With the US real estate market managing to thrive during the coronavirus pandemic, many investors are beginning to make plans to enter the market this year.
In this year’s report, the effects of COVID-19 were analyzed among other market factors in order to rank US cities in the Markets to Watch list. Those listed below ranked in the top 10 for overall real estate prospects.
Dallas/Fort Worth, Texas has been ranked #4 in the nation. Those predicted market trends are listed below.
The Dallas/Fort Worth market has moved up the list from #6 in 2020 to #4 for 2021.
This points to a positive job outlook, with the report estimating that cities like Dallas/Fort Worth will see 28% new jobs from 2019 – 2025.
A diverse economy and a growing job market definitely earn the Dallas/Fort Worth housing market a spot on the list of the best places to invest in real estate. The location ranked #2 for its local economy.
Those looking to enter the residential market should know that the renter population is high in both locations: 59% for the Dallas real estate market and 44% for the Fort Worth real estate market.
Fort Worth Real Estate Market Statistics:
Median Property Price: $324,337
Price per Square Foot: $152
Price to Rent Ratio: 16
Traditional Rental Income: $1,655
Traditional Cash on Cash Return: 2.7%
Top Fort Worth Neighborhood for Real Estate Investing: Village Creek
Forecasted Real Estate Appreciation for 2021: 7.3%
Dallas Real Estate Market Statistics:
Median Property Price: $490,477
Price per Square Foot: $227
Price to Rent Ratio: 21
Traditional Rental Income: $1,966
Traditional Cash on Cash Return: 1.9%
Top Dallas Neighborhood for Real Estate Investing: Reunion District
Forecasted Real Estate Appreciation for 2021: 6.1%
Other Dallas/Fort Worth Housing Market Rankings for 2021:
#3 for Homebuilding Prospects
#2 for Real Estate Investor Demand
#9 for Development and Redevelopment Opportunities
#2 for Availability of Debt and Equity Capital
This list is based on the PwC’s Emerging Trends in Real Estate 2021: US report. The annual report put out by the PwC and the Urban Land Institute features key data, trends, and insights from over 1,600 real estate experts. https://www.mashvisor.com/blog/best-places-to-invest-in-real-estate-2021/