8 US Cities Where Home Flips Pay Off Big

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Flipping homes successfully is even more challenging than it used to be as rising mortgage rates have squeezed profits nationwide. A new Realtor.com report found that the median flipped home was bought for roughly 51% of the market median — but flipped homes were still priced at 88% of the market median even after renovation.

However, in a handful of U.S. cities, renovated homes are still commanding prices above the local median. Here’s where flipping still pays off.

1. Pittsburgh

• Pre-flip purchase price compared to median listing price (%): 48.1%
• Post-renovation listing price compared to median listing price (%): 106.3%
• Flip factor: 58.2 percentage points

2. Cape Coral-Fort Myers, Florida

• Pre-flip purchase price compared to median listing price (%): 60.6%
• Post-renovation listing price compared to median listing price (%): 105.9%
• Flip factor: 45.3 percentage points

3. Seattle-Tacoma-Bellevue, Washington

• Pre-flip purchase price compared to median listing price (%): 64.5%
• Post-renovation listing price compared to median listing price (%): 101%
• Flip factor: 36.5 percentage points

4. Denver-Aurora-Centennial, Colorado

• Pre-flip purchase price compared to median listing price (%): 65.7%
• Post-renovation listing price compared to median listing price (%): 100.3%
• Flip factor: 34.5 percentage points

5. Phoenix-Mesa-Chandler, Arizona

• Pre-flip purchase price compared to median listing price (%): 67.4%
• Post-renovation listing price compared to median listing price (%): 102%
• Flip factor: 34.5 percentage points

6. Los Angeles-Long Beach-Anaheim, California

• Pre-flip purchase price compared to median listing price (%): 69.2%
• Post-renovation listing price compared to median listing price (%): 101.4%
• Flip factor: 32.1 percentage points

7. San Francisco-Oakland-Fremont, California

• Pre-flip purchase price compared to median listing price (%): 72.5%
• Post-renovation listing price compared to median listing price (%): 104.5%
• Flip factor: 32 percentage points

8. San Diego-Chula Vista-Carlsbad, California

• Pre-flip purchase price compared to median listing price (%): 75.2%
• Post-renovation listing price compared to median listing price (%): 105.5%
• Flip factor: 30.3 percentage points

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