Best Places To Buy Rental Property In 2018

Great opportunities to invest in rental property exist all across the United States. Many factors need to be evaluated to determine if a potential investment will be profitable now and in the future. Factors used to determine the best places to buy rental property in 2018 include:

Average Home Price and GrowthAverage Rental Price and GrowthPopulation GrowthEmployment Opportunities

Here are ten rental markets that have promising rental property investments in 2018.

10 Best Places to Buy Rental Property in 2018

1. Memphis, Tennessee 

Population: 1.3 millionPopulation Growth 2010 to 2017: 0.83%Average Home Price: $136,200Annual Housing Growth: 9.6%Average Rent Price: $1094Annual Rent Growth: 3.4%

Homes are affordable in Memphis with an average price at $136,000. Housing has grown by 9.6% over the last year and rent prices have grown by 3.4%. Memphis is an entertainment and cultural hub with a desirable cost of living, which is 15.7% below the national average.

2. Houston, Texas 

Population: 6.5 millionPopulation Growth 2010 to 2017: 10.12%Average Home Price: $200,900Annual Housing Growth: 6.3%Average Rent Price: $1548Annual Rent Growth: 0.1%

Home prices hover at $200,000 and average rents at almost $1550 a month. These numbers are promising for a profitable rental property investment. Houston’s population continues to grow with an increase of over 10% since 2010.

3. Columbus, Ohio 

Population: 2 millionPopulation Growth 2010 to 2017: 11.71%Average Home Price: $184,200Annual Housing Growth: 7.9%Average Rent Price: $1336Annual Rent Growth: 0.4%

Home prices in Columbus, Ohio are affordable with an average cost of $184,000. Average rent prices of $1330 are substantial, especially when compared to the average home cost. The cost of living in Columbus is 9.6% lower than the United States average.

4. Tampa, Florida 

Population: 2.9 millionPopulation Growth 2010 to 2017: 14.81%Average Home Price: $208,400Annual Housing Growth: 9.9%Average Rent Price: $1390Annual Rent Growth: 1.4%

Tampa’s unemployment rate is 4.8%, which is below the national average of 5.2%. Its job market also looks promising with employment growth at 1.6% over the last year.

5. Atlanta, Georgia 

Population: 5.6 millionPopulation Growth 2010 to 2017: 15.78%Average Home Price : $209,700Average Housing Growth: 12.3%Average Rent Price: $1394Average Rent Growth: 0.7%

For a large city, Atlanta is affordable and people are starting to take notice. The population has grown by almost 16% since 2010. The average home price is just over $200,000, with an average rent close to $1400. Home to corporate giants like CNN, Home Depot and UPS, job growth is up 2.2% this year.

6. Jacksonville, Florida

Population: 1.4 millionPopulation Growth 2010 to 2017: 8.55%Average Home Price: $204,600Annual Housing Growth: 9.6%Average Rent Price: $1340Annual Rent Growth: 1.6%

Jacksonville, Florida has had steady growth since 2010 with a population increase of 8.5%. Jacksonville’s cost of living is 0.5% lower than the United States average. It boasts a diverse economy which includes a port mixed with banks, financial institutions and large companies like BellSouth.

7. Orlando, Florida 

Population: 2.3 MillionPopulation Growth 2010 to 2017 Census: 17.61 %Average Home Price: $231,000Annual Housing Growth: 9.7%Average Rent Price: $1449Annual Rent Growth: 1%

Orlando, Florida, once seen primarily as a vacation destination, has now become the happiest place on earth for many real estate investors. Homes are still affordable at an average price of just over $230,000 and rent prices are substantial. An average rent price of $1450 will help offset the purchase price.

The population has increased by almost 18% since 2010. A booming economy, recent storms along the Florida coasts and a desire to live downtown have all increased Orlando’s desirability.

8. Minneapolis, Minnesota

Population: 3.5 millionPopulation Growth 2010 to 2017: 10.39%Average Home Price: $263,300Annual Housing Growth: 6.8%Average Rent Price: $1638Annual Rent Growth: 0.5%

With an average rent over $1600, Minneapolis is a city to consider. Home prices hover around $250,000. It has a very diverse economy and is home to numerous corporations including Target, 3M and United Healthcare. It has a low unemployment rate of 3.7%.

9. Las Vegas, Nevada

Population: 2.1 millionPopulation Growth 2010 to 2017: 9.92%Average Home Price: $273,800Annual Housing Growth: 15.4%Average Rent Price: $1305Annual Rent Growth: 1.4%

Job growth in Las Vegas, Nevada is positive, with a 3.5% increase in the last year. Jobs in the health and education sectors have increased by 50% since 2008, marking a push to diversify the economy dominated by tourism.

10. Durham, North Carolina

Population: 267,743Population Growth 2010 to 2017: 17.26%Average Home Price: $234,400Annual Housing Growth: 7.5%Average Rent Price: $1394Annual Rent Growth: 0%

Housing growth is up 7.5% in Durham and average rents near $1400 a month. Durham boasts a strong economy centered on its proximity to colleges such as Duke University and the University of North Carolina at Chapel Hill. Other desirable features include a commute time of 8 minutes when the national average is 26 minutes and a low unemployment rate of 4.4%.

Great opportunities to invest in rental property exist all across the United States. Many factors need to be evaluated to determine if a potential investment will be profitable now and in the future. Factors used to determine the best places to buy rental property in 2018 include:

Average Home Price and GrowthAverage Rental Price and GrowthPopulation GrowthEmployment Opportunities

Here are ten rental markets that have promising rental property investments in 2018.

10 Best Places to Buy Rental Property in 2018

1. Memphis, Tennessee 

Population: 1.3 millionPopulation Growth 2010 to 2017: 0.83%Average Home Price: $136,200Annual Housing Growth: 9.6%Average Rent Price: $1094Annual Rent Growth: 3.4%

Homes are affordable in Memphis with an average price at $136,000. Housing has grown by 9.6% over the last year and rent prices have grown by 3.4%. Memphis is an entertainment and cultural hub with a desirable cost of living, which is 15.7% below the national average.

2. Houston, Texas 

Population: 6.5 millionPopulation Growth 2010 to 2017: 10.12%Average Home Price: $200,900Annual Housing Growth: 6.3%Average Rent Price: $1548Annual Rent Growth: 0.1%

Home prices hover at $200,000 and average rents at almost $1550 a month. These numbers are promising for a profitable rental property investment. Houston’s population continues to grow with an increase of over 10% since 2010.

3. Columbus, Ohio 

Population: 2 millionPopulation Growth 2010 to 2017: 11.71%Average Home Price: $184,200Annual Housing Growth: 7.9%Average Rent Price: $1336Annual Rent Growth: 0.4%

Home prices in Columbus, Ohio are affordable with an average cost of $184,000. Average rent prices of $1330 are substantial, especially when compared to the average home cost. The cost of living in Columbus is 9.6% lower than the United States average.

4. Tampa, Florida 

Population: 2.9 millionPopulation Growth 2010 to 2017: 14.81%Average Home Price: $208,400Annual Housing Growth: 9.9%Average Rent Price: $1390Annual Rent Growth: 1.4%

Tampa’s unemployment rate is 4.8%, which is below the national average of 5.2%. Its job market also looks promising with employment growth at 1.6% over the last year.

5. Atlanta, Georgia 

Population: 5.6 millionPopulation Growth 2010 to 2017: 15.78%Average Home Price : $209,700Average Housing Growth: 12.3%Average Rent Price: $1394Average Rent Growth: 0.7%

For a large city, Atlanta is affordable and people are starting to take notice. The population has grown by almost 16% since 2010. The average home price is just over $200,000, with an average rent close to $1400. Home to corporate giants like CNN, Home Depot and UPS, job growth is up 2.2% this year.

6. Jacksonville, Florida

Population: 1.4 millionPopulation Growth 2010 to 2017: 8.55%Average Home Price: $204,600Annual Housing Growth: 9.6%Average Rent Price: $1340Annual Rent Growth: 1.6%

Jacksonville, Florida has had steady growth since 2010 with a population increase of 8.5%. Jacksonville’s cost of living is 0.5% lower than the United States average. It boasts a diverse economy which includes a port mixed with banks, financial institutions and large companies like BellSouth.

7. Orlando, Florida 

Population: 2.3 MillionPopulation Growth 2010 to 2017 Census: 17.61 %Average Home Price: $231,000Annual Housing Growth: 9.7%Average Rent Price: $1449Annual Rent Growth: 1%

Orlando, Florida, once seen primarily as a vacation destination, has now become the happiest place on earth for many real estate investors. Homes are still affordable at an average price of just over $230,000 and rent prices are substantial. An average rent price of $1450 will help offset the purchase price.

The population has increased by almost 18% since 2010. A booming economy, recent storms along the Florida coasts and a desire to live downtown have all increased Orlando’s desirability.

8. Minneapolis, Minnesota

Population: 3.5 millionPopulation Growth 2010 to 2017: 10.39%Average Home Price: $263,300Annual Housing Growth: 6.8%Average Rent Price: $1638Annual Rent Growth: 0.5%

With an average rent over $1600, Minneapolis is a city to consider. Home prices hover around $250,000. It has a very diverse economy and is home to numerous corporations including Target, 3M and United Healthcare. It has a low unemployment rate of 3.7%.

9. Las Vegas, Nevada

Population: 2.1 millionPopulation Growth 2010 to 2017: 9.92%Average Home Price: $273,800Annual Housing Growth: 15.4%Average Rent Price: $1305Annual Rent Growth: 1.4%

Job growth in Las Vegas, Nevada is positive, with a 3.5% increase in the last year. Jobs in the health and education sectors have increased by 50% since 2008, marking a push to diversify the economy dominated by tourism.

10. Durham, North Carolina

Population: 267,743Population Growth 2010 to 2017: 17.26%Average Home Price: $234,400Annual Housing Growth: 7.5%Average Rent Price: $1394Annual Rent Growth: 0%

Housing growth is up 7.5% in Durham and average rents near $1400 a month. Durham boasts a strong economy centered on its proximity to colleges such as Duke University and the University of North Carolina at Chapel Hill. Other desirable features include a commute time of 8 minutes when the national average is 26 minutes and a low unemployment rate of 4.4%.

Great opportunities to invest in rental property exist all across the United States. Many factors need to be evaluated to determine if a potential investment will be profitable now and in the future. Factors used to determine the best places to buy rental property in 2018 include:

Average Home Price and GrowthAverage Rental Price and GrowthPopulation GrowthEmployment Opportunities

Here are ten rental markets that have promising rental property investments in 2018.

10 Best Places to Buy Rental Property in 2018

1. Memphis, Tennessee 

Population: 1.3 millionPopulation Growth 2010 to 2017: 0.83%Average Home Price: $136,200Annual Housing Growth: 9.6%Average Rent Price: $1094Annual Rent Growth: 3.4%

Homes are affordable in Memphis with an average price at $136,000. Housing has grown by 9.6% over the last year and rent prices have grown by 3.4%. Memphis is an entertainment and cultural hub with a desirable cost of living, which is 15.7% below the national average.

2. Houston, Texas 

Population: 6.5 millionPopulation Growth 2010 to 2017: 10.12%Average Home Price: $200,900Annual Housing Growth: 6.3%Average Rent Price: $1548Annual Rent Growth: 0.1%

Home prices hover at $200,000 and average rents at almost $1550 a month. These numbers are promising for a profitable rental property investment. Houston’s population continues to grow with an increase of over 10% since 2010.

3. Columbus, Ohio 

Population: 2 millionPopulation Growth 2010 to 2017: 11.71%Average Home Price: $184,200Annual Housing Growth: 7.9%Average Rent Price: $1336Annual Rent Growth: 0.4%

Home prices in Columbus, Ohio are affordable with an average cost of $184,000. Average rent prices of $1330 are substantial, especially when compared to the average home cost. The cost of living in Columbus is 9.6% lower than the United States average.

4. Tampa, Florida 

Population: 2.9 millionPopulation Growth 2010 to 2017: 14.81%Average Home Price: $208,400Annual Housing Growth: 9.9%Average Rent Price: $1390Annual Rent Growth: 1.4%

Tampa’s unemployment rate is 4.8%, which is below the national average of 5.2%. Its job market also looks promising with employment growth at 1.6% over the last year.

5. Atlanta, Georgia 

Population: 5.6 millionPopulation Growth 2010 to 2017: 15.78%Average Home Price : $209,700Average Housing Growth: 12.3%Average Rent Price: $1394Average Rent Growth: 0.7%

For a large city, Atlanta is affordable and people are starting to take notice. The population has grown by almost 16% since 2010. The average home price is just over $200,000, with an average rent close to $1400. Home to corporate giants like CNN, Home Depot and UPS, job growth is up 2.2% this year.

6. Jacksonville, Florida

Population: 1.4 millionPopulation Growth 2010 to 2017: 8.55%Average Home Price: $204,600Annual Housing Growth: 9.6%Average Rent Price: $1340Annual Rent Growth: 1.6%

Jacksonville, Florida has had steady growth since 2010 with a population increase of 8.5%. Jacksonville’s cost of living is 0.5% lower than the United States average. It boasts a diverse economy which includes a port mixed with banks, financial institutions and large companies like BellSouth.

7. Orlando, Florida 

Population: 2.3 MillionPopulation Growth 2010 to 2017 Census: 17.61 %Average Home Price: $231,000Annual Housing Growth: 9.7%Average Rent Price: $1449Annual Rent Growth: 1%

Orlando, Florida, once seen primarily as a vacation destination, has now become the happiest place on earth for many real estate investors. Homes are still affordable at an average price of just over $230,000 and rent prices are substantial. An average rent price of $1450 will help offset the purchase price.

The population has increased by almost 18% since 2010. A booming economy, recent storms along the Florida coasts and a desire to live downtown have all increased Orlando’s desirability.

8. Minneapolis, Minnesota

Population: 3.5 millionPopulation Growth 2010 to 2017: 10.39%Average Home Price: $263,300Annual Housing Growth: 6.8%Average Rent Price: $1638Annual Rent Growth: 0.5%

With an average rent over $1600, Minneapolis is a city to consider. Home prices hover around $250,000. It has a very diverse economy and is home to numerous corporations including Target, 3M and United Healthcare. It has a low unemployment rate of 3.7%.

9. Las Vegas, Nevada

Population: 2.1 millionPopulation Growth 2010 to 2017: 9.92%Average Home Price: $273,800Annual Housing Growth: 15.4%Average Rent Price: $1305Annual Rent Growth: 1.4%

Job growth in Las Vegas, Nevada is positive, with a 3.5% increase in the last year. Jobs in the health and education sectors have increased by 50% since 2008, marking a push to diversify the economy dominated by tourism.

10. Durham, North Carolina

Population: 267,743Population Growth 2010 to 2017: 17.26%Average Home Price: $234,400Annual Housing Growth: 7.5%Average Rent Price: $1394Annual Rent Growth: 0%

Housing growth is up 7.5% in Durham and average rents near $1400 a month. Durham boasts a strong economy centered on its proximity to colleges such as Duke University and the University of North Carolina at Chapel Hill. Other desirable features include a commute time of 8 minutes when the national average is 26 minutes and a low unemployment rate of 4.4%.

Great opportunities to invest in rental property exist all across the United States. Many factors need to be evaluated to determine if a potential investment will be profitable now and in the future. Factors used to determine the best places to buy rental property in 2018 include:

• Average Home Price and GrowthAverage Rental Price and GrowthPopulation GrowthEmployment Opportunities

Here are ten rental markets that have promising rental property investments in 2018.

10 Best Places to Buy Rental Property in 2018

1. Memphis, Tennessee 

• Population: 1.3 millionPopulation Growth 2010 to 2017: 0.83%Average Home Price: $136,200Annual Housing Growth: 9.6%Average Rent Price: $1094Annual Rent Growth: 3.4%

Homes are affordable in Memphis with an average price at $136,000. Housing has grown by 9.6% over the last year and rent prices have grown by 3.4%. Memphis is an entertainment and cultural hub with a desirable cost of living, which is 15.7% below the national average.

2. Houston, Texas 

• Population: 6.5 millionPopulation Growth 2010 to 2017: 10.12%Average Home Price: $200,900Annual Housing Growth: 6.3%Average Rent Price: $1548Annual Rent Growth: 0.1%

Home prices hover at $200,000 and average rents at almost $1550 a month. These numbers are promising for a profitable rental property investment. Houston’s population continues to grow with an increase of over 10% since 2010.

3. Columbus, Ohio 

• Population: 2 millionPopulation Growth 2010 to 2017: 11.71%Average Home Price: $184,200Annual Housing Growth: 7.9%Average Rent Price: $1336Annual Rent Growth: 0.4%

Home prices in Columbus, Ohio are affordable with an average cost of $184,000. Average rent prices of $1330 are substantial, especially when compared to the average home cost. The cost of living in Columbus is 9.6% lower than the United States average.

4. Tampa, Florida 

• Population: 2.9 millionPopulation Growth 2010 to 2017: 14.81%Average Home Price: $208,400Annual Housing Growth: 9.9%Average Rent Price: $1390Annual Rent Growth: 1.4%

Tampa’s unemployment rate is 4.8%, which is below the national average of 5.2%. Its job market also looks promising with employment growth at 1.6% over the last year.

5. Atlanta, Georgia 

• Population: 5.6 millionPopulation Growth 2010 to 2017: 15.78%Average Home Price : $209,700Average Housing Growth: 12.3%Average Rent Price: $1394Average Rent Growth: 0.7%

For a large city, Atlanta is affordable and people are starting to take notice. The population has grown by almost 16% since 2010. The average home price is just over $200,000, with an average rent close to $1400. Home to corporate giants like CNN, Home Depot and UPS, job growth is up 2.2% this year.

6. Jacksonville, Florida

• Population: 1.4 millionPopulation Growth 2010 to 2017: 8.55%Average Home Price: $204,600Annual Housing Growth: 9.6%Average Rent Price: $1340Annual Rent Growth: 1.6%

Jacksonville, Florida has had steady growth since 2010 with a population increase of 8.5%. Jacksonville’s cost of living is 0.5% lower than the United States average. It boasts a diverse economy which includes a port mixed with banks, financial institutions and large companies like BellSouth.

7. Orlando, Florida 

• Population: 2.3 MillionPopulation Growth 2010 to 2017 Census: 17.61 %Average Home Price: $231,000Annual Housing Growth: 9.7%Average Rent Price: $1449Annual Rent Growth: 1%

Orlando, Florida, once seen primarily as a vacation destination, has now become the happiest place on earth for many real estate investors. Homes are still affordable at an average price of just over $230,000 and rent prices are substantial. An average rent price of $1450 will help offset the purchase price.

The population has increased by almost 18% since 2010. A booming economy, recent storms along the Florida coasts and a desire to live downtown have all increased Orlando’s desirability.

8. Minneapolis, Minnesota

• Population: 3.5 millionPopulation Growth 2010 to 2017: 10.39%Average Home Price: $263,300Annual Housing Growth: 6.8%Average Rent Price: $1638Annual Rent Growth: 0.5%

With an average rent over $1600, Minneapolis is a city to consider. Home prices hover around $250,000. It has a very diverse economy and is home to numerous corporations including Target, 3M and United Healthcare. It has a low unemployment rate of 3.7%.

9. Las Vegas, Nevada

• Population: 2.1 millionPopulation Growth 2010 to 2017: 9.92%Average Home Price: $273,800Annual Housing Growth: 15.4%Average Rent Price: $1305Annual Rent Growth: 1.4%

Job growth in Las Vegas, Nevada is positive, with a 3.5% increase in the last year. Jobs in the health and education sectors have increased by 50% since 2008, marking a push to diversify the economy dominated by tourism.

10. Durham, North Carolina

• Population: 267,743Population Growth 2010 to 2017: 17.26%Average Home Price: $234,400Annual Housing Growth: 7.5%Average Rent Price: $1394Annual Rent Growth: 0%

Housing growth is up 7.5% in Durham and average rents near $1400 a month. Durham boasts a strong economy centered on its proximity to colleges such as Duke University and the University of North Carolina at Chapel Hill. Other desirable features include a commute time of 8 minutes when the national average is 26 minutes and a low unemployment rate of 4.4%.