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Income Properties

By David Hodges on June 12, 2014
Estimated reading time: 1 minute

Detroit is now the hottest market for landlords

By David Hodges on June 12, 2014
Estimated reading time: 1 minute

The monthly mortgage payments in Detroit are far less than average monthly rents for the same properties

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Motor City is hardly one of the more desirable places to live in the United States, but data provided by RealtyTrac shows that Detroit offers U.S. real estate buyers the biggest return on their investment. Thanks to ultra-low housing prices, the monthly mortgage payments in Detroit are far less than average monthly rents for the same properties. As you can see below, you can still charge a reasonable rent in depressed areas, so the cheaper the house, the bigger the profit. American counties with the biggest real estate returns:

Detroit-Warren-Livonia, Mich.

Median home price: $44,900 Avg. monthly rent: $1,124 30% annual return

Greenville, Miss.

Median home price: $42,000 Avg. monthly rent: $862 25% annual return

Atlanta-Sandy Springs-Marietta, Ga.

Median home price: $50,750 Avg. monthly rent: $1,187 28% annual return

Macon, Ga.

Median home price: $50,880: Avg. monthly rent: $1,008 24% annual return Source: RealtyTrac, based on median sales prices for Jan. 2014 and average fair market rents.

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