Diving into investment properties is an exciting time but knowing where the best place to invest is can be tricky. South Carolina has a growing population, but the number of available properties in the big cities such as Midlands is not keeping pace with the number of tenants coming to the state. Many first time investors are finding more success and less competition for properties in communities like the midlands and Columbia.
Benefits of Investing in the Midlands
Housing costs in Midlands are 127% more expensive than Columbia. This HUGE disparity makes investing in properties in the Midlands very attractive for first time investors.
More than half of the residents in Columbia rent their homes and are happy to do so as rents have remained relatively affordable compared to Midlands.
Columbia is a buyer’s market according to realtor.com and is one of the best places to find great property values with high returns on investment.
University of South Carolina along with business growth in Columbia keep a steady stream of people moving into the area. There will always be quality renters so your properties won’t remain vacant.
A property management company in Columbia can help you manage properties no matter where you live or if you want to travel.
Best Neighborhoods to Invest Around Columbia
Columbia offers a great urban-suburban environment, but there are many other neighborhoods perfect for single-families in the suburbs as well.
Cayce is a small community where nearly 50% of the households are renters. The neighborhood is just a bit south of downtown Columbia and sits along the Congaree River. Homes in Cayce average 5 days on the market, so this community is hot for investors.
West Columbia is another community where there are many renters. 45% of the households rent and homes are more affordable in West Columbia than other places in the metro area.
Chapin has a lower population of renters but this tiny community with a population less than 2,000 is ranked as the second-best community to purchase a home in the Columbia area. Average rent is $1,200 and worth every penny, especially lakefront properties.
A property management company in Columbia can help investors decide which neighborhoods are the best for rental property profits.
If you need property management services in Columbia, call Scott Properties of the Midlands at 803-951-0702.