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Pennsylvania is the 33rd LARGEST STATE, 5th most populous, and 9th most densely populated state in the United States, with Philadelphia and Pittsburgh being the most populous cities. Pennsylvania’s economy is driven by its large urban manufacturing centers and large agricultural industry.
Pennsylvania was ranked 23rd overall in agricultural production in 2021, and as a result, this industry was able to acquire nearly 600,000 jobs in this field recently. Gambling is also a growing industry in Pennsylvania as well. Casino gambling was legalized in 2004, and there are now 14 casinos across the state which have been helpful for the growing economy.
With large cities like Philadelphia and Pittsburgh, there are always new employment opportunities which make it ideal for real estate investment. For PA in 2022, the home flipping rate (% of total sales) has increased to 9.6%. The average fix and flip gross profit from these deals was $78,000. The gross return on investments (ROI) was 78.9% on average. As of 2022, about 1 in every 1,038 housing units have been foreclosed, making Pennsylvania the 20th highest in the nation. This further contributes to greater flipping opportunities.
ROI-OFF MARKET PROPERTIES has been providing wholesale real estate to investors in Pennsylvania mainly, Pittsburgh for over 8 years. Our team is well versed and experienced in the Pennsylvania real estate investment market and is ready to help you to move forward in your business.