Saturday, March 25, 2017
IRVINE, CA — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its Q1 2017 Single Family Rental Market report, which ranks the best U.S. markets for buying single family rental properties in 2017.
The report analyzed single family rental returns in 375 U.S. counties each with a population of at least 100,000 and sufficient rental and home price data, along with more than 6,000 U.S. zip codes with a population of 2,500 more and sufficient rental and home price data.
Rental data was from the U.S. Department of Housing and Urban Development, and home price data was from publicly recorded sales deed data collected and licensed by ATTOM Data Solutions.
The average annual gross rental yield (annualized gross rent income divided by median purchase price of single family homes) among the 375 counties was 9.0 percent for 2017, down from an average of 9.1 percent in 2016.
“While good returns on single family rentals are hard to come by in high-priced coastal markets and in some other housing hot spots such as Denver and parts of Dallas, Austin and Nashville, solid returns on single family rentals will continue to be available in many parts of the Southeast, Rust Belt and Midwest for investors purchasing in 2017,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
“And single family rentals should continue to yield strong returns in many parts of the country going forward given the market undercurrents of low rent-ready housing inventory and low homeownership rates.
“Average fair market rents increased in 2017 in 86 percent of the markets we analyzed even while average wage growth outpaced rent growth in 67 percent of markets — a recipe for sustainable growth in the rental market.”
For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Posted by Alex at 1:13 PM