We’re always keeping an eye on the most quickly-growing commercial real estate markets at Lionshare. As a leading hard money lender, we have a vested interest in understanding where hard money loans and private financing can be used most effectively – and in this article, we’ll break down the top 5 markets for hard money lending in the country. Let’s get started.
Florida already has an enormous population with nearly 21 million people – and it continues to grow. This is especially true in key markets like Orlando, FL. Orlando’s population is going to grow by 3.8% in 2018 – which is astonishing considering the nationwide growth rate of 0.7%.
Because of this continued population growth, it is likely that Florida will be a great place for hard money lending. Developers will need to continue constructing commercial real estate, as well as single-family residences and multifamily apartments.
2) New York
New York City is continuing to grow at a rapid pace, and has hit a record 8.8 million residents as of 2018. As the population of people living in New York City continues to grow, and its urban sprawl continues to expand, there is a lot of potential for real estate development and investment. Whether it’s building economy housing outside of the city limits, or repurposing older buildings into condominiums or retail space, there is a lot of potential in New York City, and in the state of New York.
As the most populous state in the nation, California is always growing and expanding. This is particularly true in Silicon Valley and the Bay Area, where the technology boom of the last 10-15 years has resulted in a red-hot real estate market. Population growth continues to expand rapidly, and there is no sign of this boom slowing down any time soon.
Salt Lake City, Utah, is one of the most quickly-growing cities in America, and has been recognized as a great place for new, up-and-coming tech startups. This is due to a great tax code and business incentives, as well as a location that is relatively close other tech companies in states like Washington, Oregon, and California.
Its 3.9% job growth is the highest in the country – and if this trend continues, more apartments, homes, and commercial real estate will be required to fulfill demand, making it an ideal hard money lending market.
Austin is the tech capital of Texas, and one of the best cities for younger, tech-savvy startup companies, and nearby Houston is quickly becoming a top choice for large corporate headquarters.
International companies such as Toyota and America Modern Green Development have moved their headquarters to Houston, spurring increased economic growth. We anticipate that hard money lending will be important throughout the entire state in the foreseeable future.
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With over 40 years of experience in hard money lending, and a reputation for excellence, Lionshare Lending is the best choice for private lending. Contact us now to learn more, and see if your project qualifies for a hard money loan.