Wichita has one of the most dynamic real estate markets in the country, a trend that is showing no signs of slowing. According to a report from Wichita State University's Center for Real Estate, single-family home prices are expected to grow by almost 8 percent next year.
There are areas where this is happening more than others. This article explores the top real estate market trends in up-and-coming Wichita neighborhoods. Keep reading to learn more about the hottest neighborhoods and opportunities for real estate investing and growing your real estate portfolio.
Andover
This suburban neighborhood makes this list because it has some of the highest median home prices in the area (exceeding $300,000). That alone does not guarantee a solid return on property investment, but it is an indication that it is a desirable area to live in, and a good bet home value will remain up.
Andover's proximity to the Wichita city center is perhaps a stronger indicator of accelerated desirability. It has loads of shopping and entertainment--including concerts and other live events--but still a small-town feel. It also has fantastic schools and a low crime rate.
College Hill
Wichita is home to at least nine universities, colleges, and other institutions of higher learning. Several of them border the College Hill neighborhood, which gives it a lot of promise for landlords renting to students. The neighborhood is attractive to real estate investors for this reason, as well as some others.
College Hill is extremely family-oriented. It is conducive to kids riding their bikes or for people getting out and walking their dogs. Public schools are also well above average.
In addition, College Hill has a vibrant nightlife, with myriad bars and restaurants, which can lure young professionals. There are also several quality parks and other recreation opportunities.
Finally, though popular, College Hill is still extremely affordable. Unlike Andover, you can find starter homes or condos that can help you get into real estate investing without breaking the bank.
Riverside
Riverside is one of the best places to live in Wichita in general. It has a sparse suburban feel, and the majority of residents own their homes, which are a mix of modern and 19th-century architecture.
There is lots to do, with restaurants, coffee shops, and parks. You will find the Arkansas River Bike Bath that connects Riverside with the Old Town entertainment district about two miles away. You also will find two prominent museums in Riverside (on Museum Boulevard): the Wichita Art Museum and the Old Cowtown Museum, which depicts life on the frontier.
Learn More About Wichita Real Estate Investing
Now that you have a list of the hottest Wichita neighborhoods for real estate investing, you can move forward with confidence. An experienced property management company can further advise you on the right moves to make based on your investing goals and budget.
PMI Air Capital is a premier property management company serving Wichita and the surrounding areas. We combine the strength of a national brand with in-depth local real estate expertise. Reach out to us today to learn more about investment strategies.
