Good News for Landlords: Rents Are Heading Up 5% in Dallas
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Those of us who own rental properties can get ready to fatten our checkbooks: rents are going up in Dallas, by 5%. According to an MSN Real Estate Report, at the end of 2012 the average rent paid in Dallas was $802. I honestly do not know of anyone with rent this low, do you? Rents in Dallas increased 3.9% from 2011, the vacancy rate was only a bit over 5%, and rents are forecast to increase 5% by the end of this year. What might make those rents go up? Scarcity of product. It won’t be scarce for long: an apartment boom has about 20,000 units currently going vertical in Big D, vacancies are down, and demand is up. Dallas is one of ten cities where rents are projected to be on the increase.
Me, I’d rather just buy: the median price for a single-family home in the metropolitan area, which includes Fort Worth and Arlington, was $157,200 at the end of 2012, according to NAR and as reported by MSN Real Estate. When you have landlords like me who will raise rent at a headline glance, I’d rather have a 30 year fixed mortgage on my secure nest egg of a house. Agree?
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Check out my friends at Local Dwelling for your leasing and property management needs: Colin Lardner, Worth Ross, Jason D. Lucas, Jack Evans.
Check out my friends at Local Dwelling for your leasing and property management needs: Colin Lardner, Worth Ross, Jason D. Lucas, Jack Evans.
Local Dwelling indeed! We run LD rentals every Wednesday!
@[100000170683811:2048:Shane Hardin]
@[1309283084:2048:Praveen Chintala]
Local Dwelling indeed! We run LD rentals every Wednesday!
@[100000170683811:2048:Shane Hardin]
@[1309283084:2048:Praveen Chintala]
Most of the new rental product is higher end luxury product. There's going to be a big squeeze in 1100-1800 rent range.
And notice just cme from Dallas Housing Authority (Section-8) regarding the federal government’s sequestration of federal funding. There will be less money coming from the federal govt for this housing.
Take away: if you want to own rental property own the$1100-1800/ month rentals. Call us, that's our sweet spot! http://www.localdwelling.com
Very interesting Colin!
Most of the new rental product is higher end luxury product. There's going to be a big squeeze in 1100-1800 rent range.
And notice just cme from Dallas Housing Authority (Section-8) regarding the federal government’s sequestration of federal funding. There will be less money coming from the federal govt for this housing.
Take away: if you want to own rental property own the$1100-1800/ month rentals. Call us, that's our sweet spot! http://www.localdwelling.com
Very interesting Colin!