Dallas is the 9th largest city in the United States with a population of just under 1.2 million as of the last census count. This does not take into account the neighboring city of Ft. Worth, just west of Dallas. Dallas combined with Ft. Worth make up the DFW metroplex, which is the largest metropolitan area in the South and 4th largest in the United States. In addition to the large population, the Dallas area boasts some of the following facts. These facts were obtained from visitdallas.com, dallascounty.org, dallascityhall.com, and dallas-ecodev.org.
- Dallas is located in north
central Texas, just 35 miles east of Fort Worth and 245 miles north, northwest of Houston.
overall cost of living is 92% of the national average. Combined with low taxes
and reasonable real estate costs, this helps households make
more of their income go towards improving the individual's
quality of life.
- The Dallas area is home to 24 Fortune 500 companies including Exxon Mobil, AT&T, Southwest Airlines, Texas Instruments, JC Penney, RadioShack, and others that translates into a favorable job market.
recreation, Dallas offers more shopping and
restaurant opportunities per capita than anywhere else in America,
diverse cultural venues from small theater companies and galleries to the
nation's largest urban arts district. Parks, trails, forests and lakes also round out the local opportunities.
The State Fair of Texas is an annual state fair that has been held in historic Fair Park in Dallas
for over 120 years. It usually runs from
late September to late October each year. It is the largest fair of its kind in
terms of annual attendance bringing in more than 3 million people each year.
is home to five professional sports teams including the The Dallas Cowboys
(NFL), Dallas Mavericks (NBA), Texas Rangers (MLB), Dallas Stars (NHL), and FC
Dallas is one of the faster growing cities in America. People continue to flock to Dallas for its access to its, lower cost of living, favorable job market, lower cost of real estate, abundance of shops and restaurants, and friendly southern hospitality. This is why real estate investors see potential in Dallas for rental property investments. Nowadays, the home buying process is a lot more difficult than it used to be so it makes sense that the population growth in Dallas is shying away from buying homes and turning to renting. This poses a great opportunity for real estate investors to find the right deals and capture solid cash flowing properties, and Ashoka Lion can be your strategic partner in managing those rental properties in Dallas and surrounding areas.
Things to consider when dealing with rentals in the Dallas area:
As the landlord and tenant issues grow more complex and regulated in Dallas and surrounding areas, it is important to retain a team focused on the issues of property management. Additionally, these issues are issues for investors who own properties in the Dallas, University Park, Highland Park, Addison, Farmer’s Branch, Richardson,
Plano, Garland, Mesquite, Sunnyvale, Rowlett, Rockwall, and Heath areas.
With the current restricted lending environment, home buyers may have their home buying plans put on hold, and so renting a home in one of these desirable areas is a solid option for many people looking to enjoy the benefits of these suburban areas. As a landlord, you have to be aware that there maybe local ordinance calls that require rental registration, rental inspection, or additional requirements for landlords unique to those local areas.
Dallas offers families and singles big city experiences for the cost of a much smaller market. A diverse housing stock, ranging from historic single-family neighborhoods to high-rise condos, can accommodate any household type. The suburban areas surrounding Dallas also offer solid quality housing options, great schools, plenty of amenities and recreational developments. Dallas overall is a great place for individuals and families alike to live and play.