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Updated almost 5 years ago, 01/21/2020

User Stats

31
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3
Votes
Demetre Dyse
3
Votes |
31
Posts

Interested in College Station TX

Demetre Dyse
Posted

I have an investor that is looking to clear up some assets to invest in the Austin and College station market. He is mainly interested in multi family properties close to a university. I heard that Texas A&M has one of the biggest Campuses in the state.

Does anyone know the average rent for off campus students? And is there any special requirements or students renting off campus?

User Stats

237
Posts
155
Votes
Kobe Xin
  • Real Estate Agent
  • Houston, TX
155
Votes |
237
Posts
Kobe Xin
  • Real Estate Agent
  • Houston, TX
Replied

@Demetre Dyse

Hi! I am currently looking to invest in the same area as a house hack. From what I’ve looked at so far, it looks like the average rent for an apartment is around $1,200. But when you look at rental rates for individual rooms (which are what a lot of students are looking at) the rates seem to be a little higher somewhere around 400-700 per room depending on the property. Again I have not yet invested in the area and these statistics are just from what I’ve looked into so far. Hope I helped!

User Stats

1
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1
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Jonathan Chandler
  • College Station, TX
1
Votes |
1
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Jonathan Chandler
  • College Station, TX
Replied

Hey! I am an agent in Bryan/College Station. For off campus single-family homes it’s about $1200-$1500/mo for a 3 bedroom house and about $1600-$1800/mo for a 4 bedroom house.
Let me know if I can help!

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User Stats

31
Posts
3
Votes
Demetre Dyse
3
Votes |
31
Posts
Demetre Dyse
Replied

@Jonathan Chandler

Thank youb for the information. What about for apartment renting? Do you know the average rents for students living in apartments?

User Stats

128
Posts
68
Votes
Chris Quinn
  • Realtor
  • College Station, TX
68
Votes |
128
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Chris Quinn
  • Realtor
  • College Station, TX
Replied

I'm not sure if A&M still requires freshman to be on campus. Housing prices (SFH, MF, and apartments) all can vary depending on neighborhood class, size/location, time of year you're trying to fill it, quality of finish out, etc. However, College Station-Bryan, Texas, had the biggest share of renters nationally with 59.1 percent of the population being renters, there is no shortage of tenants. (That 59% does not include a majority of students, as most students do not update their address to B/CS.) Due to the influx of high-rise student housing near campus that opened in the past 24 months, some investors have seen a decline in rents due to higher inventory. Not all, but some. As both an investor and agent born and raised in B/CS, I feel confident in our market and will continue to pump my money in it!

User Stats

454
Posts
273
Votes
Michael Dang
Pro Member
  • Rental Property Investor
  • Houston, TX
273
Votes |
454
Posts
Michael Dang
Pro Member
  • Rental Property Investor
  • Houston, TX
Replied

Chris is correct.  The new supply over last couple years has increased vacancy rates and from a recent market report will continue throughout this year.  CS is a solid market I've seen a couple multifamily deals get picked up very quickly due to attractive prices.  

Ask for some market reports and go do market surveys.  Nothing like hitting the pavement.

  • Michael Dang
  • User Stats

    519
    Posts
    490
    Votes
    Pete Harper
    • Rental Property Investor
    • Streetman, TX
    490
    Votes |
    519
    Posts
    Pete Harper
    • Rental Property Investor
    • Streetman, TX
    Replied

    Echoing what others have said. Student housing IMO is overbuilt in BCS. There are a number of huge A+ class complexes that have been built right off campus. These complexes have full amenities, pool, jacuzzi, weight room and etc. This has put a lot of pressure on older properties. That being said there are still good investments just outside the A&M bubble. C class properties that house the people that work on campus. I own two properties within three miles of campus that do well. For C class rents are higher in BCS compared to most of Central Texas. 2BR apartments go for $700-750. Similar property in Killeen only rents for $650. 

    User Stats

    128
    Posts
    68
    Votes
    Chris Quinn
    • Realtor
    • College Station, TX
    68
    Votes |
    128
    Posts
    Chris Quinn
    • Realtor
    • College Station, TX
    Replied
    Originally posted by @Pete Harper:

    Echoing what others have said. Student housing IMO is overbuilt in BCS. There are a number of huge A+ class complexes that have been built right off campus. These complexes have full amenities, pool, jacuzzi, weight room and etc. This has put a lot of pressure on older properties

     

    I will say that the price points for the above mentioned complexes are ranging $600-900/mo PER ROOM. While this does have an impact on vacancy across the board, I feel the types of students renting these units are not the same as people renting $300-400/mo. rooms

    User Stats

    128
    Posts
    68
    Votes
    Chris Quinn
    • Realtor
    • College Station, TX
    68
    Votes |
    128
    Posts
    Chris Quinn
    • Realtor
    • College Station, TX
    Replied
    Originally posted by @Michael Dang:

    Chris is correct.  The new supply over last couple years has increased vacancy rates and from a recent market report will continue throughout this year.  CS is a solid market I've seen a couple multifamily deals get picked up very quickly due to attractive prices.  

    Ask for some market reports and go do market surveys.  Nothing like hitting the pavement.

    Bryan/College Station Market Reports - These are provided by our Realtor Association, updated monthly.

    User Stats

    31
    Posts
    3
    Votes
    Demetre Dyse
    3
    Votes |
    31
    Posts
    Demetre Dyse
    Replied

    @Chris Quinn

    Thank you Chris. Are these reports based off of single family properties?

    User Stats

    45
    Posts
    21
    Votes
    Kyle Dwyer
    • Rental Property Investor
    • College Station, TX
    21
    Votes |
    45
    Posts
    Kyle Dwyer
    • Rental Property Investor
    • College Station, TX
    Replied

    College Station and Bryan are areas that I have experience in, and are getting great prices for a wide variety of properties.  We are steadily getting 3-5% rental price increase per year on the units my company manages.  It is all about WHEN you market the property, and HOW you market it.  Too many times, I see investors and managers fail at these things, and then feel forced to say that the market is saturated.  

    I think differently.  The market is not saturated, it is CHANGING.  If you don't change with it, then you get left behind.  You must appeal to the tenant prospects in this area to succeed.