Regardless if you are looking for your first property or you own a portfolio of real estate, it's important to find properties that can give you a great return on your investment. Here are some of the hottest rental property markets in Texas you should consider investing in this year according to a recent Forbes article.
Famous for its football team and Tex-Mex food, Dallas is the fourth most populous city in the United States The average home price in Dallas is $233,000, which is up almost 4% from last year. More people are moving to the city. Job growth within the city is expected to increase 31% by 2020. As the prices for homes continue to rise, more people will want to find a place to rent.
2. Fort Worth
Another hot rental property market is Fort Worth. The Northern Texas city has strong job growth and many people are moving there to take advantage of local opportunities. Fort Worth is one of the fastest growing areas in Texas and has amazing school districts.
3. San Antonio
San Antonio is a profitable market for real estate investors since home prices are rapidly increasing at higher rates than the rest of the country. This means you can get a better return on your investment quicker than in other areas. San Antonio is one of the fastest growing cities in the nation. People are deciding to move to San Antonio due to its affordable cost of living, which is 9.2% lower than the national average. It also has a thriving local economy with rapid job growth.