Top 10 Cities to Invest in Rental Properties
Based on estimated returns on investment in single-family home rental properties of 316 markets, Las Vegas is your best bet to invest on rental properties. Orlando, Tampa, and Fort Lauderdale - all in Florida - also made the list.
Les Christie of CNN Money reports:
"Overall, the highest ratings are in markets where home prices have fallen substantially. Home prices in these markets are also below average, so empty homes are easily turned into competitive rental properties," explains Ingo Winzer, founder of Local Market Monitor.
For Vegas, having the highest foreclosure rate in the nation and a 55% homeownership rate mean that a lot of people who once owned a home are now renting. As a result, "investors in Las Vegas who rent out the properties they buy now will have a 4.7% higher return than the 5.3% national average," Winzer says.
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Published on Tuesday, July 12, 2011 in
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