Best cities in Tennessee to invest in rental real estate
Top destinations in Tennessee - January 31, 2019
Are you looking to invest in real estate? Thinking about buying a house or an apartment, but still unsure if it’s a good idea or not? There are many things you need to look into when you want to buy a house in Tennessee. This is a big task. You don’t just find a home, sign some papers and it’s yours. Actually, you could do that, but a smart thing to do would be to think about the idea first. You need to figure out where exactly you will be buying the property. Is the town right for you? Will you be living there or renting it to strangers? Without examining these questions, you will be spending a lot of money – and possibly watching it go to waste. This is why in this article we present to you the best cities in Tennessee to invest in rental real estate in.
What are the best cities in Tennessee to invest in rental real estate in?
The first question you will want to ask is what makes a city good for investing in real estate. Is it the proximity to Nashville or other important Tennessee places? Or maybe it is how modern (or rural) a city is? Well, this really depends on many factors.
- The best cities in Tennesse to invest in rental real estate have a growing population.
- Think about who will be living in the house.
- Are there venues and amenities nearby?
- Is there a plan for residential or commercial development in the vicinity of your real estate?
These are some of the questions you will want to ask before looking into the real estate. Today, we will give you some of our favorite cities that fulfill a couple of these criteria. It is up to you to make your decision, and start looking for a home in one of them.
Live in the City by the Lake
Hendersonville is the 11th largest city in the state of Tennessee. Its nickname comes from it sitting on the shores of Old Hickory Lake. It is also one of the largest cities in the Nashville metro area, right after Nashville itself, Murfreesboro and Franklin. It is famous as a home to many county and pop singers. Johnny Cash, Kelly Clarkson, and Taylor Swift are but three of them. The city’s main road is even named for one of its former residents – Johnny Cash Parkway. You will also be able to find good real estate, as well as professional movers in Hendersonville.
Why it is one of the best cities in Tennessee to invest in rental real estate? Well, first, its population is growing. There was an increase of over 3,000 – from 51,000 at the 2010 census to the 54,000 in the 2013 estimates. It is also pretty close to Nashville itself – only 18 miles away. These facts make it a popular destination to look for real estate in.
Look for real estate in Robertson County
If you want to move to the north of the Tennesee state, then look no further than the Robertson county. Where to move within the county? Well, there is the seat of the county – Springfield. It is a city with 16,478 people at the 2010 – and 16,659 people three years later. As you can tell, the population here is growing – although a bit slower than in Hendersonville. There are also amazing Springfield movers as well as 8 schools for your kids, and multiple recreation facilities.
Find your home in the Pencil City
Maybe your new home is in Bedford County – in Shelbyville – one of the best cities in Tennessee to invest in rental real estate. The city has a long history. It was laid out in 1810, and nowadays it has a population of over 20 thousand people. It was also the center of wood-cased pencil industry, from which it got its nickname. This industry has remained in the city today – although now it encompasses all writing instruments. To show you just how important it is, Sharpie was invented in the city. Another record was set here – the world’s longest pencil. This 1,091 feet long monster was born in Shelbyville in 1991.
Another name for the city where professional movers can bring you is “The Walking Horse Capital of the World”. This is because it is a hub of the Tennessee Walking Horse industry. However, these aren’t the only industries here. There is also Calsonic Kansei, Newell Rubbermaid, Cebal America as well as Jostens. Tyson Foods has a facility here and Wal-Mart has a distribution center here too.
The seat of Rutherford County
There was a lot of discussion about where the seat of Rutherford County should be. That’s how in 1811, Murfreesboro became established. The first name was Cannonsburgh, because of a member of the state legislature Newton Cannon. However, the city soon got a name change for Colonel Hardy Murfree – a Revolutionary War hero. After that, the city expanded westward and Knoxville stopped being attractive for the newcomers, so Murfreesboro became the capital in 1818. Nashville took this title eight years later.
What makes the city one of the best cities in Tennessee to invest in rental real estate is the growing population. In 2000 there were around 69,000 people living here, which grew to 109,000 in 2010. The 2017 census estimates are around 136,000 people – which makes it one of the state’s fastest growing cities. It is also 34 miles away from Nashville which is another convenience. Yet another thing to know before investing in real estate is that it falls in the Nashville metro area of Middle Tennessee. Middle Tennessee State University calls this city home, along with the 22,000 students here.