For a real estate investor, choosing to buy in Dallas is like striking gold. With growing commercial sectors and a lively downtown, Dallas is a city that is full of energy. Diverse and cosmopolitan, the city offers its residents and visitors their choice of restaurants, museums and sports teams. Plus, Dallas has a stunning skyline that lights up the night.
With lively urban and suburban neighborhoods, the housing market in Dallas has real estate options for everyone. Along with the great features listed above, here are just few of the reasons you should invest in Dallas real estate:
Ever Increasing Population Growth
According to demographic reports, the population in Dallas has increased nearly three times faster than the national average. In a thriving city like Dallas, this means that as the population continues to grow so will the demand for rental properties. It’s a wise time to become an income property owner in Dallas.
The rental vacancy rates have been down trending in the entire state of Texas, and the vacancy rates in Dallas have dropped by almost 4 percent from last year. It isn’t a surprise that the 2021 fifth annual study from SmartAsset revealed that millennials were leaving cities like Los Angeles and flocking to cities like Dallas.
With increasing unemployment rates and a rising young population, the real estate market in Dallas is hot. After all, real estate value has increased by 30 percent from last year! No wonder the National Association of Realtors placed Dallas in the top 10 post-pandemic cities.
When you decide to invest in Dallas real-estate, a Dallas property management company can help you with the rest. At Keyrenter North Dallas we have extensive experience with the local real estate market.
Low Cost of Living in Dallas
According to Numbeo, the cost of living in Dallas is 25 percent lower than the cost of living in New York City, and 22 percent lower than San Francisco. With such a low cost of living and high salaries in Dallas, investing in the most happening city in North Texas is as easy as it’s affordable.
As we’ve highlighted, Dallas has a strong economy and buzz-worthy culture, but it also offers friendly suburban neighborhoods and a successful surrounding agricultural sector.
With opportunities both within city bounds as well as beyond city limits, the residents in Dallas have a wealth of economic opportunities compared to what other states may offer.
When it comes to real estate investing, Dallas is comparable in quality to other major American cities, but without such high costs. Whether you want to purchase a family home or acquire additional investment property, there isn’t a better time to invest in Dallas real estate.
High Quality of Life and Education
Historically, Dallas has deep roots in higher education. After all, Dallas University is one of the oldest universities in America. And University of Texas at Dallas is ranked highest among universities in the country.
Along with colleges, Dallas and surrounding areas are top class when it comes to high schools. The Dallas-Fort Worth-Arlington area has a high number of well ranked schools among the state.
As well, the student debt load in Texas is lower than neighboring states such as Arkansas, Louisiana, Mississippi, Alabama and Florida.
What does all of this mean for investors looking to buy real estate in Dallas?
It means that the high-quality education in Dallas attracts families, students, and professionals alike. Not only that, but due to lower debt loads, university graduates will enjoy a better quality of life, while allowing more of their income to go toward rent prices. Which is good news for rental property owners!
Dallas is an Up and Coming Tech Hub
A significant factor contributing to the increase in population is the expanding job market in Dallas. Some of the most notable companies located in Dallas include McKesson, American Airlines, and Exxon Mobil. Professionals from all over the country and beyond are drawn to Dallas and its many job opportunities.
Dallas is well-known for its innovative and high-end technology sectors and is currently exploding with start-ups. Tech companies are pushing the city into rivaling Silicon Valley, and many are opening headquarters in Dallas.
This means that commercial and residential properties will continue to rise in demand as entrepreneurs and professionals move into Dallas.
Texas Has Low Taxes
Buying property, whether commercial or residential, will involve dealing with local or municipal governments. Fortunately, the state of Texas encourages investors and entrepreneurs to invest in Dallas.
The city offers income tax incentives, and the state of Texas is one of only seven states that doesn’t have individual income tax.
This is great for the investor who decides to buy into Dallas real estate. Cutting costs is one of the major steps to making a profit. When the profit margin is higher, you’ll be able to diversify your real estate portfolio by further investing in Dallas properties.
Now that you know all that Dallas has to offer, how do you get a piece of the Dallas real estate? First, you need to be well informed and know where to invest. Dallas is full of great choices, and we’re here to help. As a leading property management company in Dallas, you can rely on the expertise and experience of Keyrenter North Dallas.
We offer solutions and services at the highest levels for investors like you. And once you’ve made the decision, we’re here to take care of the hard work, so that you can enjoy the most from your real estate investment.
Get in touch with us today and receive a quote for our services.