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However, Zillow isnt quite as optimistic, expecting prices to decrease by 1.4% through May 2025.
Even though the real estate market is uncertain, investors will still proceed with upcoming projects.
Lets dig in a little further intowhy this location may be worth investing in.
Location, Location, Location
One of the most crucial factors in real estate is location.
I believe its the best-kept secret in Pennsylvania.
Harrisburg, Pennsylvania, is a resurgent city withaffordable growth potential.
A lot goes into finding cities and neighborhoods that check all the boxes.
This diversification has created a resilient job market and spurred demand for housing.
Affordable Housing
Pricing is another significant factor for investors.
One of Harrisburgs standout features is its affordability compared tomajor metropolitan areason the East Coast, Smith said.
Right now, Zillow shows theaverage home valuein Harrisburg at $249,086.
However, its also important to remember that the investment cost is only a small piece of the puzzle.
Making sure the investment is going to be profitable is critical to the success of an investment.
This means researching the potential price-to-rent ratio, capitalization rate and expected cash flow.
Thats where Harrisburg fits the bill.
This proximity makes it an attractive option for commuters and businesses, further fueling demand for housing.
Upgraded Infrastructure
Most people have a visual of where they want to live.
It most likely doesnt includedilapidated buildings and roadsfilled with potholes.
Instead, they want to live somewhere where people care about how its perceived.
Someplace where developers and government officials care enough to update roads and buildings but also preserve this historic charm.
This is what Harrisburg can offerinvestors and residents.
These developments enhance the citys appeal and contribute toproperty value appreciation.
The location will always be a critical factor.
This is what makes Harrisburg such an attractive city for Smith.
Harrisburg is a city that can be overlooked, Smith said.
The city presents a unique opportunity forreal estate investors.
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