HomeUnion, based out of Irvine, California, released a list of the top prospective rental markets that they’re calling the “opportunity” list for prospective real estate investors. The single-family-rental acquisition and management company cited higher retirement rates and booming job markets as their reasoning behind the top three choices for hot new rental markets. Cities that were previously always on this list, San Jose and San Francisco, California, have now disappeared because of competition from rising home sales. The following list are the top ten opportunities for land and property acquisition for prospective single-family-rentals.
Two new large stadiums are being built here which will cause a flux in jobs which will create a need for rentals. The movie and television industries have also been putting down ties in this Georgia city.
As the baby boomers begin to retire a huge amount of retirees are searching for sunnier climates, many opting for rentals in Orlando.
Rising home prices are making rentals a necessity to support the huge workforce that has been born from legal cannabis in Washington.
4. Las Vegas
Nevada recently legalized cannabis and those in the industry are planning huge infrastructure to support the needs of their own residents and that of the tourists.
A dramatic change in renters from previous years show that Millennials are flocking to Chicago’s high priced rental market.
6. San Diego
With no more space to build new homes rent prices just continue to rise alongside the need for housing making it a prime place for potential real estate investors.
7. Oakland, Calif.
Booming job markets in San Francisco cannot support the housing needs. BART makes it easy for commuters to work in the city and live in Oakland.
This industrial town has been recovering for years but it seems that the rental market continues to get hotter as younger families begin to move in.
9. Dallas-Fort Worth
As one of the top markets for real estate investors Dallas-Fort Worth Areas both have the space for developers to move in.
Home prices continue to get higher and higher making Memphis a prime place for a soon to be booming housing market.
These cities all feature higher home prices as compared to asking rent making them ideal for potential investors to start building or buyout older buildings. It seems that California is a cooler market aside from smaller towns San Diego and Oakland because home prices are competing with considerable supply of rental housing. If investors build more apartments they will simply be driving their own rental margins up.