It is no secret that Dallas and its suburbs are a great place for real estate investors. The emergence of the high-tech industry, the strong medical sector, and the growing number of residents flocking to Texas have primed the investment waters for in-state and out-of-state real estate investors. From Plano to Grapevine, we have the inside scoop on the best Dallas suburbs for investment properties.
What Dallas Suburbs Should You Invest In?
Discover the perfect investment opportunity in a multitude of Dallas suburbs. Here are three great options for your real estate investment:
Plano, Texas is only 20 minutes north of Dallas. With easy access to DFW International and Dallas Love Field, traveling to and from Plano is an easy endeavor. All you need to do is choose from over 2,000 daily flights. Once you are in this beautiful Dallas suburb, you can hop on the DART light rail line to further explore the area. From museums to downtown shopping, restaurants to wine bars, Plano has everything you need to enjoy a vibrant and culturally rich lifestyle.
The real estate market in Plano, Texas currently shows an average listing price of $512,987. There are approximately 454 homes for sale and the median monthly rent remains steady at $1,950. One of the reasons that so many people flock to Plano, Texas is the great school system. With an 8 out of 10 greatschools.org rating, some of the top schools include Andrews Elementary School, Haun Elementary School, C.M. Rice Middle School, and Jasper High School.
Additional reasons for living in Plano include the moderate climate, thriving tourist economy (you can visit the site of the hit show “Dallas”), and the warm, welcoming environment.
Frisco, Texas is a Dallas suburb that attracts a large family population, which makes it a great place to own an investment home. Whether you are looking to own a vacation rental home or prefer to target year-long tenants, Frisco has a lot to offer. From a number of nationally ranked spas to amazing art exhibits, Frisco is a superb place to visit and live.
The current real estate market shows that the average listing price is $512,402. There are a projected 589 homes for sale and the median rent per month has grown to $2,100. With over 42 schools, a 9 out of 10 rating on greatschools.org, and an abundance of activities for kids, it is safe to say that Frisco is a family-oriented Dallas suburb.
As a potential site for your next real estate investment, it is important to note that Frisco has recently experienced a large growth in the population and economic sectors. As more growth is projected for the area, Frisco is primed to become a hotspot for real estate investors. From the one-of-a-kind Texas Sculpture Garden to the minor league baseball team, Frisco is a vibrant suburb that has a lot to offer to visitors and residents.
Grapevine has a “Texas-sized” list of fun things to do. From shopping to wineries, museums to a great nightlife scene, Grapevine is an incredibly popular Dallas suburb. In recent years, Grapevine has experienced good growth patterns, which have contributed to a strong real estate market. Currently, the average listing price is $367,261 and there are only 61 homes listed for sale. The average monthly rental rate is an impressive $2,300, which is a strong indicator of potential ROI for Dallas real estate investors.
One of the greatest reasons to own a real estate investment property in Grapevine is the incredibly vibrant lifestyle that this Dallas suburb has to offer. Over 200 restaurants, numerous winery tasting rooms, a “Historic Main Street,” and a nature lover’s perfect getaway, Grapevine has a little something to offer everyone.
Discover the Perfect Dallas Suburb for Your Next Investment
The beautiful part about investing in Dallas suburbs is that there are so many to choose from. While we didn’t include Denton (home to the University of North Texas), Flower Mound (the perfect place to enjoy a day outdoors in the parks with your family), and McKinney (with its great grade school system), there are lots of suburbs around Dallas that offer the perfect investment opportunity.
To learn more about investing in Dallas and the surrounding area, contact a member of the LEAP Property Management team today.