The real estate site Zillow has released a report that shows two Oklahoma locations are among the best places to turn a home into a rental investment property. Some people looking to move are opting to rent out their homes as opposed to selling. Though doing so could be perilous, renting out a house could be profitable in some markets, and Oklahoma City is one of them.
Thinking of buying an investment home or moving to Oklahoma City? The choice would be wise. In fact, Oklahoma City and Tulsa grabbed the first and third spots on the list. The area that wedged in between these two cities is the Miami-Fort Lauderdale metro area.
Rental property owners in the Oklahoma City metro area can expect to profit $536 per month on the median home when comparing anticipated rental income versus their assumed monthly mortgage payment.
The greatest returns are actually in markets like San Jose and San Francisco where there are significant short-term monthly losses, but the long-term earned equity makes them the best markets to invest in. When looking at rental income, tax benefits and accumulated home equity (thanks to rapid home value appreciation), landlords in San Jose, California, make the most money: $8,927 per month, or $107,122 per year.