Home Buying in Lewisville>Question Details

Jacqueline.s…, Home Buyer in Lewisville, TX

what is the ratio for homes owner occupied vs non owner occuppied (renters) in the Lewisville area?

Asked by Jacqueline.s.judy, Lewisville, TX Wed Sep 5, 2012

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I would tend to agree with Bruce on Flower Mound and their ratio, but I think Lewisville is probably more a 60% owner occupied 40% rental. I would also not lump all of Lewisville together about values going down if there are more rentals as a whole. Sure, in the older parts of Lewisville or areas with smaller homes they are probably up to 80% rental, and for many different reasons. Also these areas values will expeditiously go up too once lending restrictions ease, as we saw with the First Time Home Buyer tax credits.

Examples are Investors could have come and scooped up a lot of the distressed properties. Move-up buyers could also just decide not to sell and "wait it out" for the market to recover rather than trying to sell the property for a loss or for less profit. Re-locators could fall into that same category, had to move for work, could not sell, so turned it into a rental and then they rent themselves somewhere else.

But, I know personally of a lot of areas of Lewisville where certain neighborhoods or subdivisions are lightly peppered with rentals and they bring in over $2500+ a month in rent and sales values have gone up over 5% from last summer.

The point I am trying to make is don't fall into the trap, even so many locals do, of lumping Lewisville all together - Lewisville is a very large and diverse area. I have talked to countless people who will think they are talking about Carrolton or Flower Mound or Highland Village and they are actually in Lewisville. If you are wanting to purchase in a area that historically holds it's value better than other parts of town or city any experienced agent should be able to show you in black & white the proof of this, and when your ready I would like to be that agent for you anywhere in Denton County.
1 vote Thank Flag Link Thu Sep 6, 2012
I agree with Jay about not lumping Lewisville (or any city for that matter) into one category. There are distinct neighborhoods and each has it's own personality and population base which affects everything from house price to rental rate to insurance rates to tax appraised value, etc. And yes it also has a bearing on the rental vs owner occupied mix.

Regards,
Shawn
0 votes Thank Flag Link Thu Mar 28, 2013
Not an easy question to have answered without a wealth of time vested. Happy to work as a paid consultant for the research .

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0 votes Thank Flag Link Thu Sep 6, 2012
I have not seen a stat specifically for Lewisville.
My guess is something like 50%

The closest numbers I can see is:
http://www.dallasindicators.org/Seniors/SeniorsandtheEconomy…

But various cities in Denton County can be completely different.

For example I would think probably 90% in Flower Mound next door, because very few rentals and very few apartments. Lewisville has lots of apartments.
0 votes Thank Flag Link Thu Sep 6, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
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The property value goes down if the area has more rental property than owner occupied properties. I'm looking at moving down to Dallas in the near future and thought of looking in the Lewisville area. I heard that 80% of the properties are rentals. Just wanted to follow up on that.
0 votes Thank Flag Link Thu Sep 6, 2012
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