Are you looking to venture into rental property investment? A particular option that has been noted to invest in is Huntsville. The metro area has been ranked as #1 for the Best Places to Live in the U.S.
Investing in the right neighborhood ensures that you are able to enjoy stable returns, tax incentives yearly, and security from economic shocks. When you are ready to leave the region, you can enjoy an appreciation in value.
In this article, we will be outlining the reasons why Huntsville is the ideal property market for you.
Vibrant Job Market
As a property investor, the most important thing is to have high-quality investors leasing your rental space. One important characteristic is being able to pay their rent consistently and on time.
Some of the notable companies and employers in Huntsville include Northrop Grumman, Raytheon, Lockheed Martin, Jacobs Technology, Aegis, Mazda and Toyota car plants, BAE Systems, General Dynamics, Radiance Technology, and Adtran. In addition, Huntsville is also the home of the second largest U.S. research park. The company employs thousands of people.
Skilled Workforce
Huntsville is known as a high technology city with a need for a skilled workforce for several industries, including cyber security, defense, radar, combat systems, biotech research, rotor-wing technology, aerospace engineering, and counter-intelligence.
According to Forbes, there is no city that has more technicians, engineers, scientists, and bioscience experts than Huntsville. The average salary for these experts is approximately $102,000. Landlords can enjoy stable returns from investing in rental property.
Quality Education
The University of Alabama is known for its quality education especially in mechanical engineering, electrical, and aerospace programs. Some of the other highly-rated colleges and universities for undergraduate and graduate programs include Faulkner University, Alabama (A& M) University, JF Drake State Technical College, Oakwood University, Strayer University, and Virginal College.
Property investors can choose to invest in properties more aligned to campus students. With the number of universities and colleges, you can enjoy stable returns thanks to the constant stream of students in the city.
Households also consider moving to Huntsville because of the quality local public schools. Both elementary, middle, and high schools are highly-rated.
Affordable Real Estate
Considering the allure of the property market, you would think that the Huntsville real estate is out of your price range. However, that is not the case. The Huntsville real estate is relatively affordable, especially when you consider other similar high technology cities. In addition to the affordability, Huntsville property owners enjoy low real estate taxes.
The Community
As a potential rental property owner, consider the type of community that your potential renters are going to live in. The Huntsville community is known for its hospitality.
New renters moving into Huntsville can enjoy a friendly atmosphere. They will be welcomed with open arms and within no time considered part of the Huntsville community. Such a tenant would think twice before moving out of your property and from the city.
Recreational Areas
You know what they say about all work and no play? It seems the public authorities and private entities have taken this to heart. There are a plethora of activities for professionals and households for Huntsville residents to take advantage of. Residents can enjoy fishing, off-roading, boating, caving, and rock climbing.
One of the most enjoyable activities is hiking. A local favorite is the Green Mountain which has several trails such as Berry Mountain, Huntsville Mountain, and Keel Mountain. For those who love biking, we recommend that you consider the Hays Nature Preserve.
If you prefer indoor activities, the top-rated attraction is the U.S. Space and Rocket Center. The indoor center is known by many far and wide.
Great Restaurants and Entertainment
If you are looking for a place to enjoy some good music and local food, several establishments in Huntsville come highly recommended. These include Cheesecake Factory, Ruth’s Chris Steakhouse, and Connors Steak and Seafood. You can enjoy a plate of your favorite meal and drink accompanied with a taste of local music talent.
If you are a coffee lover, you are in luck. There are several local coffee shops for you to enjoy.
Easy Commuting
If you have experience living in an urban space, you probably have gotten used to the long commuting hours and the frenzy that is common in cities. This, however, is not the case with Huntsville. The average commuting time in Huntsville is estimated at 20 minutes. This is significantly less than other similar cities in the region and countrywide.
Bottom Line
With its increase in population, relatively affordable real estate, and vibrant job market, the Huntsville property market has all the characteristics a property investor is looking for. But do you have the local experience required to invest in the right neighborhood? You might need the expertise of a local service provider.
Trusted by hundreds of property owners in Huntsville, APM Leasing & Management is the company to rely on as you start your investment journey. We know the local property industry like the back of our hands.
In addition to helping you kick start your property career path, our experienced and able crew can help you with the management of your rentals. We offer a wide range of services and solutions; from marketing to routine maintenance to financial record keeping. APM Leasing & Management is ready to offer its expertise and experience.
Get in touch with us today and receive a quote for our property management services.