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
#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
Once you’ve landed the perfect investment property in a good location, TurboTenant can help take your landlording into the digital world by streamlining the rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.
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@example.com.
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.
- 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.