Based upon home prices, economy, rents, and job growth, the best city for being a landlord is Houston, Texas.
1. Houston, Texas with Projected 3-year rent increase of 18%, Q2 home price of $174,000, Current monthly rent of $818, and an annual job growth of 2.5%.
According to Local Market Monitor, the other top cities for being a landlord are
2. Grand Rapids, MI
3. Rochester, NY
4. Dallas, TX
5. Tulsa, OK
In Spring, Texas, the demand for single family homes rentals are up 25% over 2010. Property managers are reporting increases in monthly rents of 5% to 10%. It’s the first rental increase they have seen over the last several years. People relocating to Spring Texas are surprised and disappointed with how little their rental housing dollars stretch. Tougher loan requirements, higher down payments, and previous homeowners now having to rent due to foreclosure are all driving demand for rental properties.