While the main storyline coming out of the North Texas real estate market may be about the shortage in inventory or competitive bidding wars, there’s an even more important metric for investors to take note of: rising rental rates. According to Real Page, the average rental rate in North Texas climbed an astonishing 16% percent in 2021. What’s more, with the influx of people moving to the area combined with an already tight market, there’s no sign on rent increases slowing any time soon.
This is great news if you’re an investor who’s been eyeing the North Texas market. Steady rental income growth is one of the key indicators of a healthy and stable market, and with rents on the rise, now is as good a time as any to get into this region. While opportunity can certainly be found in any area, if you’re looking to invest in North Texas, you’ll likely find the majority of workable deals in the northern suburbs. As the metroplex continues to expand, the growth has continued further north into places like Plano, Frisco, McKinney, Prosper and as far up as Sherman and Denison.
If you’re new to investing in rental property, working with a reputable property management company is a great way to get your feet wet. Not only will they be able to help you find deals that fit your criteria, but they can also provide invaluable guidance and support throughout the process – from due diligence all the way through to ongoing asset management.
Whether you’re just starting out or are a seasoned veteran, there’s never been a better time to invest in rental property in North Texas. With rents on the rise and no end in sight, now is the time to start building your portfolio in this rapidly growing region.
If you an investor who’s looking to take advantage of current market conditions, would like a professional analysis of your property’s income potential, or simply want to connect with a high-level management company that always puts client’s for, give us a call at 469-649-7666 today!
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