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Boise on top 10 list for home flipping

House flippers will find good opportunities in Boise, according to a study from WalletHub. File photo

Looking to flip a house in Boise? You’re in luck — the City of Trees is among the best locations in the country for house flippers, according to a new report from WalletHub.

The personal finance website rated Boise No. 10 best in the country when it comes to transforming a fixer-upper into a profitable property. The analysis looked at 172 U.S. cities across 29 key indicators of market potential, cost and quality of life. The data set includes metrics like median purchase price, average full home remodeling costs and housing-market health index.

Overall, Sioux Falls, South Dakota, ranked as the top spot for flippers, with Missoula, Montana, and Rapid City, South Dakota, rounding out the top three.

On the other end of the scale, Bridgeport, Connecticut, was the worst city to flip a house, followed by Yonkers, New York, and Newark, New Jersey.

Pittsburgh came out on top for highest average gross return on investment at 144.16%. Austin, Texas, had the lowest average gross return at 16.96%. Nationwide, the average gross flipping profit in Q1 2019 was $60,000.

In recent months, Boise has been noted on a number of national lists for robust real estate.

Treasure Valley’s home prices continue to hit record highs, with the median sales price for Ada County homes reaching an unprecedented $354,405 in June. Northwest Boise and West Boise have experienced particularly strong growth, with each seeing prices rise roughly 17% from July 2018 to July 2019, according to statistics provided by Ralston Group Properties.

Last month, Realtor.com named Boise ZIP 83704 as the third hottest zip code in the country. Homes in 83704, the western part of the city along Route 20, typically sell within 14 days — 43 days faster than the national average — and millennials make up the dominant buyer segment, the website noted.

 

Best Cities to Flip Houses

  1. Sioux Falls, SD
  2. Missoula, MT
  3. Rapid City, SD
  4. Billings, MT
  5. Peoria, AZ
  6. Tampa, FL
  7. Fort Smith, AR
  8. Greensboro, NC
  9. Las Cruces, NM
  10. Boise, ID

Worst Cities to Flip Houses

  1. Bridgeport, CT
  2. Yonkers, NY
  3. Newark, NJ
  4. Oakland, CA
  5. San Francisco, CA
  6. Wilmington, DE
  7. Boston, MA
  8. New Haven, CT
  9. New York, NY
  10. Los Angeles, CA

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