Wondering if you should enter the Dallas real estate market? Whether you want to dip your toes or jump right in to the rental property game, seasoned rental property investors will concur that Dallas is the place to do either. Here’s why this is especially true right now.
Dallas has been able to attract more than 100 firms from across the country since 2010 from all sectors including innovative tech companies to education and communications. The favorable business climate and the state’s low tax rate help make the area attractive, as does the variety of rental markets ranging from inexpensive apartments to luxurious condos to single family homes.
The strong economy, low tax rate, and higher salaries have led to the population explosion – and consequently – a housing shortage. With available inventory tight and home prices rising, the rental market has become highly desirable, if not necessary, making Dallas more favorable and reasonable to renters.
Generally, a price-to-rent ratio over 10 is more favorable to renters versus homebuyers. Currently, the price-to-rent ratio in Dallas is approximately 16.01. The takeaway: now is an excellent time to invest in Dallas real estate.
So, we now know Dallas is an opportune market for increased rental profit potential, but where should you invest? Based on the all-important “location, location, location” factor, here are Dallas’ top 10 most popular neighrborhoods:
- Cockrell Hill
- Bryan Place
- Campbell Green
- North Dallas
- Far North Dallas
Ready to learn more about investing in a Dallas property? Let us be part of your process. First United Mortgage knows the Dallas market inside and out. We offer programs designed especially for real estate investors. Get started by calling one of our originators today at (972) 591-3097 to help you take the guesswork out of real estate investing.