If you are in the market for a move and have a bit of flexibility on where you’re going, it pays to know which cities are the best and worst in terms of rent rates and rental conditions. In that same vein, if you’re moving to a specific city, it pays to have this knowledge in order to make the best decisions about living arrangements.
Axiometrics apartment data services and student housing market research assists investors, developers, and property managers in making wise decisions. They put together a comprehensive look at 28 metro areas across the nation in an attempt to gain an understanding about affordability.
To do so, they calculated rent-to-household income ratio, or the amount of monthly income that is spent on rent. Anything above 30% is considered unaffordable. The results can be seen in the feature image above.
We are pleased to find there are no metro areas in Texas that fall into this categorization. In fact, the 3 metro areas spotlighted in the report all fell well under the 30% mark.
Dallas, Texas = 18.2%
Houston, Texas = 20.5%
Austin, Texas = 20.8%
A full list of the results is included here:
How can we help? The professionals at Class A Management are standing by and ready to help you make the most of your multifamily investment. Call us today at 817-284-1411 or send us an email to email@example.com.