Hi BP Members!
I'm looking to invest in Oxford, MS because the crime rate is low and the schools are great. My only concern is the vacancy rate that I see on neighborhood scout which is: 30%. This concerns me because I don't think anyone would want to own a property that sits vacant 4 months of the year. For those who are investors there, is this number accurate? What are your thoughts on this?
That seems extremely high. It's a college town so this year with covid things have been different with more students doing online classes but even taking this into consideration 30% is high. I'd venture to guess without digging in too deep that vacancy is still 10% or less. If you plan to buy student rentals the vacancy rate may be higher but long term non-student rentals still have a very strong occupancy rate in all of North MS. We have waiting lists for most of ours.
Jimmy, I’m a realtor with an investors eye. I’d be happy to help you evaluate some options here in Oxford. It’s a safe, fun college town. Knowing the area and pricing it appropriately is key to filling your units.
Thanks Clint. That’s very reassuring to hear. I was really surprised to see this, granted it’s a general data of the entire area.
Thanks Zach, I just sent a message to connect and go over some info if you have the time