Many traditional asset investments are facing uphill battles these days making it worth a very serious look toward real estate investment, especially in a red hot market such as San Antonio. Forbes named San Antonio the third best city in America to buy investment property in 2016.
San Antonio is enjoying a resurgence in investor activity for many reasons. In San Antonio, homes that were purchased last year have appreciated, on average, by almost $14,000.00. Homes purchased in San Antonio just nine years ago have appreciated, on average, over $66,000.00 compared to the national average of a little over $16,000.00 for the same period.
The Appeal of San Antonio
Currently, the San Antonio housing market is more affordable than most parts of the country. As of this month, the median home price in San Antonio is $195,500.00 with a one-year appreciation rate at 5.8% and a three-year appreciation rate approaching 25%, that is a healthy market.
Couple San Antonio’s affordability with its population of about a million and a half people with an annual average household income stretching to around $53,000.00, an unemployment rate of 3.7% with a one-year job growth rate of 2.8%, and it is easy to see why investment properties are a very viable option in South Texas, particularly, in San Antonio.
From a management perspective, real estate investment makes more sense now than it ever has with online, affordable background checking services for prospective tenants and rent collection being able to be handled electronically. All of this opportunity in a city that ranks number six among metro areas in the country in population growth.
If those aren’t enough reasons to investigate investment real estate in San Antonio, let’s remember we are experiencing some of the lowest mortgage rates in history. Not only is there an opportunity to save money but a very great opportunity to make money. An opportunity has never knocked so loudly. San Antonio residents pay only about .57 cents per $100 of assessed value in property taxes in a state without income tax. San Antonio’s cost of living is another important factor to consider when buying real estate investment property. The cost of living in San Antonio, the seventh largest city in the United States, remains over 9% below the national average.
We’re here to help.
Buying real estate investment property has never been more attractive than it is in San Antonio. San Antonio investment property acquisition just might be worth investigating. If you are planning a move to the San Antonio area, give us a call to speak with one of our knowledgeable bankers and learn how we can assist you in the mortgage process, at (972) 591-3097.