U.S. Rental Properties for Sale
More metropolitan areas see a surge in rental market demand. Rents in U.S. increased by 14% in December 2021 – the most considerable jump in more than two years, according to an analysis conducted by Redfin. The highest surge was seen by Austin, Texas, followed by New York City and Florida, all of which exceeded over 30% increase in rental prices. According to Redfin, the East Coast areas, Austin, TX, and Portland, OR, saw the biggest growth in rent prices year-over-year.
What does this mean for U.S. real estate investors?
Earlier this year, we highlighted New York, NY, and Palm Beach, FL, as one of the best cities on the East Coast to buy rental property due to high rental income and great capital appreciation over the years. According to Redfin’s 10 best metro areas with the quickest rising rents, both New York, NY, and Palm Beach, FL made the cut!
If you are looking to purchase properties on the East Coast, here are the best places to invest in with the fastest-growing rent prices:
- Austin, TX (40%)
- Newark, NJ (35%)
- New York, NY (35%)
- Miami, FL (34%)
- Palm Beach FL (34%)
- Fort Lauderdale, FL (34%)
- Jacksonville, FL (31%)
- Portland, OR (29%)
Buying an Investment Property to Rent
To compare, in 2020, the average monthly rental price across the U.S. rose only 3% compared to a year earlier, as reported by Redfin. Homeowners looking to purchase U.S. real estate in these areas as a rental property would not need to worry about renters as the demand is exceptionally high. With rental prices’ biggest increase over the past year, there’s no end in sight. Homebuyers can benefit by using rental income to pay their mortgage and, at the same time, will profit from capital appreciation over the years.
Investors, if you’re on the fence …
America Mortgages has programs for Foreign Nationals and U.S. Expats to purchase U.S. rental properties with up to 75% financing in all 50 states. No U.S. credit is required. No income required loans available.
100% of our clients live outside of the U.S., which means ALL our loan programs are specific for these types of borrowers. Want to learn more? Schedule a call with our U.S. mortgage specialist to find out your mortgage options. [email protected]