5 Reasons Why to Invest in Bozeman Residential Real Estate
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Investing in Bozeman real estate is an excellent idea, whether you’re looking for your first rental property or you’re growing an existing portfolio of rental homes. We work with local investors and with people from all over the world who appreciate everything that Bozeman has to offer. You’ll find you get a lot more for your investment dollars here than you will in other markets, and the benefits continue to pay off as your asset grows in value.
Today, we’re looking at five of the most important reasons any investor should consider buying real estate in Bozeman.
Bozeman is Investor-FocusedThis is an area that’s attractive to investors because it’s a feasible market to enter. You don’t have to have a six-figure down payment just to buy a home. There’s a lot of well-priced inventory, and you can really stretch your budget when you purchase an investment property in Montana.
While cities on the coasts have largely won most of the attention when it comes to real estate investments in the last two or three decades, we think that the future is in markets like Bozeman, where investors can find great opportunities in a business-friendly environment.
Tourism Helps the Bozeman EconomyWe have a strong economy in Bozeman, and it’s not dependent on a single industry. Tourism is strong, and there’s plenty to love whether you’re a resident or a visitor.
Bozeman is a small city with a population of about 40,000 people. Tourists come here to see the largest dinosaur fossil collection in the world at the Museum of the Rockies. We also have some of the wildest and most beautiful parks and public lands. There’s no limit to the amount of hiking, biking, camping, fishing, and boating that people can do. Culture and history thrive as well, with local performing arts and street festivals happening all year long. People come for idyllic fishing and ice climbing. Not to mention that there are two ski resorts less than an hour from Bozeman.
Montana State University Provides a Tenant PoolInvestors will not have to worry about a shortage of tenants. We have plenty of highly qualified people looking for well-maintained homes. Montana State University, for example, gives us an ongoing opportunity to provide student housing. There are also professors, administrators, and visiting professionals who need to rent homes in the area when they arrive to work with the university. Renting to college students can be lucrative and rewarding.
Bozeman Offers Desirable Real Estate Investment OpportunitiesFrom 2014 to 2016, Bozeman properties increased in value by $524 million. There’s a tremendous opportunity to both earn some consistent cash flow and collect some excellent returns on your investment. Property values are increasing, and so are the rental rates. This puts investors in a great position to make money off the Bozeman properties they buy right now.
Job Market Growth in Bozeman Supports InvestorsAnother great reason to invest in Bozeman is that the economy is strong and growing, thanks in part to the attractive employment environment. There’s plenty of job growth, and it shows no signs of slowing down.
The unemployment rate in Bozeman has been under three percent for the last few years, and that’s better than the state average and the national average. The residents of Bozeman also earn more. Gallatin County ranks second in the entire state for per-capita income.
If you’re thinking about investing in Bozeman rental properties, we’d love to talk about the opportunities that are here. Contact us at Peak Property Management.