Market Spotlight: Dallas, Texas
Arguably the most important factor to evaluate when selecting a real estate syndication investment is the local market of the target property. The age-old axiom of Location, Location, Location has stood the test of time for good reason. Investors should target markets with growing populations and employment opportunities which leads to higher rent prices. Combine this with business-friendly environments and a low relative cost of living and you have a winning formula.
The market we will be exploring today is Dallas, Texas.
Dallas is the 3rd largest city in Texas and the 4th largest metropolitan area in the country, home to more than 7.5 million residents
The GDP of the Dallas-Fort Worth-Arlington, TX MSA is nearly $524 billion, increasing by more than 60% over the last 10 years.
The city was ranked as the 2nd best place for business and careers in the U.S.
Baylor Scott & White Health, Texas Health Resources, Lockheed Martin, University of Texas Southwestern Medical Center, and Medical City Healthcare and the largest employers in the area
Major colleges and universities in Dallas include University of Texas at Arlington, University of Texas at Dallas, University of North Texas, and Southern Methodist University.
Economic growth is supported by a diverse mix of industries including building design and construction, company headquarters and operations, food manufacturing, IT services, logistics, and telecommunications
Four major interstate highways, two commercial airports, and a number of mass transit systems make Dallas a transportation hub
Key Real Estate Investment Drivers
Rent prices in Dallas have increased more than 15% year over year led by a demand projected to remain strong
Dallas is ranked as one of the best places to buy rental property in 2021, based on key investment criteria such as cash flow, appreciation, affordability and a growing population and job market
44% of housing units in Dallas are occupied by renters due to high home prices, a growing population and thriving job market
The Dallas-Fort Worth population is projected to grow by almost 18% from 2020 to 2029, which would be the largest population growth in the U.S.
Cost of living is over 50% less than New York, led by 78% lower housing costs
Dallas is ranked among the best places to live and retire in the country, based on factors including job market, value, quality of life and desirability
Dallas is also ranked as one of the top places for young professionals in America
As we can see from the data, Dallas checks many of the boxes that real estate syndication investors are looking for in a local market. Finding the correct property and sponsor are still critical components of a successful no-hassle, hands-off investment, which is where our company can help.
And if you’re interested in learning more about investing in a real estate syndication, download your free copy of our eBook, Achieving Financial Freedom by Investing in No-Hassle, Hands-Off Real Estate