Is Dallas Good to Invest in Real Estate? Dallas, TX Market Overview
When looking at different cities to start your next real estate venture, Dallas should be at the top of your list.
With its big city lights deep in the heart of Texas, Dallas has the fourth-highest metropolitan population in the country. Dallas boasts close proximity to an international airport, sports stadiums, and multiple colleges, making it one of the reasons more and more companies are relocating to Dallas from around the nation. Because of the fewer business regulations, lower taxes, cost of doing business, Texas is now known to be very business-friendly. With all the businesses and college students moving there, their employees and students need a place to live.
Dallas continues to experience strong population growth, even during recessions. The city boasts a low cost of living with high employment creation and top schools. The need for temporary or rental housing is higher in Dallas than in other cities because of the population’s needs. More people are moving to Dallas because of the low crime risks in neighborhoods, and the growing technology and innovation fields. The top neighborhoods people are moving to in 2020 are Cockrell Hill, Frisco, and Munger Place.
This racially and economically diverse neighborhood has people from all walks of life call it home - including married couples, families, and millennials making a way for themselves.
Frisco is known for its unparalleled school district. Located on the outskirts of Dallas, this suburban town has grown dramatically over the past several years and is ranked #2 of the best neighborhoods to live in the Dallas-Fort Worth area.
With its Prairie-like homes recognized by the US National Register of Historic Places, Munger Place is easily one of the most beautiful areas of Dallas. Munger Place has a high percentage of renters, making it a good area for real estate investors.
Abundance of Land
Texas is the second-largest state with an abundance of land - making investing in the Dallas real estate market a good move for investors. There continues to be a high demand of housing in Dallas, and with an abundance of land to build on, it makes sense to invest in the real estate market in Dallas.
Texas continues to work towards being a business-friendly state. State and local governments, especially Dallas, offer tax incentives to help companies in Texas. Strategic Engagement, the City of Dallas’ economic development plan was approved in 2005, then updated in 2013, and continues to run today.
The Dallas government works with business owners and the community to help them grow and market themselves as a great place to live, work, and do business.
When you ask ‘is Dallas a good place to invest in real estate?’, the answer is a resounding ‘YES!’. With Renovo’s deep ties in the Dallas community, we have the experience and knowledge to get you started on investing in real estate deep in the heart of Texas. Contact us today.