For investors searching for the best suburbs of Philly in which to purchase a rental property, Doylestown offers not only a stable rental market but also one with a price point that is attractive for those hoping to turn a profit. Here is some information for investors interested in rental property in Bucks County, PA, to make that decision an easy one.
Choosing a Rental Property in Doylestown, PA
Doylestown is the highest populated city in Bucks County, making it attractive to investors and renters alike. Investment properties in this area do not appreciate as quickly as some areas of the U.S. However, the strong rental market creates stability for property owners. For that reason, Doylestown is the perfect opportunity for long-term investors who are interested in buying and holding property for many years.
Another plus for Doylestown investors is the current average rent of $1442 per month for a rental unit. This is relatively close to the national average and a bit higher than most locations in the county that are closer to Philadelphia. The demand for rental units at this price point is higher than units both more and less expensive. Units with a lower price point tend to bring tenants of slightly lower quality, and rental units with a higher price point are more difficult to lease. In other words, the financials are just right for the best slice of the tenant pie.
What Tenants Like About Doylestown
When looking for safe neighborhoods in Bucks County, Doylestown is safer than 80 percent of cities and towns in the U.S. and has a lower crime rate than three-quarters of the communities in Pennsylvania. Both violent crime and property crime rates are far below the national average, making it the perfect place for families of every kind to call home.
For families with children, the school districts in Doylestown are hard to beat. Great Schools rates every PA school with at least a 7 out of 10 and Central Bucks High in Doylestown scored a perfect 10 out of 10. Excellent schools are not only a big draw for both home buyers and renters, but they are also a reflection of the commitment the entire community has toward creating nice neighborhoods that are safe and supportive for its youngest members.
The employment outlook for Doylestown also contributes to making it one of the best places to live in PA. Along with its proximity to Philadelphia, Doylestown also has an active employment market for retail professionals, scientific and technical services, and health care professionals, along with a stable job market for those in manufacturing and public administration. The median household income is just over $76,000, which is significantly higher than the national average.
Things to Do in Doylestown
Along with considering things like the cost of living in Bucks County and the housing market in PA, families looking for a rental property near Philadelphia, PA, also want to make sure there’s plenty to keep everyone busy on their days off. For sightseers and history buffs, the Fonthill Castle is the eccentric and interesting former home of Henry Mercer, and with 44 rooms to explore, there’s plenty of room for repeat visits. The Mercer Museum makes the perfect counterpart with many displays of American living during the 1800s.
The whole family will enjoy many visits to the outdoor Kids Castle, perfect for picnics, family gatherings, and just plain fun. The three-story tube slide is one of the local favorites! Plan an outing to the Vivat Alfa Winery for a special occasion, or bring the family to the Doylestown Farmers Market that’s packed with local produce, flowers, arts, crafts, baked goods, and other wares. Outdoor enthusiasts and quiet-seekers will love the 1500 acres of Peace Valley Park surrounding the 365-acre Lake Galena, perfect for nature watching, paved trails, and boating. And if you’re looking for something a little more non-traditional, Bucks County has a bunch of options like Peddler’s Village, the Covered Bridge Tour, and more.
The city also boasts a full selection of dining options, from family-style diners to fine cuisine, and menus include bites from around the world, including Mexican, Italian, Asian, Indian, and so much more. Plus, Doylestown also offers a nonprofit theatre focusing on independent and foreign films as well as a traditional American big-screen theatre with all the new releases. Shoppers will also not be disappointed with a full selection of expected chain stores as well as fun finds for books, antiques, specialty foods, vintage pieces, and much more.
Best County to Live in PA
Bucks County will always remain home of the best suburbs of Philadelphia for many reasons, and Doylestown is one of them. Homeowners and renters are attracted to the area for the safe, well-developed, friendly neighborhoods with plenty to do, and lots of employment opportunities. Investors are attracted to Doylestown for the stable, steady, relatively predictable investment properties and an excellent selection of tenants to fill their spaces.
If you’re thinking of moving to the Bucks County area or are looking to invest in property, contact Bay Property Management Group Bucks County to get started.
