The North Richland Hills area has a population of approximately 68,000. There’s a median household income of $66,000. It’s an upper-middle-class area with an average income of just over $125,000 for a family of four.
There are nearly 28,000 housing units within North Richland Hills. More than 10,000 of those are rental properties.
Keep reading for the top 5 benefits of buying income property in North Richland Hills.
Property Value and High Occupancy Rate
The average property value is just over $215,000. North Richland Hills is a great place to consider income property investment. One advantage is the area’s high occupancy rate.
37% of properties are rentals and only 6% are vacant. The average monthly rent in North Richland Hills is over $1500. The right financing can easily have rental income cover the investment mortgage.
16% of homes were built in the past twenty years. This means there are fewer renovations and repairs to worry about.
Low Crime Rates
The North Richland Hills violent crime rate of 1.85 is well below national and state averages. They hover around 4.
Property crimes also come in far under state and national property crime rates.
More than 20% of North Richland Hills residents have a bachelor or graduate degree. Over 92% have their high school diploma.
Education is an asset to income property investors in this area. Two school districts serve North Richland Hills to educate the younger generation.
There are several high-quality schools to choose from here. This increases the attractiveness of the neighborhoods to families.
Technology is booming in North Richland Hills. There are more computer-oriented jobs here than 95% of US cities.
Income Property Investment is Easier Than Ever
Investors have a wider array of mortgage options available today. It’s easier than ever to become a property investor if you do your research on real estate trends.
North Richland Hills is a growing community that has a lot to offer its residents. It’s the perfect place for income property as more families discover the benefits of the area.
The housing market in North Richland Hills is doing well and all indications are that it will continue to do so.
Families Love North Richland Hills
North Richland Hills has several positive qualities to attract long-term tenants. Lower than the average cost of living is a benefit of the area.
It’s a thriving business and technology community. It offers career and advancement opportunities not available in many cities.
There are hundreds of acres of parks and nature to explore. Residents can have the feeling of rural living while still being near big city life. You’re only a half hour drive from Dallas.
Arts and entertainment abound in North Richland Hills. Museums, art galleries, and amusement parks give lots of recreation and relaxation. If you’re a Cowboys fan you’re within an hour of catching a game.
The aquarium is also less than an hour away giving you lots of options to fill family days.
Sports are a major focus in the community with lots of opportunities to be involved. There are top quality sports facilities and various teams to join. Your family can easily enjoy your favorite recreational activities.
Live The Dream and Let Your Money Do the Work
Property investments can make your money do the work while you live the dream. If you do your research and are smart about your investments its possible to come out ahead. You can do so with very little effort.
Check out our blog for more tips on income property investments and real estate trends.