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| Daren Blomquist |
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
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