Rent estate has gained a lot of traction over the years because it makes a great investment with high-profit potential. Many consumers are simply more interested in renting than buying these days.
“Even setting aside big upfront expenses like a down payment, rising month-by-month costs are likely keeping many people from purchasing,” says Danielle Hale, an economist for the National Association of Realtors. “Today only 41 percent of people live in a county where the median-income family can afford to buy a home at the median list price, and affordability declined significantly over the past year.”
This has increased the demand for rental properties significantly, but not all markets are designed for rentrepreneurs, or those investing in rental properties. There are many cities better suited for the prospect than others, and one Arizona city made the list.