Atlantic City real estate a good investment, projections find

Atlantic City is second when it comes to the most attractive cities to buy real estate in the next decade, according to a look at the numbers by GOBankingRates.

The city's real estate is expected to increase by 4 percent in a year, more that 2.3 times the anticipated national average of 1.7 percent, GOBankingRates reports.

They are anticipated to be more than 20 percent above the national average by 2033.

Only Columbia, Missouri, is expected to see a bigger jump at 6.4 percent in a year and about 50 percent by 2033, the publication reports.

In determining which are the most attractive cities in which to buy real estate over the coming decade, GOBankingRates looked at homes currently priced below the national median of $333,910 with anticipated growth rates in excess of the projected 1.7 percent national rate.

GOBankingRates offered the context that, while home prices do not move in a linear fashion, but the anticipated one-year growth rate was used primarily to identify housing markets that are moving in the right direction.

Last March, median home values in Atlantic City were $325,013, with the projected 2025 value set at $351,534. By 2033, tha value is anticipated to be $481,098.

GOBankingRates took the overall U.S. median home value and projected its growth over 10 years using Zillow’s March 2023-24 one-year forecast.

This projection was then compared to the projections of the 250 largest metros in the U.S. AND the metros in the Top 250 that currently have home prices below the national median, with those rising above the national median in the next 10 years being deemed “a place you’d wish you bought.”

For each metro over the next decade, GOBankingRates found the following factors:

1. Year the metro will become “affordable.”
2. Projected home value for that year.
3. U.S. average projected home value for that year.

GOBankingRates NOTE: GOBankingRates does not expect growth in home value to stay stagnant at one current rate for the next decade, but using these constant figures gives us an idea where certain markets are heading without unforeseen market disruptors in the future. All data used to conduct this study was compiled and verified on May 3, 2023.