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.
- 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.