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Wednesday, October 28, 2020
Real Estate Looking to invest in homes? Look to Texas

Looking to invest in homes? Look to Texas

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Fort Worth has made another list! That’s hardly news these days. This time Fort Worth, along with Austin, Houston, San Antonio and Dallas are all in the top 20 as sure bets for single-family investment property markets.

That, according to year-end data compiled by Local Market Monitor, a national real estate forecaster, and Dallas-based HomeVestors of America, the “We Buy Ugly Houses” company. “The real estate markets that made the top 10 list for investing were chosen based on population growth and it’s near cousin, job growth – both conditions ideal for investing in single family homes,” said Ingo Winzer, president and founder of Local Market Monitor. “In all of the top 10 markets, the populations increased by more than double the national average of one percent.”

Topping the list were two Texas cities, Austin at No. 1 and Houston at No. 2, with other Southern cities of Raleigh (3), Nashville (4) and Orlando (5) rounding out the top five. “Texas has always been a sweet spot for real estate investing. Its economy is strong, and only getting stronger. This is spurring population and job growth, especially among younger workers looking for work in retail, business and tourism. They are looking to rent, not buy a home,” said David Hicks, HomeVestors co-president. Along with job growth and population growth, relatively low home prices is a factor making investments in single-family homes as rental properties a low risk opportunity in some markets. The average home prices in the top 10 markets are under $300,000, although the markets listed among the top 20 range from $166,000 to $844,000. Despite high home prices, a few California markets made the top 20, including Oakland-Fremont-Hayward (15), San Jose-Sunnyvale-Santa Clara (19) and the San Francisco Bay area (20).  

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