Introduction

Investing in rental properties can be a lucrative venture, but the key to success lies in selecting the right property in the right location. A good rental property not only offers a steady stream of income but also appreciates in value over time. When evaluating potential investments, factors such as neighborhood safety, proximity to amenities, job opportunities, and local attractions are crucial. Location plays a pivotal role in determining the desirability and profitability of a rental property. In this guide, we will explore Yakima County, WA, highlighting the best neighborhoods and areas for investment based on various criteria.

Best Neighborhoods and Areas in Yakima County, WA

1. Downtown Yakima

Grades:

• Convenience: A
• Tourist Attractions: B+
• Things to Do: B+
• Avg Home Prices: B
• Return on Investment: A
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: Downtown Yakima boasts excellent convenience with a range of amenities including shopping centers, restaurants, and public transportation. The area is pedestrian-friendly, making it easy for residents to access daily necessities.

Tourist Attractions: While Downtown Yakima may not have the most prominent tourist attractions, it offers a variety of cultural and historical sites such as the Capitol Theatre and Yakima Valley Museum, which attract visitors year-round.

Things to Do: The downtown area provides a vibrant nightlife, numerous dining options, and seasonal events like the Yakima Farmers Market. Residents can enjoy a mix of urban activities without leaving the neighborhood.

Avg Home Prices: Home prices in Downtown Yakima are relatively moderate compared to other parts of the county. The average home price is around $250,000, making it an attractive option for investors looking for affordability and growth potential.

Return on Investment: Due to its central location and steady demand for rental properties, Downtown Yakima offers a high return on investment. Rental yields are competitive, and property values have shown consistent appreciation.

Proximity to Work-Related Travel: Downtown Yakima is close to major employers, healthcare facilities like Yakima Valley Memorial Hospital, and convention centers. Its strategic location makes it ideal for professionals and business travelers.

X-Factor: The unique blend of urban charm and cultural heritage makes Downtown Yakima a desirable place to live and invest in. The ongoing revitalization projects further enhance its appeal.

2. West Valley

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: B+

Convenience: West Valley offers a suburban lifestyle with access to quality schools, parks, and shopping centers. It is an excellent area for families due to its safe and friendly environment.

Tourist Attractions: While not a major tourist hub, West Valley is close to Yakima's wine country, providing opportunities for wine tasting and vineyard tours. The nearby Cowiche Canyon also offers hiking and outdoor activities.

Things to Do: Residents can enjoy local parks, recreational facilities, and community events. The area is known for its family-friendly atmosphere and active community participation.

Avg Home Prices: The average home price in West Valley is around $300,000. The area offers good value for money, with homes that cater to middle to upper-middle-class families.

Return on Investment: West Valley has a steady rental market with good demand from families and professionals. The return on investment is solid, with stable property values and rental rates.

Proximity to Work-Related Travel: While not as centrally located as Downtown Yakima, West Valley still offers reasonable access to major employers and healthcare facilities. It is a short drive to downtown and other business areas.

X-Factor: West Valley's appeal lies in its balance between suburban tranquility and proximity to urban amenities. The strong sense of community and excellent schools add to its desirability.

3. Selah

Grades:

• Convenience: B
• Tourist Attractions: B
• Things to Do: B
• Avg Home Prices: A
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: B

Convenience: Selah provides a quiet, small-town atmosphere with essential amenities such as grocery stores, restaurants, and local businesses. It is suitable for those seeking a peaceful lifestyle away from the hustle and bustle of city life.

Tourist Attractions: Selah is close to the Yakima River, offering fishing, boating, and other water activities. The Selah Cliffs Natural Area is a popular spot for hiking and nature walks.

Things to Do: Outdoor enthusiasts will find plenty to do in Selah, from exploring the nearby natural areas to participating in community events. The town also has local parks and recreational facilities.

Avg Home Prices: Selah offers affordable housing options with an average home price of around $225,000. It is an attractive option for first-time buyers and investors looking for budget-friendly properties.

Return on Investment: While the rental market in Selah is not as robust as in more urban areas, it still offers a reasonable return on investment. The affordability of homes makes it easier to achieve positive cash flow.

Proximity to Work-Related Travel: Selah is a short drive from Yakima, providing access to job opportunities and healthcare facilities. It is a convenient location for those who work in the city but prefer a quieter living environment.

X-Factor: The close-knit community and access to natural beauty make Selah a unique and appealing place to live. It offers a slower pace of life with the benefits of nearby urban amenities.

4. Terrace Heights

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: B

Convenience: Terrace Heights offers a blend of suburban and rural living with access to shopping centers, schools, and healthcare facilities. It is known for its convenience and family-friendly environment.

Tourist Attractions: While not a major tourist destination, Terrace Heights is close to Yakima's recreational areas and vineyards. It offers a peaceful setting with easy access to outdoor activities.

Things to Do: Residents can enjoy local parks, golf courses, and community events. The area provides a good mix of recreational options for families and individuals alike.

Avg Home Prices: The average home price in Terrace Heights is around $275,000. The area offers good value for money with a range of housing options suitable for different budgets.

Return on Investment: Terrace Heights has a stable rental market with good demand from families and professionals. The return on investment is solid, with steady property values and rental rates.

Proximity to Work-Related Travel: Terrace Heights is conveniently located near major highways, making it easy to commute to Yakima and other nearby cities. It is a strategic location for those who need to travel for work.

X-Factor: The combination of suburban comfort and rural charm makes Terrace Heights a desirable place to live and invest in. Its proximity to both urban amenities and natural attractions adds to its appeal.

5. Moxee

Grades:

• Convenience: B
• Tourist Attractions: B-
• Things to Do: B-
• Avg Home Prices: A
• Return on Investment: B
• Proximity to Work-Related Travel: B-
• X-Factor: B

Convenience: Moxee is a small town with essential amenities such as grocery stores, schools, and local businesses. It offers a quiet, rural lifestyle with easy access to nearby Yakima.

Tourist Attractions: Moxee is known for its agricultural heritage and annual community events like the Moxee Hop Festival. It offers a glimpse into the region's farming traditions.

Things to Do: Residents can enjoy local parks, community events, and outdoor activities. The town provides a relaxed lifestyle with opportunities for recreation and socializing.

Avg Home Prices: Moxee offers some of the most affordable housing in Yakima County, with an average home price of around $200,000. It is an attractive option for budget-conscious investors.

Return on Investment: The rental market in Moxee is smaller compared to urban areas, but it still offers reasonable returns due to the affordability of homes. Investors can achieve positive cash flow with lower upfront costs.

Proximity to Work-Related Travel: Moxee is a short drive from Yakima, providing access to job opportunities and healthcare facilities. It is a convenient location for those who work in the city but prefer rural living.

X-Factor: The unique agricultural heritage and community spirit of Moxee make it a charming place to live. Its affordability and rural lifestyle are appealing to those seeking a simpler way of life.

Conclusion

Investing in rental properties in Yakima County, WA, offers a variety of opportunities for different types of investors. Whether you prefer the urban appeal of Downtown Yakima, the suburban comfort of West Valley, or the rural charm of Moxee, each area has its unique advantages. By carefully considering factors such as convenience, attractions, home prices, and return on investment, you can make an informed decision that aligns with your investment goals.