Destination demand and tourism has always shown to be a strong insight into emerging market top rankings. A town in Northern Indiana made the list at number one, leaving many wondering how this is the case. After further review, it seems that the town Elkhart-Goshen in Northern Indiana is not only the top emerging Real Estate market in America but also the R.V. Capital of the world. To make things even crazier, a majority of the towns GDP comes through its production of recreational vehicles which are sold globally.
Due to its successful corporation structure which includes companies such as: Jayco, Keystone, & more — the area has one of the nations lowest for unemployment as just 1.6%. The economic boom in the area has made the median home value skyrocket up almost 18% in the last 12 months. Experts believe that the area is due to continue to grow year or year as the recreational transportation industry holds strong bringing more jobs & development to the area.
The idea of an emerging market isn’t just upside for home-price value growth, instead it includes attractive amenities. As Elkhart-Goshen continues to grow through its economic development so will investors. Investors are sure to bring amazing concepts in food & beverage, multi-family, & many other valuable goods and services to the area. With demand already set due to a strong work force economy, look for Elkhart-Goshen home price values to continue to increase in the following years to come.
This post is based on the opinion of writers at Real Estate Today