Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Buying house in area with low percentage of renters. Yay or nay??
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.