Doorvest, Now In 2 New Markets In 2022
New year, new markets! Coming out of our Dallas expansion announcement last month, we are excited to share that Doorvest is now also expanding into Atlanta, GA, and San Antonio, TX! This has been a dream of ours to be able to deepen our roots in Texas while expanding outside of it as well.
Doorvest’s mission continues to be sourcing homes that best match our customers' investment needs, whether it’s for higher appreciation, cash flow, or something else - as we expand throughout more geographical locations, the merit remains the same.
We're hitting our goals this year, let's help you hit some of yours! Ready to sign up for Doorvest and make your investing goals happen this year? Click the button below to submit your deposit!
Here are some reasons why we love Atlanta and San Antonio!
Atlanta
The Atlanta metro has the fifth largest population in the U.S. with 6.2 million residents and expected population growth of 9% by 2025 according to the Atlanta Regional Commission indicating that more and more people are moving to Atlanta.
According to Census data, the income in Atlanta has grown from 28% from 2014 to 2019 which is the second-largest growth rate behind Los Angeles.
In addition to income growth, job growth is also growing at 8% from 2016 - 2021. During the pandemic, we saw Atlanta take a hit in job growth as with many other metros, but as of 2021, Atlanta has mostly recovered back to pre-pandemic growth.
Income and job growth are the two most fundamental measure that signifies a strong economy in which will translate over to the real estate market.
There’s a good mix of renters and homeowners, about 50% of homes are renter-occupied. We like this because it means there is a strong market for renting in Atlanta, but it is not overly saturated with rentals. Rents are quite strong overall, with Zumper data reporting an average of $2,300 for a three-bedroom apartment (a 24% increase from last year).
San Antonio
San Antonio is the seventh-largest city in the U.S. and the second-largest population in Texas with 1.5 million residents and has an expected population growth of 3.3 million by 2050 according to KSAT12 indicating that more and more people are moving to San Antonio.
Also according to KSAT12, expected job growth is primarily focused on two quickly growing sectors; technology and cybersecurity.
According to RentCafe 36% of households in San Antonio are renter-occupied with an average monthly rental cost between $1,001 - $1,500.
Analysis from FortuneBuilders.com showcases a few key trends in the San Antonio market:
The relatively low cost of living will attract millennials from around the country, who represent the largest population of buyers in the United States.
The San Antonio real estate market boasts a large population of renters, which bodes well for investors building rental property portfolios.
Lastly, Unemployment has improved dramatically since it spiked in 2020, which will give more people the confidence they need to buy or rent a home
.
