Houston one of the nation’s most popular rental markets

Houston has some of the most popular rental neighborhoods in the country.In the wake of the real estate bubble burst, some households had to put their plans to make the transition to homeownership on hold and were forced to stay in the rental market. As a result, rental rates surged across the country, which could make purchasing rental property a profitable investment.According to a report from Trulia, Houston has some of the most popular rental neighborhoods in the country. Specifically, Neartown/Montrose, Greater Heights and Midtown were all recognized as being hotspots.”In many metros, we're still in a landlord's market where competition among renters is high,” said Trulia manager of apartment industry relations Pierre Calzadilla. “Across metros, we're seeing spikes in searches for specific neighborhoods where competition can be cutthroat.”Currently, the average rental rate for Houston real estate is $1,143 per month, according to RentBits.com. With fixed mortgage rates hovering below 4 percent for all but one week so far this year, purchasing a home and converting it into a rental property could be a great financial opportunity.??Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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