Best Counties for Buying Single-Family Rentals In 2023

BY  ON MARCH 28, 2023

ATTOM Data recently released their Q1 2023 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2023. Click here to read more.

Among the findings;  The report says the average annual gross rental yield on three-bedroom properties, (annualized gross rent income divided by purchase price) among the 212 counties analyzed is projected to be 7.5% in 2023. That is up from an average of 6.7% in 2022 in those same markets and marked the first time since at least 2019 that the figure rose nationwide.  To get their data, ATTOM analyzed single-family rental returns in 212 U.S. counties with a population of at least 100k and sufficient rental & home price data.

“The broader housing market didn’t fare nearly as well in 2022 as it did in 2021. Prices finally hit the wall, at least temporarily. But that appears to be benefitting the growing number of investors around the U.S. who rent out single-family properties…Rents for single-family homes are growing while prices have flattened out, which has helped boost yields for landlords for the first time in at least several years.”  Said Rob Barber, chief executive officer at ATTOM.

In addition, ATTOM found that counties with the highest potential annual gross rental yields for 2023 are Indian River County, FL, in the Sebastian-Vero Beach metro area (15%); Collier County, FL, in the Naples metro area (14.7%); Wayne County, MI, in the Detroit metro area (13%); Mercer County, NJ, in the Trenton metro area (12.7%) and Charlotte County, FL, in the Punta Gorda metro area (12%).

Click here to read the full report at ATTOM.

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  • Hamza Ashfaq
    published this page in Updates 2023-04-28 05:20:15 -0600