Are you looking to invest in Austin, Texas real estate?
One of the greatest ways of attaining passive income is by investing in rental properties. You can expect a fixed monthly amount in earnings and take advantage of any increases in property value due to estate appreciation. Consider investing in the city of Austin estate market!
Keep in mind that not all real estate markets don’t perform similarly. Thus, you need to put in the time to research trends before investing. Look for a place where the economy is stable, the job market is strong, several attractions exist and the rental market is thriving. If you want to start your real estate investing journey, Austin investment properties are a great choice!
Real estate investments are a great way to build your portfolio. Being a real estate investor offers many opportunities. Picking a real estate investment in the Austin estate market is a wise decision given that it incorporates all the factors mentioned. If you want to invest in property, consider Austin’s market since it can be financially rewarding. Consider partnering with a property management or real estate company to oversee your investment. Realtors and property managers can take your investment to success!
In this article by Rollingwood Management, Inc., we offer the top reasons to purchase a property in the city of Austin, Texas. You’ll increase your awareness of what makes this area desirable as a highly profitable investment. Get it touch today to start considering an Austin investment property!
Why Invest in Austin, Texas Rental Properties
Strong Local Economy
One factor that makes Austin, Texas a good area to invest your hard-earned savings into is its solid economy. The many business opportunities in Austin catapults it into the list of best-performing cities in comparison to others in Texas.
It has seen steady job numbers and has also become the center for business and industries in technology, manufacturing, financial services, insurance, data management, and space technology. This leads to more stability in the area. Its major employers are the State of Texas, City of Austin, Dell Technologies, Apple, Samsung Austin Semiconductor, The University of Texas at Austin, and the Federal Government.
The stable Austin economy puts real estate investors at ease and inspires them to broaden their property investments.
Population Growth
A growing population translates to a robust job market. It also forecasts greater rental demand for residents. Austin, Texas succeeds in this front making it more appealing to real estate investors.
The population in Austin increased by over 20% in 2020 alone. This level of population growth is comparable to the cities of New York, Houston, and Fort Worth. Austin has landed in the second spot for the fastest growing city in Texas behind Fort Worth.
Some of the new locals are attracted to the progressive tech industry, zero personal income tax, and friendly-friendly community. The cost of living is also considerably lower compared to other urban cities making Austin irresistible.
Hot Real Estate Market
The real estate market in Austin continues to grow. Investors would find it beneficial to capitalize on the demand for real estate housing among renters. Real estate investors have been turning to Austin given its vast housing market. As a magnet for entrepreneurs and professionals at top-tier corporations, Austin’s real estate is in heavy demand.
New residents need housing which has garnered more attention from investors and developers. They launch construction projects to serve the demand for rental properties. Real estate investors have stepped up and created more housing as a response to the rising rental property demand.
Homes enjoy great appreciation in value over time in Austin making it beneficial for property owners to buy now. The annual growth of home values has been nearing 90% for the past 5 years.
Healthy Rental Market
If you take a look around Austin, rental properties and investment properties have been popping up more and more. Single-family homes for rent have also increased in line with the housing demand from renters. This is a great time to make an Austin real estate investment!
One of the prominent trends in the area is build-to-rent projects from investors. Initially, rent prices went down during the peak of the pandemic but have gained an almost 20% increase as of the middle of last year. The pace of rent increase has skyrocketed given that more people are choosing to reside in Austin.
The low availability of rental spaces has only pushed the rent rates upwards. This is why more construction projects are undertaken and investors are opting to build multiple rental spaces to serve the booming market and capture the opportunity of gaining higher profits with the rent increase.
Plenty of Local Attractions
Residents in Austin experience a high quality of life given the easy access to cultural entertainment, dining locals, and outdoor recreational experiences.
Here are some things available to see and do in and around Austin, TX:
- Watch the sunset at Congress Avenue Bridge
- Check out a live music session at the Continental Club
- Soak in the artistry at the Blanton Museum of Art
- Have a great dinner at the Franklin Barbecue
- Refresh from the summer heat by dipping at the Barton Springs Municipal Pool
- Explore the bars and restaurants clustering Rainey Street
- Schedule some hike sessions to appreciate amazing views at Mount Bonnell
The Bottom Line
Austin provides a fantastic quality of life for its residents and a massive opportunity for real estate investors. Austin, Texas has a strong local economy, solid population growth, a hot market, a healthy rental market, and numerous local attractions. This is a great opportunity that’s too good to pass on for real estate investors.
If you’re new in the field of property investing, consider hiring professionals at Rollingwood Management Inc. With our property management services and the industry knowledge you can rest easy knowing that your best interests and your investment property is protected. Contact us today to learn more about what we do and how we can help!