Are you looking for ways to make money in the Dallas real estate market? Are you keen on generating positive cash flow? How sound is investing in a Dallas investment property this year? Whether it is Airbnb rentals or traditional rentals, investing in the US housing market is a smart investment this year. Followed by global turbulence, whether the Brexit or the recent financial crisis, many real estate investors worldwide have come to realize that the US housing market is the best to invest in today. The Dallas real estate market, in particular, has seen a growth that many more are now discovering and resorting to for investment opportunities.
Related: Texas Real Estate Investing: The Best Areas
Investing in a Dallas investment property has proved in recent years to have a high return on investment. The job market and population growth are two factors that have positively impacted the economy and therefore the real estate market. As more people are moving to Dallas, and as more job opportunities are opening, more demand for commercial and residential real estate properties is seen. If you want to invest in a Dallas investment property today, we advise that you further look into Mashvisor and the abundant tips that it has to offer.
Today, we will tell you all about Dallas investment property outlook. First, we will explore the deriving factors of the growth in the real estate market. Then, we will go on to explore one rental method that has become increasingly popular and effective in recent years. Lastly, we will explore three neighborhoods that you should look further into, if you are keen on investing in real estate in Dallas.
Job Growth and Its Impact on Real Estate
As an alternative to other large metropolitan cities such as New York, Dallas has become a predilection for many. Dallas economy, overall, has enjoyed a 6.3% growth over the last three years, accompanied by a 3.9% job market growth. Millennials and young entrepreneurs are flocking into the city to land on job opportunities within its growing tech sector. This has consequently increased demand for housing, while boosting the real estate market activity.
Many investors are resorting to the Dallas real estate market and looking for ways to land on a fruitful Dallas investment property. In fact, home prices have seen a 9% annual growth, almost 4% higher than they were last year. With an average home price of $230,000 now, home prices are forecast to increase by over 31% by 2020. If you are interested in a Dallas investment property, we recommend that you invest today before prices are too high. After all, the city and the Dallas-Ford Worth Metro Area house around 8.3 million people, with a higher percentage of renters than owners. This is contributing to the growth of the rental market as more people prefer to rent.
Emergence of Airbnb Short-Term Rentals
Airbnb has become increasingly popular across the United States, and in Dallas in particular it has flourished. Airbnb is an online marketplace that enables people to lease or rent short-term accommodation. The rapid population growth accompanied by the increasing number of visits every year has contributed to the emergence and growth of Airbnb rentals. More and more tourists come flocking into the city every year, and as a result more demand for short-term rentals is seen. If you want to make cash quickly and are keen on generating positive cash flow, then investing in a Dallas investment property is a wise investment decision today.
Related: What Makes for the Best Cities for Airbnb Rental Properties?
Top Neighborhoods
Have you made your decision whether or not you want to invest in a Dallas investment property? Below we explore the top neighborhoods which will facilitate your learning process and help you come to a conclusion. Before you come to your investment decision, visit Mashvisor today to unleash a plethora of knowledge in this regard.
Woodbridge
- Median Home Value: $165,000
- Median Rent: $900/month
A neighborhood in the neighborhood of Lake Highlands, Woodbridge is a small area with only about 250 homes. The neighborhood is located in close proximity to highways, commute trails, and many corporations including Telecom Corridor. The accessibility and convenience, accompanied by a big investor’s predilection to move operations to Woodbridge, has made the area more diverse than ever. Woodbridge, in fact, ranked first among the top diverse neighborhoods in Dallas in 2017. If you are looking for an affordable Dallas investment property with access to amenities as well as job centers and opportunities, we encourage you to further invest in Woodbridge.
Coppell
- Median Home Value: $300,000
- Median Rent: $1,200/month
Located in the northwest of Dallas County, Coppell is a small suburb of Dallas. The neighborhood has gained more popularity recently as more people continue to move to Coppell for the varied job opportunities and big city like amenities. Coppell provides excellent educational institutions and is a great place to raise a family in. In 2017 in fact, Coppell ranked second among the top neighborhoods to raise a family in.
The population is about 40,000, with about 71% owning their homes. Although rent is comparatively low, the majority chooses Coppell as a location to settle, invest, and raise a family in. However, you can still rent out income properties as a real estate investor in Coppell. If you need help finding a Dallas investment property, including in Coppell, visit Mashvisor.
Lakewood
- Median Home Value: $450,000
- Median Rent: $1,000/month
East of the West Village and Highland Park neighborhoods, Lakewood is a suburb in the far east of Dallas. The neighborhood is laid back with hiking trails, boathouses, botanical gardens, and many green open spaces. The neighborhood continues to be attractive for many for its impressive real estate properties, charming cottages, varied amenities, and accessibility to city center. In 2017, Lakewood ranked 4th among the top neighborhoods to live in the Dallas-Fort Worth Area. Although rent is relatively low and median home values are expensive, real estate investors continue to buy properties in this beautiful town. The stability of the economy, the job market, and the real estate market continue to attract house investors to buy rental properties in Lakewood. If you are looking for an investment location with a good quality of life accompanied by big amenities and job opportunities, consider Lakewood.
Related: Everything to Know About Dallas Real Estate Investing
Finding a Dallas investment property today is not very difficult. Although more people are demanding investment opportunities in Dallas and its neighborhoods, homes continue to be affordable and widely available. Whether you want to settle and invest in the suburbs of Dallas or in its metro area, rest assured to find a Dallas investment property to suit your needs and desires. We hope the information we provided today will help you decide on which neighborhood to further pursue. For more information about neighborhoods in Dallas and ways to buy investment property, visit Mashvisor.