BECKLEY (WVNS)– Beckley has been ranked in the top five cities with the strongest ROI in the United States.
One question you may be asking yourself is “what is ROI?” According to Investopedia, ROI stands for Return on Investment, which is a metric to help calculate profitability in an investment. The way to calculate this investment is to take the return of the investment, then divide that by the cost of the investment. Beckley is ranked fourth in the nation for having the strongest ROI.
Agent Advice analyzed home values and discovered that Beckley has a typical property value of $116,252, which is 36% of the national average value of $319,325. Rent in Beckley averages up to $1,000, the equivalent of 0.86% of property value. This is 62% more than the average national proportion of 0.53%. All this makes the potential down payment payback period two years, which is 40% shorter than the national average.
This makes Beckley a great place to invest in real estate. The low cost of property value helps make it more affordable to invest in.