📊 For Real Estate Investors
Best Markets for Real Estate Investors
292 U.S. metros ranked under three investor lenses — Appreciation, Cash Flow, and Hybrid — scored from public Census ACS and FRED data. A market that ranks high for appreciation can rank low for cash flow, and vice versa. Pick the lens that matches your strategy.
Census ACS 2023 · FRED · Updated 2026-06-21
· see methodology ↓
A low score on one lens doesn't mean a bad investment. Affordable markets with high rental yields often rank high on Cash Flow and low on Appreciation — and vice versa. Markets like Flint, Syracuse, Toledo, and Detroit rank near the top for Cash Flow because low home prices produce high rent-to-value ratios; the same markets rank lower on Appreciation. Switch lenses to see both sides. Use these rankings to screen markets, not to make the decision.
Est. Return column: A conservative appreciation assumption based on
historical tier characteristics — not a forecast or guarantee.
Tier 1 → 4%/yr, Tier 2 → 3%/yr, Tier 3 → 1.5%/yr, Tier 4 → 0%/yr. These bracket the
owner's own realized long-run results (0.25%–4.8%/yr across four properties) and are
explicitly conservative. Macro and rate factors — which no city-level data can forecast —
are not reflected.
Tier 1 — Strongest appreciation fundamentals (score ≥ 70)
#1 Tier 1
Lake Charles, LA
85.2 / 100
4.0%/yr conservative assumption
3.0× price-to-income
18.8% population growth
#2 Tier 1
Longview, TX
84.4 / 100
4.0%/yr conservative assumption
2.7× price-to-income
32.6% population growth
#3 Tier 1
Cleveland, OH
81.8 / 100
4.0%/yr conservative assumption
2.9× price-to-income
#4 Tier 1
McAllen-Edinburg-Mission, TX
79.1 / 100
4.0%/yr conservative assumption
2.4× price-to-income
3.7% population growth
#5 Tier 1
Jackson, TN
78.9 / 100
4.0%/yr conservative assumption
2.9× price-to-income
39.8% population growth
#6 Tier 1
Atlantic City-Hammonton, NJ
78.7 / 100
4.0%/yr conservative assumption
3.8× price-to-income
37.8% population growth
#7 Tier 1
Dayton-Kettering-Beavercreek, OH
78.3 / 100
4.0%/yr conservative assumption
2.7× price-to-income
#8 Tier 1
Warner Robins, GA
77.6 / 100
4.0%/yr conservative assumption
2.6× price-to-income
2.8% population growth
#9 Tier 1
Fayetteville-Springdale, AR
76.3 / 100
4.0%/yr conservative assumption
3.5× price-to-income
7.0% population growth
#10 Tier 1
Joplin, MO-KS
76.2 / 100
4.0%/yr conservative assumption
2.6× price-to-income
14.0% population growth
#11 Tier 1
Waco, TX
76 / 100
4.0%/yr conservative assumption
3.3× price-to-income
12.6% population growth
#12 Tier 1
Burlington, NC
75.8 / 100
4.0%/yr conservative assumption
3.4× price-to-income
8.5% population growth
#13 Tier 1
Fort Wayne, IN
73 / 100
4.0%/yr conservative assumption
2.8× price-to-income
4.6% population growth
#14 Tier 1
Tyler, TX
72.9 / 100
4.0%/yr conservative assumption
3.1× price-to-income
5.8% population growth
#15 Tier 1
Kenosha, WI
70.8 / 100
4.0%/yr conservative assumption
3.1× price-to-income
#16 Tier 1
Appleton, WI
70.6 / 100
4.0%/yr conservative assumption
2.9× price-to-income
4.1% population growth
#17 Tier 1
Clarksville, TN-KY
70.4 / 100
4.0%/yr conservative assumption
3.5× price-to-income
16.1% population growth
All 292 Markets — Ranked by Appreciation
| # | Market | Score | Tier | Est. Return | P/Income | Pop Growth | 5yr App |
|---|---|---|---|---|---|---|---|
| 1 | Lake Charles, LA | 85.2 | Tier 1 | 4.0%/yr | 3.0 | 18.8% | — |
| 2 | Longview, TX | 84.4 | Tier 1 | 4.0%/yr | 2.7 | 32.6% | — |
| 3 | Cleveland, OH | 81.8 | Tier 1 | 4.0%/yr | 2.9 | — | — |
| 4 | McAllen-Edinburg-Mission, TX | 79.1 | Tier 1 | 4.0%/yr | 2.4 | 3.7% | — |
| 5 | Jackson, TN | 78.9 | Tier 1 | 4.0%/yr | 2.9 | 39.8% | — |
| 6 | Atlantic City-Hammonton, NJ | 78.7 | Tier 1 | 4.0%/yr | 3.8 | 37.8% | 11.9% |
| 7 | Dayton-Kettering-Beavercreek, OH | 78.3 | Tier 1 | 4.0%/yr | 2.7 | — | 9.0% |
| 8 | Warner Robins, GA | 77.6 | Tier 1 | 4.0%/yr | 2.6 | 2.8% | — |
| 9 | Fayetteville-Springdale, AR | 76.3 | Tier 1 | 4.0%/yr | 3.5 | 7.0% | 11.1% |
| 10 | Joplin, MO-KS | 76.2 | Tier 1 | 4.0%/yr | 2.6 | 14.0% | — |
| 11 | Waco, TX | 76 | Tier 1 | 4.0%/yr | 3.3 | 12.6% | — |
| 12 | Burlington, NC | 75.8 | Tier 1 | 4.0%/yr | 3.4 | 8.5% | 10.6% |
| 13 | Fort Wayne, IN | 73 | Tier 1 | 4.0%/yr | 2.8 | 4.6% | 10.3% |
| 14 | Tyler, TX | 72.9 | Tier 1 | 4.0%/yr | 3.1 | 5.8% | — |
| 15 | Kenosha, WI | 70.8 | Tier 1 | 4.0%/yr | 3.1 | — | — |
| 16 | Appleton, WI | 70.6 | Tier 1 | 4.0%/yr | 2.9 | 4.1% | 10.0% |
| 17 | Clarksville, TN-KY | 70.4 | Tier 1 | 4.0%/yr | 3.5 | 16.1% | 10.0% |
| 18 | Grand Rapids-Wyoming, MI | 69.9 | Tier 2 | 3.0%/yr | 3.3 | 9.9% | 9.4% |
| 19 | Greenville-Anderson-Greer, SC | 68.4 | Tier 2 | 3.0%/yr | 3.5 | 7.0% | 10.3% |
| 20 | Charleston-North Charleston, SC | 68 | Tier 2 | 3.0%/yr | 4.2 | 7.7% | 11.1% |
| 21 | Green Bay, WI | 67.9 | Tier 2 | 3.0%/yr | 3.1 | 3.7% | 10.7% |
| 22 | Ocala, FL | 67.5 | Tier 2 | 3.0%/yr | 3.8 | 11.3% | — |
| 23 | Pensacola-Ferry Pass-Brent, FL | 67.3 | Tier 2 | 3.0%/yr | 3.5 | 7.3% | — |
| 24 | Wilmington, NC | 67.3 | Tier 2 | 3.0%/yr | 4.5 | 55.5% | — |
| 25 | Abilene, TX | 67.2 | Tier 2 | 3.0%/yr | 2.6 | 4.8% | 8.0% |
| 26 | Atlanta-Sandy Springs, GA | 67.1 | Tier 2 | 3.0%/yr | 3.9 | 6.9% | 10.7% |
| 27 | Macon-Bibb County, GA | 67 | Tier 2 | 3.0%/yr | 3.0 | 1.9% | — |
| 28 | Brownsville-Harlingen, TX | 66.8 | Tier 2 | 3.0%/yr | 2.3 | 0.3% | 8.8% |
| 29 | Lubbock, TX | 66.6 | Tier 2 | 3.0%/yr | 3.0 | 13.3% | — |
| 30 | Huntsville, AL | 66.3 | Tier 2 | 3.0%/yr | 3.2 | 12.0% | 8.4% |
| 31 | La Crosse-Onalaska, WI-MN | 66.2 | Tier 2 | 3.0%/yr | 3.3 | 24.5% | — |
| 32 | Daphne-Fairhope-Foley, AL | 65.8 | Tier 2 | 3.0%/yr | 3.8 | 15.3% | 9.0% |
| 33 | Pittsburgh, PA | 65.6 | Tier 2 | 3.0%/yr | 2.8 | 4.4% | — |
| 35 | Bangor, ME | 65.2 | Tier 2 | 3.0%/yr | 3.1 | 1.2% | 10.9% |
| 34 | Augusta-Richmond County, GA-SC | 65.2 | Tier 2 | 3.0%/yr | 3.1 | 4.0% | 9.5% |
| 36 | Laredo, TX | 64.5 | Tier 2 | 3.0%/yr | 2.9 | -1.6% | — |
| 37 | Palm Bay-Melbourne, FL | 64.4 | Tier 2 | 3.0%/yr | 4.0 | 7.6% | — |
| 38 | Columbia, MO | 64.3 | Tier 2 | 3.0%/yr | 3.5 | 20.6% | 9.1% |
| 39 | El Paso, TX | 64.1 | Tier 2 | 3.0%/yr | 2.8 | 3.3% | 8.8% |
| 40 | Cincinnati, OH-KY-IN | 64 | Tier 2 | 3.0%/yr | 3.0 | 4.0% | 9.2% |
| 41 | Idaho Falls, ID | 63.9 | Tier 2 | 3.0%/yr | 4.2 | 13.3% | — |
| 43 | Lakeland-Winter Haven, FL | 63.7 | Tier 2 | 3.0%/yr | 3.8 | 13.8% | — |
| 42 | Sioux Falls, SD-MN | 63.7 | Tier 2 | 3.0%/yr | 3.4 | 14.7% | — |
| 44 | York-Hanover, PA | 63.6 | Tier 2 | 3.0%/yr | 2.9 | 3.4% | — |
| 45 | Jacksonville, NC | 63.5 | Tier 2 | 3.0%/yr | 3.4 | 7.5% | — |
| 46 | Indianapolis-Carmel, IN | 63.2 | Tier 2 | 3.0%/yr | 3.2 | 4.9% | — |
| 48 | Spartanburg, SC | 63.1 | Tier 2 | 3.0%/yr | 3.3 | 10.7% | — |
| 49 | Athens-Clarke County, GA | 63.1 | Tier 2 | 3.0%/yr | 4.5 | 6.3% | 10.6% |
| 47 | Omaha, NE-IA | 63.1 | Tier 2 | 3.0%/yr | 3.0 | 5.4% | — |
| 50 | Homosassa Springs, FL | 62.9 | Tier 2 | 3.0%/yr | 4.0 | 10.9% | 9.7% |
| 51 | Duluth, MN-WI | 62.6 | Tier 2 | 3.0%/yr | 2.9 | 0.6% | 9.1% |
| 52 | Janesville-Beloit, WI | 62.5 | Tier 2 | 3.0%/yr | 2.9 | 1.3% | — |
| 53 | Charlotte-Concord-Gastonia, NC-SC | 62.5 | Tier 2 | 3.0%/yr | 4.0 | 9.7% | 9.7% |
| 54 | Muskegon-Norton Shores, MI | 62.2 | Tier 2 | 3.0%/yr | 2.8 | 1.3% | — |
| 55 | Killeen-Temple, TX | 61.9 | Tier 2 | 3.0%/yr | 3.2 | 10.9% | — |
| 56 | Chattanooga, TN-GA | 61.8 | Tier 2 | 3.0%/yr | 3.6 | 3.1% | 10.1% |
| 57 | Raleigh-Cary, NC | 61.6 | Tier 2 | 3.0%/yr | 4.0 | 11.3% | — |
| 59 | Huntington-Ashland, WV-KY-OH | 61.3 | Tier 2 | 3.0%/yr | 2.5 | 4.1% | 7.0% |
| 58 | Orlando-Kissimmee-Sanford, FL | 61.3 | Tier 2 | 3.0%/yr | 4.5 | 11.1% | — |
| 60 | Knoxville, TN | 61.2 | Tier 2 | 3.0%/yr | 3.7 | 5.9% | — |
| 61 | Provo-Orem-Lehi, UT | 60.6 | Tier 2 | 3.0%/yr | 5.0 | 15.7% | — |
| 62 | Mayagüez, PR | 60.3 | Tier 2 | 3.0%/yr | 5.3 | 126.3% | — |
| 63 | Savannah, GA | 60.2 | Tier 2 | 3.0%/yr | 3.6 | 8.0% | — |
| 64 | Gainesville, GA | 60.1 | Tier 2 | 3.0%/yr | 4.0 | 6.3% | 10.5% |
| 65 | Hilton Head Island-Bluffton, SC | 60 | Tier 2 | 3.0%/yr | 4.9 | 5.8% | 11.5% |
| 66 | Port St. Lucie, FL | 59.9 | Tier 2 | 3.0%/yr | 4.5 | 9.4% | — |
| 67 | Durham-Chapel Hill, NC | 59.7 | Tier 2 | 3.0%/yr | 4.4 | 6.4% | 9.7% |
| 68 | Fayetteville, NC | 59.5 | Tier 2 | 3.0%/yr | 3.2 | 1.2% | 10.7% |
| 69 | Dothan, AL | 59.5 | Tier 2 | 3.0%/yr | 2.9 | 2.6% | 8.6% |
| 71 | Lexington Park, MD | 59.5 | Tier 2 | 3.0%/yr | 3.4 | — | — |
| 70 | Reno, NV | 59.5 | Tier 2 | 3.0%/yr | 5.6 | 22.5% | — |
| 72 | Harrisburg-Carlisle, PA | 59.4 | Tier 2 | 3.0%/yr | 3.0 | 5.3% | 8.7% |
| 73 | Sebastian-Vero Beach, FL | 59.4 | Tier 2 | 3.0%/yr | 4.4 | 8.5% | — |
| 75 | Monroe, LA | 59.2 | Tier 2 | 3.0%/yr | 3.3 | 25.9% | — |
| 74 | Eau Claire, WI | 59.2 | Tier 2 | 3.0%/yr | 3.3 | 3.8% | 9.1% |
| 76 | Barnstable Town, MA | 59.1 | Tier 2 | 3.0%/yr | 6.1 | 7.7% | 10.1% |
| 77 | Allentown-Bethlehem-Easton, PA-NJ | 59 | Tier 2 | 3.0%/yr | 3.4 | 3.9% | 9.7% |
| 78 | Punta Gorda, FL | 58.8 | Tier 2 | 3.0%/yr | 4.4 | 10.2% | — |
| 79 | Buffalo-Cheektowaga, NY | 58.6 | Tier 2 | 3.0%/yr | 3.0 | 2.6% | 9.0% |
| 80 | Springfield, MO | 58.6 | Tier 2 | 3.0%/yr | 3.5 | 5.0% | — |
| 84 | San Antonio-New Braunfels, TX | 58.4 | Tier 2 | 3.0%/yr | 3.5 | 7.7% | — |
| 82 | Waterbury-Shelton, CT | 58.4 | Tier 2 | 3.0%/yr | 3.4 | — | — |
| 81 | Jacksonville, FL | 58.4 | Tier 2 | 3.0%/yr | 4.0 | 11.5% | — |
| 83 | Las Cruces, NM | 58.4 | Tier 2 | 3.0%/yr | 3.7 | 2.9% | — |
| 85 | Logan, UT-ID | 58.3 | Tier 2 | 3.0%/yr | 5.0 | 11.9% | — |
| 88 | Binghamton, NY | 58.1 | Tier 2 | 3.0%/yr | 2.3 | 1.0% | 9.0% |
| 87 | Hagerstown-Martinsburg, MD-WV | 58.1 | Tier 2 | 3.0%/yr | 3.4 | 13.4% | 8.6% |
| 86 | North Port-Bradenton, FL | 58.1 | Tier 2 | 3.0%/yr | 4.7 | 10.1% | — |
| 89 | Dallas-Fort Worth-Arlington, TX | 57.9 | Tier 2 | 3.0%/yr | 3.8 | 7.6% | — |
| 91 | Kansas City, MO-KS | 57.8 | Tier 2 | 3.0%/yr | 3.2 | 4.5% | — |
| 90 | Kennewick-Richland, WA | 57.8 | Tier 2 | 3.0%/yr | 4.2 | 8.1% | — |
| 92 | Hickory-Lenoir-Morganton, NC | 57.7 | Tier 2 | 3.0%/yr | 3.2 | 0.4% | 10.1% |
| 94 | Tulsa, OK | 57.5 | Tier 2 | 3.0%/yr | 3.0 | 4.2% | — |
| 95 | Oklahoma City, OK | 57.5 | Tier 2 | 3.0%/yr | 3.0 | 5.5% | — |
| 93 | Louisville/Jefferson County, KY-IN | 57.5 | Tier 2 | 3.0%/yr | 3.3 | 6.0% | — |
| 96 | Utica-Rome, NY | 57.3 | Tier 2 | 3.0%/yr | 2.4 | -1.3% | — |
| 98 | Greensboro-High Point, NC | 57.2 | Tier 2 | 3.0%/yr | 3.3 | 2.9% | 9.7% |
| 99 | Yuma, AZ | 57.2 | Tier 2 | 3.0%/yr | 3.2 | -0.1% | — |
| 97 | Decatur, AL | 57.2 | Tier 2 | 3.0%/yr | 2.9 | 3.0% | 8.1% |
| 101 | Canton-Massillon, OH | 57 | Tier 2 | 3.0%/yr | 2.7 | -0.1% | 9.0% |
| 100 | Tampa-St. Petersburg, FL | 57 | Tier 2 | 3.0%/yr | 4.3 | 6.9% | — |
| 103 | Gulfport-Biloxi, MS | 56.7 | Tier 2 | 3.0%/yr | 3.1 | 6.9% | 8.0% |
| 102 | Winston-Salem, NC | 56.7 | Tier 2 | 3.0%/yr | 3.3 | 3.3% | — |
| 104 | Florence-Muscle Shoals, AL | 56.6 | Tier 2 | 3.0%/yr | 3.0 | 3.8% | 9.2% |
| 105 | Syracuse, NY | 56.5 | Tier 2 | 3.0%/yr | 2.4 | 0.4% | — |
| 106 | Rochester, NY | 56.3 | Tier 2 | 3.0%/yr | 2.6 | -1.5% | — |
| 107 | Rochester, MN | 56.2 | Tier 2 | 3.0%/yr | 3.2 | 5.2% | — |
| 108 | Olympia-Lacey-Tumwater, WA | 55.6 | Tier 2 | 3.0%/yr | 4.8 | 8.0% | — |
| 109 | Lancaster, PA | 55.3 | Tier 2 | 3.0%/yr | 3.3 | 3.1% | — |
| 110 | Stockton-Lodi, CA | 55.2 | Tier 2 | 3.0%/yr | 5.6 | 7.5% | — |
| 113 | Columbia, SC | 55.1 | Tier 2 | 3.0%/yr | 3.2 | 2.8% | 9.8% |
| 111 | South Bend-Mishawaka, IN-MI | 55.1 | Tier 2 | 3.0%/yr | 2.8 | 1.1% | — |
| 112 | Columbus, GA-AL | 55.1 | Tier 2 | 3.0%/yr | 3.2 | 6.0% | 8.4% |
| 114 | Johnson City, TN | 55.1 | Tier 2 | 3.0%/yr | 3.5 | 3.8% | — |
| 115 | Deltona-Daytona Beach, FL | 55 | Tier 2 | 3.0%/yr | 4.2 | 8.7% | 8.2% |
| 116 | Erie, PA | 54.9 | Tier 3 | 2.0%/yr | 2.8 | -2.3% | 9.4% |
| 117 | Slidell-Mandeville-Covington, LA | 54.6 | Tier 3 | 2.0%/yr | 3.4 | — | — |
| 118 | Phoenix-Mesa-Chandler, AZ | 54.6 | Tier 3 | 2.0%/yr | 4.7 | 5.7% | — |
| 119 | Monroe, MI | 54.5 | Tier 3 | 2.0%/yr | 2.9 | 3.5% | — |
| 120 | Burlington-South Burlington, VT | 54.5 | Tier 3 | 2.0%/yr | 4.1 | 3.9% | 9.2% |
| 121 | Oshkosh-Neenah, WI | 54.4 | Tier 3 | 2.0%/yr | 2.9 | 0.8% | — |
| 122 | Des Moines-West Des Moines, IA | 54.1 | Tier 3 | 2.0%/yr | 3.0 | 13.6% | 7.0% |
| 123 | Fresno, CA | 54 | Tier 3 | 2.0%/yr | 5.1 | 19.7% | 7.6% |
| 124 | Akron, OH | 53.9 | Tier 3 | 2.0%/yr | 2.8 | -0.7% | 8.7% |
| 125 | Billings, MT | 53.8 | Tier 3 | 2.0%/yr | 4.3 | 10.8% | 8.7% |
| 127 | Jackson, MI | 53.7 | Tier 3 | 2.0%/yr | 2.8 | 0.8% | — |
| 126 | Columbus, OH | 53.7 | Tier 3 | 2.0%/yr | 3.4 | 4.8% | 8.8% |
| 128 | Traverse City, MI | 53.6 | Tier 3 | 2.0%/yr | 3.7 | 4.2% | — |
| 129 | Odessa, TX | 53.5 | Tier 3 | 2.0%/yr | 2.7 | 3.1% | — |
| 130 | Auburn-Opelika, AL | 53.5 | Tier 3 | 2.0%/yr | 3.8 | 23.4% | 8.7% |
| 132 | Toledo, OH | 53.4 | Tier 3 | 2.0%/yr | 2.6 | -0.3% | — |
| 131 | Jackson, MS | 53.4 | Tier 3 | 2.0%/yr | 3.1 | 6.1% | — |
| 133 | Crestview-Fort Walton Beach, FL | 53.4 | Tier 3 | 2.0%/yr | 4.2 | 10.3% | 7.8% |
| 134 | Reading, PA | 53.3 | Tier 3 | 2.0%/yr | 3.1 | 3.2% | — |
| 135 | Visalia, CA | 53.1 | Tier 3 | 2.0%/yr | 4.4 | 3.3% | — |
| 136 | St. George, UT | 53 | Tier 3 | 2.0%/yr | 6.1 | 18.2% | — |
| 137 | Scranton--Wilkes-Barre, PA | 52.9 | Tier 3 | 2.0%/yr | 2.8 | 2.0% | — |
| 138 | Montgomery, AL | 52.8 | Tier 3 | 2.0%/yr | 2.9 | 3.1% | — |
| 139 | Nashville-Davidson, TN | 52.5 | Tier 3 | 2.0%/yr | 4.6 | 9.6% | — |
| 140 | Kingsport-Bristol, TN-VA | 52.3 | Tier 3 | 2.0%/yr | 3.3 | 1.0% | — |
| 142 | Panama City-Panama City Beach, FL | 51.7 | Tier 3 | 2.0%/yr | 3.9 | 4.1% | — |
| 141 | Tuscaloosa, AL | 51.7 | Tier 3 | 2.0%/yr | 3.6 | 14.0% | — |
| 143 | Jefferson City, MO | 51.6 | Tier 3 | 2.0%/yr | 2.8 | -0.7% | — |
| 144 | Wichita, KS | 51.5 | Tier 3 | 2.0%/yr | 2.7 | 0.8% | — |
| 145 | Elkhart-Goshen, IN | 51.3 | Tier 3 | 2.0%/yr | 3.0 | 1.6% | 8.8% |
| 147 | Bowling Green, KY | 51 | Tier 3 | 2.0%/yr | 3.5 | 6.5% | 8.5% |
| 146 | Spokane-Spokane Valley, WA | 51 | Tier 3 | 2.0%/yr | 5.0 | 6.6% | — |
| 149 | Flint, MI | 50.9 | Tier 3 | 2.0%/yr | 2.9 | -1.3% | 8.1% |
| 148 | Charleston, WV | 50.9 | Tier 3 | 2.0%/yr | 2.2 | -4.5% | 6.8% |
| 150 | Davenport-Moline-Rock Island, IA-IL | 50.8 | Tier 3 | 2.0%/yr | 2.4 | -0.2% | 7.0% |
| 151 | St. Louis, MO-IL | 50.7 | Tier 3 | 2.0%/yr | 3.0 | 0.1% | — |
| 152 | Coeur d'Alene, ID | 50.5 | Tier 3 | 2.0%/yr | 6.1 | 15.7% | 7.8% |
| 153 | Detroit-Warren-Dearborn, MI | 50.3 | Tier 3 | 2.0%/yr | 3.2 | 1.2% | — |
| 154 | Yuba City, CA | 50.1 | Tier 3 | 2.0%/yr | 5.2 | 6.2% | — |
| 155 | Fort Smith, AR-OK | 50 | Tier 3 | 2.0%/yr | 2.8 | -18.6% | 8.6% |
| 157 | Dover, DE | 49.9 | Tier 3 | 2.0%/yr | 4.0 | 5.8% | 8.8% |
| 156 | Midland, TX | 49.9 | Tier 3 | 2.0%/yr | 3.1 | 4.1% | — |
| 158 | Yakima, WA | 49.8 | Tier 3 | 2.0%/yr | 4.1 | 2.9% | — |
| 159 | Topeka, KS | 49.5 | Tier 3 | 2.0%/yr | 2.5 | -0.2% | — |
| 160 | Albany-Schenectady-Troy, NY | 49.2 | Tier 3 | 2.0%/yr | 3.1 | 2.5% | 8.6% |
| 162 | Rockford, IL | 49.1 | Tier 3 | 2.0%/yr | 2.4 | -0.9% | — |
| 161 | Evansville, IN | 49.1 | Tier 3 | 2.0%/yr | 2.8 | -14.4% | 7.9% |
| 163 | Saginaw, MI | 49 | Tier 3 | 2.0%/yr | 2.4 | -1.9% | — |
| 165 | Lynchburg, VA | 48.8 | Tier 3 | 2.0%/yr | 3.3 | 0.8% | — |
| 164 | Salt Lake City-Murray, UT | 48.8 | Tier 3 | 2.0%/yr | 5.0 | 6.4% | — |
| 167 | Springfield, IL | 48.7 | Tier 3 | 2.0%/yr | 2.3 | -1.3% | — |
| 166 | Portland-South Portland, ME | 48.7 | Tier 3 | 2.0%/yr | 4.3 | 5.4% | — |
| 168 | Rapid City, SD | 48.6 | Tier 3 | 2.0%/yr | 3.8 | 4.0% | — |
| 169 | Little Rock-North Little Rock, AR | 48.3 | Tier 3 | 2.0%/yr | 3.1 | 2.6% | — |
| 170 | Waterloo-Cedar Falls, IA | 48.1 | Tier 3 | 2.0%/yr | 2.7 | -1.2% | — |
| 171 | Pueblo, CO | 48.1 | Tier 3 | 2.0%/yr | 4.4 | 2.5% | — |
| 172 | Boise City, ID | 48 | Tier 3 | 2.0%/yr | 5.3 | 13.9% | 6.7% |
| 173 | Minneapolis-St. Paul, MN-WI | 47.8 | Tier 3 | 2.0%/yr | 3.6 | 3.8% | — |
| 174 | Terre Haute, IN | 47.5 | Tier 3 | 2.0%/yr | 2.4 | -0.9% | — |
| 175 | Seattle-Tacoma-Bellevue, WA | 47.3 | Tier 3 | 2.0%/yr | 6.0 | 5.6% | — |
| 176 | Florence, SC | 47 | Tier 3 | 2.0%/yr | 2.9 | -3.0% | 8.5% |
| 177 | Gainesville, FL | 46.8 | Tier 3 | 2.0%/yr | 4.2 | 22.7% | 8.6% |
| 178 | Birmingham, AL | 46.6 | Tier 3 | 2.0%/yr | 3.2 | 3.0% | 7.4% |
| 179 | Lansing-East Lansing, MI | 46.5 | Tier 3 | 2.0%/yr | 2.9 | -1.3% | — |
| 180 | Lincoln, NE | 46.4 | Tier 3 | 2.0%/yr | 3.5 | 4.3% | — |
| 181 | Medford, OR | 46.3 | Tier 3 | 2.0%/yr | 5.6 | 3.9% | — |
| 182 | Sacramento-Roseville-Folsom, CA | 46.3 | Tier 3 | 2.0%/yr | 5.9 | 5.0% | — |
| 184 | Greenville, NC | 46.1 | Tier 3 | 2.0%/yr | 3.3 | -2.9% | 8.7% |
| 183 | Chambersburg, PA | 46.1 | Tier 3 | 2.0%/yr | 3.2 | 1.9% | 7.9% |
| 185 | Hartford-West Hartford, CT | 45.9 | Tier 3 | 2.0%/yr | 3.3 | -5.4% | 10.0% |
| 186 | Peoria, IL | 45.8 | Tier 3 | 2.0%/yr | 2.3 | -2.3% | — |
| 187 | Cape Coral-Fort Myers, FL | 45.8 | Tier 3 | 2.0%/yr | 4.5 | 10.3% | 7.2% |
| 188 | Salem, OR | 45.7 | Tier 3 | 2.0%/yr | 5.1 | 4.3% | — |
| 189 | Champaign-Urbana, IL | 45.3 | Tier 3 | 2.0%/yr | 3.0 | -1.3% | 8.7% |
| 191 | Mobile, AL | 45.1 | Tier 3 | 2.0%/yr | 3.0 | -0.4% | — |
| 190 | Philadelphia-Camden, PA-NJ-DE-MD | 45.1 | Tier 3 | 2.0%/yr | 3.7 | 2.8% | — |
| 192 | St. Cloud, MN | 44.8 | Tier 3 | 2.0%/yr | 3.4 | 2.1% | — |
| 193 | Racine-Mount Pleasant, WI | 44.7 | Tier 3 | 2.0%/yr | 3.2 | 0.8% | — |
| 194 | Tucson, AZ | 44.5 | Tier 3 | 2.0%/yr | 4.2 | 3.0% | — |
| 195 | Kiryas Joel-Poughkeepsie, NY | 44.3 | Tier 3 | 2.0%/yr | 3.8 | — | — |
| 196 | Amarillo, TX | 44.3 | Tier 3 | 2.0%/yr | 3.0 | 2.6% | 7.2% |
| 197 | Las Vegas-Henderson, NV | 44.2 | Tier 3 | 2.0%/yr | 5.4 | 7.1% | — |
| 198 | Cedar Rapids, IA | 44.1 | Tier 3 | 2.0%/yr | 2.6 | 2.8% | 6.3% |
| 199 | Bloomington, IL | 44 | Tier 3 | 2.0%/yr | 2.5 | -9.7% | 8.5% |
| 200 | Providence-Warwick, RI-MA | 44 | Tier 3 | 2.0%/yr | 4.5 | 3.6% | — |
| 201 | Lake Havasu City-Kingman, AZ | 43.8 | Tier 3 | 2.0%/yr | 4.5 | 5.5% | — |
| 202 | Madison, WI | 43.7 | Tier 3 | 2.0%/yr | 4.0 | 5.7% | — |
| 203 | Naples-Marco Island, FL | 43.5 | Tier 3 | 2.0%/yr | 5.6 | 6.5% | — |
| 204 | Hattiesburg, MS | 43.4 | Tier 3 | 2.0%/yr | 3.1 | 3.9% | 7.0% |
| 205 | Redding, CA | 43.4 | Tier 3 | 2.0%/yr | 4.8 | 1.4% | — |
| 206 | Grand Junction, CO | 43.2 | Tier 3 | 2.0%/yr | 4.9 | 4.9% | 8.3% |
| 207 | College Station-Bryan, TX | 43 | Tier 3 | 2.0%/yr | 4.4 | 7.6% | 8.4% |
| 208 | Bend, OR | 42.9 | Tier 3 | 2.0%/yr | 6.4 | 40.4% | 6.9% |
| 209 | Manchester-Nashua, NH | 42.8 | Tier 3 | 2.0%/yr | 3.8 | 3.3% | — |
| 210 | Bremerton-Silverdale, WA | 42.7 | Tier 3 | 2.0%/yr | 5.1 | 5.4% | 6.3% |
| 211 | Austin-Round Rock-San Marcos, TX | 42.6 | Tier 3 | 2.0%/yr | 4.5 | 14.5% | 5.0% |
| 212 | Richmond, VA | 42.2 | Tier 3 | 2.0%/yr | 3.9 | 3.6% | — |
| 213 | Youngstown-Warren, OH | 42.1 | Tier 3 | 2.0%/yr | 2.4 | -21.5% | — |
| 214 | Kalamazoo-Portage, MI | 42 | Tier 3 | 2.0%/yr | 3.2 | -22.4% | — |
| 215 | Niles, MI | 41.8 | Tier 3 | 2.0%/yr | 3.3 | -0.9% | — |
| 216 | Beaumont-Port Arthur, TX | 41.7 | Tier 3 | 2.0%/yr | 2.5 | -3.3% | 6.3% |
| 217 | Modesto, CA | 41.5 | Tier 3 | 2.0%/yr | 5.4 | 2.4% | — |
| 219 | Houston-Pasadena, TX | 41.1 | Tier 3 | 2.0%/yr | 3.4 | 7.3% | 6.6% |
| 220 | Bellingham, WA | 41.1 | Tier 3 | 2.0%/yr | 6.6 | 5.4% | 7.6% |
| 218 | Portland-Vancouver-Hillsboro, OR-WA | 41.1 | Tier 3 | 2.0%/yr | 5.6 | 3.8% | — |
| 221 | Charlottesville, VA | 40.9 | Tier 3 | 2.0%/yr | 4.4 | -3.5% | 8.7% |
| 222 | Greeley, CO | 40.9 | Tier 3 | 2.0%/yr | 4.8 | 15.4% | 5.9% |
| 223 | Merced, CA | 40.8 | Tier 3 | 2.0%/yr | 5.7 | 6.1% | — |
| 224 | Kingston, NY | 40.4 | Tier 3 | 2.0%/yr | 3.9 | 1.6% | — |
| 225 | Iowa City, IA | 40.4 | Tier 3 | 2.0%/yr | 3.8 | 4.9% | — |
| 227 | Trenton-Princeton, NJ | 40.1 | Tier 3 | 2.0%/yr | 3.6 | 3.9% | — |
| 226 | Chicago-Naperville-Elgin, IL-IN | 40.1 | Tier 3 | 2.0%/yr | 3.4 | -1.9% | — |
| 228 | Riverside-San Bernardino, CA | 40 | Tier 3 | 2.0%/yr | 5.7 | 2.6% | — |
| 229 | Norwich-New London, CT | 39.8 | Tier 4 | 1.0%/yr | 3.5 | 3.8% | — |
| 230 | Albuquerque, NM | 39.5 | Tier 4 | 1.0%/yr | 3.9 | 0.9% | 8.3% |
| 231 | Fargo, ND-MN | 39.4 | Tier 4 | 1.0%/yr | 3.7 | 7.6% | 6.4% |
| 232 | Lafayette-West Lafayette, IN | 39.3 | Tier 4 | 1.0%/yr | 3.4 | 3.2% | — |
| 233 | Fort Collins-Loveland, CO | 39.2 | Tier 4 | 1.0%/yr | 5.8 | 7.5% | 6.6% |
| 234 | Baton Rouge, LA | 38.6 | Tier 4 | 1.0%/yr | 3.4 | 5.0% | 4.9% |
| 235 | Vineland, NJ | 38.3 | Tier 4 | 1.0%/yr | 3.2 | -0.3% | — |
| 236 | Ogden, UT | 38.1 | Tier 4 | 1.0%/yr | 4.5 | -1.1% | — |
| 237 | Lexington-Fayette, KY | 37.9 | Tier 4 | 1.0%/yr | 3.7 | 2.1% | — |
| 238 | Virginia Beach-Chesapeake, VA-NC | 37.6 | Tier 4 | 1.0%/yr | 3.9 | 3.5% | — |
| 239 | Bridgeport-Stamford-Danbury, CT | 37.4 | Tier 4 | 1.0%/yr | 4.8 | 0.3% | 9.7% |
| 242 | Arecibo, PR | 37.2 | Tier 4 | 1.0%/yr | 4.6 | -1.4% | — |
| 240 | Blacksburg-Christiansburg, VA | 37.2 | Tier 4 | 1.0%/yr | 3.5 | -0.4% | 8.4% |
| 241 | Colorado Springs, CO | 37.2 | Tier 4 | 1.0%/yr | 5.0 | 6.8% | 5.7% |
| 243 | Asheville, NC | 36.7 | Tier 4 | 1.0%/yr | 4.9 | -8.7% | 8.8% |
| 244 | Miami-Fort Lauderdale, FL | 36.4 | Tier 4 | 1.0%/yr | 5.5 | 1.1% | — |
| 245 | Alexandria, LA | 36 | Tier 4 | 1.0%/yr | 3.1 | -2.1% | 4.6% |
| 246 | Milwaukee-Waukesha, WI | 35.3 | Tier 4 | 1.0%/yr | 3.7 | -0.6% | — |
| 247 | Memphis, TN-MS-AR | 35.1 | Tier 4 | 1.0%/yr | 3.5 | -0.3% | — |
| 248 | Salinas, CA | 34.9 | Tier 4 | 1.0%/yr | 7.7 | 0.6% | — |
| 249 | Eugene-Springfield, OR | 34.7 | Tier 4 | 1.0%/yr | 5.7 | 3.7% | 6.2% |
| 250 | Roanoke, VA | 34.4 | Tier 4 | 1.0%/yr | 3.5 | 0.4% | — |
| 252 | Bloomington, IN | 34 | Tier 4 | 1.0%/yr | 3.9 | -3.0% | 7.5% |
| 251 | Denver-Aurora-Centennial, CO | 34 | Tier 4 | 1.0%/yr | 5.6 | 4.5% | 5.6% |
| 253 | Tallahassee, FL | 33.9 | Tier 4 | 1.0%/yr | 4.0 | 2.2% | — |
| 254 | Boston-Cambridge-Newton, MA-NH | 33.5 | Tier 4 | 1.0%/yr | 5.4 | 2.2% | — |
| 255 | Houma-Bayou Cane-Thibodaux, LA | 33.1 | Tier 4 | 1.0%/yr | 3.0 | -3.2% | 3.8% |
| 256 | Corpus Christi, TX | 32.9 | Tier 4 | 1.0%/yr | 3.0 | -1.2% | 6.8% |
| 257 | Bakersfield-Delano, CA | 32.7 | Tier 4 | 1.0%/yr | 4.6 | 3.1% | 7.5% |
| 258 | Ann Arbor, MI | 31.7 | Tier 4 | 1.0%/yr | 4.0 | 0.7% | 7.7% |
| 260 | Worcester, MA | 31.6 | Tier 4 | 1.0%/yr | 4.2 | -8.2% | — |
| 259 | Amherst Town-Northampton, MA | 31.6 | Tier 4 | 1.0%/yr | 4.2 | — | — |
| 261 | Santa Fe, NM | 31.5 | Tier 4 | 1.0%/yr | 5.6 | 4.2% | — |
| 262 | Hanford-Corcoran, CA | 30.9 | Tier 4 | 1.0%/yr | 4.4 | 1.8% | 7.5% |
| 263 | Anchorage, AK | 30.1 | Tier 4 | 1.0%/yr | 3.7 | 0.0% | 7.2% |
| 264 | Shreveport-Bossier City, LA | 29.6 | Tier 4 | 1.0%/yr | 3.4 | -11.9% | — |
| 265 | San Diego-Chula Vista, CA | 29 | Tier 4 | 1.0%/yr | 7.7 | -0.6% | — |
| 266 | Vallejo, CA | 28.9 | Tier 4 | 1.0%/yr | 5.9 | 2.8% | — |
| 267 | New Haven, CT | 28.8 | Tier 4 | 1.0%/yr | 3.8 | -34.0% | — |
| 268 | San Jose-Sunnyvale, CA | 28.8 | Tier 4 | 1.0%/yr | 8.5 | -0.6% | — |
| 269 | Baltimore-Columbia-Towson, MD | 28.7 | Tier 4 | 1.0%/yr | 3.8 | 1.7% | 6.5% |
| 270 | Myrtle Beach-Conway, SC | 28.5 | Tier 4 | 1.0%/yr | 4.0 | -17.6% | — |
| 271 | Santa Maria-Santa Barbara, CA | 27.8 | Tier 4 | 1.0%/yr | 7.7 | 0.1% | — |
| 272 | El Centro, CA | 27.6 | Tier 4 | 1.0%/yr | 5.0 | -0.5% | 8.7% |
| 273 | Santa Cruz-Watsonville, CA | 26.7 | Tier 4 | 1.0%/yr | 9.3 | -2.8% | — |
| 274 | Lafayette, LA | 26.5 | Tier 4 | 1.0%/yr | 3.4 | -16.0% | — |
| 275 | San Francisco-Oakland, CA | 26.3 | Tier 4 | 1.0%/yr | 8.3 | -0.4% | — |
| 276 | Washington-Arlington, DC-VA-MD-WV | 25.7 | Tier 4 | 1.0%/yr | 4.5 | 2.0% | — |
| 277 | San Luis Obispo-Paso Robles, CA | 24.8 | Tier 4 | 1.0%/yr | 8.3 | 0.0% | — |
| 278 | Los Angeles-Long Beach, CA | 24.5 | Tier 4 | 1.0%/yr | 8.8 | -1.9% | — |
| 279 | Santa Rosa-Petaluma, CA | 22.6 | Tier 4 | 1.0%/yr | 7.6 | -3.1% | — |
| 280 | Boulder, CO | 22.3 | Tier 4 | 1.0%/yr | 6.9 | 2.3% | 6.1% |
| 281 | State College, PA | 22 | Tier 4 | 1.0%/yr | 4.2 | -2.1% | — |
| 282 | Springfield, MA | 21.4 | Tier 4 | 1.0%/yr | 3.9 | -26.6% | — |
| 283 | Chico, CA | 20.7 | Tier 4 | 1.0%/yr | 6.0 | -7.8% | 3.4% |
| 284 | New York-Newark-Jersey City, NY-NJ | 20.5 | Tier 4 | 1.0%/yr | 6.0 | -1.2% | — |
| 285 | Urban Honolulu, HI | 18.6 | Tier 4 | 1.0%/yr | 8.4 | 1.6% | — |
| 286 | New Orleans-Metairie, LA | 17.4 | Tier 4 | 1.0%/yr | 4.0 | -21.8% | — |
| 287 | Oxnard-Thousand Oaks-Ventura, CA | 16.6 | Tier 4 | 1.0%/yr | 7.2 | -1.2% | — |
| 288 | San Juan-Bayamón-Caguas, PR | 12.8 | Tier 4 | 1.0%/yr | 5.0 | -3.7% | — |
| 289 | Aguadilla, PR | 12.6 | Tier 4 | 1.0%/yr | 5.8 | -17.9% | — |
| 290 | Kahului-Wailuku, HI | 10.7 | Tier 4 | 1.0%/yr | 9.0 | -0.4% | — |
| 291 | Ponce, PR | 8.9 | Tier 4 | 1.0%/yr | 5.0 | -10.9% | — |
| 292 | Prescott Valley-Prescott, AZ | 7.6 | Tier 4 | 1.0%/yr | 5.9 | — | — |
Sorted by Appreciation score. Toggle the lens above to re-sort and see the metrics that drive each strategy. All scores use the same 0–100 scale with different weights.
How the ranking works
Every metro is scored on up to 10 economic metrics from free public sources — nothing proprietary, nothing guessed. Each metric gets a 0–100 subscore between a floor (weakest plausible value) and a target (a strong market). Those subscores are combined as a weighted average under each investor profile. If a metric isn't available for a metro, it's excluded and the remaining weights renormalize — the model never fills in a placeholder.
The three investor profiles
📈 Appreciation
Weighted on valuation affordability (25%), population growth (20%), 5yr HPI CAGR (20%), real income growth (15%), and job growth (15%), with 1yr HPI momentum (5%). Past appreciation intentionally down-weighted — a market that already ran up has mean-reversion risk; "cheap relative to incomes" is the better long-hold anchor.
Why valuation is the anchor, not past appreciation: A market that already ran up has a stretched price-to-income ratio and is more likely to mean-revert. For long-hold investors, "cheap relative to incomes" beats "went up recently."
💰 Cash Flow
Led by gross yield / rent-to-value ratio (55%) — the primary cash-flow signal from public data. Then rental vacancy risk (20%), entry-price affordability (15%), and job growth (10%). Unemployment and poverty are shown in the table as risk context but are not scored: high-yield markets structurally carry higher distress indicators, and penalizing them inverts the ranking.
Gross yield note: Annual rent ÷ home value (Census medians) is the closest proxy for cap rate available from public data. It excludes expenses and covers all housing stock — not just investor-owned. A 7% gross yield typically translates to a 4–5% net cap rate after vacancy, taxes, maintenance, and management. Unemployment and poverty are disclosed in the table but not scored — penalizing them would bury exactly the distressed, high-yield markets the lens is designed to surface.
⚖️ Hybrid (Total Return)
Total return model: income yield + appreciation. Gross yield (30%) captures the income component; 5yr HPI CAGR (25%) captures the realized appreciation component. Entry affordability (15%) and population growth (15%) are forward-return multipliers — cheaper entry means higher % return on invested capital, and population growth drives future rent and price gains. Rental vacancy (10%) discounts the income component for occupancy risk. Income growth (5%) adds a forward appreciation signal. Equity build-up (~1.5–2%/yr from loan amortization) is noted in methodology but does not differentiate markets in % terms — it is constant for any standard 30yr fixed loan. Balances both return sources without over-penalizing yield markets.
Equity build-up note: Loan amortization adds ~1.5–2% per year to total return (on top of cash flow and appreciation), but because it is determined by the loan structure — not the market — it is equal across all metros in % terms. It does not move the rankings but is a real part of your total return.
All metrics
| Metric | Better when… | Source & vintage | Scored in |
|---|---|---|---|
| Gross yield (rent ÷ value) | Higher | Census ACS 2023 — B25064×12 ÷ B25077 | Cash Flow (55%), Hybrid (20%) |
| Rental vacancy rate | Lower | Census ACS 2023 — B25004_002E ÷ (B25003_003E + B25004_002E) | Cash Flow (20%), Hybrid (10%) |
| Price-to-income ratio | Lower | Census ACS 2023 — B25077 ÷ B19013 | Appreciation (25%), Hybrid (20%), Cash Flow entry (15%) |
| Population growth (5yr) | Higher | Census ACS 2023 vs 2018 — B01003 | Appreciation (20%), Hybrid (15%) |
| 5yr home price appreciation (CAGR) | Higher | FHFA All-Transactions HPI via FRED — ATNHPIUS{cbsa}Q | Appreciation (20%), Hybrid (10%) |
| Income growth (5yr, nominal) | Higher | Census ACS 2023 vs 2018 — B19013 | Appreciation (15%), Hybrid (10%) |
| Job growth (12 months) | Higher | FHFA/BLS via FRED where available | Appreciation (15%), Cash Flow (10%) |
| 1yr home price appreciation | Higher | FHFA HPI via FRED | Appreciation (5%) |
| Income growth (5yr) Hybrid only | Higher | Census ACS 2023 vs 2018 — B19013 | Hybrid (5%) — forward appreciation signal |
| Equity build-up (loan amortization) | — | Fixed assumption: ~1.5–2%/yr on home value, 30yr fixed 20% down | Noted in Hybrid methodology; constant across markets, does not change rankings |
| Unemployment rate (risk context) | Lower | Census ACS 2023 — B23025 | Disclosed only — not scored in Cash Flow lens |
| Poverty rate (risk context) | Lower | Census ACS 2023 — B17001 | Disclosed only — not scored in Cash Flow lens |
Tier cutoffs (same percentile scale for all lenses): Tier 1 score ≥ 70 ·
Tier 2 55–69 ·
Tier 3 40–54 ·
Tier 4 < 40
What this is not: a price prediction, a rental income estimate, or financial advice. Rankings say which metros outperform peers on these metrics — not the exact future return. Metro averages can mask wide variation: a supply-glutted condo in a booming city can return near zero while detached homes in the same metro double (real example: a DC condo returned ~0.25%/yr while DC detached homes more than doubled over the same period). These rankings screen markets; your deal underwriting screens individual properties.
Ready to run the numbers on a specific deal?
Open Pro Forma → The Pro Forma Calculator estimates NOI, cash-on-cash return, cap rate, and a 10-year wealth projection — with property tax auto-filled from Census data for your county.