The Forbes “Where to Invest in Housing in 2017” list is out and the Texas is in! The Lone Star State is home to three of the Forbes ranked top real estate investment markets, with Dallas ranked as #1, followed by Fort Worth as #9. DFW is blowing and growing!
The methodology behind the list factors in five key metrics: job growth, population growth, home price appreciation, affordability and Local Market Monitor’s three-year home price forecast. Here’s some other facts worth noting:
- Dallas Single-Family Residential (SFR) 3bd Home Price: $101,000 in 2016, a 31.1% increase from 2011 – the national average is $109,117
- Dallas SFR 3bd Median Rent: $1,563 in 2016, up 29.7% from 2011 – the national average is $1,341
- Dallas Unemployment: 4.1% in 2016, down 14.6% from 2011 – the national average is 5.2%
The Dallas economy has shown major signs of growth, adding nearly 145,000 new residents and over 166,000 new jobs in 2015. And with the increase in both average home price and rental rates, investors in the Dallas metro area are seeing average gross yields of 11.1%. The Dallas metro is the 4th largest Metropolitan Statistical Area (MSA) in the U.S. with a population of over 7 million residents. The city is diverse in both demographics and economic driving industries which include retail, healthcare and food service.
Now THAT’s a hot market that doesn’t require air conditioning!
Efurd Properties is a one-stop shop offering full real estate brokerage services as well as property management and maintenance services. Give us a call – we’re easy to reach – it’s a promise!