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10 Cities That Will Give You the Best ROI If You Renovate a Fixer-Upper

felixmizioznikov / Getty Images/iStockphoto
felixmizioznikov / Getty Images/iStockphoto

Buying a fixer-upper is more of a hassle than buying a turnkey property, but if you are looking for a good investment opportunity, the time and energy you put into renovating can be worth it — if you know where to buy.

Frontdoor found the most profitable major cities to buy a fixer-upper by analyzing the median size and price of homes listed as a “fixer-upper” on Zillow and then using Kukun’s home remodeling cost estimator to find the likely cost, added value and profit margin of renovating. Cities were ranked based on the value added to the home relative to the cost of renovations.

Based on this analysis, these 10 cities provide the best ROI for renovating a fixer-upper.

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

Miami

  • ROI on renovating a fixer-upper home: 17.67%

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©Shutterstock.com
©Shutterstock.com

Charleston, South Carolina

  • ROI on renovating a fixer-upper home: 17.38%

frankpeters / Getty Images
frankpeters / Getty Images

Los Angeles

  • ROI on renovating a fixer-upper home: 17.19%

Ron_Thomas / Getty Images/iStockphoto
Ron_Thomas / Getty Images/iStockphoto

Long Beach, California

  • ROI on renovating a fixer-upper home: 16.95%

DenisTangneyJr / Getty Images
DenisTangneyJr / Getty Images

San Jose, California

  • ROI on renovating a fixer-upper home: 16.91%

MattGush / Getty Images/iStockphoto
MattGush / Getty Images/iStockphoto

Anaheim, California

  • ROI on renovating a fixer-upper home: 16.88%

DenisTangneyJr / Getty Images/iStockphoto
DenisTangneyJr / Getty Images/iStockphoto

Santa Ana, California

  • ROI on renovating a fixer-upper home: 16.81%

DenisTangneyJr / iStock.com
DenisTangneyJr / iStock.com

Scottsdale, Arizona

  • ROI on renovating a fixer-upper home: 16.63%

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

San Francisco

  • ROI on renovating a fixer-upper home: 16.6%

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

St. Petersburg, Florida

  • ROI on renovating a fixer-upper home: 16.37%

Data is sourced from Frontdoor and is accurate as of June 21, 2024.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 10 Cities That Will Give You the Best ROI If You Renovate a Fixer-Upper