New York and Florida areas rank among top 10 housing markets for investors

TRD New York /
Jul.July 11, 2011 02:07 PM

Rochester, N.Y., and the Florida cities of Fort Lauderdale, Orlando and Tampa have ranked in the top 10 best housing markets for investors in rental property, according to a report released today by HomeVestors of America, a property investment firm, and Local Market Monitor, a real estate data firm. The winners are generally in markets where home prices have fallen substantially, including Las Vegas, Detroit, Tampa and Phoenix.

Las Vegas, where home prices are down by more than 50 percent from their market peak, took the top spot in the list, offering the best returns on homes maintained as rental properties, according to the report, which took into account the potential home price appreciation and gross rents.

Predominantly a retirement market, home prices fell 10 percent in Tampa in the last 12 months due to over-supply of investment properties built during the boom.

Ingo Winzer, president and founder of Local Market Monitor, said: “Home prices in these markets also are below-average, so empty homes are easily turned into competitive rental properties. But there is also extra risk in these markets.”– Katherine Clarke


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Housing and Urban Development secretary Ben Carson (Getty; iStock)

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit
A photo illustration of Mayor Bill de Blasio at a restaurant (Getty)

NYC’s outdoor dining program will become permanent

NYC’s outdoor dining program will become permanent
The latest mansion amenity: Clean air

The latest mansion amenity: Clean air

The latest mansion amenity: Clean air
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first nod

Dezer’s 30-acre megaproject in North Miami Beach gets first nod
Mary Trump and President Donald Trump (Photos via LinkedIn and Getty)

Mary Trump sues her family for real estate inheritance “fraud”

Mary Trump sues her family for real estate inheritance “fraud”
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...