Cook County Not Best Place to Launch Home-Rental Business

TWL_2015_feb_blog2If you’re looking to a launch a rental-home business in Cook County, a new market report may put a damper on your plans. According to RealtyTrac, Cook County yields a 7.92 percent average return on investment for residential rental real estate. That places it behind 300 other counties nationwide. The problem is not demand. Rentals of single-family homes in Cook County are actually up 14 percent from last year. The issue is the high cost of real estate in this county. With a median price of more than $200,000, an investor’s ability to keep rent both affordable and at a level greater than the monthly mortgage payment is greatly diminished. A smart investor has a better chance of starting a home rental business in Atlanta, which showed the highest potential rate of return at 25.8 percent.

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Image Source: David Amsler