17 Best Cities To Wholesale Real Estate [UPDATED 2024]

In this Real Estate Skills exclusive article, we'll reveal the best cities to wholesale real estate across the USA. 

Whether you are a seasoned investor or a newbie looking to break into the wholesaling market, this list will provide invaluable insights to help steer your decision-making process and maximize your return on investment.

Here are the 17 best cities for wholesaling real estate:

1. Houston, Texas
2. Austin, Texas
3. Dallas, Texas
4. Rochester, New York
5. Atlanta, Georgia
6. Denver, Colorado
7. Jacksonville, Florida
8. Miami, Florida
9. Phoenix, Arizona
10. Tampa, Florida
11. Indianapolis, Indiana
12. Orlando, Florida
13. San Antonio, Texas
14. Charleston, South Carolina
15. Memphis, Tennessee
16. Colorado Springs, Colorado
17. Grand Rapids, Michigan 

Ready to take your real estate investing to the next level? Learning What is Wholesale Real Estate is just the beginning. Schedule a FREE Strategy Session with us to learn how our Ultimate Investor Program can unlock even more opportunities and strategies in your market. Don't miss out—take the next step toward maximizing your investment potential today!

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*Before we begin our guide, be sure to watch our video on the 10 BEST States To Wholesale Real Estate!

Covering the entire span of the country, we delve into what sets each of these states apart, creating a perfect environment for both wholesalers and real estate investors.

Want more real estate videos? Be sure to visit our YouTube channel, here!

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Why Start Wholesaling Real Estate In 2024?

In 2024 and 2025, the real estate market is poised for significant changes, presenting a unique opportunity for investors to engage in wholesale real estate. Anticipated economic shifts, including the effects of a yield curve inversion leading to potential recession and unemployment, are expected to increase the number of distressed sellers.

This situation is likely to be exacerbated by the combination of low cash reserves, high credit card debt among homeowners, and ongoing inflation. Consequently, many property owners might be compelled to sell their homes, thereby increasing the supply of properties available for sale.

Such a surge in distressed properties could lead to a more pronounced real estate market correction than witnessed in 2008.

Wholesalers stand to benefit greatly from this scenario. They will find themselves at the forefront of a wave of sellers eager to convert their property equity into cash. This influx of properties could potentially eliminate the need for traditional Realtor services, resulting in a flood of distressed properties in the market and a consequent significant drop in real estate prices, especially in the best real estate wholesale markets. 

For wholesalers, this represents a golden opportunity to acquire properties at lower prices and subsequently sell them for a profit. Investors should therefore position themselves to scale and capitalize on this wave of properties, particularly in the best wholesale real estate markets.

The period of 2024 and 2025 is predicted to be a pivotal moment for real estate wholesalers, signaling a time of substantial change and opportunity in the market. That being said, let's take a look at the statistics of the best cities for wholesaling and why you should start investing in these places.

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*Before we begin our list of the best places to wholesale real estate this year, we invite beginners to view our video on How To Wholesale Real Estate Step by Step (IN 21 DAYS OR LESS)! 

Host and CEO of Real Estate Skills, Alex Martinez, provides a comprehensive, step-by-step guide for beginners to start wholesaling real estate!

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1. Houston, Texas

Houston is one of the largest cities in Texas (near Galveston Bay). With a globally recognized oil and gas industry and impressive job growth opportunities, there’s no reason to think Space City won’t continue its incredible growth rate. In particular, Houston’s metropolitan area—which includes Harris, Montgomery, and Ford—has demonstrated an increased propensity for growth and very attractive wholesale prospects for investors.

• Median Home Value:  $266,515 (2024)
• 1-Year Appreciation Rate: 1.1% (2024)
• Median Days On Market: 37 (2024)
• Population: 2,302,878 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $56,019 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 169.9 (Latest Information From The NAR)

Houston has been included on this list of the best cities to wholesale real estate because of its sustainable growth potential. The metrics for Houston paint a promising picture for wholesalers looking to capitalize on the city's dynamic market. With a median home value of $266,515 and a modest appreciation rate of 1.1%, investors can find opportunities without facing overwhelming costs, making entry more accessible.

The median days on market at 37 indicates a relatively quick turnover, suggesting strong buyer interest, which is crucial for wholesalers aiming to flip properties. The robust population of over 2.3 million, combined with a median household income of $56,019, reflects a growing consumer base that supports demand for housing.

Additionally, an affordability index of 169.9 highlights the city's favorable pricing relative to income, positioning it as an attractive area for both investors and potential homeowners. Together, these factors create a fertile environment for wholesalers to delve into diverse investment strategies, ultimately enhancing their potential for success.

2. Austin, Texas

Austin is well known for its educational opportunities, LBJ’s Presidential Library, vibrant music scene, and bustling nightlife. However, Austin’s popularity hit new heights in 2020 when Tesla announced its intentions to build an auto plant that would dramatically impact the local job market. According to TechCrunch, Tesla’s latest annual compliance report acknowledged that the electric vehicle manufacturer plans to invest at least $1.1 billion in the county over the next five years, making Austin even more attractive for wholesalers.

• Median Home Value:  $527,213 (2024)
• 1-Year Appreciation Rate: -4.9% (2024)
• Median Days On Market: 67 (2024)
• Population: 974,447 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $78,965 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 137.5 (Latest Information From The NAR)

Austin’s popularity has hit new heights over the last two decades and has an impressive affordability index. With many job opportunities and a thriving economy, there are always exciting investment opportunities to find for owner-occupancy or rental investment opportunities.

The metrics for Austin present a mixed but intriguing landscape for wholesalers looking to navigate this bustling market. With a median home value of $527,213, the city commands higher prices, which could deter some investors but also signals a strong demand from buyers seeking quality living options.   The negative appreciation rate of -4.9% indicates a potential cooling in the market, providing wholesalers with an opportunity to identify undervalued properties and negotiate better deals.

A median days on market of 67 suggests that while homes take longer to sell, this can be advantageous for wholesalers who can afford to hold properties a bit longer while marketing them effectively. Austin's population of 974,447 and a median household income of $78,965 highlight a robust economic environment supported by a wealth of job opportunities, particularly with Tesla’s substantial investment in the area.

An affordability index of 137.5 reveals that, despite the higher home values, the market remains relatively accessible, which bodes well for both rental and owner-occupant investments.

Ultimately, these factors create a unique set of opportunities for wholesalers to delve into diverse strategies, whether targeting distressed properties or catering to the growing demand for rentals in this vibrant city.

3. Dallas, Texas

Dallas is another excellent location to consider wholesaling real estate in 2023. The county seat of Dallas County extends into Colling, Rockwall, Denton, and Kaufman counties, giving investors a wide range of opportunities. Like the rest of the Texas real estate market, wholesalers are enjoying the current market cycle because of the city’s rapid growth and diversity.

• Median Home Value:  $313,158 (2024)
• 1-Year Appreciation Rate: 0.6% (2024)
• Median Days On Market: 42 (2024)
• Population: 1,299,544 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $58,231 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 167.4 (Latest Information From The NAR)

In addition to the leading indicators, Dallas ranked third on Indeed’s list of “Best Cities For Job Seekers”; that, combined with excellent affordability, a strong demand, and a median home value within the nation’s approximate average, makes Dallas a great place to wholesale real estate.

The metrics for Dallas reveal a vibrant opportunity for wholesalers looking to leverage the city’s expanding real estate market. With a median home value of $313,158, Dallas remains relatively affordable compared to many major U.S. cities, attracting a diverse range of buyers, including first-time homeowners and seasoned investors. The appreciation rate of 0.6% indicates that while the market isn’t surging dramatically, it is stable, allowing wholesalers to feel confident in their investments.

The median days on market of 42 suggests that properties are selling efficiently, which is essential for wholesalers aiming to flip homes quickly and minimize holding costs. The population of 1,299,544 coupled with a median household income of $58,231 underscores a solid economic foundation, fostering strong demand for housing in the area. An affordability index of 167.4 further highlights that, despite rising home values, many buyers can still find options within their budget.

Additionally, Dallas’s ranking as one of the top cities for job seekers signals a continuous influx of residents looking for homes, creating even more opportunities for wholesalers. This combination of factors allows wholesalers to explore various strategies, whether focusing on distressed properties or catering to the growing rental market, making Dallas a prime location for real estate investment. 

4. Rochester, New York

The metro Rochester area in New York (which usually includes six surrounding counties) is the third-largest in the Empire State. Rochester’s Economic Development anticipates Rochester, home to Xerox and Kodak, will be a top metropolitan area for overall growth.

• Median Home Value:  $224,319 (2024)
• 1-Year Appreciation Rate: N/A (2024)
• Median Days On Market: 10 (2024)
• Population: 209,352 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $40,083 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 278.1 (Latest Information From The NAR)

Rochester remains an affordable market and is often ranked atop those cities regarding the quality of life. Home values have increased significantly, marching higher for the better part of a decade. Rochester’s neighborhoods offer varying prices, with the most affordable being Dutchtown.

The metrics for Rochester present a compelling landscape for wholesalers eager to capitalize on the city's affordability and growth potential. With a median home value of $224,319, Rochester is highly accessible for both new and seasoned investors, allowing them to enter the market without exorbitant costs. T

he remarkably low median days on market of just 10 indicates a brisk selling environment, suggesting that wholesalers can quickly turn over properties, which is vital for maximizing profits. While the 1-year appreciation rate isn't available, the city's ongoing economic development, bolstered by established companies like Xerox and Kodak, signals a positive trajectory for home values.

With a population of 209,352 and a median household income of $40,083, the market is characterized by a diverse buyer demographic, further enhancing opportunities for wholesalers. The affordability index of 278.1 underscores the city's position as a budget-friendly option, attracting both first-time buyers and investors.

This combination of factors means that wholesalers can delve into a variety of strategies, whether focusing on affordable neighborhoods like Dutchtown or targeting the growing demand for quality rentals, ultimately paving the way for successful investments in Rochester's promising real estate market.

5. Atlanta, Georgia

Atlanta is the crown jewel of Georgia (also known as the Peach State); it offers a diverse population, industries, and real estate investments. Atlanta’s airport constantly ranks as one of the world’s busiest airports, suggesting the economy is growing.

• Median Home Value:  $395,201 (2024)
• 1-Year Appreciation Rate: 0.5% (2024)
• Median Days On Market: 52 (2024)
• Population: 499,127 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $69,164 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 178.1 (Latest Information From The NAR)

Despite Atlanta’s incredible recent growth and continued strong demand, the area remains relatively affordable for wholesalers and other investors. More importantly, Atlanta should remain one of the best cities to wholesale real estate as long as the most fundamental indicators maintain their current trajectory. 

The metrics for Atlanta present a promising landscape for wholesalers aiming to capitalize on the city's dynamic real estate market. With a median home value of $395,201, properties are still within reach for many buyers, creating ample opportunities for wholesalers to engage with a diverse clientele.

The 1-year appreciation rate of 0.5% indicates modest growth, suggesting that while the market isn’t rapidly increasing, it remains stable, allowing wholesalers to invest with a sense of security. A median days on market of 52 shows that homes are selling at a healthy pace, essential for wholesalers who want to turn properties over quickly. Atlanta's population of 499,127 and a median household income of $69,164 reflect a vibrant economy, bolstered by various industries, which in turn supports a strong demand for housing.

The affordability index of 178.1 suggests that, despite the rising home values, many residents can still afford to buy, making it a favorable environment for investment. As long as these fundamental indicators continue to trend positively, Atlanta is likely to remain one of the ultimate cities for wholesalers to delve into real estate, ensuring a wealth of opportunities for both flipping and rental strategies.

6. Denver, Colorado

Denver’s economy and population have proven resilient, growing at an impressive rate in recent years. In addition to hosting some of the most beautiful outdoor recreational areas of the United States, Colorado also has a flat income tax at the state level, so no matter what you earn, the state income tax never varies. Denver made our list of “The Best Cities To Wholesale In” for one reason: demand.

• Median Home Value:  $559,014 (2024)
• 1-Year Appreciation Rate: -0.9% (2024)
• Median Days On Market: 29 (2024)
• Population: 713,252 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $78,177 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 113.5 (Latest Information From The NAR)

Like all of its metropolitan counterparts, homes in Denver are selling fast. Inventory drives up prices, so wholesalers must act quickly to remain competitive in Denver. The city appears to have plenty of opportunities, so there’s never a shortcoming of potential deals.

The metrics for Denver reveal a complex but promising landscape for wholesalers eager to navigate this vibrant market. With a median home value of $559,014, properties are on the higher end, indicating strong demand, but also requiring wholesalers to be strategic in their approach to pricing and property selection.

The slight decrease in the 1-year appreciation rate at -0.9% suggests a cooling market, which can present opportunities for savvy investors to acquire properties at lower prices before the market rebounds.

A median days on market of just 29 indicates that homes are selling quickly, emphasizing the need for wholesalers to act decisively to secure deals. Denver’s population of 713,252 and a median household income of $78,177 reflect a robust economy that supports sustained housing demand.

The affordability index of 113.5, while lower than in some other cities, still shows that buyers are actively seeking homes, though they may be more selective. With limited inventory pushing prices higher, wholesalers must remain agile and ready to capitalize on emerging opportunities, ensuring they can thrive in a competitive environment where demand continues to drive the market.

Overall, Denver remains a prime location for wholesalers looking to tap into diverse investment strategies and capitalize on the city’s growth potential.

7. Jacksonville, Florida

Jacksonville is located near the Georgia border and the Atlantic Coastline. This northern Florida city has seen consistent growth in population and home values recently. The unique combination of appreciation and interest has helped Jacksonville become one of the best cities to wholesale real estate.

• Median Home Value:  $297,741(2024)
• 1-Year Appreciation Rate: +0.5% (2024)
• Median Days On Market: 59 (2024)
• Population: 971,319 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $58,263 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 157.4 (Latest Information From The NAR)

The median home value in Jacksonville is well below the national average, which currently serves to increase demand. The added attention appears capable of supplementing local wholesalers with a contract to assign.

8. Miami, Florida

Miami is one of the hottest markets in the country, if not the world. While always a winter playground for “snowbirds” looking to escape the frigid temperature of their current living situations, Miami’s residential market receives much attention year-round. Most notable, however, is the international demand for Miami real estate. Buyers worldwide appear to covet real estate in Miami, which bodes well for wholesalers trying to facilitate deals.

• Median Home Value:  $580,297 (2024)
• 1-Year Appreciation Rate: +7.5% (2024)
• Median Days On Market: 89 (2024)
• Population: 2,673,837 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $57,815 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 96.7 (Latest Information From The NAR)

Up to this point, the Miami real estate market is the least affordable on the “Best Cities To Wholesale” list. Nonetheless, there is tremendous growth, which is bound to offer some excellent investment opportunities in the future.

Miami’s real estate market metrics highlight both challenges and opportunities for wholesalers. With a median home value of $580,297, Miami is one of the pricier markets, but that high value is balanced by a robust 7.5% appreciation rate over the past year. This growth signals increasing demand and rising property values, which can lead to lucrative wholesale deals.

However, the affordability index of 96.7 indicates that housing is less affordable compared to other markets, meaning buyers may face more financial barriers. For wholesalers, this could mean focusing on working with investors or international buyers who are more equipped to handle the high prices.

The median days on market, at 89, suggests that while properties take a little longer to sell, there’s still ample time to market a contract. With a large population of 2.67 million people, Miami’s international appeal keeps demand high, presenting wholesalers with plenty of opportunities to find motivated buyers.

9. Phoenix, Arizona

Phoenix has always enjoyed a good reputation amongst those who love outdoor living and retirees. As one of the most active markets in all of Arizona, Phoenix has combined historic demand with rapid rates of appreciation; this unique combination offers wholesalers the ability to seek out more deals and potentially earn more per contract assignment.

• Median Home Value:  $580,297 (2024)
• 1-Year Appreciation Rate: 7.5% (2024)
• Median Days On Market: 89 (2024)
• Population: 1,644,409 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $64,927 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 130.9 (Latest Information From The NAR)

As one of the best cities to wholesale real estate, Phoenix investors will face a lot of competition. However, those who learn how to wholesale real estate in Arizona will find an advantage, especially when trying to find and analyze deals.

Read Also: Is Wholesaling Real Estate Legal in Arizona?

10. Tampa, Florida

The number of homes sold above list price in Tampa is dropping year-over-year, and about 34.6% of homes have exercised price drops. As a result, homeowners are looking to sell—and sell fast. With a relatively affordable market, wholesalers who can identify these sellers should find Tampa to be a great place to invest.

• Median Home Value:  $381,985 (2024)
• 1-Year Appreciation Rate: 2.5% (2024)
• Median Days On Market: 35 (2024)
• Population: 398,173 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $59,893 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 148.8 (Latest Information From The NAR)

Florida remains one of the best states to wholesale properties because of its high demand and relatively affordable home values. On the other hand, Tampa is one of the many reasons Florida remains so attractive to investors.

Tampa’s real estate metrics paint a promising picture for wholesalers looking to capitalize on the city's active market. With a median home value of $381,985, Tampa offers more affordable properties compared to many other major markets, making it accessible for a wide range of buyers and investors.

The 2.5% appreciation rate shows steady growth, which is ideal for wholesalers aiming to close deals in a market that’s still increasing in value without skyrocketing prices. Homes spend just 35 days on the market, a short period that indicates strong demand and gives wholesalers the ability to flip contracts quickly.

Tampa’s population of nearly 400,000 means a constant demand for housing, while the median household income of $59,893 ensures that many local buyers remain in play. With an affordability index of 148.8, housing remains within reach for most, making it easier for wholesalers to match sellers with interested buyers.

Combined with price drops and sellers eager to close fast, Tampa presents wholesalers with a favorable environment to find deals and move them efficiently.

11. Indianapolis, Indiana

Indianapolis has attracted a lot of attention from wholesalers and investors outside Indiana because of its affordability. In fact, Forbes acknowledges that Indiana is one of the cheapest states to live in in 2023, and Indianapolis is a big reason why. The city’s affordability creates demand at a time when demand is pent-up. The combination of activity and affordability has made Indianapolis one of the country's best cities to wholesale real estate.

• Median Home Value:  $228,378 (2024)
• 1-Year Appreciation Rate: 2.7% (2024)
• Median Days On Market: 16 (2024)
• Population: 880,621 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $54,321 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 205.0 (Latest Information From The NAR)

The median home value in Indianapolis is more than $100,000 below the national average, which is probably why demand is preventing homes from lasting on the market for more than seven days. As a result, investors will have plenty of opportunities, but they’ll need to move fast. 

Indianapolis continues to stand out as a prime market for wholesalers, largely due to its unmatched affordability. With a median home value of $228,378—significantly lower than the national average—investors are drawn to the city for the potential to find deals that provide great value.

The 2.7% appreciation rate reflects a steady increase in home values, which ensures that properties are not only affordable but also positioned to grow in value over time. Homes in Indianapolis typically spend just 16 days on the market, meaning demand is high, and deals move quickly—wholesalers must act fast to capitalize on opportunities.

With a population of over 880,000, there’s a large pool of potential buyers, and the median household income of $54,321 aligns well with local property prices, making real estate accessible to a broad audience. An affordability index of 205.0, one of the highest in the country, reinforces that Indianapolis is a budget-friendly market, ideal for wholesalers looking to move contracts in a city where housing remains within reach for many.

The combination of affordability, fast-moving inventory, and a growing population makes Indianapolis a key location for real estate wholesalers seeking consistent opportunities.

12. Orlando, Florida

Orlando isn’t only one of the best cities to wholesale real estate in Florida; it’s one of the country's best cities to wholesale real estate. Orlando, a city in the center of the Floridian peninsula, has been an investor’s haven since Mickey Mouse took up residence decades ago. Orlando is an exciting mix of high-tech employment and tourism.

• Median Home Value:  $382,567 (2024)
• 1-Year Appreciation Rate: 3.5% (2024)
• Median Days On Market: 36 (2024)
• Population: 316,081 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $58,968 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 131.8 (Latest Information From The NAR)

“Orlando is currently growing at a rate of 0.5% annually and its population has increased by 1.52% since the most recent census,” according to World Population Review. By any metric, the city is growing fast, which means there will be plenty of real estate deals for wholesalers to help with.

Orlando’s real estate market offers tremendous opportunities for wholesalers due to its consistent growth and vibrant mix of tourism and high-tech industries. The median home value of $382,567 positions it as a middle-range market, making properties affordable for many while still offering potential for significant appreciation.

With a 3.5% appreciation rate, homes are steadily increasing in value, which is beneficial for wholesalers looking to secure deals that will continue to appreciate over time. The median days on market, at just 36 days, highlights the fast-paced nature of the market, signaling that properties move quickly—something wholesalers need to capitalize on.

Orlando’s population of over 316,000 continues to grow at a steady rate, fueled by both economic and tourism-driven demand, ensuring a consistent flow of buyers and investors. The city’s median household income of $58,968 means many residents can still afford properties, despite the rising home values.

Additionally, an affordability index of 131.8 shows that, while home prices are rising, they remain within reach for a large portion of the population. For wholesalers, Orlando offers a dynamic market with plenty of opportunities to close deals in a city with constant demand for housing and a growing economy.

13. San Antonio, Texas

San Antonio is another Texas city that made our “Best Cities To Wholesale” list. Continuing the trend, San Antonio combines historic demand with rapidly increasing home values. In fact, the latest rate f appreciation across the country has made San Antonio more attractive to out-of-state investors.

• Median Home Value:  $255,778 (2024)
• 1-Year Appreciation Rate: -2.8% (2024)
• Median Days On Market: 46 (2024)
• Population: 1,472,909 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $55,084 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 168.1 (Latest Information From The NAR)

San Antonio’s real estate market has experienced tremendous growth but is still affordable, with a median home price well below the national average. Wholesalers should be able to locate great opportunities in San Antonio.

San Antonio’s real estate market continues to offer promising opportunities for wholesalers, especially given its affordability and growing demand. With a median home value of $255,778, significantly lower than the national average, the city remains an attractive market for both local and out-of-state investors.

While the 1-year appreciation rate shows a slight decline of -2.8%, this could work in favor of wholesalers, as sellers may be more motivated to offload properties quickly, presenting the potential for favorable contract assignments. The median days on market, at 46 days, means properties are still moving at a reasonable pace, offering wholesalers enough time to identify and secure deals while not sitting on inventory too long.

San Antonio’s large and growing population of over 1.4 million ensures a steady demand for housing, while a median household income of $55,084 keeps homes within reach for a wide range of buyers. Additionally, with an affordability index of 168.1, San Antonio is one of the more affordable major cities, which is ideal for wholesalers targeting a diverse buyer pool.

Overall, the city’s combination of affordability, population growth, and market activity positions San Antonio as a prime location for real estate wholesalers looking to capitalize on Texas’s booming market.

14. Charleston, South Carolina

Charleston is in South Carolina, among the most charming coastal cities in the southern United States. Charleston is still affordable, although median home prices have risen above national averages recently. Nonetheless, the city’s affordability continues to attract a lot of attention. The demand facilitates much activity, which bodes well for wholesalers.

• Median Home Value:  $564,285 (2024)
• 1-Year Appreciation Rate: 8.0% (2024)
• Median Days On Market: 62 (2024)
• Population: 419,279 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $70,807 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 148.3 (Latest Information From The NAR)

The Charleston region’s population is expanding faster than the national average, further indicating the area's popularity. Therein lies the benefit for local wholesalers: activity will facilitate more deals.

15. Memphis, Tennessee

Memphis, located along the Mississippi River, is Tennessee’s second most populous city. Memphis’s inland port offers a great job market, which would explain the city’s rapid growth in population over the last few decades. That growth is also responsible for the need for more housing. As new buyers enter the market and interest rates settle, the demand will cater to local wholesalers.

• Median Home Value:  $148,884 (2024)
• 1-Year Appreciation Rate: 1.5% (2024)
• Median Days On Market: 51 (2024)
• Population: 621,056 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $43,981 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 175.0 (Latest Information From The NAR)

Memphis has scored some of the highest appreciation rates but remains quite affordable from a historical perspective. In fact, the median home value in Memphis is less than half the national average, which should promote a lot of activity for wholesalers to capitalize on.

Memphis presents a compelling landscape for wholesalers, driven by its unique economic factors and affordable housing market. With a median home value of just $148,884, Memphis is significantly below the national average, making it an attractive option for first-time buyers and investors alike. This affordability plays a crucial role in sustaining demand, particularly as the city’s population continues to grow, now at 621,056. The 1.5% appreciation rate, while modest, indicates a steady upward trend that can still benefit wholesalers looking to secure properties for assignment.

Homes in Memphis average 51 days on the market, suggesting a healthy turnover that allows wholesalers to quickly identify potential deals. The median household income of $43,981, coupled with an affordability index of 175.0, further illustrates the city’s potential for growth—affordable homes are within reach for a wide array of buyers, fueling ongoing market activity.

As new residents continue to flock to the area for job opportunities linked to its strategic location as an inland port, the demand for housing will only increase, creating fertile ground for wholesalers eager to tap into Memphis's thriving market.

Overall, the combination of affordability, job growth, and rising interest from new buyers positions Memphis as a prime city for wholesalers looking to thrive in a competitive real estate environment.

16. Colorado Springs, Colorado

The Colorado Springs real estate market has seen impressive appreciation and population growth. Over the last decade, the city’s population has increased by more than 12%. In only a few years, the population is expected to eclipse 500,000, according to World Population Review. The increasing population and equally impressive gains in the real estate market suggest wholesalers can thrive for the foreseeable future.

• Median Home Value:  $452, 001 (2024)
• 1-Year Appreciation Rate: 0.6% (2024)
• Median Days On Market: 34 (2024)
• Population: 486,248 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $71,957 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 133.1 (Latest Information From The NAR)

Only a short drive from Denver, the Colorado Springs real estate market received much attention during the pandemic when more people were looking to escape big cities. Today, the influx of demand continues; that, combined with increasing home values, represents an excellent opportunity for wholesalers.

Colorado Springs has emerged as a thriving hub for real estate, offering significant opportunities for wholesalers eager to capitalize on its impressive growth trajectory. With a median home value of $452,001, the market reflects a solid investment potential, even as it remains more accessible compared to nearby Denver.

The city's 1-year appreciation rate of 0.6% indicates a steady, if modest, increase in home values, signaling that while growth may be gradual, the market is stable and resilient. Properties in Colorado Springs spend an average of just 34 days on the market, suggesting a competitive landscape where homes are selling quickly—an important consideration for wholesalers aiming to secure contracts swiftly.

The city's population has grown to 486,248, and projections indicate it will surpass 500,000 soon, which bodes well for sustained demand. Additionally, a median household income of $71,957 supports this growth, allowing more residents to invest in homes. With an affordability index of 133.1, Colorado Springs remains relatively affordable, ensuring that a diverse range of buyers are looking for properties.

Overall, the combination of rapid population growth, strong demand, and increasing home values positions Colorado Springs as an ideal market for wholesalers ready to make their mark in the Colorado real estate landscape.

17. Grand Rapids, Michigan

Grand Rapids is one of the popular mid-sized metro areas in the Midwest, including western Pennsylvania and Ohio. In particular, Grand Rapids is one of the best cities for first-time homebuyers, according to SmartAsset. Thanks largely to its affordability, livability, and employment opportunities, Grand Rapids attracts an entire generation of buyers who need starter homes. Investors who can facilitate their transactions stand to benefit immensely. 

• Median Home Value:  $278, 921 (2024)
• 1-Year Appreciation Rate: 5.8% (2024)
• Median Days On Market: 8 (2024)
• Population: 196,908 (Latest U.S. Census Bureau Estimates)
• Median Household Income: $55,385 (Latest U.S. Census Bureau Estimates)
• Affordability Index: 200.1 (Latest Information From The NAR)

Median home values in Grand Rapids are significantly below national averages, which is why the city attracts many first-time homebuyers. Fortunately for wholesalers, those first-time buyers need homes, which is why Grand Rapids rounds out the list.

Grand Rapids stands out as a vibrant market for wholesalers, especially with its reputation as an appealing destination for first-time homebuyers. The median home value of $278,921 is attractively low compared to national averages, making it accessible for many buyers looking to enter the housing market.

This affordability is reinforced by a robust 5.8% appreciation rate over the past year, indicating a strong upward trend that suggests both stability and potential for future growth. Homes in Grand Rapids are selling quickly, with a median days on market of just 8, which creates an urgent environment for wholesalers to secure properties and move quickly to close deals.

The city's population of 196,908, along with a median household income of $55,385, supports a steady demand for housing, particularly among younger buyers seeking starter homes. An affordability index of 200.1 reflects the market's favorable conditions for buyers, enhancing the likelihood of successful transactions for wholesalers.

As the city continues to attract a new generation of homeowners drawn by its livability and job opportunities, wholesalers who can effectively navigate this market will find themselves in a prime position to capitalize on the increasing demand for homes in Grand Rapids.

Read Also: Is Wholesaling Real Estate Legal In Michigan?

How To Determine What City Is Best For Wholesaling Real Estate

Wholesaling real estate is an investment strategy that has shot to superstardom in real estate investing. The reasons why wholesaling houses has become a wildly popular investment strategy are relatively simple – real estate investors have recognized that real estate wholesaling is quite profitable, especially for a market operating in Phase II (a.k.a., expansion) of the real estate market cycle.

• As a real estate investment strategy, wholesale real estate requires minimal capital.
• Depending on your resources, wholesaling investment properties can be done with less-than-perfect credit.
• Wholesaling is a short-term investment strategy that helps minimize potential risk, especially when compared to flipping houses.
• Wholesaling fits hand-in-glove with the modern digital marketplace with data available from many sources and apps like Zillow and Redfin.
• Wholesaling is the type of real estate investment strategy that can be used to grow or scale a business.

Wholesalers search for potential real estate wholesale properties and profit-generating opportunities. Properties are often distressed properties (priced below market value) owned by financially-challenged sellers (i.e., foreclosure). When a wholesaler finds an investment that meets their criteria, they enter a contract with one of the homeowners selling a viable investment – for an agreed-upon price within a specified timeframe.

The executed contract awards the wholesaler (or any buyer) equitable interest as defined by the Doctrine of Equitable Conversion.

Equitable conversion is the legal standard that awards the wholesaler/buyer legal title - ’owner-in-equity’ of the subject property.

This equity ownership is the asset in which you, as the wholesaler, can freely market and sell. Equitable interest is the only asset you hold that can be sold without a real estate licensee, realtor, or the need to become a real estate agent for yourself.

An experienced real estate wholesaler actively networks with various real estate-related professionals, hard money, and traditional lenders, plus a buyers list that would likely - include many cash buyers.

But how does a wholesaler begin to know how to evaluate a real estate deal in a market objectively? Should it be a rental property or a multi-unit? The answer is usually highly personal and depends on the wholesaler’s experience, skill, resources, and professional goals. The good news is that since the digital marketplace has established a stronghold in real estate, wholesaling is no longer largely dependent on one’s physical location. Virtual wholesaling is now available and successfully practiced by many wholesalers.

Read Also: Wholesale Contracts In Real Estate: FREE PDF & Template

Market Conditions To Consider When Wholesaling Real Estate

The Market’s growth rate during the past two years is representative of property values growing on steroids. And while record growth has impressed and awarded investors more than once since mid-century modern furniture was in style, the past 24 months can undoubtedly be viewed as one of the all-time top performance periods. This remarkable real estate growth during recent years was energized by:

• Pandemic-changing demands and needs due to a disruption to life as one knew it.
• Speculators realized real estate became a sound investment, especially during economic and political turmoil.
• Historically low-interest rates were reduced to keep the economy from tanking due to the pandemic, to name a few.

What is certain is that this unprecedented growth is unsustainable, although no one can know exactly when a shift in the market will occur.

And a shift may not necessarily be as gloomy as it sounds because, in the world of wholesaling, new market metrics define new opportunities for clever real estate investors who can shift strategies on the fly to align with modified market conditions. For instance, identifying the best markets to wholesale real estate 2024 can position investors to take advantage of emerging trend.

Before you can determine if the market or city is suitable, you need to have a firm understanding of the wholesale process, the laws that govern, and the market specifics in which you plan to operate. The following demographic and economic indicators should be considered when evaluating a market’s investment viability.

Note that the national data included below is a benchmark used by wholesalers considering new investments. Specific market metrics impact differently – depending on the wholesaler, the neighborhood, the market, and the state.

Home Values

Home values have experienced every end of the spectrum in as little as four years. Heading into the pandemic, prices appreciated year-over-year since 2012. It is important to note, however, that prices rose because of supply and demand issues; there simply weren’t enough homes to keep up with demand. As a result, prices peaked around 2022. 

That pandemic also fueled an influx of homebuying, as government stimuli and record savings put more money in people’s pockets. The pandemic is also responsible for historic inflation, and the Federal Reserve will stop at nothing to end the weaker dollar. In doing so, the Fed raised interest rates, which ultimately curtailed a decade’s long runup in home values.
Despite the slowdown in appreciation, the median home value in the United States is about $348,853, up 1.2% year-over-year and about 55% higher than five years ago.

Pro Tip: Market cycles inevitably change. Stay tuned to the Market and adjust strategies as conditions warrant.

Days On Market (DOM)

Days On Market, which indicates the time it takes for an accepted offer. The DOM offers an insight into the competitive demand for the subject in its local market, making it a crucial factor for anyone looking to find the best place to wholesale real estate The smaller the DOM, the more likely that demand will outpace supply.

Demographic & Population Trends

Demographics, like statistics regarding population, area income, and population growth, offer valuable data regarding the area in which you hope to invest. Demographic data can provide trending insights. Population trends impact demand and thus real estate prices. For example, the Millennial generation is now ranked as the largest, with buying power that cannot be overlooked in investment analysis.

Interest Rates

Interest rates fluctuate for several reasons. Economists use interest rates as a tool to help control the economy. The most significant impact is a change in Prime Rate by the Federal Reserve Bank. The FED attempts to tame Inflation or encourage growth by making money more (or less) expensive to borrow. The FED’s latest move is designed to cool a red-hot inflationary marketplace.

Lower rates attract more buyers because each dollar buys that much more of a house.

Interest rate changes can significantly influence a person's ability to purchase a residential property. It can impact wholesalers who use mortgage funds as a tool to complete the wholesale deal.

Pro Tip: Wholesaling real estate requires little capital – usually just a small percentage of the agreed-upon price, known as an earnest money deposit that is held in escrow. Interest rates have no impact on the money that is not borrowed.

Affordability Index

"This index uses the value of 100 to represent the position of someone earning a population’s median income, with values above 100 indicating that an item is more likely to be affordable and values below 100 indicating that an item is less affordable. Points below 100 indicate that a median family may struggle to qualify for a mortgage on a home in the area, while a value of 100 indicates that the typical family has exactly enough income to qualify."

Affordability is a complex index– dependent on variables like relative income, GDP, interest rate adjustments, and home values, among others. The following graphically shows the somewhat complicated interrelationship of these factors.

Source

Final Thoughts

Successful wholesalers understand the mechanics of wholesaling before diving in headfirst. When you have learned how to wholesale real estate, the many available market metrics can provide incredible insightful information to the trained eye. It is, as they say, hidden in plain sight.

But any way you look at it wholesaling real estate is a very profitable investment technique in many different cities and markets, particularly in the best wholesaling markets 2024. To properly utilize this technique and learn the strategies that go into this process a wholesaler must seek proper guidance and training to build up a successful career. They must also learn to remain within the legal boundaries when wholesaling houses in whichever city they choose to launch their real estate wholesaling business. 

To avoid having to make rookie mistakes, many new real estate investors enroll in wholesale real estate classes to learn how to get into wholesale real estate state!

Ready to take your real estate investing to the next level? Learning What is Wholesale Real Estate is just the beginning. Schedule a FREE Strategy Session with us to learn how our Ultimate Investor Program can unlock even more opportunities and strategies in your market. Don't miss out—take the next step toward maximizing your investment potential today!

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*Disclosure: Real Estate Skills is not a law firm, and the information contained here does not constitute legal advice. You should consult with an attorney before making any legal conclusions. The information presented here is educational in nature. All investments involve risks, and the past performance of an investment, industry, sector, and/or market does not guarantee future returns or results. Investors are responsible for any investment decision they make. Such decisions should be based on an evaluation of their financial situation, investment objectives, risk tolerance, and liquidity needs.