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Minneapolis Tops List of Best College Towns for Home Flipping

flipping-housesMinneapolis, Minnesota, has been the top college town for home flipping so far in 2014, according to data released by RealtyTrac earlier this week.

The home of the University of Minnesota ranked first on RealtyTrac's list of best college towns for home flipping with an average gross ROI of 65.59 percent. Towns were ranked according to their average gross ROI for single-family homes flipped in the town year-to-date in 2014 as of August 31.

Seattle, Washington, home of the University of Washington, was close behind in second place with an average gross ROI of 61.88 percent, according to RealtyTrac. Lincoln, Nebraska, where the University of Nebraska is located, came in third with an ROI of 55.01 percent.

Rounding out the top 10 best college towns for flipping, according to RealtyTrac's data, were San Francisco (fourth, San Francisco State); Trenton, New Jersey (fifth, Thomas Edison State College); Gainesville, Florida (sixth, University of Florida); Denver (seventh, University of Colorado); Cincinnati (eighth, University of Cincinnati); Akron, Ohio (ninth, University of Akron); and Raleigh, North Carolina (10th, North Carolina State).

Akron, Ohio, topped RealtyTrac's list of best college towns for buying rentals with an average rental yield of almost 14 percent. Trenton, New Jersey, and Gainesville, Florida, came in second and third on the list, respectively. The average rental yield is calculated by dividing the annualized rental income (using average fair market rents for the town from the U.S. Department of Housing and Urban Development) by the average of the median sales prices in the town year-to-date in 2014 as of August 31, 2014.

For both of these lists, RealtyTrac considered towns with a public four-year university with an enrollment of 20,000 or more in 2012 based on data from the National Center for Educational Statistics. The town also had to be located in a county with an employment rate below 6.2, which was the national average in June 2014.

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.
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