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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%
Find an Apartment For Rent in Cincinnati
Looking for a rental in your area or planning to relocate to another city in the near future? Rent It Today can help! The most comprehensive rental resource online, Rent It Today provides listings of available apartments, condos, houses, and townhomes for rent in the Greater Cincinnati, Ohio area! To view a list of available rental units, visit www.rentittoday.com today!
