DATA IN ACTION
Single Family Rental Returns by County: 2017 2016 Home Flipping Rate (Pct of Total Sales)
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Best Markets for Buying Single Family Rentals in 2017
According to the ATTOM Data Solutions Q1 2017 Single Family Rental Market Report, counties with the highest annual gross rental yields for the first quarter of 2017 were Clayton County, Georgia, in the Atlanta metro area (23.7 percent); Baltimore City, Maryland (23.6 percent); Bibb County, Georgia, in the Macon metro area (23.5 percent); Monroe County, Pennsylvania, in the East Stroudsburg metro area (20.6 percent); and Saginaw County, Michigan (18.8 percent). Among 40 counties with a population of at least 1 million people, those with the highest gross rental yields were Wayne County, Michigan, in the Detroit metro area (17.3 percent); Cuyahoga County, Ohio in the Cleveland metro area (13.2 percent); Allegheny County, Pennsylvania, in the Pittsburgh metro area (10.6 percent); Philadelphia County, Pennsylvania (10.1 percent); and Franklin County, Ohio in the Columbus metro area (9.9 percent).
The report also identified and ranked 25 counties with the best potential for future growth in returns on single family rentals. In all 25 counties, average weekly wages increased at least 5 percent annually and outpaced growth in fair market rents. All 25 counties also had gross annual yields of 9.5 percent or higher. The top five counties for single family rental growth were Trumbull County, Ohio, in the Youngstown metro area (17.2 percent); Saint Lawrence County, New York, in the Ogdensburg- Massena metro area (17.1 percent gross annual rental yield); Richmond County, Georgia, in the Augusta metro area (16.6 percent); Broome County, New York, in the Binghamton metro area (16.4 percent); and Lucas County, Ohio, in the Toledo metro area (14.5 percent).
ATTOM Data Solutions • P21
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