Central Pa. rental returns 8-11 percent
In Wayne County, Mich., the annual gross return on rental properties is 30 percent.
In New York County, N.Y., it’s 3 percent.
Those are the best and worst markets in the country for investors, according to California-based RealtyTrac Inc.
The yield for each county was calculated by taking the 2014 fair market rent for a three-bedroom home and multiplying it by 12 months and then dividing that total by the median sale price of residential properties in the county.
None of the counties in the Business Journal’s primary coverage area made the top 20 for best or worst.
Baltimore County was the closest. It was No. 5 at 23 percent.
So where does Central Pennsylvania stack up? Near the low end.
Dauphin County was the highest at 11 percent annual gross yield, according to RealtyTrac. The average rental price is $1,090.
York County was No. 2 at 10 percent, followed by Lancaster County at 9 percent. Cumberland and Lebanon counties came in at 8 percent, according to RealtyTrac. Average rental price in those counties is $1,080, $1,157, $1,090 and $916.
Fayette County topped the state list with a 20 percent return.