GOBankingRates surveyed 61 out of the 100 most populous cities in the U.S. to find the best and worst cities to own investment property. And as outlined by their analysis, Orlando ranked No. 1 as the top metro area in the U.S. to have investment property, with Tampa coming in second.
Overall, four Florida cities ranked in the top 15. Miami came in at No. 10 and Jacksonville at No. 13.
To produce the rankings, the study analyzed the following factors:
Employment growth: the percent change in the city’s number of employed people year-over-year
Population growth: the percent change in the city’s population year-over-year
Increase in home values: the percent change in the city’s median home value year-over-year
Years to pay off property: the number of years it would take for rental income to pay off the median home value
4 Florida metros top the ‘best cities to invest’ collection
15 best cities to own investment property
1. Orlando
2. Tampa
3. Denver
4. Seattle
5. Austin, Texas
6. Reno, Nev.
7. Dallas
8. Portland, Ore.
9. Raleigh, N.C.
10. Miami
12. Nashville, Tenn.
13. Jacksonville
14. Charlotte, N.C.
15. Richmond, Va.
15 worst cities to own investment property
1. Anchorage, Alaska
2. Pittsburgh
3. Chicago
4. Virginia Beach, Va.
5. Cleveland, Ohio
6. Honolulu
7. Detroit
8. Tulsa, Okla.
9. Omaha, Neb.
10. El Paso, Texas
11. Wichita, Kansas
12. Cincinnati, Ohio
13. Memphis, Tenn.
14. Baltimore, Md.
15. Winston-Salem, N.C.
“Growing populations in the top 10 cities on our list are fueling the need for more housing,” says Cameron Huddleston, Life + Money columnist for GOBankingRates. “That’s why these cities are such great places to own investment property now. On the other hand, the cities at the bottom of our list have seen little-to-no population growth, so the demand for housing isn’t as high – which means real estate investors won’t do as well there.”
Study insights
Five out of the 10 best cities to own property may be found in Florida and Texas.
Population levels are declining in places like Anchorage and Cleveland, pushing them to the bottom of the list.
When you are considering real estate investments, Midwest isn’t best – none of the Midwest states managed to get in the top 15 of the best states to own investment property.
Seattle, Austin and Reno rank among the list of top 10 places to own investment property. However, it takes 17 to 19 years to pay off median home values within these cities based upon yearly rents.
Take a look at a few of the most recent homes that came on the market here in the Tampa Area.
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See all Real estate matching your search.
(all data current as of
11/22/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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See all Real estate matching your search.
(all data current as of
11/22/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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$530,000-
Lot Size6,970 sqft
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Home Size3,008 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built2013
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Days on Market1
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See all Real estate matching your search.
(all data current as of
11/22/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
- List View
- Map View
- Grid View
See all Real estate matching your search.
(all data current as of
11/22/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.