The Bayou City is open for rent! The average rent price per month in Houston was $1,233 in May 2022. Houston is more affordable for renters than Dallas and Austin, so you have ample opportunities to make money off of renters.
But some parts of Houston are better for renters and investors than others. If you want to turn your investment into a steady profit, you need to study the best neighborhoods in Houston.
What are the most popular neighborhoods for families, professionals, and commuters? How can you market your properties effectively? Where should you invest with help from others?
Answer these questions and you can turn Houston into your personal piggy bank. Here is your quick guide.
Greater Heights
Greater Heights is in northwest Houston. The neighborhood is close to Highway 10 and Interstate 45, making it a good place for commuters and people who need to travel for work. It is also close to various public schools, making it a good community for families.
Greater Heights has several parks, which reduces the amount of space for new investments. However, the parks are extremely popular, so you may be able to charge higher rent for properties near the parks.
East Downtown
East Downtown or EaDo is a separate neighborhood from the downtown district. Developers have invested more than $250 million in the community in recent years. New restaurants, shops, and sporting centers have opened or will open in the neighborhood.
Investing in property in EaDo may lead to a quick return on your investment. But it can also be hard to find a new place to open to renters. You should talk to a real estate professional and move quickly so other investors do not buy your property before you.
Uptown
Uptown is located near The Galleria, a retail complex with department stores and boutiques. You may find dozens of renters who want to live near The Galleria for easy access to shopping and retail jobs.
Uptown also has numerous office buildings, including consulates-general. Consider marketing your rental property to businesspeople and international travelers.
River Oaks
If you want to invest in a residential community, you should look for properties in River Oaks. The community spans hundreds of acres, but it is also close to the freeway system and important streets like San Felipe Street.
Properties can be expensive, especially if you are new to investing in rental property. Try to pool resources with other investors and use their connections to advertise your rental. To increase your rental property income, create a laundry facility in your rental and offer perks like high-speed internet access so you can charge higher rental fees.
The Best Neighborhoods in Houston
The best neighborhoods in Houston may surprise you. Greater Heights offers close access to major roadways and schools, so you can market your property to many different people. If you want to focus on young people or professionals, you should invest in East Downtown and Uptown.
River Oaks is a quiet residential area, making it better for people with higher incomes. Properties can be expensive in East Downtown and River Oaks, so work with others on your investments.
Wherever you invest, you need smart property managers. HomeRiver Group Houston serves Houston-area landlords. Contact us today.
