TurboTenant Report: The Best Places to Buy Rental Investment Property in Texas
Click the city names above to jump to data! In this edition of The TurboTenant report, we will be focusing on the best places to buy an investment property in Texas. Three towns made our list – Austin, San Antonio, and Arlington. Once again we curated data from studies on the best places to buy an investment property, median sale prices, and proprietary TurboTenant data. The TurboTenant Data includes stats on the average number of leads a rental property received, as well as the average number of days on the market. These two points will help an investor determine the strength of the rental market, as well as estimating potential vacancy rates. Texas is the second-most populous state and one of the top 3 fastest-growing states behind California and Florida, according to Harvard’s 2019 State of the Nations Housing report. Let’s jump into The Lone Star State’s best investment locales.
The Best Cities to Buy an Investment Property in Texas
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 firstname.lastname@example.org. 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:
Sarnen has been investing in rental property since the age of 19. He saw firsthand the need for an easy-to-use and affordable technology backed solution geared towards independent landlords. In October of 2015, he launched TurboTenant. Today TurboTenant serves 200,000+ landlords and is still dedicated to making the rental process easy, smooth, and hassle-free. Sarnen is a regular contributor on Forbes and Bigger Pockets and has firmly positioned himself as thought leader in the real estate and proptech space.
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