Best Areas to Invest in Rhode Island
Are you looking to buy an investment property in Rhode Island and Southern Massachusetts? There are many advantages to doing so!
Before you can invest in a property, however, you need to ensure that you’re buying in the right locations. Investing in the right neighborhood will allow your property to appreciate in value over time. It will also make it easier to land excellent tenants and generate passive income if your rental is located in a highly highly-after region.
The best neighborhoods to live in can vary depending on individual preferences and priorities. Here are some general advantages of living in each of the following places in Rhode Island and Massachusetts:
Attleboro
Attleboro, Massachusetts, offers a combination of good schools, proximity to the job markets in Boston, and a pleasant quality of life with close proximity to parks and recreational activities. This makes it an attractive place for real estate investors and they can market rentals to those looking for suburban living with proximity to the amenities of larger cities.
Warwick
Warwick, Rhode Island, offers investors a diverse range of housing options, access to the city’s amenities and those of nearby cities, and the convenience of living near T.F. Green Airport. These attributes collectively make Warwick a desirable place to invest in, especially for those who appreciate coastal living and admission to transportation and urban amenities.
Cranston
Cranston, Rhode Island, offers residents an excellent school system, a wealth of well-maintained parks and recreational facilities, access to shops and restaurants, and the convenience of being closely situated in Providence.
These factors make Cranston, RI an excellent place for a real estate investment, particularly for those looking for quality education, a variety of outdoor activities, and access to both local and city amenities.
Foxboro
Foxborough, Massachusetts, offers the excitement of being home to Gillette Stadium, a peaceful suburban lifestyle, access to good schools, and the convenience of living near Patriot Place, a shopping and entertainment complex. Investors can market their property to a number of tenants, particularly sports enthusiasts, and those who appreciate a tranquil yet well-connected suburban environment.
East Side-Providence
the East Side of Providence, Rhode Island, is characterized by its historic buildings and charming neighborhoods, proximity to prestigious educational institutions like Brown University and RISD, a rich array of cultural attractions, museums, art galleries, and theaters, and an excellent dining scene.
These features collectively make it appealing for those who appreciate a blend of history, culture, education, and culinary delights in a vibrant and historic urban setting.
North Attleboro
North Attleboro, Massachusetts, provides residents with small-town charm and a strong sense of community, access to quality education, recreational opportunities like World War I Memorial Park, and convenient access to both Attleboro and other cities.
Real estate investors should consider North Attleboro as you can market to those seeking a close-knit community with easy access to urban amenities and services.
Providence
The area is Rhode Island’s capital and is characterized by its rich cultural and artistic scene, a concentration of prestigious universities and colleges, a diverse array of dining and entertainment options, and a strong local economy with access to top-tier healthcare services.
These factors collectively make Providence, RI a dynamic and culturally enriched city, appealing to those interested in art, education, culinary delights, and a thriving urban environment.
North Providence
North Providence, Rhode Island, provides residents with easy access to the amenities and opportunities found in the nearby area of downtown Providence. It also offers good school system, which is essential for families, and acess to parks and recreational facilities that promote outdoor activities and a healthy lifestyle.
These factors collectively make the region a desirable place to live, especially for those who appreciate suburban living with access to urban amenities, quality education, and recreational opportunities.
Pawtucket
Pawtucket, Rhode Island, offers an attractive blend of affordability, cultural richness, transportation convenience, and a growing artistic community. These factors make it an enticing destination for individuals and families seeking a balanced urban-suburban lifestyle with access to a wealth of cultural and artistic opportunities.
Johnston
Johnston, RI, provides its residents with easy access to shopping and dining, recreational opportunities in Johnston Memorial Park, and the benefits of living near the vibrant city of Providence. This combination of amenities makes Johnston an attractive choice for individuals and families seeking a balance between suburban living and the accessibility of urban conveniences and cultural experiences.
Lincoln
Lincoln, RI, offers a unique blend of rural charm, quality education, access to recreational activities, and the convenience of proximity to neighboring towns. This makes it a sought-after location for individuals and families who appreciate the tranquility of rural living while enjoying the amenities and opportunities typically associated with suburban and urban areas.
Smithfield
Smithfield, RI offers residents the beauty of scenic landscapes, quality education, access to recreational activities, and the convenience of being near other urban centers. This combination of natural beauty and accessibility to urban amenities makes Smithfield an attractive choice for those seeking a peaceful, rural environment without sacrificing the convenience and opportunities associated with city living.
Bottom Line
There are many excellent neighborhoods to consider buying in when making a real estate investment. It’s, however, essential to research each area thoroughly and consider what factors are most important to you and your target tenant demographic. You must also consider how you plan to manage your investments.
If you would like help managing your rental properties in Rhode Island and Southern Massachusetts consider contacting the experts at Lyon Property Management today! We offer full-service property management solutions to ensure that your rental operations yield the best results.