So, you’re thinking of fixing and flipping that 1920s shack you found in Oakland for $250,000? Think you’re gonna turn a big profit on that flip and cash in like they do on TV? Think again.

  • The highest average ROI comes from PIttsburgh, Pennsylvania for fix and flips.
  • San Francisco, New York, and Washington, D.C. rank the highest in terms of walkable access parks.
  • Texas cities offer the lowest return on investment for fix and flips.

So, you’re thinking of fixing and flipping that 1920s shack you found in Oakland for $250,000? Think you’re gonna turn a big profit on that flip and cash in like they do on TV? Think again.

WalletHub, an online financial advisor that also happens to check credit scores, found the best places in the country to rehab a home to turn the best profit.

The goal wasn’t necessarily to rank 150 of the most populated markets on specific criteria: house-flipping market potential, renovating and remodeling costs, and quality of life — all of which had maximum scores of 35.

Source: WalletHub

Under each of the three categories were specific points used to quantify data: average gross ROI, median purchase price, percentage of home flips, home turnover rate, housing-market health index, average sale-to-list price ratio and number of real estate agents per capita.

Also factored into scoring was average kitchen, bath, home remodel costs, average construction worker salary, crime rate, walkable park access, median salary, job growth, GreatSchools city score, unemployment and WalletHub’s “Fastest Growing Economies” rating.

The best and worst cities to fix and flip

In terms of highest average gross ROI, Pittsburgh, Pennsylvania, ranked as the best place to flip a home, WalletHub says. The home of the Steelers averaged 129.1 percent return on investment. New Orleans came in at no. 2, followed by Philadelphia, Pennsylvania, Cincinnati, Ohio and Baltimore.

The lowest average return on investment for flips came from cities located in Texas, according to the report. Dallas, Fort Worth, Arlington, Plano and Garland all tied for no. 119, with Austin sitting alone at the no. 126 spot.

Homes with the lowest median purchase price were in Cleveland, the report says, where the number is $45,000. This is nearly 13 times lower than San Jose where median purchase prices were $580,000. San Francisco tied with San Jose for the highest median purchase price.

Miami tied Seattle, Oklahoma City, Atlanta, Tulsa and Orlando for the most real estate agents per capita. Orlando had the most agents, at 171.54 real estate agents per 100,000 people.

Cheap bathrooms and expensive kitchens

Out of the 150 markets ranked, San Francisco sat at no. 147 when it comes to affordable kitchen renovations. The cheapest place to renovate a kitchen was in Mobile, Alabama, according to the report. In Newark, New Jersey, the average kitchen remodel was $56,108 — the highest in the country.

New York City, Los Angeles and San Francisco all ranked 146, 147 and 150 when it comes to remodeling a bathroom. Plumbers and contractors in San Francisco pulled an average $24,506 to remodel a bathroom, the report says.

Just another walk in the park

San Francisco, NYC and Washington D.C. took the top three spots in terms of percentage of population with walkable access to parks.

Email Britt Chester

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription