Cities with the Highest & Lowest Rents [FULL LIST]

A recent report from Abodo showed U.S. renters paid a record $504.4 billion in rent in 2018, topping 2017’s total by $12.6 billion.

On a state-by-state basis, Abodo’s report shows that rents rose in 29 states (including the District of Columbia) in 2018, while rents fell in 22 states. Rents remained the same in just one state: South Dakota.

Check out the graphic below to see where rents rose and fell last year. Green-shaded states are those were rents fell, while those in red are states where rents rose.

2018-Rent-Trends-by-State

On an overall price basis, Washington, D.C., tops the nation in rent, with an average rent of $2,358, followed by Massachusetts at $2,139, Rhode Island at $1,732, Hawaii at $1,676, and New York at $1,633.

On the other end of the spectrum, South Dakota has the lowest median rent at $525 per month, followed by New Mexico at $576, Arkansas at $582, and Oklahoma at $613.

Drilling down a little more, the seven cities with the highest rents all saw their rents increase in 2018. San Francisco is the most expensive rental market in the nation, with its median rent checking in at more than $3,500 per month.

The least expensive rental market is Springfield, Missouri, where the median rent is just $503 per month.

For a full look at the top 10 and bottom 10 cities, see the image below…

2018-Cities-Rents

Originally published HERE.

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How To Increase Your Profit Per Deal {Free Rehab Checklist}

Below is the standard checklist that we use to make sure we have properly evaluated scope of work in a new renovation project. A quick walkthrough with this list in hand can save you a lot of time and headaches! 

 

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Here’s the Checklist:

  • All properties need to have curb appeal
  • Yards clean and any fences kept, fixed, and painted as needed
  • Two tone paint scheme on exterior usually an earth tone base color with white trim
  • All houses must have mailboxes
  • All houses must have visible address numbers
  • Roof must have life left or replaced, we do not put another layer of shingles on, always tear off
  • All roof underlay must be solid
  • Window must be functional and in good shape or replaced and MUST HAVE SCREENS
  • If we are pulling a general building permit and changing out windows, make sure all bedroom windows are changed to meet egress standards
  • Flooring all wet areas such as kitchens, laundry, mud room, bathroom and in many cases dinette should be ceramic tile
  • Carpeting must be FHA quality minimum
  • Electrical – All houses must be wired to code and upgraded to handle the loads including: Meter box, hardwired smoke detectors and in most cases eliminate gas and make house 100% electric, especially the hot water heater
  • Where at all possible, find an area to have laundry facility in house
  • As a rule, ceiling fans in all bedrooms and living areas
  • Interior paint, as a rule, should have walls painted in sand 3 (or equivalent). All trim, kitchens, and baths should be painted in semi or high gloss while and ceiling in a flat white.
  • All homes must have good functioning central HVAC system (Condensers caged) and where possible, air handlers placed in attics
  • All houses need to maximize space to provide for as many bedrooms and bathrooms as is prudent
  • All plumbing needs to be in good working order
  • Bathrooms need to be NICE. We would much rather have tile around the tub than a surround. If the bathroom has only a small window, or no window, the HVAC Company will need to install a Johnny Fan. Baths need to have towel bars, soap dish, and toilet paper dispenser
  • Kitchens need to be NICE, cupboards need to be in good shape or replaced and do not skimp on number of cabinets. Please install a self venting hood fan above stove, if possible, and install a two compartment sink.
  • Make sure that the realtor gets a pest inspection on the property and is treated if needed
  • Make sure when we close on properties they are secured as quickly as possible and stay secured during the rehab process
  • Where it is possible, all egress doors should be made to swing outward and all exterior doors need to be keyed alike and have deadbolts
  • Interior doors must have functioning hardware

 

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Real Estate Investor, and friend to the Real Estate Freedom community, Rob Swanson just released a training video that goes through a probate investing scenario, step-by-step.

In this video you’ll learn:

Learn how to get probate leads that no one knows about by getting the houses released from the probate early — the families will love you. SEE THE FULL TRAINING VIDEO HERE!

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Why do 97.4% of Real Estate Investors FAIL?

This new video by Matt Andrews reveals why most Investors are dead before they complete their first flip and how you can insure that you are one of the 2.6% who profit on EVERY DEAL. The Secret is… SEE THE VIDEO HERE

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