No matter what happens in the U.S. housing market, one thing is for sure: rental prices will continue to rise. This is good news for real estate investors who want to find cities with the most growth potential. This blog post will explore the top ten U.S. rental markets for real estate investors in 2022 and why you might want to consider them.
The Top Five U.S. Rental Markets For Real Estate Investors In 2022:
Investments in rental property can be a precious method to diversify your portfolio, generate passive income, or increase your retirement savings. Rental real estate offers a wide range of opportunities in the current hot rental market, from single-family homes to multifamily buildings.
Rental prices have been rising steadily for the past few years, and there’s no sign of slowing down. On average, rental rates have increased 17.8% in the last year, with some cities seeing even more significant increases, making now an excellent time for investors looking to profit in the rental market.
Here are the top five markets that we think have a lot of potential for investors in 2022.
#1: Austin, Texas
Austin has been one of the hottest rental markets in recent years and shows no signs of slowing down. It’s located in central Texas and is known for its live music scene, AAA food ratings, and outdoor recreation. The population of Austin has multiplied in recent years, making it the 11th-largest city in the country.
The job market in Austin is also robust, with an unemployment rate of just over three percent. The average rental price in Austin is $1,820 per month, YOY rent growth of 24.3%, and the median home price is $625,000.
Austin is an excellent option if you’re looking for a city with a lot of culture and opportunities.
Tampa, Florida
Tampa is one of the fastest-growing rental and property markets in the country. It’s located on Florida’s west coast, noted for its warm climate, immaculate beaches, and a wealth of urban amenities.
Some of the nation’s most extraordinary YOY rent growth forecasts are for Tampa, coming in at 31.4%. Tampa has excellent rental potential for real estate investors, with average unemployment rates of 3.8%, median home prices around $350,000, and median rental rates of $1,760.
Tampa is an excellent option if you’re looking for an area with a lot of growth potential.
#2: Tampa, Florida
Tampa is one of the fastest-growing rental and property markets in the country. It’s located on Florida’s west coast, noted for its warm climate, immaculate beaches, and a wealth of urban amenities.
Some of the nation’s most extraordinary YOY rent growth forecasts are for Tampa, coming in at 31.4%. Tampa has excellent rental potential for real estate investors, with average unemployment rates of 3.8%, median home prices around $350,000, and median rental rates of $1,760.
Tampa is an excellent option if you’re looking for an area with a lot of growth potential.
Phoenix, Arizona
Phoenix is another city with a lot of potential for rental growth. It’s located in the southwestern United States and is known for its sunny weather and desert landscapes. The population of Phoenix has been growing rapidly in recent years, and it’s now the fifth-largest city in the country.
The job market is also booming in Phoenix, with the unemployment rate hovering around just 3.2% and a median home price of $415,000. The average rental price in Phoenix is $1,490 per month, a staggering rental growth of 27.9% year over year.
Phoenix is a good choice if you’re looking for a city with great weather and many opportunities.
#3: Phoenix, Arizona
Phoenix is another city with a lot of potential for rental growth. It’s located in the southwestern United States and is known for its sunny weather and desert landscapes. The population of Phoenix has been growing rapidly in recent years, and it’s now the fifth-largest city in the country.
The job market is also booming in Phoenix, with the unemployment rate hovering around just 3.2% and a median home price of $415,000. The average rental price in Phoenix is $1,490 per month, a staggering rental growth of 27.9% year over year.
Phoenix is a good choice if you’re looking for a city with great weather and many opportunities.
Boston, Massachusettes
Boston is the capital of Massachusetts and one of the most historic cities in the United States. It’s also one of the most expensive rental markets in the country, with a median rental price of $2,140 per month and a median home price of $709,900. Despite this, Boston still has a lot to offer investors. The unemployment rate is 4.7%, and the city has a population of 700,000.
The YOY rent growth in Boston was around 25.7%, making it an excellent choice for investors looking for stability and potential appreciation.
Boston is a good option if you’re looking for an expensive but stable rental market.
#4: Boston, Massachusettes
Boston is the capital of Massachusetts and one of the most historic cities in the United States. It’s also one of the most expensive rental markets in the country, with a median rental price of $2,140 per month and a median home price of $709,900. Despite this, Boston still has a lot to offer investors. The unemployment rate is 4.7%, and the city has a population of 700,000.
The YOY rent growth in Boston was around 25.7%, making it an excellent choice for investors looking for stability and potential appreciation.
Boston is a good option if you’re looking for an expensive but stable rental market.
#5: Greensboro, North Carolina
Located in central North Carolina, Greensboro is the third-largest city in the state and is known for its universities, museums, and cultural diversity. Greensboro’s job market is booming, with an unemployment rate near four percent.
The average rental price in Greensboro is $1,384 per month, and the median home price is $215,000. The YOY rent growth in Greensboro was an impressive 23.2%, making it a great choice for investors looking for stability and potential appreciation.
Greensboro is a great option if you’re looking for a city with a lot of opportunity and diversity.
Choosing The Best Rental Market To Invest In
The ideal situation for investors is discovering the highest returns with the least risk. Investors often look for locations with high rental demand and low unemployment rates. They also consider how much rent is expected to grow in the area.
Even though these are all essential things to think about, this article mainly covers general trends. There will always be markets where it’s possible to make money from rental properties. But it’s essential to research before investing in a rental property to know the numbers will work for you.
About Us:
Red Oak Development Group specializes in developing land to create build-ready lots for residential communities. The company has successfully financed eight separate projects and has 510 lots under development. Red Oak’s success results from the company’s vision, desire to build honest and transparent relationships with business partners, use of high-quality construction materials, and work with the best construction companies and award-winning partners.
Book a call with our CEO today if you’d like to learn more about our projects.
