Out of State Investors: Where to Find the Best Value in Price Per Square Foot

[Reese Brown]

The disparity between home costs and rent costs are not even across the U.S. For example the Average price per square foot to rent in Milwaukee, WI is $1.42. The median buying price is $119 PSF. While in Austin, TX the Average PPSF is very similar at $1.46, but the median buying price is $305. (source below)

I ran these numbers on my own portfolio (of 9 units, 4 properties, mostly updated with Low CapX) in Green Bay, WI and my tenants are paying on average $1.08 per SQFT and moy cost is $103 PSF. 

Based on this information alone, I couldn't imagine investing in Dallas. It's obvious that more data is needed to truly compare different cities accross the US. So out of state investors: what other data points/research do you use to determine where to invest? 

(I know this source is a few years old, it less about the exact numbers and more about the concept of Rent vs Purchsing PPSF)

https://www.rent.com/research/price-per-square-foot-rental-h...