Have you been considering purchasing a vacation home or condominium? Rented.com recently released its report of the most profitable cities for rental property investments. The third annual report on the 150 Best Places to Buy a Vacation Rental Property in 2018, provides insights into the most profitable cities for rental property investment and how this profitability varies each year. Among the top 25 cities, eight were listed on both the 2017 and 2018 lists.
The top five real estate markets with the highest return on investment (ROI) for rental properties in 2018 include: Panama City Beach, Florida Chicago, Illinois Napa, California Tulsa, Oklahoma Memphis, Tennessee
Panama City Beach along with the beaches of South Walton and Destin, Florida are proving that owning a vacation rental home or condominium can be personally and financially rewarding. The ROI of owning a rental property is determined by comparing costs of home ownership to short-term rental potential in the market. Factors influencing these figures include but are not limited to the purchase price, insurance, taxes, maintenance, the popularity of the destination, and local rental rates.
Our team of real estate experts along with our property management division can provide valuable insights on investing in Panama City Beach and the Emerald Coast region, including South Walton and Destin, Florida. Learn more by visiting NewmanDailey.com or call us at 1-800-225-7652.
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