Best Counties for Buying Single-Family Rentals
According to data from ATTOM’s Q1 2021 Single Family Rental Market report, the average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 495 counties is 7.7% for 2021, down from an average of 8.4% in 2020. However, ATTOM says it’s not all bad news for rental property investors. Indeed…
“The single-family home rental business is less profitable this year compared to last year across most of country, with yields on the average deals decreasing….”
[HOWEVER]
“…returns on single-family rentals still generally remain strong and there are pockets, especially in the Midwest, where yields top 10 percent. There also are some signs that things could improve this year given that home prices are increasing faster than rents.” said Todd Teta, chief product officer at ATTOM Data Solutions.
ATTOM’s report analyzed single family rental returns in 495 U.S. counties, each with a population of at least 100,000 and sufficient rental and home price data. Rental data came from the U.S. Department of Housing and Urban Development, and home price data from publicly recorded sales deed data collected and licensed by ATTOM Data Solutions.
Click here to read the full report at ATTOM Data Solutions.
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