Real estate remains to be one of the most lucrative investment opportunities. Although it is the least liquid, it offers stability, growth, and flexibility in how you want to earn. But where should you buy a home? Take a look at Texas:
Texas is one of the states that experienced a huge boost in net migration, which is the difference between people moving and out of the state. In fact, between 2005 and 2013, it drove about half of the population growth. Around this period, almost 6 million moved to Texas and close to 5 million of them lived previously in other states. Because of its location, Texas is also prone to “illegal migration,” but the number has since dropped.
2. Job Opportunities
One of the primary reasons for moving to another state is employment opportunities. In 2016, at 4.6 percent, Texas has a slightly lower unemployment rate than the national average, which was 4.7 percent. It also fared better than California, which posted a 5.2 percent. The median wage in the state is not that high compared to other states, but this can be offset by the lower cost of living and easy and cheap access to education and health care.
3. Property Values
The median home value in the state is low here but increasing. As an investor, this is a good time to buy since properties are still more affordable. Rent prices average $1,103, which is almost $50 below than the national average, but overall, they depend on many factors like the size and location of the property.
Where to Buy a Home
Texas is one of the biggest states with a lot of metropolitan areas. If you want to get the best value for money, check out these Rockport listings at rockportproperties.com. Rockport home prices are still cheap, but home appreciation has been doing well over the last decade. In fact, it has gone up 8.6 percent in the past year.