BiggerPockets Real Estate Podcast

Episode: Where We’d Invest in Real Estate Right Now (9 Markets)
Air Date: September 5, 2025
Host: Dave Meyer
Guests: Ashley Kerr, Henry Washington

Overview

In this engaging episode, Dave Meyer, Head of Real Estate at BiggerPockets, returns with the ever-popular best real estate markets feature. Joined by regular guests Ashley Kerr and Henry Washington, the trio share and dissect nine U.S. markets they believe are primed for real estate investment in late 2025. The hosts weigh cash flow, affordability, appreciation potential, local job growth, and infrastructure investment, delivering fresh perspectives for both new and experienced investors. This episode puts special emphasis on understanding how to analyze a market beyond the headlines, with plenty of debate, data, and a touch of humor.

Key Discussion Points & Market Picks

The Hosts’ Philosophies (00:48 – 05:00)

• Henry Washington focuses on affordability, strong rents, cities investing in infrastructure and jobs. He's looking for places people would enjoy living and major metros where cash-flow is still possible.

  • “Affordable house pricing so under the national average, and where rents were strong...where cities were investing in jobs and infrastructure. That’s what you’re looking for.” (02:17, Henry)

• Ashley Kerr seeks slow and steady appreciation, a bit of cash flow, and prefers smaller or lesser-known towns with growth potential— “the rural towns for where the cash flow, opportunity, and appreciation is.”

  • “I root for the rural towns... that’s where the cash flow, the opportunity and the appreciation is.” (15:52, Ashley)

• Dave Meyer wants to protect against downside risk with long-term fundamentals—places that allow for on-market cash flow and aren’t at high risk of decline.

  • “I really wanted to find places that have good long term potential but are not at risk of any sort of significant declines... find on market cash flow.” (09:06, Dave)

The Nine Markets to Watch

1. Columbia, South Carolina (Henry) [02:58]

• Why?
  Affordable ($250K median price), solid rent to price (0.65%), less than 10% vacancy, robust job market, and city investment ($50M revitalization + $500 acre innovation district fuelled by U. of South Carolina).
• Sectors: Healthcare, government, technology.
• Landlord Friendly: Yes, with <$3K median insurance and <1% property tax.
• Quote:
  “Another reason it’s cool: landlord friendly. So you’re able to operate as a landlord a little easier in this state than some other states.” (05:00, Henry)

2. Greenville, South Carolina (Ashley) [06:17]

• Why?
  Focus on appreciation with a stable 3–4% annual price growth, $234K median value, steady rental demand ($1700–$1750), and consistent 2–7% annual rent growth.
• Insurance Consideration: Not on the coast, so insurance is affordable.
• Quote:
  “I feel like there’s a lot of opportunity on the east coast...Greenville is far enough away where it’s not going to be hit with crazy insurance.” (06:33, Ashley)

3. Des Moines, Iowa (Dave) [09:32]

• Why?
  Fastest-growing population in the Midwest (6% since 2020), $3 billion downtown investment, flat prices offer negotiation opportunities, and solid housing market fundamentals.
• Quote:
  “In Des Moines, there was a $3 billion...that is 60 times more than Henry’s market investment in the downtown area.” (10:08, Dave)

4. McKinney, Texas & Surrounding (Ashley) [15:25]

• Why?
  Submarkets (Princeton, Little Elm, Lavon) near Dallas; explosive growth (Princeton: 30% annual population growth), massive development ($1.5B plaza), lakefront, and flexibility for both long-term and short-term rentals.
• Tenant Quality: Emphasizes higher-end housing for quality tenants.
• Quote:
  “It’s worth it to pay more for a property, maybe have less cash flow, but not have to deal with those kind of headaches.” (19:23, Ashley)

5. Cincinnati, Ohio (Henry) [19:59]

• Why?
  Strong cash flow ($272K median, $1868 rent, 0.69 rent-to-price), 7% vacancy, 4.9% unemployment, 56% five-year growth, $800M downtown and stadium upgrades to keep Bengals until 2036.
• Landlord Friendly: Yes, 1% property tax.
• Quote:
  “Usually you don’t see numbers this strong in major metropolitan areas. So I just think I couldn’t overlook it again this time.” (21:39, Henry)

6. Louisville, Kentucky (Dave) [23:22]

• Why?
  Shares many strengths with Cincinnati: large metro, robust growth (5–6% home price increase last few years), and is the main contributor (40%) to the state’s GDP.
• Personal Touch:
  “Plus also, if you ever go out with me, you know I like drinking bourbon. So I’m partial to Louisville.” (23:22, Dave)

7. Hartford, Connecticut (Dave) [28:55]

• Why?
  Median price ($420K) matches national average but is highly affordable when compared to nearby Boston or New York. Noted for consistent demand from big city residents seeking affordability.
• Quote:
  “Hartford’s median home price is about the same as the national average...a city right in between two massive economic engines.” (29:35, Dave)

8. Greensboro, North Carolina (Henry) [30:23]

• Why?
  $251K median price, $1,600 median rent, benefits from migration out of expensive nearby metros like Raleigh and Charlotte. Major $4.7B investment in Triad International Airport by Jet Zero Aerospace, bringing 14,500 jobs.
• Quote:
  “If I were to pick one of the three markets that I brought today and I had to buy a property...this is the one I would choose.” (33:57, Henry)

9. Toledo, Ohio (Ashley, via Instagram poll) [34:09]

• Why?
  Chosen by audience, $188K median, $1,400 rent (0.75 rent-to-price). However—little population/rent/appreciation growth, higher unemployment (6.7%), and just a $53M downtown investment.
• Cautions:
  More suited to cash flow only; lacks appreciation and rent growth, considered a “no” by both Ashley and Henry in 2025.
• Quote:
  “Maybe it’s a great starting point for someone...but for me, it’s a no because there is very, very little appreciation.” (35:45, Ashley)

Notable Quotes & Memorable Moments

• Dave (on Des Moines):
  “Des Moines is actually the fastest-growing metro area in terms of population in the Midwest...a $3 billion downtown investment.” (09:43)

• Henry (on picking cities):
  “You want to pick a place where people are moving there because they want to live there. And when they get there, there’s good jobs for them. Because that lets me know that if I spend some money now that that’s a good investment for the future.” (37:10)

• Ashley (on tenant quality):
  “I like the idea of a higher end city, but finding the people that can’t afford to actually live in the city but want that same good quality of life and they’ll move outside it just a little bit.” (19:54)

• Ashley (on Toledo):
  “I think this goes along with how I started out...I went for cheaper areas, cheaper markets...I’m going to stay away from this market.” (35:45)

• Dave (on market requirements):
  “If one of the two has to be growing—either property values or rents—but if neither are growing, it’s just not very exciting.” (40:46)

Timestamps for Key Segments

• Opening Thoughts & Philosophies: 00:48 – 05:00
• Columbia, SC (Henry): 02:58 – 06:00
• Greenville, SC (Ashley): 06:17 – 08:41
• Des Moines, IA (Dave): 09:06 – 11:54
• McKinney, TX Suburbs (Ashley): 15:25 – 19:54
• Cincinnati, OH (Henry): 19:59 – 23:22
• Louisville, KY (Dave): 23:22 – 28:55
• Hartford, CT (Dave): 28:55 – 30:23
• Greensboro, NC (Henry): 30:23 – 34:03
• Toledo, OH (Ashley): 34:09 – 40:50
• How to Analyze Markets & Wrap-up: 40:50 – 41:46

Final Thoughts

The hosts underline the importance of looking beyond surface-level cash flow and property prices—population growth, infrastructure, job markets, and local economic investment are critical factors. The debate between appreciation-focused and cash flow-focused strategies is highlighted, with a clear warning against markets lacking both rent and appreciation growth.

Dave closes with:
“Hopefully you all learned something—not just about some potential markets that you can invest in, but just the way we think about evaluating markets. Whether you're looking at a neighborhood within your market or identifying new markets out of state...it’s a great way to diversify your portfolio.” (41:00)

Summary Table: Markets & Key Data

| Market | Median Home Price | Median Rent | Rent:Price | Notable Factors | |----------------------|------------------|-------------|------------|-------------------------------------------------| | Columbia, SC | $250,000 | $1,623 | 0.65 | Job/infrastructure growth, landlord-friendly, rising population | | Greenville, SC | ~$234,000 | $1,700–1750 | 0.73ish | 3–4% appreciation, not coastal, rent growth | | Des Moines, IA | n/a | n/a | n/a | $3B downtown, fastest-growing Midwest metro | | McKinney, TX Suburbs | n/a | n/a | n/a | 30% ann. pop growth (Princeton), $1.5B dev., flexibility | | Cincinnati, OH | $272,000 | $1,868 | 0.69 | Strong rent, cash flow, $800M+ investments | | Louisville, KY | n/a | n/a | n/a | Rapid home price/appreciation, state investment | | Hartford, CT | $420,000 | n/a | n/a | Relatively affordable for NE, high demand | | Greensboro, NC | $251,000 | $1,600 | 0.64 | $4.7B airport, job boom from Jet Zero Aerospace | | Toledo, OH | $188,000 | $1,400 | 0.75 | Pure cash flow, little/no growth or appreciation |

For Further Learning

To access more episodes or read additional real estate investing resources, visit: www.biggerpockets.com

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