Las Vegas #1 City to Buy Rental Property in the USA

CNN recently named Las Vegas as the best city in the USA to purchase rental property. The combination of low home prices and rising rental rates tipped the scales in favor of Las Vegas. It beat out other increasingly popular rental home locations like Detroit, Orlando and Bakersfield.

The Las Vegas median home price in 2012 was $122,000 while the annual expected rent for a landlord by 2015 is $12,829. Home prices are down 62% from the 2006 peak, and much of these price losses are expected to rebound in the next few years.

Las Vegas earned the top spot for rental property investment, based on the expected return an investor is predicted to see. Investors in Las Vegas are expected to earn 5.6 percentage points more than the annual average return of 5%.

Click here to read the full CNN story