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Updated almost 3 years ago on . Most recent reply

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219
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Tyler D.
99
Votes |
219
Posts

Buying house in area with low percentage of renters. Yay or nay??

Tyler D.
Posted

There's a neighborhood that I love, and I already own a house there (my primary residence). It's awesome for quite a few reasons. 

Part of that being that the houses are quite cheap, but surrounded by much more expensive homes. I have a strong feeling that the neighborhood is going to do very well in the future.

A possible downside is that the own-rent ratio is skewed heavily toward owners. It's about 90% own vs 10% rent. Also, rents would be pretty high for the properties here. We're talking big SFHs with yards, not compact townhouses.

Would I be at a disadvantage buying this property and trying to find renters? There are a ton of good reasons for renters to want to live here, but it seems like most who can afford to rent just buy a house instead.

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