Top 10 U.S. Affordable Renal Housing Markets

When trying to get the most bang for your buck for owning rentals, it is important to analyze the market's market pricing compared to the average rental prices. Additionally, whether the market has a high rental demand. 

Markets with affordable rental markets tend to be better deals, because the market value tends to be closer to follow the 1% rule more frequently and tend to be less inflated.

An article from ATTOM Data, written by Christine Stricker, lists out the top U.S. housing markets most affordable for renting in 2023.

1. Jefferson County, AL

2. Pulaski County, AR

3. Cuyahoga County, OH

4. Wayne County, MI

5. Summit County OH

6. Montgomery County, OH

7. Montgomery County, AL

8. Shelby County, TN

9. Saint Louis County, MO 

10. Jackson County, MO 

While you are researching markets to add to your portfolio, I would start here and cross-reference the average sales price and average rental prices for the past quarter. In Jackson County, MO where I invest, we are averaging .85-.98 RTV, which is a great window for rental investment viability. It also has a 41.6% renter percentage and according to Census ACS data, a 4.92% vacancy rate, which is .8% below the standard assumption generally used in pitch decks for SFRs.

Sources:

Christine Stricker, Top 10 U.S. Housing Markets Most Affordable for Renting in 2023, ATTOM Data, Jan 20t, 2023, https://www.attomdata.com/news...

Jackson County Missouri Residential Rent and Rental Statistics, Department of Numbers, https://www.deptofnumbers.com/...

Jackson County, Missouri Housing Data, Town Charts, https://www.towncharts.com/Mis...