A new year brings plenty of opportunities for growing your business, especially if you’re investing in Texas property.
Looking forward to the Texas real estate market trends for 2020, property investors should feel confident. For investors looking for income producing property. whether commercial or residential, the Lone Star State has plenty to offer.
Texas rental property investment trends in housing for 2020 show competitive promise. Take a look.
Housing Market Trends in Texas
Affordable is the catchphrase in the Texas housing market. The median Texas investment property price is less than $325,000. Texas house prices are lower than the US median property price, which is slightly higher.
This means opportunity for all investors, beginners or experienced. Depending on the city, of course, Texas house prices vary. There are some Texas cities well below the median property price. Here’s an example of five of them.
Median Property Price: $173,618
Price per Square Foot: $102
Median Property Price: $200,675
Price per Square Foot: $98
Median Property Price: $202,510
Price per Square Foot: $105
Median Property Price: $206,826
Price per Square Foot: $120
Median Property Price: $214,713
Price per Square Foot: $100
Median Property Price: $234,337
Price per Square Foot: $111
The national U.S. average for appreciation in the housing market this year is 2.8 percent. The Texas housing market is projected to appreciate by 3.0 percent. Long-term rental can be profitable in this scenario.
Dallas and some of the surrounding cities have an appreciation rate above the state’s estimated rate. These cities include:
- Irving – 5.0 percent
- Dallas – 4.5 percent
- DeSoto – 4.5 percent
- Arlington – 4.2 percent
- Edinburg – 4.2 percent
- Mesquite – 4.2 percent
The challenge of managing residential properties or commercial properties is a colossal investment of time, energy, and resources.. That’s why most successful rental property owners rely on professional property management companies like us. Cousin James Management is a trusted, family-owned business that has been expertly caring for commercial and residential property throughout the North Texas area for more than 20 years.
While you’re busy locating the best investment properties in Texas, we will manage everything from finding quality, long-term tenants, vetting and processing them, and even take care of the monthly rent collection. We have a bevy of contractors who can fix or remodel just about anything, so maintenance is never your problem. When you work with Cousin James Management, there’s very little left for you to do except enjoy the rewards of your investments. Contact us today. We’re here to help.