Landlord Friendly States: Invest in the Most Profitable Markets

One of the most important things for landlords to consider when investing in property is where they can expect to get the best return on their investment. If you are looking for a profitable market, check out this list of the most landlord-friendly states!

The most landlord-friendly states to invest in are:

Alabama
Tennessee
South Carolina
Kentucky
Florida
Missouri
Ohio

The median sales prices may look high but deals can be found with a little searching. The most important consideration is that rentals in these areas will likely turn out to be profitable if bought at just the right time and price point!

Ohio

Unemployment Rate: 5.4%

Job Growth: 12-Month Growth +2%

Rental Vacancy Rates: 6.1% (2020)

Median Home Values: $205,000

Zillow Home Value Forecast: +2.4%

Median Listing Rent Price: $1308

Median Listing Price Change YoY: -4%

New Listings Count Change YoY: +3%

Median Days on Market Change YoY: -16%

Rental Laws: Landlord-friendly, Eviction normally take five weeks

Areas with a good price to rent ratio:

Akron $119,900; Median Rent $1047
Cleveland: $110,000; Median Rent $1267
Dayton $100,000; Median Rent $1095

Tennessee

Unemployment Rate: 4.6%

Job Growth: 12-Month Growth +4.1%

Rental Vacancy Rates: 8% (2020)

Median Home Values: $340,000

Zillow Home Value Forecast: +4%

Median Listing Rent Price: $1,481

Median Listing Price Change YoY: +7%

New Listings Count Change YoY: -21%

Median Days on Market Change YoY: -21%

Rental Laws: Eviction normally take five to eight weeks

Areas with a good price to rent ratio:

Memphis Median Prices: $188, 000, Median Rent $1481

Missouri

Unemployment Rate: 5.2%

Job Growth: 12-Month Growth +2.7%

Rental Vacancy Rates: 6.7% (2020)

Median Home Values: $239,900

Zillow Home Value Forecast: +2.6%

Median Listing Rent Price: $990

Median Listing Price Change YoY: +6%

New Listings Count Change YoY: -13%

Median Days on Market Change YoY: -22%

Rental Laws: Eviction can take up to 90 Days.

Best Prices:

St. Louis $195,000, Median Rent $ 1,203

Kentucky

Unemployment Rate: 4.3%

Job Growth: 12-Month Growth +2.6%

Rental Vacancy Rates: 6.1% (2020)

Median Home Values: $134,400

Zillow Home Value Forecast: +3.1%

Median Listing Rent Price: $985

Median Listing Price Change YoY: +4%

New Listings Count Change YoY: -7%

Median Days on Market Change YoY: -24%

Rental Laws: Eviction can take from 30 to 90 Days.

Best Prices:

Louisville Median Price $244,300; Rent $1,151

Alabama

Unemployment Rate: 3.1%

Job Growth: 12-Month Growth +3.1%

Rental Vacancy Rates: 13.6% (2020)

Median Home Values: $279,900

Zillow Home Value Forecast: +3.2%

Median Listing Rent Price: $1,236

Median Listing Price Change YoY: +7%

New Listings Count Change YoY: -25%

Median Days on Market Change YoY: -27%

Rental Laws: Eviction can take from 30 to 90 Days.

Best Prices:

Birmingham Median Price $$225,000; Rent $1,236
Mobile Medium Prices $112,100; Rent $1,200

South Carolina

Unemployment Rate: 4.2%

Job Growth: 12-Month Growth +3.3%

Rental Vacancy Rates: 9.7% (2020)

Median Home Values: $325,000

Zillow Home Value Forecast: +4.2%

Median Listing Rent Price: $1,130

Median Listing Price Change YoY: +13%

New Listings Count Change YoY: -40%

Median Days on Market Change YoY: -38%

Rental Laws: Eviction can take from 30 to 45 Days.

Best Prices:

Sumter Medium Home Prices $222,000; Rent $1,292
Spartanburg Medium Prices $209, 050; Rent $1300
Columbia Medium Prices $205,000; Rent $1,292

Florida

Unemployment Rate: 5%

Job Growth: 12-Month Growth +4.5%

Rental Vacancy Rates: 7.3% (2020)

Median Home Values: $207,500

Zillow Home Value Forecast: +2.8%

Median Listing Rent Price: $1,620

Median Listing Price Change YoY: +14%

New Listings Count Change YoY: -44%

Median Days on Market Change YoY: -36%

Rental Laws: Eviction can take from 30 to 45 Days.

Best Prices:

Ocala Medium Price $ 235,000 Rent $1450
Jacksonville Medium Price $271,000 Rent $1,536
Pensacola Medium Price $247,000; $132,100

There are many other factors to consider, such as local tax laws and legal climates. This list of the most landlord-friendly states is a great place to start!