If you are considering investing in property in Mason City, I’m guessing you’re like most people and have probably heard of the explosive growth in population that has occurred over the past decade. Or perhaps you have already noticed the growing number of construction projects downtown and are looking to find out more information. Whatever your reason is, it’s undeniable that owning real estate in Mason City provides a great return on investment.
Whether you’re just getting started in your investing career, or you’re a seasoned investor, properties can be expensive. That’s why it’s so important to learn how to find and analyse the most profitable properties to buy. To understand how to do this, you need to know all of the different costs that come into play with buying and managing a property in Mason City, IA. JaneFisher & Associates is the best innovative real estate team in Mason City, Clear Lake, and North Iowa. Jane Fisher always strives to provide a good environment at a low price, you can visit here houses for sale in mason city . However, let’s jump into our article.
The city is prospering
Mason City has been experiencing a period of growth in recent years. The city’s population has increased by 7.5% over the last five years, and it is forecast to continue growing by approximately 6% per year. This is due in part to a strong economy and low unemployment rate, which was 3.4% in May 2018 – well below the national average of 4%.
The median family income in Mason City is just over $56,000 per year – which is above the national average. It also has an excellent school system that ranks among the best in Iowa (the state ranks 6th).
Property values have been steadily increasing over the past few years, with most areas seeing a 10% increase or more each year. This includes both residential and commercial properties – which means that investors can expect stable returns on their investment as long as they buy at the right time and price their property correctly.
Taxes are low
Taxes are low. Property taxes in Mason City are very low compared to other areas of Iowa. For example, the average effective property tax rate in Mason City is 0.71%. This means that if you have a $100,000 home, you will pay $71 per year in property taxes on that home. Compare this to Des Moines (1.12%) or Cedar Rapids (0.80%), and you’ll see that Mason City offers some of the lowest property taxes in Iowa.
Home values are growing at a steady rate. According to Zillow, the median home value in Mason City has increased by 3% since 2018 and is expected to continue rising at a similar pace through 2021. This is great news for anyone who has invested in real estate here because it means your money can grow over time as well as provide an income stream from rental properties or Airbnb rentals.
It’s close to big cities but not too close! You can be anywhere from 45 minutes to 5 hours away from major metro areas like Des Moines, Minneapolis/St Paul and Chicago depending on where your home is located within Mason City limits but once you’re there there’s so much more than just
Crime is low
Mason City has one of the lowest crime rates in the state of Iowa. A study by the Iowa Department of Public Safety ranked Mason City as having one of the lowest murder rates and highest burglary rates in Iowa. This means that you can feel safe living in Mason City and not worry about being robbed or murdered.
Unemployment is low
The unemployment rate in Mason City, IA is currently at 3.9%. This number is well below the national average of 5.0%. The unemployment rate in Mason City is also significantly lower than that of Iowa, which sits at 4.2%.
The low unemployment rate in the Mason City area is a strong indicator that the economy is stable and provides potential home buyers with job security.
Mason City’s population has remained relatively stable since 2010. This means that there are plenty of homes available for sale in this area, which can help you find a great deal on a property. The median household income for Mason City residents was $45,000 in 2017, which was nearly $10,000 higher than the U.S. median household income at the time of $36,000. Mason City residents have an average credit score of 703 and they pay an average interest rate of 4% on their mortgage loans
Home prices are still rising!
Home prices are still rising! The S&P Core Logic Case-Shiller National Home Price Index showed that home prices grew by 5.3% in the 12 months ending in October 2018. That’s great news for homeowners and investors alike. Rising home prices mean more equity in your home, which means more money down the road if you sell it someday.
Property appreciation is outpacing stock market returns! The U.S. stock market has been on a roller coaster ride since 2008, but the S&P 500 has returned an average annualized return of 9.7% over the last decade (as of this writing). While that’s good, it’s far from great when compared to property appreciation rates over the same period: from 2007 to 2017, homes appreciated at an average annualized rate of 7%. And while some areas have seen much higher growth than others, there’s no doubt that real estate outperforms stocks over time. We just don’t know how long “over time” will be because it depends on so many factors such as location and market conditions (both)
It’s a beautiful place to live
This is a beautiful place to live. It’s quiet, there are plenty of trees, and it’s a friendly town. The people here are friendly, but they also have their own lives. People don’t bother each other too much, which is nice.
Mason City is a great place to raise a family. There are plenty of activities for kids and families to do together. You can go hiking or biking at the local parks, or go swimming in the beaches on Lake Mason. There are also many museums and theater groups that put on shows throughout the year.
The cost of living in Mason City is lower than most other cities in the United States, so it’s easy to save money here!
Conclusion
After spending a great deal of time getting in-depth research on this particular part of the city, and getting a real feel for how central it is to the entire Mason City area, there’s no denying that this is an excellent place to buy property. If you are interested in investing in Mason City property, then you would be wise to look at the above properties. Each one offers something different and appealing, so make sure to consider what each one has to offer before making your final choice!