The Dallas housing market is doing great after recovering from the blows of the pandemic. In fact, home prices in North Texas and across the country have seen significant gains as demand for houses has risen in the past few months. The Dallas real estate market is following this trend as well. Before this ongoing crisis, Dallas was a balanced real estate market. It was doing pretty well.
But in May, residential sales in Dallas County had fallen 35 percent from their level in May 2019 and the median sales price was down 4 percent. The double-digit decline in April and May led to an overall decline year-to-date compared to 2019. The recovery of sales began from July onwards when sales rose by 20% year over year.
Increasing sales and a dwindling supply of active listings have pulled Dallas' months of inventory (MOI) down to an all-time low of 2.3 months, according to the latest data released by MetroTex, the largest REALTOR® association in North Texas. The local agents are doing their best looking for the supply solutions necessary to keep this market healthy. The 2.3-month inventory figure is 1.1 months less than the same period last year.
Sales Price: The Dallas median home price accelerated 17 percent YOY in October. Heightened competition for homes on the market and low mortgage rates have placed consistent pressure on home prices for months now. The market is expected to remain hot and in favor of sellers in 2021 as well. Homebuyers are showing an increased interest in suburban neighborhoods across the nation. The increase in demand coupled with a decrease in listed homes would cause home prices in suburban areas to accelerate in 2021.
The larger Dallas metro area posted a home-price appreciation of 9 percent for the third quarter with the highest gain (36.2%) in the segment of $200,000 – $299,999. That's because the housing supply is tightest at the lower end of the pricing spectrum. There are more house hunters and buyers on the more affordable end as compared to the higher end.
Listing Prices: Realtor.com's report shows that the median list price of homes in Dallas, TX was $420K in November 2020, trending up 6.3% year-over-year. The median listing price per square foot was $214. According to them, Dallas is the seller's market, which means that more people are looking to buy than there are homes available.
Below is the latest Dallas (County) housing market report released by the MetroTex REALTORS. Dallas is a minimally walkable city in Dallas County with a population of approximately 1,197,970 people. The Dallas county posted a sales & price growth in double-digits as compared to the previous year. Here are the precise housing metrics for the previous month.
- The median sales price increased by 17.4% to $284,000.
- Closed sales increased by 16.4% to 2,371.
- Total active listings dropped by 28.5% to 4,946.
- The total days on market equaled 72 — 8 days less than October 2019.
- Months of inventory = 2.3
- From this standpoint, the Dallas real estate market still favors sellers over buyers.
Dallas Real Estate Market Forecast 2021 (Updated)
Dallas Real Estate is one of the most affordable in the state of Texas. It is also one of the hottest real estate markets for rental homes in the nation. Before the Covid-19 pandemic hit the nation the Dallas real estate market was expected to outperform the nation in 2020, in terms of annual home value appreciation. So, what are the Dallas real estate market predictions for 2021?
Dallas-area home prices have risen more than 80% since the worst of the Great Recession in 2009, according to Case-Shiller. Case-Shiller’s index tracks over time the prices of specific single-family homes in each metropolitan area. The index survey does not include condominiums and townhouses and only covers pre-owned properties.
Let us look at the price trends recorded by Zillow over the past few years. Since 2012, the Dallas home values have appreciated by nearly 99%, from $119,000 to $236,652. At the start of 2019, the median home price in Dallas was around $201,000 and it was a gain of more than 13% from a year earlier. Home prices have risen by 5.3% (Zill0w) in the last twelve months. The DFW metro area has experienced smaller price gains as compared to Dallas.
The historical change in home prices for Dallas-Plano-Irving, TX is shown below for the three-time period. The Dallas Home Price Index has increased for the last 26 consecutive quarters (data up to 3rd Quarter, 2018). The highest annual change in the value of houses in the Dallas Real Estate Market was 24% in the twelve months ended with the 3rd Quarter of 1978.
The worst annual change in home values in the Dallas Market was -8% in the twelve months ended with the 4th Quarter of 1987. The highest growth in home values in the Dallas Real Estate Market over a three year period was 35% in the three years ended with the 3rd Quarter of 2017.
The worst performance over a three year period in the Dallas Market was -14% in the three years ended with the 2nd Quarter of 1989. For the upcoming updates, you can visit LittleBigHomes.com.
|Time Period||Dallas Metropolitan Area Real Estate Appreciation|
|Last 5 Years||58%|
|Last 10 Years||66%|
|Last 20 Years||136%|
Here's Zillow’s housing market forecast for Dallas, Dallas County, and the Dallas MSA. Housing inventory remains low in many major cities across the nation, and Dallas is no exception to that. According to their forecast, the supply and demand dynamics will likely push prices north again over the next 12 months. The Dallas housing market still favors sellers over buyers.
- Dallas home values have gone up 5,3% over the past year and the latest forecast is that they will rise 7.1% over the next 12 months.
- Dallas County home values have gone up 5.7% over the past year and the latest forecast is that they will rise 7.3% over the next 12 months.
- Dallas-Fort Worth-Arlington Metro home values have gone up 5.5% over the past year and the latest forecast is that they will rise 5.3% over the next 12 months.
- LittleBigHomes.com estimates that the probability of rising home prices in Dallas is 76% for the 3 years ending with the 3rd Quarter of 2021.
- If this price forecast is correct, the Dallas home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? While many have lost jobs, making them ineligible for a home mortgage, some sellers took their homes off the market. The decrease in the number of active listings over the past couple of months indicated that new sellers were still not willing to put their homes on the market until the pandemic or its threat is completely over.
Dallas and the entire metro area market is so hot that it cannot shift to a complete buyer’s real estate market, for the long term. In a balanced real estate market, it would take about five to six months for the housing supply to dwindle to zero. In terms of months of supply, Dallas can become a buyer’s real estate market if the supply increases to more than five months of inventory.
And that’s not going to happen. Therefore, in the long term, the Dallas real estate market remains strong and skewed to sellers, due to a persistent imbalance in supply and demand. As of now, the month of supply is 2.3 for Dallas County.
For sellers in Dallas, it is a great time to sell. Motivated buyers are looking for houses for sale, and you are not competing with as many property owners. Many sellers have chosen to back out amid this pandemic.
For buyers in Dallas, mortgage rates are at their lowest. For those who qualify for mortgages, low rates help counteract rising home prices and boost purchasing power. So they should take advantage of scooping up their favorite deals which otherwise are taken away by seasoned investors in the bidding wars.
The chart below, created by Zillow, shows the growth of median home values since 2011 and their forecast until October 2021 (the green area).
Dallas Housing Market 2020 Summary: Prices | Sales | Supply
Let’s discuss a bit about the Dallas area and do a quick recap of how its housing market has performed in 2020 so far. We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region.
Dallas has a mixture of owner-occupied and renter-occupied housing. According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in Dallas. Other types of housing that are prevalent in Dallas include single-family detached homes, duplexes, rowhouses, and homes converted to apartments.
Dallas is among those US cities where renting is more reasonable than buying. One of the many reasons Dallas has been growing over the years is because young people have moved there and continue to do so, and the preferred starting with rental properties before buying their own home. The demand for rental units has increased 14% over the last year, so it's the perfect opportunity to invest in Dallas real estate.
Single-family homes account for about 43.51% of housing units in Dallas. At the national level, the single-family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single-family rental units. With 2020 being, theoretically, in the middle of a boom, there are still 4 years for residential construction to surge. Most likely, a housing shortage will remain in 2020, keeping home prices high.
Dallas-Fort Worth homebuilders started 33,891 houses in 2017, an increase of 4,488 houses or 15.3 percent above 2016 home starts of 29,403, according to a report from the housing analysis firm of Residential Strategies. Dallas is one of the nation’s largest metropolitan areas. With a population of more than 7 million in the Dallas-Fort Worth CMSA, there has been a tremendous amount of real estate development activity to support this growth over the past 65 years.
After the great recession of 2008, renting a home has increased exponentially across the nation. There are currently over 136.57 million housing units in the U.S. In 2018, the total number of homeowner households hit an all-time high of 76.2 million. 36.6% of households rent their homes and 64.4% buy their homes (2018 U.S. Census Bureau).
Dallas is also one of the hottest real estate markets in the nation. In the past ten years, the annual real estate appreciation rate has amounted to 5.83%, according to NeighborhoodScout.com. This puts Dallas in the top 10% nationally for real estate appreciation. During the latest twelve months, the real estate appreciation rate has been at 5.21%.
If we go back to historical data, the median sale price for a house in Dallas-Fort Worth rose 6.31 percent from $236,100 in November 2016 to $251,000 in November 2017, according to the data from the Texas A&M Real Estate Center. At the start of 2019, the median home value for Dallas, Texas was around $201,000. The median for the broader DFW metro area was a bit higher. That was a gain of more than 13% from a year earlier, according to data collected by Zillow.
Predictions were pointing to a home-price growth of 7% and 10%. However, that did not happen and the prices grew by roughly 3% between Jan 2019 to Dec 2019 (Zillow). Although home prices in Dallas continue to rise faster than the national average, however, there is a cooling trend taking place.
But if the inventory continues to grow in the Dallas real estate market, it will likely lead to smaller home price gains in Dallas in the future. And that’s probably a good thing. When home prices rise at a much faster pace than local wages and income, it can create affordability problems. So a cooling trend could be beneficial at this point.
Is Dallas going to be one of the hottest real estate markets for investors in 2020 and 2021? To answer this question, let’s take a look at the latest Dallas housing market trends.
Impact of COVID-19 on The Dallas Housing Market in 2020
Home sales paused the past couple of months as well, as the metro area struggled with a sharp rise in coronavirus cases. Covid-19 pandemic impacted home sales in April, May, and June but home prices continued to strengthen despite the low sales.
The real estate sales showed signs of recovery in July. The number of homes sold within Dallas County has shown a double-digit increase of 20.7% as compared to last year. The median price also increased by 15.3% to $282,500.
There was about a 2.7-months supply of homes for sale in Dallas County, which was well below what’s considered to be a balanced real estate market. The Metro Dallas houisng market also faced a shortage of available homes with just 2.5 months of supply. The demand and sales have been climbing at a feverish pace in the Dallas real estate market for more than two years now.
According to Mymetrotex.com, the Dallas county housing market did not perform well when compared with 2019. However, the market showed signs of recovery in July as sales rose by 20% year over year.
- The median sales price increased by 15.3% to $282,500.
- Total active listings dropped by 22.8% to 5656.
- The total days on market equaled 75, 3 days more than July 2019.
- Closed sales increased by 20.7% to 2928.
- Months of inventory = 2.7 (Seller's Market).
Dallas Metro Housing Market Report For Third Quarter 2020
There were 119,642 homes sold in Texas in the third quarter of 2020, an 18.4% year-over-year increase. The same period saw active listings decline 32.4% and housing inventory drop to 2.3 months, according to the 2020-Q3 Texas Quarterly Housing Report released by Texas REALTORS®.
Below is the quarterly report of the Dallas Housing Market. The report compares key housing metrics of the entire Dallas-Fort Worth-Arlington MSA from Q3 2020 to Q3 2019. Low inventory keeps this region strongly skewed to sellers.
As you can see in the report, the median prices rose in every segment as compared to last year with the highest gain (36.2%) in the segment of $200,000 – $299,999. That’s partly because there are more investors and buyers on the more affordable end. As you up the pricing spectrum, the number of eligible buyers drops off.
|The median sales price is up by 9.1% to $300,000.|
|For the homes priced in the range of $0 – $99,999, the median price rose by 1.1%.|
|For the homes priced in the range of $100,000 – $199,999, the median price rose by 12.6%.|
|For the homes priced in the range of $200,000 – $299,999, the median price rose by 36.2%.|
|For the homes priced in the range of $300,000 – $399,999, the median price rose by 23.7%.|
|For the homes priced in the range of $400,000 – $499,999, the median price rose by 11.7%.|
|For the homes priced in the range of $500,000 – $749,999, the median price rose by 9.8%.|
|For the homes priced in the range of $750,000 – $999,999, the median price rose by 2.6%.|
|For the homes priced in the range of $1,000,000+, the median price rose by 2.2%.|
|Active listings are down by 37% to 16,804 in 2020 Q3.|
|Closed sales are up by 18.6% to 34,668 in 2020 Q3.|
|Total days on market = 76, 2 days less than 2019 Q3.|
|Months of inventory = 1.9, compared to 3.2 in 2019 Q3.|
Dallas Real Estate Foreclosure Trends 2020
Here are some foreclosure statistics of the Dallas housing market. As per the Dallas foreclosure data provided by Zillow, in Dallas 0.2 homes are foreclosed (per 10,000). This is lower than the Dallas-Fort Worth-Arlington Metro value of 0.3 and also lower than the national value of 1.2.
The percent of delinquent mortgages in Dallas is 1.3%, which is higher than the national value of 1.1%. The percent of Dallas homeowners underwater on their mortgage is 5.7%, which is higher than Dallas-Fort Worth-Arlington Metro at 4.4%.
There are currently 228 properties in Dallas, TX that are in some stage of foreclosure (default, auction, or bank-owned) while the number of homes listed for sale on RealtyTrac is 3,685. In September, the number of properties that received a foreclosure filing in Dallas, TX was 9% lower than the previous month and 66% lower than the same time last year.
Currently, the zip code with the highest foreclosure rate is 75241, where 1 in every 2312 housing units is foreclosed. 75216 zip code has the lowest foreclosure rate, where 1 in every 3407 housing units becomes delinquent.
|Potential Foreclosures in Dallas||228 (RealtyTrac as of September 2020)|
|Homes for Sale in Dallas||3685|
|Median List Price||$389,900 (4% rise vs Aug 2019)|
Dallas Real Estate Market: Is It A Good Place For Investment?
Is Dallas a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Dallas is a good investment? You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers in 2020.
Whether you're buying your first income property or just adding another one to the portfolio, the Dallas housing market is a great place to do so as it doesn't get any more “location” than this. The Dallas housing market has some great profit-generating opportunities for all types of real estate investors. The majority of the housing stock of Dallas consists of large apartment buildings and single detached homes, and the remaining properties are mainly small apartment buildings.
Dallas has a strong economy and constant population growth and will make your pockets bigger. As rents go up smart investors should invest in Dallas real estate. Purchasing an investment property in the Dallas real estate market, whether it a single-family home or a multifamily apartment is an investment that can pay out some huge benefits if you have some experience and education in real estate investing. You have to know the best places to put your money in real estate so you must do some extensive research to find out the best neighborhoods in Dallas real estate market.
Top Reasons To Invest In The Dallas Real Estate Market
Let’s take a look at the number of positive things going on in the Dallas real estate market which can help investors who are keen to buy an investment property in this city.
Dallas is a Growing Real Estate Market
One of the largest metropolitan areas in the USA, Dallas is currently the beating heart of the Texas housing market. Dallas's population has grown at twice the national rate for years now and this pushes the prices of Dallas investment properties higher due to builders not being able to keep up. Dallas home prices have been on the rise in the last 10 years. In fact, over the last 6 years, 3 bedroom homes in Dallas have appreciated by 45%. During the same period, 3 bedroom home prices in Dallas appreciated by 41% nationwide.
Dallas's housing prices have increased 29% over the last three years, even with these increases in home prices, they are still competitive for investment properties and you can expect further increases over the years. This shows us that home prices in Dallas are rising more quickly than most other cities across the nation. If you want to buy an investment property in Dallas, don't wait around, go ahead and do it.
In January, Zillow published a forecast that included what they felt would be the ten “hottest U.S. housing markets for 2019.” Dallas was ranked at number seven on that list. They looked for metro areas with strong income growth, growing populations, and low unemployment, and several other factors. San Jose was ranked number one in the hottest markets forecast.
A strong economy has buoyed home prices in Dallas beyond their fundamental levels for a sustained period, according to a report by Florida Atlantic University associate dean Ken Johnson. Home prices in Dallas are still appreciating but at a decreasing rate, suggesting that the current upward pattern in property appreciation is nearing an end. A bubble is not likely but a significant slowdown in-home price increases are most likely, according to James Gaines, chief economist with the Real Estate Center at Texas A&M University.
He said that things may slow down in Dallas, but it would take a major economic event to do that. The university study isn't the first to warn of a home price correction in the Dallas area. But other reports by CoreLogic and Fitch Ratings have said North Texas home prices are overheated. And with the outbreak of the COVID-19 pandemic, things have really slowed down, at least for the short period. In May, there was a decline of 3% in the median home price in Dallas County. In July, the median price has shown a double-digit appreciation of 15% to $282K.
No State Capital Gains Tax
Texas has no state income tax, and many property owners are attracted to the state because no state capital gains tax on income from sales of property (Landowners still have to pay federal taxes on their gains under certain situations). This makes investing in Texas more lucrative for investors. Dallas house prices are also much lower than in other major cities.
The result is an attractive rental property market for domestic and international investors alike. According to the Texas Association of Realtors, around one-third of international investors come from Latin America, just ahead of those from Asia. European buyers make up around one in 10 buyers, while Indian buyers are also a notable presence in the Texas real estate market.
Dallas' Strong Economy
You should think of investing in Dallas real estate because it has a very diverse economy so there is a niche' for people of every income level. It is estimated that 340 people move to Dallas-Fort Worth every-day. Dallas has the lowest homeownership rate in the country, with renting more affordable than buying.
Dallas is a job hub. In the past decade, new jobs have created a land rush that has made North Texas one of the fastest-growing areas in the country. In 2018, 102,500 jobs were created here, and about 130,000 people moved to town. It is home to a large number of corporate headquarters, the city is a significant financial hub in the South of the USA.
Dallas's local economy is a mix of aerospace, computer chips, telecommunications, transport, energy, and healthcare sectors and the Finance and Business Services. These sectors are all providers of good wages which allows for a strong market for Dallas investment properties.
Additionally, since 2014, 15 major tech companies have moved to Dallas, Texas bringing advancement and job growth in industrial and professional areas. These factors contribute to the immense growth of the Dallas real estate market. Tourism is on the rise in Dallas, Texas which promotes job growth to towns and neighborhoods within the area.
Some of the common points of attraction are the AT&T Stadium, Reunion Tower, and Book Depository. Dallas is becoming a hub for start-ups and IT companies which has led to an increase in investment in the Dallas real estate market.
Strong Dallas Rental Market
Texas has some of the best colleges in the country. And with the instrumental position held by the University of Texas, Dallas, and Northwestern State University, all students and eventual graduates are going to be in the rental market at some point. According to RentCafe, the average rent for an apartment in Dallas is $1,250, a 4% increase compared to the previous year. 216,192 or 42% of the households in Dallas, TX are renter-occupied while 289,624 or 57% are owner-occupied.
More than 80% of the apartments can be rented for less than $1500. If you buy an investment property in Dallas, there are statistics that there is no shortage of people looking for a place to live here, which means there is no dearth of prospective tenants for your Dallas investment property. The annual vacancy rate of rental properties in Dallas is very low as compared to other cities which is another good reason for investing in the Dallas real estate market.
As of November 2020, the average rent for an apartment in Dallas, TX is $1228 which is a 0.33% increase from last year when the average rent was $1224, and a 0.24% increase from last month when the average rent was $1225.
- One-bedroom apartments in Dallas rent for $1050 a month on average (a 0.29% increase from last year).
- Two-bedroom apartment rents average $1422 (a 0.28% increase from last year).
- The average apartment rent over the prior 6 months in Dallas has decreased by $6 (-0.5%).
- One-bedroom units have decreased by $7 (-0.7%).
- Two-bedroom apartments have decreased by $8 (-0.6%).
The most affordable neighborhoods where the asking prices are below the average Dallas rent:
- Southeast Dallas, where the average rent goes for $697/mo.
- Urbandale-Parkdale, where the average rent goes for $710/month.
- Cedar Crest, where the average rent goes for $741/month.
- Arbor Ridge, where the average rent goes for $772/month.
- Arbor Springs, where renters pay $772/mo on average.
- Casa Loma Estates, where the average rent goes for $772/mo.
- Southwest Dallas, where the average rent goes for $791/mo.
- Northwest Dallas, where the average rent goes for $833/mo.
- South Dallas, where the average rent goes for $881/mo.
- Northeast Dallas, where the average rent goes for $910/mo.
- Far North, where the average rent goes for $964/mo.
Texas Real Estate Market: Investment Opportunities For 2021
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Dallas.
Consult with one of the investment counselors who can help build you a custom portfolio of Dallas turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Dallas.
Not just limited to Dallas or Texas but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Dallas turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
Texas is a great market for real estate investing. If you have decided to invest in Dallas, you can either buy a fixer-upper or you may want to buy a Dallas investment property. This market offers a wide range of turnkey investment properties; you just have to find your tenants to rent out the property.
Good cash flow from Dallas investment property means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding the best investment property in Dallas in a growing neighborhood would be key to your success.
When looking for real estate investment opportunities in Dallas or anywhere in the country, the generally accepted standard is to purchase a property that will give you a modest but minimum of 1% profit on your investment. An example would be: at $120,000 mortgage or investment cost, $1200 per month rental. That would be the ideal equation for example. Even with rent increases, buying a $500,000 investment property in Dallas is not going to get you $5000 per month on rent.
The three most important factors when buying real estate anywhere are location, location, and location. The location creates desirability. Desirability brings demand. There should be a natural and upcoming high demand for rental properties. Demand would raise the price of your Dallas investment property and you should be able to get a good return on your investment over the long term.
The neighborhoods in Dallas must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. A cheaper neighborhood in Dallas might not be the best place to live in. A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio.
It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals in Class A neighborhoods. The inventory is low, but opportunities are there. There are 111 neighborhoods in Dallas. Preston Hollow has a median listing price of $1.4M (on Realtor.com), making it the most expensive neighborhood. Pleasant Grove is the most affordable neighborhood, with a median listing price of $159K.
Apart from Dallas, you can also invest in the housing market of Houston. Houston has a track record of being one of the best long term real estate investments in the U.S. The Houston Real Estate Market forecast is good, and current housing prices are relatively low. The Houston metro area offers great opportunities for investors who are looking for a stable market that offers both cash flow and equity growth at a price that is STILL well below their replacement value.
The next one is the San Antonio real estate market. For those who want to invest in rental real estate, the San Antonio real estate market is an ideal location because of the outsized military presence. Fort Sam Houston is located inside the city limits. Lackland Air Force Base, Randolph Air Force Base, Camp Bullis, and Camp Stanley are located in the immediate vicinity. This means that there is a large population that will almost always rent because they don’t know where they’ll be sent on their next assignment.
San Antonio has a dearth of affordable housing because demand is so much greater than the supply. This has created a large number of renters who need to pay quite a bit to rent apartments or single-family homes. We know there is a lack of housing relative to demand when a balanced market has a 6 month home inventory and San Antonio has only a two-month inventory.
The El Paso real estate market is another hot market to invest in. El Paso real estate market was ranked at 4th in Trulia’s hottest real estate markets to watch in 2018. El Paso’s strong job growth, affordability, low vacancy rates, and high population of young households were pivotal in the ranking process. The cost of living in El Paso is lower than the national average, while the cost of housing is well below that of other major metropolitan areas, including Houston and Austin.
The Central, Cielo Vista, and Mesa Hills areas offer more affordable rental properties for sale, while neighborhoods in the northwestern and eastern parts of the metro area have some of the more expensive housing inventory. The amount residents spend on everyday expenses, such as food and transportation, is slightly less than what the average American pays.
The Austin housing market is one hot place to invest in Texas. It isn’t the largest in the state of Texas, but there are several reasons to consider buying real estate in this city. The Austin real estate market has gained a lot of steam, with home values almost doubling since 2010. The Austin real estate market isn’t as big as Dallas, San Antonio, or Houston. One of the long-term strengths of Austin is its diverse economy. The Austin real estate market dipped after the layoffs of the Dot-Com boom. They decided to solve the problem by encouraging medical and biotech employers to relocate to the area, too. As of this writing, there are 85 biotech and pharmaceutical companies in Austin.
Let us know which real estate markets in the United States you consider best for real estate investing!
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