If you’re about to get into the real estate game, you need to determine the overall goals of your potential real estate endeavor. Do you plan on buying properties to flip them later? Or do you plan on becoming a landlord and rent luxury apartments to your tenants?
For those planning to rent, certain cities are known for high rental prices. Sure, properties are going to be expensive in these areas, but if you can afford them, you will make a great deal of money as a landlord.
We’ll tell you about the best cities in the US to rent out property right now.
1. San Francisco, California
When most people think about high rental incomes, New York City typically comes to mind and they often forget about San Francisco. As someone looking to buy real estate in the near future, purchasing property in San Francisco will create a major long term profit.
As a matter of fact, your typical single bedroom apartment costs about $3500 a month! We’re talking about an average apartment. Imagine how much you’d get for renting luxury apartments to the six-figure professionals living in this great city?
To get an idea visit Carmelapartments.com and see the best luxury apartments San Francisco has to offer.
2. Mountain View, California
Next on our list is Mountain View, California. This great community in the Silicon Valley area is filled with professionals from the tech industry. As you probably know, people working in the tech industry make healthy six-figure salaries and can afford to live in the lap of luxury. They are willing to pay for top level apartments in their community.
In Mountain View, California, some of the biggest, most prominent companies in the US make their home in this beautiful location. As of this writing, tech savvy employees can easily get jobs in companies like Google, LinkedIn, Microsoft, Mozilla, Symantec, Intuit, Pure Storage, and Coupons.com.
Real estate owners should read through this list of powerful companies in the area and realize the value of buying property in this region. As soon as you pick up rental property in this community, you’ll immediately turn around and have no trouble renting it to one of the many tech savvy professionals living and working here. Plus, you’ll be able to charge higher rents here than in less prominent cities around the US.
3. Boston, Massachusetts
Boston is one of the most prominent cities in the United States of America and you’re going to pay a small fortune for a single bedroom apartment if you want to live in this great city. Real estate owners are reaping great rewards when they own rental property in this awesome town.
On average, a single bedroom apartment goes for $2300 a month in Boston. Luxury apartments cost even more. As someone looking to buy real estate, you can’t go wrong purchasing rental property in this amazing city. You’ll make great money renting your property.
Clearly, those looking to buy real estate and rent it need to consider the location ahead of time. It’s much better to own property and maintain or add value in certain cities as opposed to others as we’ve clearly shown you above.