Even if the reason isn't to purchase a home specifically for rental purposes, some homebuyers are interested in the possibility of bringing in some extra cash. Rented.com recently released its Best Places to Buy Rental Property in 2016, finding the best cities, vacation spots and small towns to own a short-term rental property. rented.com screenshot Measuring 120 markets where short-term rental demand is high, the report maps out the best markets for investment purposes. Rented.com pulled data from Everbooked, including insurance, taxes, property prices, average rental income and more. While the larger markets are certainly strong, some of the smaller markets are even more promising for short-term rental incomes, according to the report. Rented.com ranked cities based on their ROI, pinning spring break hub Panama City Beach, Florida, in the top spot with an ROI score of 94.5. The Sunshine State saw seven cities make the top 20, including Palm Coast, Daytona Beach and Fort Me...
- Panama City Beach ranked with the highest ROI for short-term rental properties, and seven total Florida cities ranked within the top 20.
- Some of the nation's most expensive cities, like New York, Palo Alto and Washington D.C., rank low on the list for short-term rental investment opportunities because of high property prices.
- Coastal cities ranked among the best performing for short-term rental investment due in part to their vacation economy.