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Since you can change almost everything about a property except its location, the safest path to profiting from a rental would be to buy it in a zip code that’s seeing accelerated growth. The obvious problem that most investors face is that the areas of high growth are usually already expensive. Nada, a Dallas-based startup, solves that problem with Cityfunds, a diversified portfolio of four prosperous U.S. cities you can invest in with $100.
Once you own shares of a Cityfund, you get dividends from rent and liquidation events with the added expectation that your shares may appreciate in value. You can sell your shares on the secondary market. Over 10,000 investors have joined Nada and invested in at least one of four available Cityfunds. Here’s a brief outlook on the prospects of each city.
Austin-Round Rock-Georgetown is the fastest-growing large metro area in the United States. Home to Apple, Google, Facebook and Oracle, it has become one of the busiest tech hubs in the world. Samsung is currently finishing a $17 billion semiconductor facility in the area that’s expected to bring 4,500 jobs. Elon Musk is building a small town to house workers for the Tesla Gigafactory, which opened in 2016. According to the U.S. Census Bureau, the metro area grew by 14.1%, adding 290,410 to its population from 2016 to 2021.
Austin Cityfund is up 9.6% since its inception.
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By increasing its population by more than half a million, Dallas-Fort Worth earned the title of the 7th fastest-growing city in the U.S. The city’s favorable economic climate has been steadily attracting businesses and boosting the real estate demand. Since 2010, about 100 domestic companies staked their flag in Dallas, including Toyota North America, which moved from California, and Topgolf, which moved from Illinois. Apart from them, Dallas is home to multi-billion dollar businesses like American Airlines, Lockheed Martin Aeronautics, Bank of America and JP Morgan Chase & Co.
Dallas Cityfund is up 13% since its inception.
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Warm weather, vibrant beaches and a booming job market make the Tampa-St. Petersburg-Clearwater metro area one of America’s most coveted places to live. According to the U.S. Census Bureau, it managed to add 170,551 inhabitants between 2016 and 2021. Its real estate market is holding up very well despite high mortgage interest rates. In 2022, Forbes ranked Tampa as the no. 1 emerging tech city in the U.S. The area is already home to many Fortune 500 companies, and others are on the way. International Data Corp, OPSWAT, Genesis Systems, Pfizer and Fisher Investments are all looking to set up shop in Tampa.
Tampa Cityfund is up 11.5% since its inception.
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Miami’s population is growing relatively slowly, but the people moving in are the kind that every real estate investor hopes for. Spurred by no state income tax, warm weather and a sea of amenities, Miami (and Florida in general) has become a magnet for high-income earners. Between 2012 and 2022, the number of Miami millionaires grew by 75%, according to a wealth report from Henley & Partners and New Work Wealth. That is partly the reason why Redfin data on Miami’s median home prices looks like this:
(Image courtesy of Redfin)
While, for example, San Francisco’s looks like this:
(Image courtesy of Redfin)
Miami Cityfund is up 12.5% since its inception.
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