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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This article originally appeared on GOBankingRates.com: 50 Best US Cities for First-Time Real Estate Investors
