HomeUnion Names the 40 Best Places to Buy Rental Properties in Winter 2018
Properties in Omaha, Neb., Chicago and Hartford, Conn., offer investors the best seasonal bargains
IRVINE, Calif., Jan. 9, 2018 /PRNewswire/ -- HomeUnion, a leading online real estate investment and management firm, has released a list of the biggest seasonal bargains for investment housing, and found that the winter off-peak period can be the best time of the year to acquire single-family rentals (SFRs). On average, SFR investors paid 6.6 percent less per square foot for the same property during the winter of 2017/2018 as they did during the spring and summer buying season of 2017.
"For the second year in a row, our study found that the wintertime is the best season to acquire rental properties," explains Steve Hovland, director of research for HomeUnion. "Median home prices drop substantially during the colder months, while rent losses remain marginal for landlords. On average, investors can acquire higher-yielding properties in cold-weather markets like Omaha, Neb.; Chicago and Hartford, Conn., as well as Charlotte and the Dallas/Fort Worth Metroplex. Rental properties in our top 10 metros are discounted between 20 percent and 32 percent in the winter months, representing a significant savings for investors," says Hovland.
"Home prices are seasonal as many buyers and sellers delay an acquisition or disposition to avoid a move during a school year. As a result, smaller homes occupied by empty nesters or childless families are more likely to change hands," notes Hovland.
Here's a list of the 40 best metro areas to buy rental properties in the wintertime of 2018:
| Metro Area |
Temperature Spread (Degrees Fahrenheit) |
Winter SFR Price |
Summer SFR Price |
Price Decline / Savings |
| Omaha, Neb. |
50 |
$78,100 |
$115,000 |
-32.1% |
| Chicago |
48 |
$185,000 |
$250,000 |
-26.0% |
| Hartford, Conn. |
44 |
$153,000 |
$205,500 |
-25.5% |
| Columbus |
43 |
$131,000 |
$175,000 |
-25.1% |
| Seattle |
24 |
$389,500 |
$517,000 |
-24.7% |
| Washington, D.C. |
42 |
$265,000 |
$349,900 |
-24.3% |
| New York, N.Y. |
43 |
$309,000 |
$405,700 |
-23.8% |
| Cincinnati |
44 |
$85,500 |
$110,200 |
-22.4% |
| Grand Rapids |
47 |
$110,000 |
$140,000 |
-21.4% |
| Minneapolis |
56 |
$163,800 |
$205,000 |
-20.1% |
| Buffalo |
45 |
$119,900 |
$150,000 |
-20.1% |
| Detroit |
46 |
$132,000 |
$165,000 |
-20.0% |
| Kansas City |
48 |
$100,000 |
$124,900 |
-19.9% |
| San Francisco |
12 |
$1,037,500 |
$1,285,000 |
-19.3% |
| Sacramento |
29 |
$280,000 |
$345,000 |
-18.8% |
| Charlotte, N.C. |
37 |
$127,000 |
$155,000 |
-18.1% |
| Philadelphia |
42 |
$123,000 |
$150,000 |
-18.0% |
| Dallas |
39 |
$167,000 |
$201,900 |
-17.3% |
| St. Louis |
46 |
$91,100 |
$110,000 |
-17.2% |
| Portland, Me. |
27 |
$286,700 |
$345,000 |
-16.9% |
| Salt Lake City |
46 |
$217,800 |
$261,300 |
-16.6% |
| Louisville |
43 |
$94,000 |
$111,600 |
-15.8% |
| Atlanta |
36 |
$115,000 |
$135,000 |
-14.8% |
| Miami |
16 |
$205,000 |
$240,400 |
-14.7% |
| Houston |
30 |
$145,000 |
$168,500 |
-13.9% |
| Rochester, N.Y. |
45 |
$120,000 |
$138,800 |
-13.5% |
| San Jose |
20 |
$823,500 |
$950,000 |
-13.3% |
| Providence, R.I. |
42 |
$200,300 |
$230,000 |
-12.9% |
| Raleigh, N.C. |
38 |
$169,000 |
$192,500 |
-12.2% |
| Boston |
44 |
$290,000 |
$330,000 |
-12.1% |
| Pittsburgh |
43 |
$75,200 |
$85,000 |
-11.5% |
| Las Vegas |
41 |
$208,500 |
$235,000 |
-11.3% |
| Memphis |
41 |
$81,000 |
$91,200 |
-11.2% |
| Tampa |
23 |
$120,000 |
$135,100 |
-11.1% |
| Nashville |
40 |
$156,500 |
$175,000 |
-10.6% |
| Milwaukee |
50 |
$100,200 |
$112,000 |
-10.6% |
| San Diego |
17 |
$492,500 |
$550,000 |
-10.5% |
| Los Angeles |
18 |
$537,500 |
$598,000 |
-10.1% |
| Denver |
39 |
$311,000 |
$346,000 |
-10.1% |
| Oakland, Calif. |
19 |
$490,000 |
$545,000 |
-10.1% |
| Sources: HomeUnion Research Services, Maponics |
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For a list of 2018's best seasonal investment housing markets on HomeUnion.com, visit http://bit.ly/2BG4cg3.
About HomeUnion
HomeUnion is an online real estate investment management firm. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in single-family rental (SFR) properties. The company uses a combination of research and data-driven proprietary analytics to incorporate over 110 million homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves six locations. HomeUnion's role spans the lifecycle of the investment transaction: identifying sound investments, handling all aspects of acquisition, maximizing income, protecting asset value, and selling the asset when the time comes.
SOURCE HomeUnion
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