WORCESTER – In a recent report from the data experts at Wallethub, Worcester ranks among the worst cities in America to flip houses.
However, the report — 2018’s Best Places to Flip Houses — ranks Worcester #10 of 172 cities for real estate market potential.
According to the report, Worcester ranked behind only Columbus, GA;,Baton Rouge, LA; Missoula, MT; Shreveport, LA; Memphis, TN; Baltimore, MD; St. Louis, MO; Birmingham, AL; and Cleveland, OH.
Among the measurements used to determine Worcester’s market potential, Wallethub measured the Average Gross Return on Investment (ROI), Percentage Change in Gross ROI of Flipped Homes (2017 vs. 2016), the median purchase price of homes, and the average days it takes to flip a home, among several other indicators.
Worcester’s poor ranking among cities to flip homes in is attributed to, according to the report, the renovation and remodeling costs assumed to flip a home in the city (#153) and the city’s quality of life (#120).
To see how Worcester ranks against other cities in New England and across the country, scroll the map below: