Top 10 Rental Markets to Invest in Real Estate in 2023
Real estate investment is an excellent way to generate income and build wealth. Owning rental property allows investors to enjoy passive income, capital appreciation, and tax benefits. However, not all rental markets are created equal, and choosing the right location is crucial for success. As a real estate investor, one of the most important decisions you will make is where to invest your money. One key factor to consider is which rental markets are most likely to provide a high return on investment. In this blog post, we will explore the top ten rental markets for real estate investors in 2023. We will examine the population, occupancy rate, percentage of renters, and average monthly rent for each city. By the end of this read, you’ll have a clear understanding of where to invest your money in the coming year.
Real estate is one of the most lucrative investments anyone can make. However, finding the best rental markets can be challenging, especially when you’re new to the game. Finding the right place to invest in property can be the difference between success or failure as an investor.
What are the top 10 markets for real estate investing in 2023
Population: 980,908
Occupancy Rate: 97.3%
Percentage of Renters: 43.7%
Average Monthly Rent: $1,244
Austin has been one of the fastest-growing cities in the U.S in recent years, thanks to its booming tech industry. With a high percentage of renters, Austin, Texas makes for an excellent rental market for real estate investors in 2023. It has a 97.3% occupancy rate, which is above the national average, and an average monthly rent of $1,244.
Population: 1,733,000
Occupancy Rate: 96.3%
Percentage of Renters: 44.6%
Average Monthly Rent: $1,166
Phoenix is another city with a high percentage of renters and a growing population, making it a perfect place for real estate investment. It has a 96.3% occupancy rate, and the average monthly rent is $1,166.
Population: 498,715
Occupancy Rate: 95.3%
Percentage of Renters: 55.8%
Average Monthly Rent: $1,287
Atlanta is one of the best rental markets for real estate investors in the southeast. The city has a 55.8% percentage of renters and an occupancy rate of 95.3%. With an average monthly rent of $1,287, Atlanta is an attractive place for real estate investors.
Population: 744,955
Occupancy Rate: 96.4%
Percentage of Renters: 51.1%
Average Monthly Rent: $1,431
Seattle, Washington, is a city with a high average monthly rent. However, it has a 96.4% occupancy rate and a percentage of renters at 51.1%. The city is continuing to grow, making it a great rental market for real estate investors in 2023.
Population: 200,591
Occupancy Rate: 96.9%
Percentage of Renters: 53.4%
Average Monthly Rent: $1,237
Salt Lake City, Utah, has a high percentage of renters and a 96.9% occupancy rate. The city is a great rental market for real estate investors in 2023.
Population: 682,545
Occupancy Rate: 95.6%
Percentage of Renters: 45.6%
Average Monthly Rent: $1,477
Denver, Colorado, is a city with an increasing number of renting population. It has a relatively high average monthly rent at $1,477 but makes up for it with a 95.6% occupancy rate.
Population: 280,257
Occupancy Rate: 96*
Percentage of Renters: 54.2%
Average Monthly Rent: $1,406
Orlando, Florida, has a high percentage of renters and a reasonable average monthly rent of $1,406. The city’s tourism industry also plays a significant role in rental demand, making it a great rental market for real estate investors in 2023.
Las Vegas, Nevada
Population: 648,224
Occupancy Rate: 96.9%
Percentage of Renters: 45.6%
Average Monthly Rent: $1,191
Las Vegas, Nevada, is a city that experienced significant population growth over the last few years. It has a 96.9% occupancy rate and a rental percentage of 45.6%. The city’s booming tourist industry also provides excellent opportunities for real estate investors in the rental market.
Population: 2,338,235
Occupancy Rate: 94.8%
Percentage of Renters: 41.2%
Average Monthly Rent: $956
Houston, Texas, has a high population growth rate and a 94.8% occupancy rate. While Houston has a lower average rent rate, the city’s cheaper housing makes it a great rental market for real estate investors in 2023.
Population: 385,430
Occupancy Rate: 96.2%
Percentage of Renters: 47.3%
Average Monthly Rent: $1,353
Tampa, Florida, is another growing city with a high occupancy rate of 96.2%. With a rental percentage of 47.3% and an average monthly rent of $1,353, Tampa is a great rental market for real estate investors in 2023.
Conclusion:
Choosing the right rental market to invest your money is crucial for achieving success as a real estate investor. The top ten rental markets for real estate investors in 2023 are Austin, Nashville, Charlotte, Tampa, Denver, Phoenix, Raleigh, Orlando, Portland, and Seattle. These cities have strong demand for rental housing, high occupancy rates, a significant percentage of renters, and favorable average monthly rent rates. By investing in these markets, you can enjoy passive income, capital appreciation, and long-term growth potential. It’s time to start planning your investment strategy!
Real estate investment can be one of the most profitable investments you can make. Finding the best rental markets for real estate investors can sometimes be challenging. However, we’ve carefully revealed the ten best rental markets in the U.S in 2023, complete with insightful statistics, including the population, occupancy rate, percentage of renters, and monthly average rent. Consider this list as a guide to making the best investment decisions for your real estate investment portfolio.
These 10 cities are the top rental markets for real estate investors in 2023, and they offer excellent potential for investment growth. Each city’s population, occupancy rate, percentage of renters, and average monthly rent were considered to make this list. We hope this list helps narrow down your options and provides ample information to help make a sound investment decision. Remember that each market fluctuates, so keep an eye on the real estate trends to remain ahead of the game. Happy investing!
