Homes.com and ForRent.com are keeping up with the cities that are most looked at by renting individuals. People are going to the internet faster because it’s easy and there is so much information available online. We are keeping a close eye on the real estate market and after spending some time researching; we now have the Top 10 cities being searched. There are over 31 million searched for properties to rent on sites like ours, Homes.com and ForRent.com, and its seems to be clear that renting is still in high demand. An increase of twenty percent has occurred on Homes.com and ForRent.com alone in the months of April, May, and June compared to the first 3 months of 2012.
Landlords are excited about this news and as a real estate professional, maybe it should be considered to market properties as a rental. Investing in properties and renting them out could be an easy way for some with the financial strength to make a profit. Perhaps even have someone else pay the mortgage and sit on this investment for a little while until they earn some equity in the home.
Most of the cities are in the southern areas of the country, so at least if you are marketing to a home buyer for a rental purchase; the pros are in their favor for weather and frequency of rentals. The top 10 cities searched by renters on Homes..com and ForRent.com are listed below, including their growth from first quarter (January, February, March).
- Houston (up 31.44%)
- San Antonio (up 11.26%)
- Atlanta (up 42.78%)
- Orlando (up 33.32%)
- Chicago (up 38.51%)
- Las Vegas (up 18.41%)
- Phoenix (up 55.85%)
- Austin (up 28.16%)
- Charlotte (up 41.96%)
- Miami (up 35.06%)
Homes.com “State of the Rental Market” Q2 Report Reveals Top Ten Cities Searched by Renters
Renters look for cities with improving employment prospects
The top cities in Texas are Houston and San Antonio, this is because of the low cost of living and no state income tax. Houston’s job market is also growing quickly, faster than any other metro area according to US Bureau of Labor Statistics. Not to mention it’s the home of 23 of the Fortune 500 companies. This city is an excellent place for young grads looking to develop as professionals and step into the corporate world.
San Antonio is also one of the top fasting growing cities in the country, holding steady at #3 for growth, San Antonio is considered one of the most affordable areas in the country. Also, known as a safe “walking” city and implemented a bike share program.
The 3 next cities including Atlanta, Orlando, and Chicago seem to be popular because of the high population of young people, recent graduates which is the most common demographic for renting individuals. See where your city stands on the list. We have included the Top 100 here.