Zillow: Where Ohio cities rank among 50 best places to make short-term cash by renting your home
Cincy ranked #4; CLE landlords can get $225/mo avg
Scripps National Desk
4:43 PM, Aug 15, 2014
10:21 AM, Aug 17, 2014
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, according to housing analytics company Zillow.
Zillow released a study Friday showing the 10 best markets to rent out a home for a short-term gain.
“When deciding if they should sell their home or rent it out, most mom-and-pop landlords are primarily concerned with whether or not they can cover their mortgage payment each month – they simply can’t absorb monthly losses like professional investors,” Zillow Chief Economist Dr. Stan Humphries said according to a news release.
“However, 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.”
The data is for the top 50 U.S. metro markets. For the full study, click here. Check out this chart to see the best places to rent out a home for a short-term gain.