HomeUnion Names the 40 Best Places to Buy Rental Properties in Winter 2018

IRVINE, Calif./ Jan. 9, 2018 (STLRealEstate.News) — HomeUnion, a leading online real estate investment and management firm, has released a list of the biggest seasonal bargains for investment housing, and found that the winter off-peak period can be the best time of the year to acquire single-family rentals (SFRs). On average, SFR investors paid 6.6 percent less per square foot for the same property during the winter of 2017/2018 as they did during the spring and summer buying season of 2017.

“For the second year in a row, our study found that the wintertime is the best season to acquire rental properties,” explains Steve Hovland, director of research for HomeUnion. “Median home prices drop substantially during the colder months, while rent losses remain marginal for landlords. On average, investors can acquire higher-yielding properties in cold-weather markets like Omaha, Neb.; Chicago and Hartford, Conn., as well as Charlotte and the Dallas/Fort Worth Metroplex. Rental properties in our top 10 metros are discounted between 20 percent and 32 percent in the winter months, representing a significant savings for investors,” says Hovland.

“Home prices are seasonal as many buyers and sellers delay an acquisition or disposition to avoid a move during a school year. As a result, smaller homes occupied by empty nesters or childless families are more likely to change hands,” notes Hovland.

Here’s a list of the 40 best metro areas to buy rental properties in the wintertime of 2018:

Metro Area

Temperature Spread (Degrees Fahrenheit)

Winter

SFR Price

Summer

SFR Price

Price Decline / Savings

Omaha, Neb.

50

$78,100

$115,000

-32.1%

Chicago

48

$185,000

$250,000

-26.0%

Hartford, Conn.

44

$153,000

$205,500

-25.5%

Columbus

43

$131,000

$175,000

-25.1%

Seattle

24

$389,500

$517,000

-24.7%

Washington, D.C.

42

$265,000

$349,900

-24.3%

New York, N.Y.

43

$309,000

$405,700

-23.8%

Cincinnati

44

$85,500

$110,200

-22.4%

Grand Rapids

47

$110,000

$140,000

-21.4%

Minneapolis

56

$163,800

$205,000

-20.1%

Buffalo

45

$119,900

$150,000

-20.1%

Detroit

46

$132,000

$165,000

-20.0%

Kansas City

48

$100,000

$124,900

-19.9%

San Francisco

12

$1,037,500

$1,285,000

-19.3%

Sacramento

29

$280,000

$345,000

-18.8%

Charlotte, N.C.

37

$127,000

$155,000

-18.1%

Philadelphia

42

$123,000

$150,000

-18.0%

Dallas

39

$167,000

$201,900

-17.3%

St. Louis

46

$91,100

$110,000

-17.2%

Portland, Me.

27

$286,700

$345,000

-16.9%

Salt Lake City

46

$217,800

$261,300

-16.6%

Louisville

43

$94,000

$111,600

-15.8%

Atlanta

36

$115,000

$135,000

-14.8%

Miami

16

$205,000

$240,400

-14.7%

Houston

30

$145,000

$168,500

-13.9%

Rochester, N.Y.

45

$120,000

$138,800

-13.5%

San Jose

20

$823,500

$950,000

-13.3%

Providence, R.I.

42

$200,300

$230,000

-12.9%

Raleigh, N.C.

38

$169,000

$192,500

-12.2%

Boston

44

$290,000

$330,000

-12.1%

Pittsburgh

43

$75,200

$85,000

-11.5%

Las Vegas

41

$208,500

$235,000

-11.3%

Memphis

41

$81,000

$91,200

-11.2%

Tampa

23

$120,000

$135,100

-11.1%

Nashville

40

$156,500

$175,000

-10.6%

Milwaukee

50

$100,200

$112,000

-10.6%

San Diego

17

$492,500

$550,000

-10.5%

Los Angeles

18

$537,500

$598,000

-10.1%

Denver

39

$311,000

$346,000

-10.1%

Oakland, Calif.

19

$490,000

$545,000

-10.1%

Sources: HomeUnion Research Services, Maponics

For a list of 2018’s best seasonal investment housing markets on HomeUnion.com, visit http://bit.ly/2BG4cg3.

www.homeunion.com

About HomeUnion
HomeUnion is an online real estate investment management firm. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in single-family rental (SFR) properties. The company uses a combination of research and data-driven proprietary analytics to incorporate over 110 million homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves six locations. HomeUnion’s role spans the lifecycle of the investment transaction: identifying sound investments, handling all aspects of acquisition, maximizing income, protecting asset value, and selling the asset when the time comes.

Cision View original content:http://www.prnewswire.com/news-releases/homeunion-names-the-40-best-places-to-buy-rental-properties-in-winter-2018-300580051.html

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SOURCE: news provided by HomeUnion, distributed on PRNewswire.com, published on STL.NEWS by St. Louis Media, LLC (PS)

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