Need to Find Out of State Owners?

[Brian Gibbons]

From

Why Are Blue State Investors Renting Out Red State Homes?

A new analysis from ATTOM Data Solutions has found that 16 percent of all single-family investment homes in the United States are owned by out-of-state investors‒‒and most of these setups are owners from politically blue states renting out homes in predominantly red states.

California, with more than 452,000 single-family investment homes itself, leads states in investors owning the most out-of-state investment homes. According to ATTOM, 24 percent of all investment homes owned by Californians are located out of state. Florida, Texas, New York, Illinois, and Virginia round out the top five states where investors own out-of-state property. Overall, there are 3.4 million single-family, non-owner occupied homes nationwide.

“In many cases those lower-priced markets are in politically red states with the out-of-state investors often hailing from politically blue states,” ATTOM reported. “Passive real estate investors—think young professionals with well-paying day jobs or baby boomer homeowners flush with home equity wealth—in high-priced housing markets are looking beyond their backyards for real estate investing opportunities in lower-priced markets.”

Florida, with 366,000 investment homes, leads states with the most homes owned by out-of-state investors. Second-place North Carolina featured 202,00 such homes, with Tennessee, Arizona, and Georgia close behind. Texas, just as it did for states with the most property owners invested outside the state, finished high on the list of states where outside investors own a lot of property.

Maricopa County, Arizona, home to Phoenix, led counties with the most investment homes owned by out-of-state investors are. Clark County, Nevada (Las Vegas); Lee County, Florida (Cape Coral); Cape May County, New Jersey (Ocean City); and Wayne County, Michigan (Detroit), rounded out the top-five.

To view the full report from ATTOM Data Solutions, click HERE.