
If you are an active real estate investor or if you are considering becoming an investor (perhaps you are considering turning your primary residence into a rental property), you are not going to want to miss these key trends and economic indicators!
People Across The U.S. Are Interested in This Market
In a recent article published by Opendoor, Clarksville was highlighted as the #1 hottest area in the nation! People everywhere are migrating here for the friendly business environment, inviting community, great weather, beautiful scenery, and all-around culture. This is great news for long-term investors in Clarksville.
Rents are Increasing
As a savvy rental property investor, you definitely want to know if rents are decreasing, stable, or increasing in your market. Clarksville has seen consistent growth in rental rates over recent years. A recent sample of data shows that rental rates have increased from an average of $1,350 per month to $1,562 per month in just one year!
Home Prices are Appreciating
Year-over-year, the standard 3 bedroom, 2 bathroom home in Clarksville has appreciated over 22% on average! What does that mean for you as a homeowner? If you had purchased a $200,000 home last year, it could be worth as much as $240,000 today! Going forward, if homes continue to appreciate, you could continue to see significant gains in your home’s value! For comparison, the S&P 500 index, a major indicator of stock market performance, is down over 15% over that same period!
Population Growth
In 2021, Clarksville documented an astounding 6.4% growth in population! One key indicator of a healthy, stable economy is population growth. As people migrate here, the job market diversifies and the community advances together - a rising tide lifts all boats!
Salary Growth
In 2021, Clarksville also accounted for a 5.6% growth in annual salaries too! So, not only are more people moving here and starting families here, the quality of their lives is improving as well! A strong and diversified workforce is the backbone of any great rental market!
Whether you are considering investing in this market, or want to expand your portfolio, these indicators and trends should give you peace of mind. Clarksville, being the great community that it is, naturally makes for a great place to invest in real estate! Are you interested in learning more about turning your home into a rental property? Are you looking to purchase your first, or next, investment property? Reach out to our team today and let’s grow together!
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