With the “flipping” trend coming to an end, now is the time to consider long-term housing investments. Whether you are a professional investor like me or a novice looking at your first purchase, housing is a pretty safe bet in our area.
When you are looking for a good city to buy a home in or invest in real estate property, you should look to cities with strong job growth and where homes are relatively low priced. Based on those requirements, Forbes recently named Austin, Texas as the number one place to invest in 2015 (out of 300 markets with ametropolitan population of at least 550,000). With both it’s growing population and appealing job opportunities, experts predict a steady supply of renters in Austin for the coming years.
Austin has a current population of 1,883,051 and the population grew 8.9% from 2010 to 2013. Job growth is up to 3.6% annually which is higher than the national average of 2%. This increase in job opportunities is creating the perfect market for property owners. According to DMDataBases, 54% of housing units in Austin are occupied by renters and 30% of renters will rent for 3-5 years. Jobs are not the only thing that attracts people to Austin, local attractions include: University of Texas, downtown Austin, city parks, Lady Bird Lake, the Colorado River and much more.
With strong industries like energy and technology, four other Lone Star State cities top the list of best places to buy or invest this year: Houston, Dallas, San Antonio, and Fort Worth. You will find the highest priced homes in Austin and the lowest priced homes in Fort Worth.