Hyde Park is a historic neighborhood in Austin, TX. Considered to be Austin’s first suburb, this neighborhood of is located in Central Austin. Just North of The University of Texas campus, Hyde Park has become very popular among students. The majority of establishments in this area are single-family (and multi-family) homes. These units always make great rental properties for groups of students wanting to reside with their friends!
That being said, if you are looking to buy a home, properties in Hyde Park are a great investment. If you simply want to purchase a house and rent it out for extra income, being so close to the UT campus, you should have no problem finding tenants! At the same time, if you are looking for a home to live in, this area would also be a great investment for you. Properties in this area very easily retain their value! Also, you can rest at ease that homes in Hyde Park will always be desired so if you go to sell, you won’t have any issues! From 2001 to 2007, the median home price rose close to $70,000. After the market crash in 2008, the market has regained its value and home sales are back on track. As of July 2013, some homes have even sold for over a million dollars in Hyde Park!
Just minutes from The University of Texas and Downtown Austin, Hyde Park is a great place to live. With its own park, Shipe Parke, this neighborhood is very family, as well as, student friendly! If you want to be close to the action, but still have a home with a yard and a nice neighborhood feel, you should definitely give Hyde Park a look!