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Jul
14

Atlanta is 16th-Best Renting Market

By on Jul 14

apartments in AtlantaAfter recent events leading to the current slump in the housing market, real estate markets are seeing more and more renters entering them. This has been the case in the Atlanta real estate market, as our city has been named the 16th-best market for rental properties.

The cities with the best rental climate generally have markets in which home prices have fallen substantially. Though it is apartments that are widely accepted as rentals, it is estimated by HomeVestors of America Inc. that 14 percent of America’s single-family homes are maintained as rental properties.

From January through May, about half of all home closings in Atlanta were under $100,000, and a further 23 percent were under $50,000, as reported by Steve Palm of Smart Numbers. Because home prices are below their previously seen average, these otherwise empty homes are easily turned into competitive rental properties. This is great news for those seeking to rent properties.

Out of 100 markets evaluated in the study by HomeVestors of America Inc., also known as the “We Buy Ugly Houses” company, Atlanta took the No. 16 rank for the best rental property market. Atlanta has a 1.5 percent risk-return premium whereas the average seen across the nation is 5.3 percent.

The top 10 spots went to:

  1. Las Vegas
  2. Detroit
  3. Warren, Mich.
  4. Orlando, Fla.
  5. Bakersfield, Calif.
  6. Tampa-St. Petersburg, Fla.
  7. Phoenix
  8. Ft. Lauderdale, Fla.
  9. Rochester, N.Y.
  10. Stockton, Calif.

For more information, visit the 

HomeVestors website.

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