Houston among nation’s top college cities for real estate investments

Houston is one of the country's best college markets for real estate investors.According to a recent report from the online real estate information company Move Inc., Houston is one of the top-five college cities in the nation for real estate investors.The cities were ranked based upon the nation's leading universities in 2011. Rice University was ranked 17th.The company's report revealed the median list price for Houston properties in June was $174,900, which is down from the previous year and slightly below the national median of $189,900. The average rental price for two-bedroom properties in the city was $1,218 and $1,478 for three-or-more bedroom properties during the month.The report showed that these rental prices are higher than what homeowners would pay for monthly mortgage costs after receiving the current home loan rates for a 30-year fixed loan with a sizable down payment.”Local markets with universities or colleges can be an attractive option for many local real estate investors,” Move Inc. chief executive officer, Steve Berkowitz said in a statement. “Housing demand in college towns is generally high and vacancy rates are usually low.”Courtesy of 2M Realty News

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