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Unlocking Investment Potential: A Guide to Rental Properties in Boone County, MO
Written by:
Jeremy Werden
June 21, 2024
⚡️
Reveal your property’s rental profitability
Buy this property and list it on Airbnb.
Introduction
Investing in rental properties can be a lucrative endeavor, provided you make informed choices. A good rental property offers strong cash flow, potential for appreciation, and low vacancy rates. Critical to achieving these outcomes is the property's location. The location influences rent levels, occupancy rates, and long-term value growth. Boone County, MO, with its diverse neighborhoods and vibrant communities, presents numerous opportunities for property investors. This guide delves into the best areas in Boone County, grading each on key investment factors to help you unlock their potential.
Best Neighborhoods and Areas in Boone County, MO
1. Downtown Columbia
Grades:
- Convenience: A
- Tourist Attractions: A
- Things to Do: A
- Avg Home Prices: C
- Return on Investment: B
- Proximity to Work-Related Travel: A
- X-Factor: A
Convenience Downtown Columbia offers unparalleled convenience with a plethora of amenities within walking distance. Grocery stores, restaurants, cafes, and public transportation options abound, making daily life easy for residents.
Tourist Attractions As the heart of Columbia, downtown is rich with cultural landmarks, including the Columbia Art League, Ragtag Cinema, and The Blue Note, a historic live music venue.
Things to Do Downtown Columbia is a hub of activity. Residents can enjoy a variety of dining options, boutique shopping, nightlife, and seasonal events such as the True/False Film Fest and Roots N Blues N BBQ Festival.
Avg Home Prices Homes in Downtown Columbia are on the pricier side, with average home prices reflecting the area’s high demand. However, the potential for rental income is significant.
Return on Investment While the initial investment might be higher, the return on investment in Downtown Columbia is promising due to strong rental demand and property appreciation.
Proximity to Work-Related Travel Downtown Columbia is close to major work-related venues such as the University of Missouri, hospitals, and convention centers, making it a prime location for professionals.
X-Factor The vibrant, urban atmosphere and the presence of the University of Missouri give Downtown Columbia a unique charm, appealing to a wide range of tenants from students to young professionals.
2. Benton-Stephens
Grades:
- Convenience: B
- Tourist Attractions: B
- Things to Do: B
- Avg Home Prices: B
- Return on Investment: A
- Proximity to Work-Related Travel: B
- X-Factor: B
Convenience Benton-Stephens is a residential neighborhood offering a quiet, suburban feel while still being close to downtown Columbia. It has good access to local amenities and public transportation.
Tourist Attractions While not as rich in tourist attractions as Downtown Columbia, Benton-Stephens benefits from its proximity to Columbia's main attractions and the University of Missouri.
Things to Do Residents can enjoy nearby parks, community events, and easy access to the broader entertainment options in Columbia.
Avg Home Prices Home prices in Benton-Stephens are moderate, offering good value for money compared to downtown.
Return on Investment The area offers strong ROI potential due to its desirable location, affordable property prices, and steady demand from renters.
Proximity to Work-Related Travel Benton-Stephens provides reasonable access to work-related travel venues, though not as conveniently as downtown areas.
X-Factor Benton-Stephens is known for its friendly community atmosphere and historic homes, providing a unique living experience that attracts long-term tenants.
3. Old Southwest
Grades:
- Convenience: B
- Tourist Attractions: B
- Things to Do: B
- Avg Home Prices: B
- Return on Investment: B
- Proximity to Work-Related Travel: B
- X-Factor: A
Convenience Old Southwest is a charming neighborhood with a mix of historic and modern homes. It’s close to downtown and offers easy access to amenities and public services.
Tourist Attractions The area is near significant attractions such as the Museum of Art and Archaeology and Stephens Lake Park, providing a balanced blend of culture and recreation.
Things to Do Residents can enjoy various parks, local eateries, and community events. The neighborhood’s proximity to downtown Columbia enhances its appeal.
Avg Home Prices Home prices are relatively moderate, making it an attractive option for both investors and renters.
Return on Investment Old Southwest provides a solid ROI with consistent demand for rentals and a stable property market.
Proximity to Work-Related Travel The neighborhood’s location offers good access to major employment centers, including the university and healthcare facilities.
X-Factor Old Southwest's unique character, marked by its historic architecture and mature tree-lined streets, makes it a highly desirable place to live.
4. West Ash
Grades:
- Convenience: B
- Tourist Attractions: C
- Things to Do: C
- Avg Home Prices: A
- Return on Investment: A
- Proximity to Work-Related Travel: C
- X-Factor: B
Convenience West Ash offers a suburban setting with convenient access to schools, shopping centers, and public transportation, making daily life straightforward for residents.
Tourist Attractions While not a hub of tourist activity, West Ash benefits from its proximity to Columbia’s main attractions and recreational facilities.
Things to Do The neighborhood offers parks, local dining, and shopping, with additional entertainment options a short drive away.
Avg Home Prices Home prices in West Ash are more affordable, offering excellent value for potential investors.
Return on Investment West Ash provides a strong ROI due to lower property prices and steady rental demand.
Proximity to Work-Related Travel The area is somewhat further from central work-related travel hubs, but still accessible by car or public transport.
X-Factor West Ash’s affordability and family-friendly environment make it a unique and appealing choice for long-term renters.
5. The Highlands
Grades:
- Convenience: B
- Tourist Attractions: C
- Things to Do: B
- Avg Home Prices: B
- Return on Investment: B
- Proximity to Work-Related Travel: B
- X-Factor: A
Convenience The Highlands offers a suburban lifestyle with excellent access to local amenities, schools, and parks, making it highly convenient for families.
Tourist Attractions Though not a tourist hotspot, The Highlands is close to recreational facilities and natural attractions, providing residents with ample outdoor activities.
Things to Do Residents can enjoy a range of outdoor activities, local shopping, and dining options, with easy access to Columbia’s broader entertainment scene.
Avg Home Prices Property prices in The Highlands are moderate, offering good value and making it an attractive area for investment.
Return on Investment The Highlands offers a decent ROI with consistent rental demand and property appreciation potential.
Proximity to Work-Related Travel The neighborhood provides good access to major employment centers, though it is a bit further from downtown Columbia.
X-Factor The Highlands’ tranquil environment, combined with its community-oriented atmosphere and proximity to nature, make it a desirable place to live.
Conclusion
Boone County, MO, presents a diverse range of neighborhoods, each with its own unique appeal and investment potential. Whether you prioritize convenience, affordability, or community charm, there is an area that can meet your investment criteria. By carefully considering the factors outlined in this guide, you can make informed decisions to unlock the investment potential of rental properties in Boone County.
⚡️
Reveal your property’s rental profitability
Buy this property and list it on Airbnb.