In comparison, San Francisco is in the mid to high 20's%. 

If you are getting several calls a week, you are probably about right.If you are showing the property and not getting applications, there is a problem with your property in comparison to competition or your rent is too high.

That latest statistic is totally useless in your comparison because you don't tell us 1) what the poverty rate is in Mexico and Belize and 2) what the increase in poverty in Belize was over last year.Regarding the increase in poverty rate in Mexico last year, I don't know if it's 44% but I know it has increased. 44% looks like a lot but it's entirely possible because it's due to Covid, which you could have figured out.

It's just a comparison metric to boil down net income vs price.

Philly with the flat roofs and smaller properties in the city can have low expenses in comparison to the rent.

That should lead you to question the apples-2-apples comparison of Cap rates.

The property taxes are probably higher in comparison to other markets.

I can tell you the taxes in North Carolina were tiny in comparison to most parts of Texas. suburbs of Dallas, Texas and Houston texas are great.

@Edward Burns in some cases it is not about increasing rent but about letting them know the value of an included service in comparison to other properties.

Bedrooms, bathrooms and square footage below ground do not get counted for comparison purposes.