Plano is Ranked a Top Destination to Rent a Home- and Purchase Investment Property

Plano is Ranked a Top Destination to Rent a Home- and Purchase Investment PropertyLast year Plano earned a ranking as the second-best location in the United States to rent a home in 2023. The study was conducted by a website that focuses on rentals entitled Rent Café. They conducted a study where they researched over 136 cities across the country. To be included in the study each city needed to have at least 10,000 apartments. There are 20 different standards by which the cities were ranked for their rentable status. These standards were then categorized into three main groups including the cost of living, the quality of life, and the local economy.

The study focused on apartment living in their ranking and sharing of the best places to rent a home across the country. The article showcases that Plano is a great place to rent any home. This means that Plano is a promising area to purchase investment properties.

More Information About the Rental Study

The company conducting the study looked over many factors in the three main categories for ranking rentable cities. When they studied the cost of living and housing they included how much it costs to live in the city along with the average size of apartments and how full apartment buildings were. They also looked into the quality of apartment communities and how much more it would cost to rent larger spaces with an extra bedroom. How many applications a vacant rental received and how often leases were renewed were also looked at.

The overall condition of the local economy was studied through the number of unemployed residents and the number of residents with an advanced education. The average earnings of renters in the area and job growth as well as new businesses starting were also studied to get a look into the economy.

To find the quality of life in each location the company studied where rentals were located and the quality of the schools around rentals. They also looked into how long it took people to get to work and how many people used personal cars to drive to work as well as the air quality and the abundance of natural surroundings.

Of the cities that were looked at for the study, 36 out of the top 50 were located in the south. And four of the top 10 cities are located in Texas. The first-place winner for rentable cities was Charleston South Carolina and Plano Texas came in second.

Why Plano Made the List

Plano stood out as a great location to rent a home and made a very high ranking on the list because of its high ratings in two of the three main areas. This included the local economy and the quality of life. The housing and cost of living ranked a little bit lower on the list but Plano ranked very high in two out of three of the top categories to gain number two on the list.

Plano has a reputation for providing an exceptional education system that produces successful students receiving high academic achievements. It has long been an ideal spot for families and continues to have great job opportunities and an amazing quality of life with a significant number of high-end rental properties. The study recognized Plano as the headquarters of large companies that include Hewlett-Packard, FedEx, JCPenney, Bank of America, and Pepsi. Plano is one of the fastest-growing job markets in the entire country currently.

Finding Great Investment Properties in Plano

If you are already a real estate investor or are considering entering the real estate investment world Plano is a great place to invest in rental properties. Several desirable homes in Plano can be rented for an affordable price and still bring in a return on investment that is promising for investment buyers.

If you are new to real estate investing it is always best to make sure you do extensive research and homework on becoming a real estate investor. You want to ensure that you are knowledgeable of what it takes to become a landlord and that you are making a solid investment in the right property with a promising projected income on your investment.

For more information on available properties in Plano either for investing, a primary home, or even a vacation property I am here to help. Contact me anytime with any Plano real estate needs. I am highly knowledgeable in Plano real estate and I'm here to help you achieve your Plano home-buying goals. 

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