7 Best Cities For An Income Property Investment

The key to a successful income property is consistent renters. You want to find property near colleges or universities to keep those rent checks coming in. Similarly, a property in a neighborhood full of young professionals, who just aren’t quite ready to buy, can be a good spot to get consistent rental income. Whether you’re looking for your first income property, or just looking to add the latest to your growing portfolio, here are 7 cities you should check out:

Madison, WI

Madison boats the University of Wisconsin which fuels the city’s cool, carefree college-town vibe. You can capitalize on an income property by catering to Madison’s undegrads. Take a look at Madison’s Regent neighborhood, which borders campus for some good income property options. Homes in this part of town average of 354,056 but can always be counted on for a constant stream of renters. A startup community in Madison is also bringing a new crop of young renters – you can guarantee that Madison is quickly becoming a premier spot for income properties.

Boulder, CO

Boulder is on the verge of major changes and you can cash in on them. A brand new expanded Google campus is coming to town and bringing with it 1,000 new jobs. A new wave of renters is on the horizon for you. Check out Boulder’s investment opportunities before it’s too late.

Austin, TX

Austin has been making headlines as a millennial mecca for quite a while now- and it’s for good reason. The city’s mix of music and small town living is a huge draw for young families looking to rent. That’s a huge benefit as a landlord, because you won’t have to worry as much about turnover. Family renters will be longer-term and more reliable.

Washington, DC

You might be able to catch deal on a DC income property because prices are down 6%, It should be a good buy because in DC you’ll never want for renters. With a ton of colleges and young professionals around, their fear of commitment to a mortgage is your gain. Have you already started counting rent checks in your head? – we have.

Chicago, IL

Chicago‘s got the industry, culture, and history that consistently draws in the renters you’re looking for. Don’t count out the city’s collegiate set either – when all those students get tired of student housing, you can be there with the ideal property for them to rent.

Dallas, TX

Dallas is one of the hottest housing markets in the country. Like Madison, its got a growing tech sector which, for you, translates into renters. Forbes, even just named the city a possible heir to Silicon Valley. Yep you heard us, we said Silicon Valley – rental income with the potential for a lot of equity? Sounds good to us.

Baltimore, MD

A handful of colleges and a lot of recent development gets Baltimore on our list. Up and coming areas with young renters are springing up all over town. Those changes mean bigger rental checks for you. With the average home at just $185,048, the city could offer you a lot of bang for your buck.

Buying a property from out of state can be really difficult. You’re not there to deal with the day to day – inspectors, appraisals, and handymen. By finding the most-trusted and most experienced agent who can handle the day to day for you, buying your new income property just got a whole lot easier.