More than 40% of the Austin metro area's housing stock is rental units thanks, in part, to the giant University of Texas at Austin campus, which enrolls more than 50,000 students.
Occupancy rates are climbing so fast in the area that rents are reaching new highs. But home prices are climbing, too. In June, prices had risen 11% year-over-year by June 30 to a median of about $201,000, according to the National Association of Home Builders and Wells Fargo.
There are some areas where investors can find bargains, however, like suburban Williamson County, which includes the Round Rock, Texas, home of Dell Computer. This 2,400-square-foot brick home in Round Rock is listed for just $155,000, about the median price for that area.
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