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Real estate data company Attom has released a new report identifying U.S. counties where house fins have caused the largest homicides of 2022.
Flipping, as anyone who watches TV surely knows, involves buying, (usually) renovating, and then reselling a home with the hope of making a profit.
Flipping can be lucrative. Attom, reviewing data from about 400,000 properties, found that gross profit — the difference between the median price paid by investors and the median selling price — was $67,900 in 2022.
However, keep in mind that real estate in many of the counties listed below can be very expensive. Pinball profits are shrinking and annual profit margins are at their lowest since 2008. The return on investment for these flips fell to 26.9% in 2022 — down from 32.6% in 2021 and 41.9% in 2020.
As Attom explains: “[t]The median value of the homes they flipped increased more slowly than the median price they paid to buy homes — 12% versus 17%.”
Below are the median wins on a home flip in 2022 in each of the 10 U.S. counties where flipping paid the most. We end with the county where flipping was the most lucrative.
10. Fauquier County, Virginia
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Average profit made by flipping a house in this county: $250,000 in 2022
Fauquier County is only 45 minutes from the hustle and bustle of Washington, DC, but with its horsey, rural, and small-town vibe it could be a world away.
The annual median household income here is more than $111,000. The county has a population of about 75,000, of which about 38% have a bachelor’s degree or higher, according to the US Census Bureau.
Notable events on a local tourism destination’s calendar include horse and pony shows, twilight polo games, fox hunts, horse racing and wine tastings at some of the county’s 27 wineries and vineyards.
9. Washington County, Pennsylvania
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Average profit made by flipping a house in this county: $252,472 in 2022
The Washington County Department of Parks and Recreation oversees 5,500 acres of parkland with biking, horseback riding and hiking trails, picnic shelters, recreational programs, fishing and hunting.
The county’s population is more than 200,000 and includes 32% with a college degree, according to the US Census Bureau.
8. Santa Clara County, California
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Average profit made by flipping a house in this county: $252,500 in 2022
Santa Clara County (the county seat is San Jose) is an area known as Silicon Valley. Pioneering electronics companies including Xerox, Intel, Fairchild Semiconductor and Apple Computer are just a few of the tech giants that emerged from this county in the second half of the 20th century.
Today, 54% of the county’s 1.9 million residents have a bachelor’s degree or higher, according to the US Census Bureau.
7. Kauai County, Hawaii
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Average profit made by flipping a house in this county: $254,876 in 2022
The island of Kaua’i is the fourth largest of Hawaii’s eight main islands. Even here in paradise, the county government has to pave roads, fight fires, collect taxes, build and manage parks, and attend to other community responsibilities.
Kaua’i County, which encompasses the entire island, also has its own film commission.
6.Monroe County, Fla
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Average profit made by flipping a house in this county: $260,000 in 2022
Speaking of paradise, Monroe County, Florida is home to the legendary Florida Keys, a chain of islands that runs southwest from the southern tip of the Florida Peninsula to Key West, the county seat.
Like Kaua’i, Monroe County is a stunning and familiar place for fans of movies and TV shows like Bloodline, The Fast and the Furious, and Humphrey Bogart-Lauren Bacall’s classic film Key Largo.
5. County of Sussex, Delaware
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Average profit made by flipping a house in this county: $298,108 in 2022
Sussex County is on the easternmost coast of Delaware; It is part of the Delmarva Peninsula, separated from mainland Delaware and Maryland by the Chesapeake Bay.
Known as a summer mecca, Rehoboth Beach (pop. 1,400) is located in Sussex County.
4. Marin County, California
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Average profit made by flipping a house in this county: $300,000 in 2022
Marin begins at the northern border of San Francisco County. It stretches north and includes 70 miles of open shoreline and 40 miles of inland shoreline along the San Francisco Bay.
According to the University of California Cooperative Extension, literally half (50% or 167,000 acres) of the land in Marin County is used for farms or ranches.
3. Loudon County, Tennessee
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Average profit made by flipping a house in this county: $325,900 in 2022
Loudon County, with a population of approximately 58,000, is located southwest of Knoxville in the Tennessee River Valley.
The area is rich in Civil War history, and the city of Loudon is a stop on the Civil War Trail of Tennessee and the Appalachian Quilt Tour, according to the Tennessee River Valley tourism website.
2. Frederick County, Maryland
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Average profit made by flipping a house in this county: $343,362 in 2022
The City of Frederick, the county seat of Frederick County, has made numerous Best Places lists. The local tourism council notes a “growing number” of microdistilleries, hikes (including access to the Appalachian Trail), paddling (by canoe or kayak), and festivals, all within an hour of Washington, DC, Baltimore, and Gettysburg . Pennsylvania.
1.San Mateo County, California
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Average profit made by flipping a house in this county: $350,000 in 2022
San Mateo County is located on the San Francisco Peninsula, which connects San Francisco to the north with San Jose to the southeast and hugs the shores of both San Francisco Bay and the Pacific Ocean.
In this affluent county — the average household income in 2021 was $136,837 — 52.5% of the more than 729,000 residents have a bachelor’s degree or higher, according to the US Census Bureau.
