Anyone interested in purchasing investment property in the Houston area, take note: Redfin recently ranked Houston as one of the best college town locations to buy.
Redfin analyzed the latest U.S. News and World Report ranking and looked for colleges with low tuition and high-quality education. It also included the median list price for homes in the area and the Walk Score – which is Redfin’s scoring for how walkable a place is.
The current tuition for Rice University is $43,918 and it was No. 15 on U.S. News and World Report’s list last year. Redfin found that the median list price in the area was $239,900 while the walk score was 48.
If you’re looking for an investment home, one near a major college or university is a safe bet. Universities provide a constant pool of new tenants while maintaining stable rent prices. Additionally, selling the home will be easier because there will always be demand near universities. Or if owners want to live in the home in the future, there are plenty of amenities near universities.
“It’s always great to invest in a location where there is a large pool of tenants,” Redfin real estate agent Rory Haigler said in the post. “The pool of potential tenants is also stable with new students coming in every year, so a property owner really doesn’t have to worry about where they will find the next tenant.”