Are you looking to invest in Dallas, TX real estate?
Dallas City is part of the top 10 thriving markets in the post-pandemic according to the National Association of Realtors. Home prices may have increased but it’s largely affordable to property investors in this city.
Most of the rental units are occupied among its best neighborhoods. It continues to have a flourishing economy with a growing population. Rents are also increasing given that the demand is high with people relocating to this city with warmer weather and plenty of work opportunities. These are positive factors to consider for property investors.
In this article, we here at Keyrenter North Dallas will evaluate the top areas in Dallas that you could include in your choices for your next property investment. You’ll be updated about the neighborhoods that are lucrative and potentially rewarding for real estate investors in this part of Texas.
Best Dallas Neighborhoods to Buy Real Estate
Real estate investors would find it easy to attract young professionals for their Oak Lawn rental home. Categorized as one of the affluent neighborhoods situated near the Downtown, it’s in high demand. Living here, renters would find dining, entertainment, and shopping conveniences within easy reach.
Oak Lawn offers modern and classy apartments, condo units, and townhouses at below the average cost if you look around. Another demographic to target for your investment property is families since Oak Lawn has classic homes that are built with quality in mind.
If you plan to own a long-term rental, the traditional strategy of property investors, take a closer look at the neighborhood of Near East. A high ROI can be gained using this business approach. The demographics in this area have a higher median household income than what’s typical in Dallas.
Due to the amenities that are present in Near East, a lot of people desire to live here. Thus, you can set a high rent price based on the substantial demand. The potential to earn a lucrative passive income is an opportunity you can maximize when you invest in a rental property in this area.
Greenland Hills is located in East Dallas and has homes built back in the 1920s. The architectural style commonly found in these properties is the Tudor style where arches and stained-glass windows are characteristic. There are also smaller neighborhoods populated with different housing styles that are unique in character.
Families can be the main demographic to attract here for your rental property since it’s near to public schools served by the Dallas Independent School District. Private schools are also in proximity, including colleges and universities.
Further, recreational parks are also situated in this neighborhood namely Glencoe Park, Katy Trail, and White Rock Lake. This accessibility makes it easy for families to spend outdoor activities together.
Among the most popular neighborhoods in Dallas and Texas is Uptown where urban amenities are widely available. Residents can explore the myriad of restaurants, bars, cafes, and parks in this area. It’s an ideal location for those raising a family with its acres of green spaces.
You can target different demographics such as families and professionals. Tourists can also be another market if you plan to have short-term rentals. The Uptown area is vibrant where people can catch a game or concert event at Victory Park. Those who enjoy the nightlife will find Uptown an exciting home base.
Apart from this, Uptown is a shopping destination where the largest group of retailers from local to international are established. Celebrity chefs can also be found in Uptown’s dining spots.
For cultural entertainment, art galleries, museums, and theaters can be enjoyed here. Thus, renters who like living in the central pulse of the city will choose to stay in this neighborhood.
Equally attractive and popular as the Uptown neighborhood is Downtown Dallas. You can choose professionals, families, and tourists as your target demographics for your rental. A lot of renters reside in this area given its wide urban appeal.
Choosing to stay in Downtown Dallas means having ready access to one-of-a-kind shops, renowned museums, hip restaurants, and amazing parks. You can also find the City Center and the historic districts of Downtown Dallas. Other attractions present here are the Pearl/ Arts District and the Dallas World Aquarium.
Exciting events are always around the corner such as summer festivals, musical acts, movies at the park, and art shows. The city vibe of Downtown Dallas is suited to residents who are always on the go and seek exciting and trendy recreational events in the urban center.
Another neighborhood that exudes a mix of urban and suburban vibes, Lower Greenville is an attractive real estate investment. It’s situated in the east part of Greenland Hills and offers plenty of amenities from interesting restaurants to relaxing parks. Thus, this area never runs out of renters.
You can target a variety of tenants as an investor. Professionals, millennials, young families and tourists can easily be attracted to living in Lower Greenville. Recreation is always within reach with a stimulating nightlife scene, buzzworthy dining areas, and cool bars. Quaint shops selling artsy trinkets and classic and rare records are also found here.
For cultural entertainment, a contemporary theater, a neighborhood theater, and various art performances are available to renters opting to stay in Lower Greenville. Diverse events for families and children, free festivals, musical acts, and outdoor activities can always be enjoyed in this neighborhood.
In a Nutshell: Best Real Estate Markets in Dallas
Dallas is a city that real estate investors have their eyes on. It has a great warm climate, solid economy, thrilling nightlife, robust cultural entertainment and provides access to an excellent education system.
If you are looking to purchase Dallas real estate, you may want to consider Oak Lawn, Near East, Greenland Hills, Uptown, Downtown, and Lower Greenville. Of course, there are other amazing areas to invest in Dallas that we couldn’t fit in! Some amazing options to invest in also include Lake Highlands, Carrollton, and Richardson.
Don’t hesitate to contact us at Keyrenter North Dallas today if you have questions about investment opportunities in Dallas, Tx!