Denton Property Management
Denton, TX was recently named the #1 small town in the US and the most livable city in Texas.This mid-sized city in the Dallas Forth Worth area offers an attractive real estate market for investors interested in Denton county property management. The thriving arts scene, local universities and healthy economic growth are drawing more and more people to Denton each year, making it a solid bet for investors.
Denton, TX is the county seat of Denton County, which in 2007 was named one of the fastest growing counties in the country and continues to experience rapid growth. Denton is a city located 45 minutes north of both Dallas and Fort Worth. It has a well known downtown area that offers a variety of shops and things to do.
Denton is often characterized as a college town, due to the presence of the University of North Texas and Texas Woman’s University within the city limits. Because of the high number of students, Denton is an extremely active city and attracts over 300,000 people to the city each year for events such as the North Texas State Fair and Rodeo, Denton Arts and Jazz Festival, and 35 Denton Music Festival. It also holds smaller arts, film, and literary festivals.
Not only does the school draw students, it also drives employment in the area. Both Universities and the Denton Independent School District are the largest employers in the city, employing approximately 12,000 people.
What to Expect of Denton Investment Properties
With a wide range of people living in Denton, there are many tenants looking to rent a home in Denton. The employment options in Denton, along with the close proximity to both Fort Worth and Dallas, provide an ideal situation.
With the right tenant screening process in place and recurring inspections, you can be sure that your Denton tenant will take good care of your property, and provide a good return on your investment.
History of Denton, TX
Denton, TX was established in the mid-1800s and named after local preacher and lawyer John B. Denton. It was incorporated in 1866, and quickly became a hub for agricultural trade, particularly in the cottage and mill industries. To accommodate the growing population and create new opportunities, North Texas Normal College (which was later changed to University of North Texas) was established in the late 1800s, followed by Girls’ Industrial College (which was later changed to Texas Woman’s University) in the early 1900s.
As a result of improved highway systems and the opening of the Dallas Ft Worth Airport, Denton, TX experienced rapid growth from the 1960s through the ‘80s, nearly doubling its population. As the population grew, the city experienced an economic growth, with many large manufacturing companies opening shop in the area. This resulted in another near doubling of the population between 1,980 and 2,000.
Denton, TX Population
As of 2014, Denton, TX has a population of 128,205 citizens, up from 117,187 in 2011. The population is split almost evenly between genders, with 52.3% of the population being female and 47.7% being male.
Denton is also fairly diverse; while 58.8% of the population is white, there’s also a large Hispanic community at 22.2%. The rest of the population identifies as African American (11.2%), Asian (3.9%) or Mixed Race (3.6%).
Because of the local universities and the high student population (there’s presently over 50,000 students in residence), Denton, TX is often classified as a traditional college town and, as such, has a median resident age of 28.8 years, over five years lower than the median resident age in Texas. The median household income of $43,976 is also a bit lower than the median household income for Texas, which comes in at $51,704.
Weather in Denton, TX
The weather in Denton is fairly typical of the Dallas Fort Worth Area. The summers have high temperatures and humidity, with average temperatures from June through August falling in the 91-96 degree range. The temperature drops significantly in the winter months, with an average winter temperature of 33 degrees, slightly above freezing temperature.
Rain and thunderstorms are abundant during spring and summer, but the Denton area doesn’t see much snow in the winter, with an average yearly snowfall of just 2.4 inches.
Education in Denton, TX
The city has a thriving education system, which makes it a huge draw for investors interested in Denton county property management and investment. Denton is home to two prominent universities: the University of North Texas and Texas Woman’s University.
The University of North Texas is the fourth largest university in the state, with an enrollment of over 36,000 students across ten colleges and two schools. The university is well known for its early admission math and science academy, the Texas Academy of Mathematics and Science. The academy, which was launched in 1987, hosts particularly promising high school students from around the state during their third and fourth year of high school. This extremely competitive program has been widely praised, was the first such academy in the country, and is still only one of five catering exclusively to high school students.
The other local college, Texas Woman’s University, has one of the most widely respected nursing programs in the country, and boasts the largest doctoral nursing program in the US. While males have the option to enroll, Texas Woman’s University is the largest state-supported women’s university in the country, with over 14,000 students.
The high student enrollment and turnover at these two popular universities guarantee a constant demand in the rental market, making Denton, TX property management an attractive – and lucrative – choice for investors.
Source: City of Denton
Buying Investment Property in Denton, TX
The estimated median home price in Denton, TX was $153,100 in 2013. That’s slightly higher than the median home price in Texas, which comes in at an even $132,000. However, more than half of Denton’s population consists of renters, with the median rent clocking in at $1,500 as of August 2016.
Purchasing investment property in Denton, TX is attractive for many reasons. The high student population offers a competitive and thriving rental market with plenty of opportunities for tenants; it’s rare to find an unoccupied property.
The city itself is an extremely attractive draw for renters. Denton, TX has a thriving arts and events scene: events like the Denton Arts and Jazz Festival, 35 Denton Music Festival and the North Texas State Fair and Rodeo draw over 300,000 visitors, and are heavy favorites with locals. Crime in Denton has significantly decreased over the last decade, dropping over 100 points between 2002 and 2012, and now coming in 50 points less than the US average.
Economy in Denton, TX
Property management in Denton, TX is a huge draw for investors because of its thriving economy. Denton has an unemployment rate of 3.8%, which is significantly less than the national unemployment rate of 6.3%. Job growth over the next ten years is expected to be over 43%.
The variety of job opportunity in Denton is a major selling point for those considering a move. Denton, TX was recently named the #6 High Tech Hotspot in the US, which recognized its huge growth in both digital and technology-related jobs across many industries, including film, publishing and communications. This increase in jobs is starting to attract more young professionals interested in careers in the tech sector.
Denton, TX also has a high number of available jobs in manufacturing, healthcare and retail. Top employers in Denton, TX include Peterbilt Motors, Texas Presbyterian Hospital and Sally’s Beauty Supply Company.
The strong economy and forecasted job growth makes Denton property management an attractive choice; people tend to flock to jobs, and Denton’s focus on creating more jobs in the tech sector means they will continue to attract young talent looking to build a career and plant roots.
Noteworthy Facts About Denton, TX
Here are some other noteworthy facts about Denton:
- Denton ranked #7 in the Human Capital and Lifestyle category of Foreign Direct Investment Magazine’s American Cities of the Future poll 2015/2016. This award was given based on both economic potential and quality of living, and Denton was the only Texas city to appear on the list.
- Denton Municipal Electric currently provides 40% of their energy through wind, which makes them the highest wind energy provider in the nation. This is of particular importance to more environmentally conscious buyers and renters.
- Main Street Denton was recently named one of America’s Best Main Streets by Fodor.com. The historic charm of the downtown area and the wide variety of architecture, food and entertainment is a serious draw for families, students and professionals alike.
- Denton is known around the country for its thriving indie music scene. Denton’s music scene has been featured in the New York Times, the Huffington Post (where it was listed as the #1 Cultural Hot Spot in Texas) and was named Best Music Scene In The Country by Paste Magazine.
Looking for Property Management in Denton, TX?
If you’re looking to invest in real estate, Denton is an incredible choice. The economy is booming, home prices are reasonable and the high student population equates to a steady stream of renters ready to occupy your space.
Do some research on the market and the different neighborhoods in Denton. This will help you decide what the right investment is for your long-term goals. Purchasing a property near one of the university campuses will definitely attract more students, but if you’re looking to attract professionals or families, a property further out might be a better fit.
Once you purchase a property, you’ll definitely want to consider reaching out to a Denton, TX property management company. Property management is a full-time job, and having someone manage the process for you can make investing a significantly less stressful endeavor. And the less stress you have to deal with, the more energy you can put into your real estate investing business.
Investing in property is a huge decision which shouldn’t be taken lightly, but if you’re ready to invest, you won’t find a better area than Denton.
If you have any questions about investing in the Denton, TX area or partnering with a Denton, TX property management company, please don’t hesitate to reach out to LEAP Property Management. Our client-centric approach to property management and experience in managing properties in Denton can be a huge asset to you throughout the real estate investment process. Contact us today by filling out our form, or calling us at 888-729-0622.