Looking to invest in some rental properties? New analysis from TurboTenant shows that the Midwest and East Coast have some of the biggest cities to cash in.
The report starts with 150 locations in the United States, then narrowed down to 31 cities with worth investing. Here is their Top 10:
1. Reading, Pennsylvania
Increase in home values: 11.1%
Median sales price: $140,000
Average rent (for a two-bedroom): $957
2. District Heights, Maryland
Increase in home values: 0.4%
Median sales price: $252,000
Average rent: $1,408
3. Allentown, Pennsylvania
Increase in home values: 19%
Median sales price: $145,000
Average rent: $1,063
4. East Orange, New Jersey
Increase in home values: 10%
Median sales price: $273,000
Average rent: $1,534
5. Nashua, New Hampshire
Increase in home values: 4.5%
Median sales price: $283,000
Average rent: $1,524
6. Cincinnati, Ohio
Increase in home values: 3.1%
Median sales price: $163,000
Average rent: $1,048
7. Paterson, New Jersey
Increase in home values: 11.9%
Median sales price: $268,000
Average rent: $1,614
8. New Castle, Delaware
Increase in home values: 8%
Median sales price: $188,000
Average rent: $1,884
9. Rochester, New York
Increase in home values: 5.6%
Median sales price: $136,000
Average rent: $1,126
10. Hyattsville, Maryland
Increase in home values: 0.4%
Median sales price: $279,000
Average rent: $1,982