Over the past decade, the American cityscape has evolved dramatically. The speed of this transformation isn’t just seen in towering skylines or burgeoning populations but more so in the economic prosperity of its residents. Some cities, like Enterprise in Nevada and Kirkland in Washington, have rapidly climbed the ladder of growth due to their strategic locations, job opportunities, and unparalleled quality of life.
Empty plots of land across the Town of Hempstead are identified as having the most promising return on investment (ROI), as surveyed by 3,000 real estate investors.
The real question for savvy investors is identifying the next real estate hotspots. To shed light on this, Moving Feedback surveyed 3,000 prospective real estate investors with a hypothetical question:
“Which city would you stake your savings on an undeveloped one-acre plot?”
Their findings, dubbed the ‘Empty Plot Index’, spotlighted the top 200 U.S. real estate gems. Notably, Florida and Texas cities held a strong presence in the top 10.
#1 Tampa, FL
Earning the top spot, Tampa is more than a city in expansion; it’s one sculpting its future. Investments in cutting-edge infrastructure, premier public services, and community endeavors make land in Tampa more than just a purchase; it’s a golden ticket to a city on the rise.
#2 Austin, TX
Dubbed the world’s live music mecca, Austin’s allure extends beyond tunes. A potent blend of technological advancements, healthcare growth, and vibrant entertainment scenes make it a magnet for settlers and investors alike.
#3 Knoxville, TN
As East Tennessee’s crown jewel, Knoxville, which clinched third place, prides itself on top-tier educational establishments, cultural hubs, and an elevated standard of living, promising multifaceted development prospects for vacant land.
#4 Kissimmee, FL
Holding the fourth spot, Kissimmee isn’t merely a tourist’s paradise. The city’s enticing climate and commitment to progress beckon many to establish lasting roots, presenting a ripe landscape for real estate visionaries.
#5 North Las Vegas, NV
Tied closely to the growth of the larger Las Vegas area, North Las Vegas promises lucrative land investment avenues, courtesy of its diverse economy and dedication to quality living.
#6 Charlotte, NC
Christened the “Queen City,” Charlotte’s soaring population and robust economy promise potential investors not just land but a foothold in a dynamically advancing city.
#7 Hempstead, NY
The lone northern city in the top 10, Hempstead isn’t just about New York City proximity. Its multi-sectoral economy and focus on infrastructure position it as a hotbed for innovative real estate projects.
Hempstead is a vibrant and diverse township in Nassau County, known for its rich history and significant role in the early development of Long Island. As one of the three townships in Nassau County, Hempstead boasts a mix of bustling residential communities, commercial developments, and picturesque parks, which encompasses the majority of towns and villages from the eastern border of Queens to the western border of Suffolk counties and everything from the ocean’s edge to a spillover on Hempstead Turnpike. The town’s combined population was 793,409 at the 2020 census, which is the majority of Nassau County’s population and makes it, by far, the largest population of any town in the United States. It is home to Hofstra University, a major driver of cultural and educational activities in the region. The township boasts a variety of neighborhoods, each with its own character, from the serene, beachfront settings of Point Lookout to the historic streets of Old Hempstead. With its convenient access to New York City and comprehensive public services, Hempstead offers a blend of suburban comfort and urban accessibility.
#8 Phoenix, AZ
Overcoming its water challenges, Phoenix, an emergent economic powerhouse, beckons investors with its vast developmental potential across residential and commercial segments.
#9 San Antonio, TX
Marked ninth, San Antonio, a fast-growing urban behemoth, promises investors a blend of robust economic growth and cultural vitality.
#10 Edinburg, TX
Positioned in the Rio Grande Valley, Edinburg entices with its diversified economy and continuous efforts in enhancing infrastructure and community offerings.
“Our research sheds light on the dynamic nature of the real estate market” Harrison Gough of Moving Feedback said, reflecting on the findings. “It’s noteworthy to see how different cities are shaping up as potential hubs. These patterns could be instrumental in understanding broader economic and societal shifts across the nation.”
New York had FOUR other entries in the ‘Empty Plot Index’:
#87 Buffalo
Buffalo, situated in western New York along the Great Lakes, has been in the midst of a transformation with substantial investments in infrastructure, public spaces, and community development. The city’s economy is well-diversified, with strengths in healthcare, education, manufacturing, and logistics, providing a stable economic foundation and a range of job opportunities. Buffalo boasts a mix of historic architecture, cultural attractions, and natural beauty. It has been focusing on revitalizing neighborhoods, enhancing its waterfront, and fostering a lively arts and dining scene. Investing in land in Buffalo opens doors to various development prospects, including residential projects in revitalized neighborhoods, commercial spaces to support local businesses and startups, and recreational facilities to leverage the city’s scenic location along Lake Erie.
#107 Utica
Investing in a 1-acre vacant lot in Utica offers a promising opportunity due to the city’s affordability, potential for revitalization, and strategic location in Central New York. Utica, situated in the Mohawk Valley, has been actively working on revitalizing its economy and urban areas. Its diverse economy, with strengths in healthcare, education, manufacturing, and technology, provides a stable foundation and employment opportunities. Compared to larger cities in New York State, Utica boasts a lower cost of living, making it appealing to residents seeking affordability. The city’s investments in infrastructure, public services, and community development enhance its overall appeal to residents and businesses.
#114 Mount Vernon
Located just north of the Bronx in Westchester County, Mount Vernon provides suburban living with easy city access. The city’s economy spans healthcare, education, and retail, offering stability and job opportunities. Mount Vernon’s unique blend of culture, historic architecture, and green spaces is complemented by ongoing revitalization efforts and infrastructure improvements. The land is versatile and suitable for residential, commercial, or revitalization projects.
#123 Schenectady
Situated in upstate New York, Schenectady’s recent resurgence, driven by investments in technology, healthcare, and higher education, has diversified its economy. Key sectors include manufacturing, healthcare, and renewable energy, offering stability and employment prospects. Schenectady boasts cultural amenities, historic sites, and proximity to institutions like Union College.
—Moving Feedback (www.movingfeedback.com) with additional reporting by Christy Hinko
