Flipping fever? New Orleans ranks among best cities in the country for flipping houses

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NEW ORLEANS (WGNO) – Post-Katrina New Orleans has been a boom for real estate developers and house-flippers, even after 11 years.

A new study from financial website WalletHub agrees. It lists New Orleans as No. 8 in the country for best places to flip houses, and No. 2 in the country for highest average gross return on investment.

The analysis compared the 150 largest cities based on 19 key metrics, ranging from “median purchase price” to “average full home remodeling costs” to “housing-market health index.”

The average gross profit of flipping a house in America is $55,000, according to WalletHub.

Here are the cities that made it to the top 10:

  1. Sioux Falls, SD
  2. Fort Wayne, IN
  3. El Paso, TX
  4. Oklahoma City, OK
  5. Lincoln, NE
  6. Lubbock, TX
  7. Tampla, FL
  8. New Orleans, LA
  9. Boise, ID
  10. Laredo, TX

Read the full report here.

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