While Millennials are beginning to reach an age to be first time homebuyers, the struggle to obtain a mortgage and find a starter home on the market is turning them to renting single family homes. This is great news for investors. In fact the rise of where these homes are being rented may surprise you! Are you looking to target a new area? These cities are where you should start looking. CNBC reports these towns to be the top ten for investors due to single-family property rent rates:
| 1. Cape Coral, Ft. Myers, FL
2. Naples, Marco Island, FL 3. Knoxville, TN 4. North Port, Bradenton, Sarasota, FL 5. Shreveport, Bossier City LA 6. Syracuse, NY 7. Milwaukee, Waukesha, West Allis, WI 8. Deltona, Daytona Beach, Ormond Beach, FL 9. New Orleans, Metairie, Kenner LA 10. Charleston, North Charleston, NC |
While Florida may not come as a surprise to anyone, places like Knoxville, Syracuse and Milwaukee making the top ten is surprising. It’s also been found that large institutional investors are starting to fall in numbers of properties they’re investing in, which is opening the door for smaller businesses or personal investors to have more of an opportunity at properties. Investing in rental homes is an advantageous choice in this current housing market, until there becomes a sturdy balance in homes for sale and homebuyers.
For the complete CNBC article, click here.
