Single-family rental purchases inched forward in the first quarter of 2019, according to ATTOM Data Solutions‘ latest Single-Family Rental Market report.
The Single-Family Rental Market report analyzes single-family rental returns in 432 U.S. counties each with a population of at least 100,000.
According to the analysis, the average annual gross rental among the 432 counties was 8.8% for 2019, rising from an average of 8.7% in the prior year.
Notably, the report indicates the housing markets that posted the highest rental returns included Baltimore City, Maryland, up 24.5%; Bibb County, Georgia, up 21.9%; Cumberland, New Jersey, up 21.2%; Winnebago, Illinois, up 17.1%; and Wayne County, Michigan, also up 17.1%.
However, the housing markets that posted the lowest rental returns included San Mateo County, California, up 3.4%; San Francisco County, California, up 3.7%; Marin County, California, up 4%; Santa Clara, California, up 4.2%; and Kings County, New York, up 4.3%.
NOTE: ATTOM Data Solutions calculated rental returns by utilizing annual gross rental yields provided by the U.S. Department of Housing and Urban Development