real estate

Promising places to buy rental properties

Should you buy a rental home in Chicagoland? In a survey of online real estate listings in the fourth quarter of 2013, Bankrate found that the median asking price for a three-bedroom house in metro Chicago was $134,900, with a median rent of $1,700. Based on those numbers, an investor could recoup 15.1 percent of the investment in the first year, excluding taxes, insurance, renovations and other costs. See a map of potential investment profitability in 15 metro areas.

Chicago:

Median asking price for 3-bedroom house: $134,900
Median rent for 3-bedroom house: $1,700
Gross yield: 15.1 percent

advertisement

Mortgage trends this fall From mortgage rates to a list of must-do's for first-time homebuyers, here are the trends to watch for this season.
Show Bankrate's community sharing policy
          Connect with us
advertisement
Rising rates and more: 5 housing trends for fall
advertisement

Connect with us