Austin, Texas

Pulsing with music, art, and culture, Austin has been drawing new residents from all across the country at a rapid rate. Its hip vibe is being bolstered by a young crowd: Residents aged 15 to 34 make up nearly one-third of the population, and this group is expected to increase by more than 20 percent in the next 5 years. The overall population is on track to grow 2.8 percent in 2018, far above the U.S. average. (That translates to around 42,000 new residents per year for the next five years.)

On average, residents spend 19.9 percent of their income on rent, well below that of many other major U.S. cities—making the trendy, start-up-friendly city a top pick for those who want to get more bang for their buck and enjoy a better standard of living. There’s a positive outlook for all property sectors, especially single-family and multifamily housing.