- Rochester NY 17.7%
- Memphis TN 14.9%
- Cleveland, OH 14.5%
- Birmingham, AL 14.3%
- Buffalo, NY 14%
- Indianapolis, IN 13%
- St. Louis, MO 12.9%
- Detroit, MI 12.8%
- Oklahoma City, OK 12.8%
- Kansas City, KS 12.7%
The Good, Bad and Ugly
CNBC recommends staying clear of California, where it sees the worst markets for rental returns, as well and SLC and Portland.
The news service does recommend Cincinnati, which is just one of several Ohio cities to make this list. OH boasts some of the most affordable real estate on the map today, as well as great growth prospects.
Like Memphis, Nashville, TN may offer some affordable rental property deals, and attractive yields. Forbes lists Jacksonville, FL as one of the best. It has some of the cheapest house deals in the US, and is set to have one of the strongest rates of population growth in the country.
More Cities for Boomers, Migration Trends & Affordability
HomeUnion says it sees some of the best opportunities to buy in these American cities:
- Las Vegas
These cities may be less competitive for rental property investors right now, and may benefit from boomers retiring and seeking new digs.
Best for Yields, Prices, Wage Growth
Data from RealtyTrac reveals a number of cities that offer a great combination of rental yields, reasonable acquisition prices well below the median American house price, and strong wage growth.
Charlotte has seen wage growth over 10%, double digit yields, and yet median home prices at less than half the national average. Dayton, OH boasts 13.8% gross rental yields in 2017, while Toledo is even higher, at 14.5%, with 7% plus wage growth, and a median sales price of just $88,400.
Sun, Style, Schools
CBS has ranked Palmetto Bay, FL as one of the best destinations for real estate returns in 2017. This is a more prestigious location than many others on this list, highly desired for its great schools and proximity to Miami’s business centers. Property may not be cheap, but neither are rents.
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