The Best Cities to Buy an Investment Property in Texas
#3: Austin, TX
- Population growth: 3.7%
- Employment growth: 3.3%
- Increase in home values: 7.8%
Median Sale Price: $389k as of August 2019 Average Rent: $1614 for a 2 bedroom Average Number of Leads per Property: 13 Number of days on the rental market: 10
#2: San Antonio, TX
- Population growth: 3.3%
- Employment growth: 2.2%
- Increase in home values: 8%
Median Sale Price: $222k as of August 2019 Average Rent: $1046 for a 2 bedroom Average Number of Leads per Property: 42 Average number of days on the rental market: 11
#1: Arlington, TX
- Population growth: 2.2%
- Employment growth: 3.4%
- Increase in home values: 10.3%
Median Sale Price: $237k as of August 2019 Average Rent: $1117 for a 2 bedroom Average Number of Leads per Property: 128 Average number of days on the rental market: 9
About the TurboTenant Report
The TurboTenant Report analyzes data from active listings across all 50 states, as well as third party real estate, population and employment growth data. Our goal with the TurboReport is to empower seasoned and novice investors to make wise purchasing decisions when purchasing a rental investment property. For more information or custom data requests, please contact [email protected]. Methodology: In order to determine the best cities to invest in each state, we curated data from a number of reputable sources as well as using TurboTenant proprietary data. Our main city selections were taken from a study that evaluated four main factors for each city: employment growth, population growth, increase in home values and rental yield. We combined that with TurboTenant data on the average rent price, the number of rental leads per property, as well as the average number of days the rental stays on the market. We also included an honorable mention where applicable, they are pulled from this study on the best places to invest in every state. These were determined using Zillow’s Buyer-Seller Index and Zillow Home Value Forecast, and AreaVibes’ Livability Score. Other methods for determining honorable mentions include using TurboTenant proprietary data to determine which cities return the best rental investment R.O.I. using data points including days on market, the number of leads per property, and average rent price. DISCLAIMER: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state and federal laws and consult legal counsel should questions arise. Sources:
- TurboTenant Rental Data
- Fastest Growing States Population
- The Best and Worst Cities to Own Investment Property
- Real Estate data provided by Redfin, a national real estate brokerage.