an appreciation market and two hybrid markets, I’ll wrap up by covering a popular cash flow market.

In Memphis, TN, the cash flow is strong, but you should be mindful when picking neighborhoods—some blocks will have high crime, while other neighborhoods will be much safer and experience higher appreciation. It’s best to work with boots-on-the-ground professionals in this market, whether with investor-friendly real estate agents and property managers or turnkey professionals who specialize in acquiring and managing cash-flowing properties, like Rent to Retirement.

The other good news is that the market is still appreciating overall:

Market metrics:

• Median price: $246,600 (using HouseCanary data, not U.S. Census)
• Median rent: $1,597
• Rent-to-price ratio: 0.65%
• Five-year job growth: 0%
• Median income: $54,464
• One-year price forecast: 3.7%

Memphis is also one of the largest logistics hubs in the United States. White-collar jobs aren’t as bountiful here, but blue-collar jobs are always in demand.

Want Help Buying Your First Out-of-State Property?

If building a team, picking the right neighborhood, looking for deals, walking through houses for sale, dealing with contractors, and managing the property seems overwhelming to you, you don’t have to do it alone. Rent to Retirement offers turnkey investment properties that can cash flow from Day 1. Take a look at their current list of cash-flowing deals for sale here.