Best Places to Be a Real Estate Agent

Adam McCann, WalletHub Financial WriterMay 12, 2021

Adam McCann, WalletHub Financial Writer
May 12, 2021

“Location, location, location” might be the catchphrase of the real-estate profession, but it applies just as much to realtors as it does to their clients. After all, success in the industry hinges on both an agent’s work ethic and area of operation.

The current real estate market is difficult for buyers, because even though interest rates are low, inventory is down by more than half compared to last year. Certain cities are bigger hotspots than others, though. In the coming year, real-estate agents may want to relocate to places with the highest demand for housing, and that pay the best for their expert guidance.

To determine the best markets for this particular profession, WalletHub compared more than 170 U.S. cities across 22 key indicators of a healthy real-estate environment. Our data set ranges from sales per agent to annual median wage for real-estate agents to housing-market health index. Read on for our findings, advice and insight from experts, and a full description of our methodology.

Table of Contents

Main Findings

Embed on your website

Best Cities for Real-Estate Agents

Overall Rank	City	Total Score	Job Opportunity & Competition	Real-Estate Market Health
1	Seattle, WA	59.40	1	43
2	Pearl City, HI	58.65	7	14
3	Sacramento, CA	57.17	9	10
4	Salt Lake City, UT	56.78	20	5
5	Denver, CO	56.44	6	51
6	Nashville, TN	55.80	17	12
7	Washington, DC	55.13	2	116
8	Huntsville, AL	54.67	35	6
9	Austin, TX	54.50	48	7
10	San Jose, CA	54.30	3	134
11	Vancouver, WA	53.98	24	24
12	Reno, NV	53.52	78	2
13	West Valley City, UT	53.05	44	21
14	Billings, MT	52.87	31	9
15	Portland, ME	52.86	40	23
16	Portland, OR	52.79	18	44
17	San Diego, CA	52.69	10	72
18	Atlanta, GA	52.60	16	53
19	Boston, MA	52.47	4	145
20	Irvine, CA	52.17	15	66
21	Jacksonville, FL	52.12	11	75
22	Overland Park, KS	52.11	47	28
23	Sioux Falls, SD	51.99	33	25
24	San Francisco, CA	51.92	8	105
25	Durham, NC	51.89	59	22
26	Charlotte, NC	51.88	57	18
26	Kansas City, MO	51.88	67	19
28	Stockton, CA	51.66	91	8
29	Virginia Beach, VA	51.42	25	65
30	Knoxville, TN	51.40	49	33
31	Manchester, NH	51.31	22	50
32	Lincoln, NE	51.00	64	16
33	Spokane, WA	50.95	42	47
34	Rancho Cucamonga, CA	50.93	26	74
35	Fargo, ND	50.82	12	81
36	South Burlington, VT	50.79	28	57
37	Missoula, MT	50.77	118	1
38	Colorado Springs, CO	50.38	14	107
39	Tampa, FL	50.23	46	60
40	Los Angeles, CA	50.19	13	114
41	Honolulu, HI	49.96	19	106
42	Omaha, NE	49.88	39	78
43	Santa Rosa, CA	49.76	53	38
44	Fremont, CA	49.69	27	92
45	Phoenix, AZ	49.54	83	32
46	Ontario, CA	49.43	84	40
47	Aurora, CO	49.38	23	110
48	Fort Smith, AR	49.14	74	36
49	St. Petersburg, FL	48.85	69	54
49	Chesapeake, VA	48.85	37	102
51	Tacoma, WA	48.76	43	93
52	Augusta, GA	48.76	30	112
53	Riverside, CA	48.73	68	67
54	Raleigh, NC	48.60	85	55
55	Port St. Lucie, FL	48.57	36	91
56	Winston-Salem, NC	48.21	52	89
57	Huntington Beach, CA	48.07	34	128
58	Fontana, CA	47.84	87	69
59	Chula Vista, CA	47.80	116	48
60	Madison, WI	47.78	81	76
61	Des Moines, IA	47.70	41	127
62	Dallas, TX	47.68	101	41
63	Scottsdale, AZ	47.68	100	45
64	Salem, OR	47.62	113	15
65	Burlington, VT	47.60	45	111
66	Tulsa, OK	47.52	50	120
67	Tucson, AZ	47.38	137	29
68	Oceanside, CA	47.36	101	68
69	Tempe, AZ	47.33	143	17
70	Charleston, SC	47.32	75	80
71	Oakland, CA	47.30	51	118
72	Tallahassee, FL	47.22	70	73
73	Chattanooga, TN	47.18	58	96
74	Columbia, MD	47.18	115	42
75	Anaheim, CA	47.12	54	115
76	Fort Worth, TX	47.09	133	27
77	Richmond, VA	46.77	73	82
78	Henderson, NV	46.77	93	85
79	Bismarck, ND	46.65	38	138
80	Columbia, SC	46.47	63	121
81	Fresno, CA	46.40	107	63
82	Santa Ana, CA	46.35	61	125
83	Moreno Valley, CA	46.33	112	70
84	Garden Grove, CA	46.25	80	99
85	Newport News, VA	46.15	88	101
86	Fort Wayne, IN	46.13	120	4
87	Las Vegas, NV	46.05	56	137
88	Cape Coral, FL	45.93	96	86
89	Worcester, MA	45.93	77	130
90	Gilbert, AZ	45.91	139	37
91	Nashua, NH	45.72	99	61
92	Milwaukee, WI	45.69	86	119
93	Peoria, AZ	45.68	145	34
94	Indianapolis, IN	45.64	103	87
95	Wichita, KS	45.39	109	84
96	Minneapolis, MN	45.34	66	140
97	Plano, TX	45.31	132	58
98	New York, NY	44.96	5	177
99	Oxnard, CA	44.93	136	71
100	Santa Clarita, CA	44.90	111	90
101	Glendale, CA	44.88	82	132
102	Irving, TX	44.73	159	35
103	Nampa, ID	44.70	169	20
104	Norfolk, VA	44.62	79	142
105	Grand Rapids, MI	44.62	21	159
106	Mesa, AZ	44.61	153	39
107	Boise City, ID	44.52	148	52
108	Long Beach, CA	44.51	95	126
109	Modesto, CA	44.38	171	11
110	Chandler, AZ	44.37	151	49
111	Cincinnati, OH	44.35	119	97
112	Pittsburgh, PA	44.34	89	141
113	Mobile, AL	44.10	114	79
114	San Bernardino, CA	44.09	142	77
115	Orlando, FL	44.04	106	122
116	Columbus, OH	44.00	127	104
117	Rapid City, SD	43.95	154	13
118	Lubbock, TX	43.93	165	3
119	Little Rock, AR	43.79	152	83
120	North Las Vegas, NV	43.77	129	100
121	Arlington, TX	43.74	150	64
122	Grand Prairie, TX	43.64	164	46
123	Montgomery, AL	43.63	105	113
124	Akron, OH	43.57	108	124
125	Glendale, AZ	43.54	157	59
126	Oklahoma City, OK	43.51	125	109
127	Gulfport, MS	43.31	110	103
128	Garland, TX	43.30	162	56
129	Warwick, RI	43.19	60	154
130	Bakersfield, CA	43.08	161	62
131	Memphis, TN	42.86	134	98
132	Springfield, MO	42.67	163	31
133	San Antonio, TX	42.65	140	94
134	Chicago, IL	42.63	32	167
135	Albuquerque, NM	42.57	126	129
136	Lexington-Fayette, KY	42.50	131	88
137	Yonkers, NY	42.44	29	170
138	Jersey City, NJ	42.21	71	155
139	St. Paul, MN	41.96	117	143
140	Anchorage, AK	41.47	55	169
141	Cleveland, OH	41.42	149	123
142	Louisville, KY	41.34	98	152
143	Birmingham, AL	41.26	155	108
144	Philadelphia, PA	41.07	62	163
145	Baltimore, MD	40.95	104	153
146	St. Louis, MO	40.43	65	168
147	Lewiston, ME	40.18	92	160
148	New Orleans, LA	40.00	168	133
149	Houston, TX	39.92	156	135
150	Cedar Rapids, IA	39.74	160	117
151	Fayetteville, NC	39.72	123	150
152	Providence, RI	39.71	94	161
153	Amarillo, TX	39.48	144	136
154	Jackson, MS	39.30	158	131
155	Miami, FL	39.16	72	172
156	El Paso, TX	39.00	173	95
157	Huntington, WV	38.97	146	144
158	Fort Lauderdale, FL	38.84	90	171
159	Laredo, TX	38.72	176	26
160	Rochester, NY	37.86	167	147
161	Greensboro, NC	37.50	138	157
162	Pembroke Pines, FL	37.41	97	173
163	Aurora, IL	37.27	128	166
164	Wilmington, DE	36.71	141	162
165	Toledo, OH	36.66	135	165
166	Bridgeport, CT	36.50	76	178
167	Hialeah, FL	36.13	147	164
168	New Haven, CT	35.92	122	174
169	Charleston, WV	35.47	121	175
170	Baton Rouge, LA	35.39	170	148
171	Columbus, GA	34.97	166	158
172	Detroit, MI	34.72	124	176
173	Buffalo, NY	34.31	175	151
174	Shreveport, LA	33.61	177	139
175	Brownsville, TX	33.44	179	30
176	Dover, DE	33.22	172	156
177	Newark, NJ	32.71	130	179
178	Las Cruces, NM	32.46	174	149
179	Corpus Christi, TX	31.64	178	146

Note: With the exception of “Total Score,” all of the columns in the table above depict the relative rank of that city, where a rank of 1 represents the best conditions for that metric category.

artwork 2021 best and worst cities to be a real estate agent

Ask the Experts

The real-estate market is often unpredictable. For advice and insight on the current market and future of the industry, we turned to a panel of experts for their thoughts on the following key questions:

Should real-estate agents feel threatened by new apps and other online tools offering services to potential homebuyers?
How can real-estate agents protect themselves from the “boom-bust” cycle of the housing market?
Real estate has always experienced ups and downs, often in line with economic cycles. What are some ways a real estate agent can adapt their strategy during the pandemic?
What tips do you have for a young real-estate agent? What does he or she need to do to get ahead in the current market?
In evaluating the best cities for real estate agents, what are the top five indicators?
How likely is it that the Federal Reserve would increase interest rates again in the coming months? How would that impact real-estate agents?
Even though COVID-19 has sent the U.S economy into recession, the housing market has boomed. How has the pandemic affected the demand for housing? What will happen to the housing market after the pandemic?

Ask the Experts

Randal Ice
Ed.D. – Barnabas Professor of Finance, College of Business – University of Central Oklahoma
Read More

Michael P. Seng
Professor of Law, Director of the Fair Housing Legal Support Center - University of Illinois at Chicago, John Marshall Law School
Read More

Philip G. Swicegood
Department Chair & James Professor of Finance – Wofford College
Read More

David Bouvin
Faculty Member, Ph.D. in Management program – Walden University
Read More

Methodology

In order to determine the best cities for real-estate agents, WalletHub compared 179 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across two key dimensions “Job Opportunity & Competition” and “Real-Estate Market Health.” Our sample considers only city proper in each case and excludes cities in the surrounding metro area.

We evaluated the two dimensions using 22 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with 100 representing the most favorable conditions for real-estate agents. Data for the metrics marked with an asterisk (*) were available at the state level only.

We then determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Job Opportunity & Competition – Total Points: 60

Sales per Agent: Full Weight (~5.45 Points)
Median Home Price: Full Weight (~5.45 Points)
Note: Real-estate agents are typically paid a commission based on the value of the home sold.
Monthly Average Starting Salary for Real-Estate Agents: Full Weight (~5.45 Points)
Annual Median Wage for Real-Estate Agents: Full Weight (~5.45 Points)
Real-Estate Employment Attractiveness: Full Weight (~5.45 Points)
Note: This metric measures both real-estate job density (number of real-estate agents per 10,000 working-age population) and competition (number of real-estate job openings per 100 résumés).
Real-Estate Employment Growth (2018–2020): Full Weight (~5.45 Points)
Annual Median Wage Growth for Real-Estate Jobs (2018–2020): Full Weight (~5.45 Points)
Unemployment Rate: Full Weight (~5.45 Points)
Projected Real-Estate Jobs Needed by 2028 per Capita*: Full Weight (~5.45 Points)
Number of Work Hours/Pre-License Work Hours Required to Get a Real Estate License*: Full Weight (~5.45 Points)
Google Search Index for “Real Estate Agents”: Full Weight (~5.45 Points)
Note: This metric measures search interest for “real estate agent,” “real estate broker,” “real estate listings,” “real estate agent near me,” “top real estate agents,” and “houses for sale.”

Real-Estate Market Health – Total Points: 40

Migration from Urban Neighborhoods During COVID-19 Pandemic: Triple Weight (~8.00 Points)
Note: This metric measures the change in migrants per 100,000 metro area residents, calculated as the difference between the flow in April to December 2020 from the average during the same months in 2017, 2018, and 2019.
Home Turnover Rate: Full Weight (~2.67 Points)
Housing-Market Health Index: Full Weight (~2.67 Points)
Note: Includes: Homes Sold for Gain; Sales Previous Foreclosed; Foreclosure Ratio; Zillow Home Value Index; Year over Year change; Stock of REOs (Homes Held by Banks); Mortgage Holders in Negative Equity; Underwater Homeowners Delinquent.
Zillow Home Value 1-Year Forecast: Full Weight (~2.67 Points)
Note: The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now.
Days on Market: Full Weight (~2.67 Points)
Average Ratio of Home Sale Price to Home List Price: Full Weight (~2.67 Points)
Building-Permit Activity: Full Weight (~2.67 Points)
Note: This metric measures the number of unit permits pulled per Capita.
Share of Home Flips: Full Weight (~2.67 Points)
Note: RealtyTrac defines a home flip as “a property that is sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data.”
WalletHub “Fastest Growing Cities” Rank: Full Weight (~2.67 Points)
Average Daily COVID-19 Deaths in the Past Week per Capita: Double Weight (~5.33 Points)
Average Daily COVID-19 Cases in the Past Week per Capita: Double Weight (~5.33 Points)

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Zillow, Indeed, Projections Central - State Occupational Projections, ATTOM Data Solutions (RealtyTrac), InvestFourMore, Google Ads, Federal Reserve Bank of Cleveland, The New York Times and WalletHub research.

Videos for News Use:

Was this article helpful?

Expert Commentary

WalletHub experts are widely quoted. Contact our media team to schedule an interview.

Disclaimer: Editorial and user-generated content is not provided or commissioned by financial institutions. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are WalletHub advertising partners. Our content is intended for informational purposes only, and we encourage everyone to respect our content guidelines. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.