5 Reasons to Invest in a Houston Rental Property
If you are considering to invest in rental property, then Houston should definitely be on your map. The local market carries lots of potential for lucrative real estate investments.
The unique economic landscape of Houston and its surroundings will be enticing to prospective investors. When you look at the latest stats and developments in Houston, you’ll quickly note that the future holds plenty to be optimistic about.
This article will provide a list of reasons you should put investment dollars into Houston's real estate market. You’ll learn about the various factors that point to the strong potential of rental property offerings in the metro area.
Here's Why Houston is a Solid Bet for Property Investors
Solid Economic Situation
Every real estate investor is on the lookout for areas that have strong economies and steady job growth. Houston and its surrounding areas fit the bill. In fact, Houston ranks as the second city by manufacturing GDP in the States.
This city is home to the largest medical complex in any country. Texas Medical Center is a powerhouse for healthcare services, medical research, and high-quality education. The medical center is part of a wider ecosystem of biotech companies and excellent hospitals.
Did you know that Houston produces goods amounting to around $80 billion every year? Behind this staggering number is a market of over 6000 manufacturers that provide employment for more than 200 000 people.
All of these key players in Houston's economy ensure that there is a steadily growing need for rental homes, as plenty of people from all over the country consider moving to Houston to pursue job prospects.
Constantly Expanding Foreign Trade
The steady expansion of international trade affects Houston's local housing market. Many people move to the area in order to conduct business. As well as to ensure a seamless international trade experience for their companies. Oil, aerospace, biotech, and healthcare–these are just some of the industries that engage in constant trade. Houston is the busiest port if you look at the international trade numbers. That fact alone looks more than promising to interested investors.Rising Population
Houston is the largest city in Texas and it’s the fourth biggest city in the U.S. population-wise. In the previous decade, Houston added over a million residents, exceeding the 7-million mark.
The strong economy and trade expansion are the key factors why Houston keeps on growing. The state of Texas has predicted that its total population may double by 2050. A considerable portion of this growth is going to be in booming metro areas like Houston.
At the same time, it’s important not to forget that Houston sees a remarkable number of annual visitors as well. These people are going to want short-term rental spaces. This means that holiday rental style accommodation could be your investment strategy.
Top-Rate Educational Opportunities
Education is one of the major variables behind sustainable growth. As an investor, you want to make sure that there is enough educational opportunities to create long-term value. Houston has that covered. You can find over 40 universities and colleges in the area. Additionally, families with children appreciate the Houston Independent School District. It’s the largest in the area with close to 300 schools and over 200,000 students in its educational system.Potential for Further Development
Houston is still growing and it has enough space to continue further development. Numerous neighborhoods have vacant lots that can be used for the construction of new buildings.
Since the infrastructure is great, the cost of developing new housing is more affordable compared to other major metropolitan areas. Houston can offer you diverse ways of making real estate investments if you're creative.
What Are the Top Areas to Invest in Houston?
Let's take a closer look at some of the best neighborhoods in Houston for real estate investments.Museum District
The Museum District offers a variety of home styles. Stylish high-rise condos and magnificent mansions are only a few examples of what you can invest in. As its name implies, this district is a real treat for art and museum lovers. Museum District is home to 19 different museums, including Houston Contemporary Arts Museum.Memorial
This area is great investment due to the amount of people who do not want be directly in the city. Memorial is an excellent residential area since it is close to the Downtown while retaining a small-town feel.Houston Heights
Would you like to target people preferring a highly-walkable neighborhood? This is another community that offers small-town living that comes in a larger package of all the metro-area amenities. Most of the housing here is bungalow style, but you can find townhomes, too.River Oaks
This is an upscale community. It is regarded as one of the most high-end neighborhoods that you can find in Houston. The River Oaks District provides great access to luxury retail and fine dining. There are numerous new developments in River Oaks that go for top dollars.In a Nutshell: Why Invest in Houston?
The Houston Metro Area is an excellent place for those considering purchasing a rental property. You'll have a rich variety of neighborhoods to choose from. The economy, job market, and active foreign trade all point towards a sustainable investment portfolio growth in the area.
Some of the most intriguing neighborhoods for investors in Houston include Houston Heights, Museum District, Memorial, and River Oaks. As with any other investment, spend plenty of time on detailed research and explore the options available to you in-depth.
If you're considering an investment in the Houston area's real estate market, get in touch with the team at OmniKey Realty. We have experience providing real estate investors with everything they need to be successful.
