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Richard Uzelac’s Best Places to Buy Rental Properties


Table of Contents

best places to buy rental properties 2023Best Places to Buy Rental Properties


Acquiring rental properties offer a lucrative opportunity for generating passive income and building long-term wealth. However, not all real estate markets are created equal when it comes to investing. The best locations to buy rental properties are affordable areas with strong job growth, low vacancy rates, and solid renter demand. Based on factors like population growth, employment rates, home prices, and rental yields, here are some top cities and metro areas to consider for rental real estate.

Houston, TX

With its booming economy and surging population growth, Houston is an excellent market for rental investments. Major employers like the Texas Medical Center and the energy industry help drive a strong job market. Home prices in Houston are relatively affordable, with median prices around $300,000. Popular rental areas include Katy, Cypress, Spring, and Klein, which offer reasonable home prices and higher cash flow potential. These suburban areas have high-performing school districts, attracting many families.

Nashville, TN

Renowned for its vibrant music scene and unmistakable Southern charm, Nashville has experienced massive growth over the past decade. Major companies like Amazon, AllianceBernstein, and Oracle have brought thousands of new jobs to the region. The metro population has increased over 30% since 2000. With over 100 people moving to Nashville every day, demand for rentals is high. While prices have risen across the area, homes can still be found for around $300,000 to $400,000, especially in suburbs like Mount Juliet and Hendersonville.

Charleston, SC

Charleston is consistently ranked as one of the fastest growing and most livable mid-sized metro areas in the U.S. Tourism and tech jobs are driving economic growth, while the city’s historic southern charm and beaches make it a popular place to live. Home prices average around $375,000, with more affordable options available in surrounding towns. Focus on finding homes in good school districts to appeal to families.

Myrtle Beach, SC

For a coastal town, Myrtle Beach remains relatively affordable, with median home prices around $250,000. The metro area has experienced rapid growth as retirees and families flock to its warm weather and beaches. A tourism-dependent economy means lots of service sector jobs. Invest in homes near the ocean or in retirement communities. With over 100 people moving to Myrtle Beach every day, renter demand is strong.

Phoenix Metro, AZ

The Phoenix area offers an extremely strong rental market, thanks to massive population growth and limited housing inventory. Maricopa County has added over 1 million new residents since 2010. Home prices remain fairly low, with median prices around $400,000. Focus on finding homes in Mesa, Chandler, Gilbert, and other Southeast Valley suburbs. Avoid buying downtown high-rises or properties in oversupplied areas like Buckeye.

Atlanta Metro, GA

Atlanta is one of the top destinations for relocations in the U.S. Large employers like Home Depot and Delta Air Lines are headquartered there. The metro population has grown by over 2.5 million since 2000. Invest in reasonably priced homes near major job centers like Cumberland, Alpharetta, Vinings, and Peachtree City. These areas have vibrant tenant pools of young professionals and families.

Orlando, FL

Tourism drives the Orlando economy, keeping rents high and vacancy rates low. Over 75 million people visit the area each year. Focus on buying near major theme parks or in downtown Orlando. Popular suburbs like Kissimmee and Sanford also make good investment areas. Home prices are fairly low for a major metro, with median prices around $300,000.

Finding the Best Rental Property Investments in The Beaches Area, Florida

As highlighted, key factors such as population growth, employment rates, and home prices determine the best areas for rental real estate. Here in Florida, great opportunities exist for investors to profit from the expanding rental market.

With our comprehensive MLS search enabled by IDX, you can easily browse listings and identify properties with high rental demand. Access up-to-date data on rental vacancies, average rents, and projected growth right on individual listings.

We will leverage our local expertise to help you find the right rental property that matches your investing goals. Get started now by searching listings or connecting with one of our agents.

Las Vegas, NV

Las Vegas offers cash flow potential, as over 40 million tourists flock there each year. The city also draws new residents with no state income tax, affordable housing, and ample entertainment options. The median home price is just over $400,000. Focus on neighborhoods away from the Strip, as they appeal more to long-term renters. Good areas include Summerlin, Green Valley, and Henderson.

When purchasing rental properties, carefully research local market conditions to identify cash-flowing investment opportunities. Favor areas with job growth, expanding populations, and limited housing inventory. Leverage expert real estate professionals to help assess prospective rental properties and neighborhoods. With the right property in the right market, generating passive income through real estate investing can prove highly rewarding over the long run.

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