Over 1.4 million people currently live in Dallas, Texas. And populations are rising. That makes Dallas a great place to invest in real estate.
But, what are the best areas in Dallas to buy property in?
We've got you covered. Let's go through the top Dallas neighborhoods you should invest in.
If you're looking for an investment that will never go out of style, you should definitely consider investing in Uptown Dallas. It's a popular area for young professionals, so if you're looking to buy an apartment building, Uptown is one of your best bets for Dallas real estate investing.
Uptown Dallas is also a decent place for commercial investment, too. Because it's a walkable neighborhood, it's a good place to own a business people might want to stop in on when they're wandering around.
However, it's a more expensive neighborhood to invest in, so real estate beginners might want to start out somewhere else.
If you're looking for a more suburban investment, consider Cedar Crest. Over fifty percent of households in this neighborhood are renters, so your investment property will be in high demand.
Cedar Crest is also a less-densely populated area, with a population of around 7,000. The average home price in Cedar Crest is much less than the national average, hovering at about $80,000.
Since home prices tend to go up, buying a residential home in Cedar Crest and renting it out can get you a return on your investment in no time at all - and, if you decide to sell, you're sure to get even more bang for your buck.
Highlands of McKamy
If you're interested in investing in student housing. Highlands of McKamy is a great bet. It's located near the University of Texas at Dallas, so it's an easy commute for students. It's also mostly populated by renters.
Because of its proximity to the university, it's also a great place for commercial real estate. Bars and coffee shops, for example, are popular businesses for students to visit, so owning them in high-traffic areas can be lucrative.
Of course, managing student housing can be a headache. There tends to be a lot of turmoil. That's where a property management company can help ensure that everything is under control.
For a more affordable investment option, consider Vickery Meadows. This is one of the most apartment-building-heavy neighborhoods in the city, which makes it a popular place to live - and a good place to invest.
However, Vickery Meadows isn't a great place for commercial investment, since it is almost exclusively residential. So if that's your interest, you'll probably want to look elsewhere.
Dallas Neighborhoods: Now You Know
There are a lot of great Dallas neighborhoods you could invest in. You just need to make the right choice for your financial needs.
Do you need help managing your new investment properties? Contact us at HomeRiver Group Dallas/Fort Worth today.