StorageCafe says finding a home with good bones is not easy, however, they say a lot of it depends on the location. To that end, they analyzed over 61k active single-family listings in the 50 biggest US cities to determine their list of best cities for fixer-uppers. They looked at several metrics, including price, number of active fixer-upper listings, home & lot sizes as well as self storage costs and inventory (which they say is useful both during & after the renovation process). Interestingly, they point out that fixer-uppers are generally smaller in size (1,400 sq. ft. on avg. vs. 1,900 sq. ft. for standard homes).
Some key findings:
- Milwaukee and Philadelphia stand out as prime fixer-upper markets thanks to a combination of fixer-upper listings inventory, fixer-upper discounts and more.
- The most expensive homes in need of repairs are in CA’s Tech Hubs: San Jose and San Francisco.
- The most affordable fixer-uppers are in Detroit ($60K).
Click here to read the full report at StorageCafe.com.
