According to a new report from RealtyTrac, Pasco County has the fourth highest yield from rental property in the country. The annual gross rent yield for cash buyers in Pasco was 19.2 percent according to the report, behind only Baltimore (24.8 percent); Clayton, Ga. (24.3 percent); and Wayne, Mich (21.1 percent). The yield is well ahead of the national average RealtyTrac calculated from 461 counties nationwide which produced a gross rental yield of 9.3 percent. RealtyTrac looked at counties with a population of 100,000 or more and retail returns were calculated using annual gross rental yields.
“From a purely affordability standpoint, renters who have saved enough to make a 10 percent down payment are better off buying in the majority of markets across the country,” says Daren Blomquist, a RealtyTrac vice president, in a release. “But factors other than affordability are keeping many renters from becoming buyers, a reality that means real estate investors buying residential properties as rentals still have the opportunity to make strong returns in many markets across the country.”
