50 Best US Cities for First-Time Real Estate Investors

Which cities are the best locations for investing in real estate? A recent analysis conducted by LLC Attorney revealed 50 American cities that are the best for investing your money.

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These 50 cities were determined using the Real Estate Investment Index and factoring in several key considerations, like average monthly rent, the median sale price, market temperature and relevant state-level laws such as rent control. Texas emerged with 12 cities on the list, the most out of any state, while Florida was the runner-up with seven cities.

See which 50 cities are considered the best for first-time real estate investors, as ranked from highest to lowest investment score.

1. Port St. Lucie, Florida

• Average monthly rent: $2,600

• Median sale price: $376,567

• Gross rental yield: 8.3%

• Market temp: Warm

• Investment score: 36.77

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2. Cape Coral, Florida

• Average monthly rent: $2,290

• Median sale price: $322,633

• Gross rental yield: 8.5%

• Market temp: Warm

• Investment score: 36.76

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3. Cleveland

• Average monthly rent: $1,200

• Median sale price: $100,333

• Gross rental yield: 14.4%

• Market temp: Cool

• Investment score: 35.66

4. Garland, Texas

• Average monthly rent: $2,000

• Median sale price: $297,367

• Gross rental yield: 8.1%

• Market temp: Warm

• Investment score: 34.85

5. Miami

• Average monthly rent: $3,000

• Median sale price: $508,167

• Gross rental yield: 6.1%

• Market temp: Warm

• Investment score: 34.79

6. Jacksonville, Florida

• Average monthly rent: $1,600

• Median sale price: $270,167

• Gross rental yield: 7.1%

• Market temp: Warm

• Investment score: 34.76

7. St. Petersburg, Florida

• Average monthly rent: $2,200

• Median sale price: $377,167

• Gross rental yield: 7%

• Market temp: Warm

• Investment score: 34.75

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8. Columbus, Ohio

• Average monthly rent: $1,500

• Median sale price: $238,167

• Gross rental yield: 7.6%

• Market temp: Warm

• Investment score: 34.5

9. Detroit

• Average monthly rent: $1,200

• Median sale price: $83,400

• Gross rental yield: 17.3%

• Market temp: Cool

• Investment score: 34.48

10. Fort Worth, Texas

• Average monthly rent: $2,060

• Median sale price: $317,333

• Gross rental yield: 7.8%

• Market temp: Warm

• Investment score: 34.44

11. Indianapolis

• Average monthly rent: $1,425

• Median sale price: $227,333

• Gross rental yield: 7.5%

• Market temp: Warm

• Investment score: 34.4

12. Memphis, Tennessee

• Average monthly rent: $1,300

• Median sale price: $140,533

• Gross rental yield: 11.1%

• Market temp: Cool

• Investment score: 34.38

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13. Irving, Texas

• Average monthly rent: $2,300

• Median sale price: $366,783

• Gross rental yield: 7.5%

• Market temp: Warm

• Investment score: 34.26

14. Tampa, Florida

• Average monthly rent: $2,075

• Median sale price: $376,483

• Gross rental yield: 6.6%

• Market temp: Warm

• Investment score: 34.14

15. El Paso, Texas

• Average monthly rent: $1,500

• Median sale price: $242,129

• Gross rental yield: 7.4%

• Market temp: Warm

• Investment score: 34.14

16. Corpus Christi, Texas

• Average monthly rent: $1,557

• Median sale price: $254,967

• Gross rental yield: 7.3%

• Market temp: Warm

• Investment score: 33.9

17. Orlando, Florida

• Average monthly rent: $2,000

• Median sale price: $374,267

• Gross rental yield: 6.4%

• Market temp: Warm

• Investment score: 33.82

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18. San Antonio

• Average monthly rent: $1,666

• Median sale price: $279,458

• Gross rental yield: 7.2%

• Market temp: Warm

• Investment score: 33.56

19. Philadelphia

• Average monthly rent: $1,615

• Median sale price: $230,583

• Gross rental yield: 8.4%

• Market temp: Warm

• Investment score: 33.31

20. Frisco, Texas

• Average monthly rent: $2,900

• Median sale price: $613,083

• Gross rental yield: 5.7%

• Market temp: Warm

• Investment score: 32.91

21. Nashville, Tennessee

• Average monthly rent: $2,195

• Median sale price: $421,667

• Gross rental yield: 6.2%

• Market temp: Warm

• Investment score: 32.87

22. Chicago

• Average monthly rent: $1,900

• Median sale price: $337,667

• Gross rental yield: 6.8%

• Market temp: Warm

• Investment score: 32.72

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23. Plano, Texas

• Average monthly rent: $2,600

• Median sale price: $528,500

• Gross rental yield: 5.9%

• Market temp: Warm

• Investment score: 32.66

24. St. Paul, Minnesota

• Average monthly rent: $1,395

• Median sale price: $279,241

• Gross rental yield: 6%

• Market temp: Warm

• Investment score: 32.49

25. North Las Vegas

• Average monthly rent: $2,084

• Median sale price: $404,667

• Gross rental yield: 6.2%

• Market temp: Warm

• Investment score: 32.37

26. Toledo, Ohio

• Average monthly rent: $895

• Median sale price: $115,333

• Gross rental yield: 9.3%

• Market temp: Cool

• Investment score: 32.24

27. Minneapolis

• Average monthly rent: $1,550

• Median sale price: $315,000

• Gross rental yield: 5.9%

• Market temp: Warm

• Investment score: 32.23

28. Henderson, Nevada

• Average monthly rent: $2,231

• Median sale price: $476,650

• Gross rental yield: 5.6%

• Market temp: Warm

• Investment score: 31.81

29. Las Vegas

• Average monthly rent: $2,000

• Median sale price: $414,667

• Gross rental yield: 5.8%

• Market temp: Warm

• Investment score: 31.77

30. Dallas

• Average monthly rent: $2,020

• Median sale price: $424,000

• Gross rental yield: 5.7%

• Market temp: Warm

• Investment score: 31.65

31. Aurora, Colorado

• Average monthly rent: $2,050

• Median sale price: $464,667

• Gross rental yield: 5.3%

• Market temp: Warm

• Investment score: 31.36

32. Oklahoma City

• Average monthly rent: $1,350

• Median sale price: $205,167

• Gross rental yield: 7.9%

• Market temp: Cool

• Investment score: 31.13

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33. Tulsa, Oklahoma

• Average monthly rent: $1,350

• Median sale price: $206,667

• Gross rental yield: 7.8%

• Market temp: Cool

• Investment score: 31.04

34. Colorado Springs, Colorado

• Average monthly rent: $1,850

• Median sale price: $443,500

• Gross rental yield: 5%

• Market temp: Warm

• Investment score: 30.77

35. Boise, Idaho

• Average monthly rent: $1,795

• Median sale price: $489,150

• Gross rental yield: 4.4%

• Market temp: Warm

• Investment score: 30.72

36. Denver

• Average monthly rent: $2,039

• Median sale price: $556,833

• Gross rental yield: 4.4%

• Market temp: Warm

• Investment score: 30.15

37. Lubbock, Texas

• Average monthly rent: $1,399

• Median sale price: $212,083

• Gross rental yield: 7.9%

• Market temp: Cool

• Investment score: 33.09

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38. Portland, Oregon

• Average monthly rent: $1,775

• Median sale price: $526,300

• Gross rental yield: 4%

• Market temp: Warm

• Investment score: 29.94

39. Irvine, California

• Average monthly rent: $4,800

• Median sale price: $1,477,833

• Gross rental yield: 3.9%

• Market temp: Warm

• Investment score: 29.93

40. Gilbert, Arizona

• Average monthly rent: $2,495

• Median sale price: $566,667

• Gross rental yield: 5.3%

• Market temp: Warm

• Investment score: 29.91

41. Tucson, Arizona

• Average monthly rent: $1,600

• Median sale price: $324,811

• Gross rental yield: 5.9%

• Market temp: Warm

• Investment score: 29.91

42. Virginia Beach, Virginia

• Average monthly rent: $2,125

• Median sale price: $366,833

• Gross rental yield: 7%

• Market temp: Warm

• Investment score: 29.87

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43. Chandler, Arizona

• Average monthly rent: $2,299

• Median sale price: $505,000

• Gross rental yield: 5.5%

• Market temp: Warm

• Investment score: 29.83

44. Austin, Texas

• Average monthly rent: $1,995

• Median sale price: $553,333

• Gross rental yield: 4.3%

• Market temp: Warm

• Investment score: 29.75

45. New Orleans

• Average monthly rent: $1,750

• Median sale price: $294,167

• Gross rental yield: 7.1%

• Market temp: Cool

• Investment score: 29.65

46. Madison, Wisconsin

• Average monthly rent: $1,650

• Median sale price: $382,033

• Gross rental yield: 5.2%

• Market temp: Warm

• Investment score: 29.65

47. Arlington, Texas

• Average monthly rent: $2,095

• Median sale price: $317,119

• Gross rental yield: 7.9%

• Market temp: Cool

• Investment score: 26.64

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48. Phoenix

• Average monthly rent: $1,939

• Median sale price: $413,333

• Gross rental yield: 5.1%

• Market temp: Warm

• Investment score: 29.63

49. Chesapeake, Virginia

• Average monthly rent: $2,100

• Median sale price: $372,688

• Gross rental yield: 6.8%

• Market temp: Warm

• Investment score: 29.61

50. Anchorage, Alaska

• Average monthly rent: $1,800

• Median sale price: $370,817

• Gross rental yield: 5.8%

• Market temp: Warm

• Investment score: 29.49

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