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ATTOM Data Solutions Releases Best Counties For Buying Single Family Rentals In 2020IRVINE, Calif., March 12, 2020 /PRNewswire/ -- ATTOM Data Solutions, curator of the nation's premier property database first property data provider of Data-as-a-Service (DaaS), today released its Q1 2020 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2020. The report analyzed single-family rental returns in 389 U.S. counties with a population of at least 100,000 and sufficient rental and home price data. Rental data comes from the U.S. Department of Housing and Urban Development, and home price data comes from publicly recorded sales deed data collected and licensed by ATTOM Data Solutions (see full methodology below). View interactive map displaying SFR returns in all 389 counties analyzed The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020, down slightly from an average of 8.6 percent in 2019. "The business of buying single-family homes for rent has lost a little steam this year across the United States as rents aren't rising quite as fast as prices for investment rental properties in a majority of the country," said Todd Teta, chief product officer at ATTOM Data Solutions. "But from the national perspective, things are generally holding steady for landlords in the single-family home rental market. Also, profit trends are moving in favor of investors in higher-rent counties and against those in lower-rent regions." Counties in Baltimore, Vineland, Macon, Mobile and Atlanta metro areas post highest rental returns Among counties with a population of at least 1 million, the highest potential gross rental yields in 2020 are in Wayne County (Detroit), MI (14.5 percent); Cuyahoga County (Cleveland), OH (11.8 percent); Cook County, IL (9.3 percent); Dallas County, TX (9.1 percent); and Harris County, TX (8.7 percent). Rental returns decrease from a year ago in over half the counties analyzed The biggestdecreases in potential annual gross rental yields for 2020 compared to 2019 among counties with a population of at least 1 million are Wayne County, MI (down 16.6 percent); Philadelphia County, PA (down 9.6 percent); Oakland County, MI, in the Detroit metro area (down 8.9 percent); Franklin County, OH (down 7.0 percent); and Bexar County, TX (down 4.0 percent). Counties in San Francisco, New York, and Nashville metro areas post lowest rental returns Along with Kings County and Santa Clara County, the lowest potential annual gross rental yields in 2020 among counties with a population of at least 1 million are in Orange County, CA (5.0 percent); Queens County, NY (5.1 percent); and Los Angeles County, CA (5.2 percent). Wages rising faster than rents in 53 percent of markets Rents rose faster than wages in 183 of the 389 counties analyzed (47.0 percent), including Los Angeles County, CA; Cook County (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA and Orange County, CA, in the Los Angeles metro area. Prices rising faster than rents in 59 percent of markets Rents rose faster than prices in 2019 in 158 of the 389 counties analyzed (40.6 percent), including Los Angeles County, CA; Cook County (Chicago), IL; San Diego County, CA; Orange County, CA, in the Los Angeles metro area, and Miami-Dade County, FL. Prices rising faster than wages in 61 percent of markets Wages rose faster than prices in 151 of the 389 counties analyzed (38.8 percent), including Cook County (Chicago), IL; Harris County (Houston), TX; Queens County, NY; King County (Seattle), WA and Clark County (Las Vegas), NV. Best SFR growth markets include Detroit, Cleveland, Milwaukee, and Memphis The 73 SFR Growth markets include Wayne County (Detroit), MI; Cuyahoga County (Cleveland), OH; Milwaukee County, WI; Shelby County, TN, in the Memphis metro area; and Macomb County, MI. Methodology ATTOM Data Solutions incorporates the most recent (Q3 2019) weekly wage data from the Bureau of Labor Statistics. About ATTOM Data Solutions Media Contact: Data and Report Licensing:
View original content to download multimedia:http://www.prnewswire.com/news-releases/attom-data-solutions-releases-best-counties-for-buying-single-family-rentals-in-2020-301021779.html SOURCE ATTOM Data Solutions |