Killeen Rental Insight

[Chris Leininger]

I'm interested in some older duplexes near Fort Hood as long-term rentals. Can someone with experience with comparable properties tell me what idiosyncracies I will encounter in the market?

Any information related to lease-breaking frequency, vacancy allowances, changes in housing demand and supply, now or in the future, would be appreciated.

[Brian Adams]

Older? Wherabouts? Expectations may differ wildly depending on the age and area. 

Killeen generally is going to have higher turnover than most areas, especially multi-family units.  But prices are very affordable and it's generally a good rental market.  I plan on a 90% occupancy rate and in my experience have found that to be conservative for my units.

Lease breaking - again, being military, soldiers can break a lease with orders.  But generally you can expect two to three years per tenant.

Supply certainly has kept up with swelling demand, and prices are stable.  Inventory is creeping down a lot, and I've seen a rise in interest in multi-families (and commensurate rebound in multi-family prices). 

I myself am a real estate agent in Killeen and own a fourplex here and would love to own more.