Why Invest in Winston-Salem, North Carolina?

What makes Winston-Salem, NC Appealing to Investors? 

Winston-Salem is a small city located in the Piedmont region with an estimated population of 253k and a Metro estimate of 695k. You may also know Winston-Salem for its historic involvement in RJ Reynolds’s tobacco company.

Now, how is this small town a hidden gem for investors?

There are several factors:

Large Student Market:  Winston is home to several universities- Winston-Salem State University, Salem College, University of North Carolina School of the Arts, and Wake Forest University/ Wake Forest University School of Medicine. This attracts a sizable population of renters and results in a steady demand for rental properties in the region. Specifically, the areas near Wake Forest Medical School and Wake Forest Baptist Medical Center have attracted investors, as students are seeking rentals during residency.

Favorable Tax Laws:  North Carolina boasts relatively low tax rates compared to many other states, with property taxes averaging at 0.70%, which is below the national average. Unlike some states, North Carolina does not impose a state property tax, leaving the determination of tax rates to local governments. For instance, in Winston-Salem, located in Forsyth County, the current average tax rate is 0.980%.

Affordable Property: In contrast to other Metropolitan areas in North Carolina, Winston-Salem presents comparatively affordable property prices. This affordability presents investors with a distinct opportunity to enter the market without significant financial strain. The average home price in Winston-Salem currently is about $253k, depending on other factors as well.

Bottom line- In any location, there’s always a degree of financial risk to consider, but Winston-Salem stands out as an affordable and welcoming city for investors, making it an ideal starting point for those venturing into out-of-state investments. The city’s strong educational and medical sectors make it a prime investment hub.

Feel free to reach out if you’d like additional information about Winston-Salem and the investment opportunities it offers!