Rents are on the rise nationwide and investors are looking to cash in. Local Market Monitor recently reviewed 316 housing markets to find which ones offered some of the highest returns on investment potential for single-family rental properties.

The following are the top five markets that emerged from its list as best places to purchase a rental property in the U.S.

1. Las Vegas

Median home price (2012): $122,000

Estimated median home price by 2015: $121,087

Projected annual rent in 2015: $12,829

2. Detroit

Median home price (2012): $78,000

Estimated median home price by 2015: $93,982

Projected annual rent in 2015: $9,016

3. Daytona Beach, Fla.

Median home price (2012): $114,000

Estimated median home price by 2015: $123,282

Projected annual rent in 2015: $11,048

4. Orlando, Fla.

Median home price (2012): $115,000

Estimated median home price by 2015: $150,491

Projected annual rent in 2015: $13,105

5. Warren, Mich.

Median home price (2012): $114,000

Estimated median home price by 2015: $116,706

Projected annual rent in 2015: $9,308

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/28/5-top-hot-spots-for-buying-rental-properties

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