06/30/2012
Top hot spots for buying rental properties
DAYTONA BEACH, Fla. – June 29, 2012 – Rents are rising nationwide and investors want to cash in. Local Market Monitor recently reviewed 316 housing markets to find which ones appeared to have the highest investment potential for single-family rental properties. Three Florida cities made the top 10, with two in the top five.
The following are the top markets that, according to Local Market Monitor, emerged from its list as best places to purchase a rental property in the U.S.:
1. Las Vegas
Median home price (2012): $122,000
Estimated median home price by 2015: $121,087
Projected annual rent in 2015: $12,829
2. Detroit
Median home price (2012): $78,000
Estimated median home price by 2015: $93,982
Projected annual rent in 2015: $9,016
3. Daytona Beach, Fla.
Median home price (2012): $114,000
Estimated median home price by 2015: $123,282
Projected annual rent in 2015: $11,048
4. Orlando, Fla.
Median home price (2012): $115,000
Estimated median home price by 2015: $150,491
Projected annual rent in 2015: $13,105
5. Warren, Mich.
Median home price (2012): $114,000
Estimated median home price by 2015: $116,706
Projected annual rent in 2015: $9,308
6. Bakersfield, Calif.
Median home price in 2012: $115,000
Estimated median home price in 2015: $135,660
Projected annual rent in 2015: $10,628
7. Phoenix
Median home price in 2012: $135,000
Estimated median home price in 2015: $162,053
Projected annual rent in 2015: $12,268
8. Atlanta
Median home price in 2012: $122,000
Estimated median home price in 2015: $164,253
Projected annual rent in 2015: $12,255
9. Reno, Nev.
Median home price in 2012: $137,000
Estimated median home price in 2015: $152,509
Projected annual rent in 2015: $11,366
10. Tampa, Fla.
Median home price in 2012: $100,000
Estimated median home price in 2015: $150,271
Projected annual rent in 2015: $11,186
This is an article I read yesterday. Notice the estimated median home price in 2015 in Tampa!! Also note that rents have steadily increased this year!!!! Where else can you get a 10% return on your money???