Urban vs Suburban Living in Eugene, Oregon
If you are looking to buy a house in Eugene, Oregon, you may wonder if urban or suburban real estate is better. Those who are looking for investment opportunities, need to crunch a few numbers and look at hard data before choosing which community is the better option. First, let’s take a look at Eugene as a whole.
A Look at Eugene, Oregon Housing Options
Eugene, Oregon has a population just over 165,000. The city is in Lane county and there are both urban and suburban regions, as well as a few areas with a kind of urban-suburban mix. Just a little over half of residents in Eugene rent their homes and the median rent is just above the national average at $988. Eugene is home to quite a large number of young professionals and provides plenty of parks, coffee shops, restaurants, and other amenities.
Urban or Suburban – which is the best investment in Eugene, Oregon?
Real estate investors like to have a diversified portfolio. When building a portfolio, there are plenty of property options including residential, commercial, single-family dwellings, and multiple family dwellings. Of course, the property’s location is one of the most important considerations you have to make. You’ll be looking at the potential for growth, nearby amenities, transportation, schools, and plenty of other aspects before investing in a property. A home is an investment whether you are a real estate investor or buying for your family. Does it make more sense for anyone to invest in suburban or urban properties?
Pros and Cons of Suburban and Urban Property Investments
There are many distinct pros and cons for investing in urban and suburban properties in Eugene, Oregon. Just in general, here are a few of them.
Pros of Buying Urban Property
- Urban areas have a wide variety of property choices
- There is easy access to tons of amenities and transportation
- You’ll have a large pool of renters in an urban area
Cons of Buying Property in Urban Areas
- There is usually a higher crime rate in urban areas
- Higher turnover in renters
- More wear and tear on the property is likely
Pros of Buying in Suburban Eugene
- Most renters are long-term
- You get more house for your money
- Crime rates are lower
- There’s more outdoor (less crowded) space
- Access to the city for work or entertainment
- Quiet neighborhoods
- More outdoor spaces
- More bang for your buck (larger square foot areas for lower prices)
Cons of Buying in Suburban Areas
- Smaller pool of renters
- Not as many amenities and they are spread out more
- Not as much variety
What are your goals for buying in Eugene?
When trying to decide on an urban or suburban location to buy in Eugene, there are advantages and disadvantages for both. It will really come down to one thing ultimately – which will help you reach both your short-term and long-term goals and expectations? Both urban and suburban investment properties have something to offer. The key is finding properties that make the most financial sense and are the most practical.
When choosing urban or suburban properties in Eugene, Oregon, think about how it works with your financial goals now and in the future. But also consider how it works with your life on the bigger scale. Does the property align with your goals? The secret to investing in real estate is finding the right location, investing in affordable options, getting great returns on the investment, and having plenty of potential for growth over the long-term.