Cities Where Landlords Are Making Big Money on Rentals


Photo courtesy of cmsimg.freep.com

Photo courtesy of cmsimg.freep.com

In many cities across the country, it’s good to be a landlord. An increased demand and shortage of quality rentals has led to rising rates and now thousands of property owners are rolling in the dough. If I were to ask you where landlords where making the most money, you would probably blurt out New York or San Francisco or Chicago. Unfortunately, you’d be wrong.

The high rents in these cities are often offset by high property prices which means minimal returns on rentals. In the cities below, however, property prices are lower while rents remain high which leads to big bucks for landlords. Here are some of the top housing markets for returns on rentals, courtesy of Business Insider:

8. Tampa – St. Petersburg – Clearwater, Florida 

Rent for 3-bedroom: $1,269 

Gross Rental Yield: 17.3% 

7. Lake City, Florida 

Rent for 3-bedroom: $1,151 

Gross Rental Yield: 18.42% 

6. Detroit – Warren – Livonia, Michigan 

Rent for 3-bedroom: $1,124 

Gross Rental Yield: 19.88% 

5. Palatka, Florida 

Rent for 3-bedroom: $811 

Gross Rental Yield: 22.63% 

4. Kokomo, Indiana 

Rent for 3-bedroom: $888 

Gross Rental Yield: 24% 

3. Duplin County, North Carolina 

Rent for 3-bedroom: $793 

Gross Rental Yield: 24.4% 

2. Atlanta – Sandy Springs, Marietta, Georgia 

Rent for 3-bedroom: $1,187 

Gross Rental Yield: 20.88-20.35% 

1. Rocky Mount, North Carolina 

Rent for 3-bedroom: $918 

Gross Rental Yield: 42.57%

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