Kansas City ranks sixth in a new list of the best U.S. cities for investment in residential rental properties.
The top 25 ranking was released Wednesday by All Property Management, a Seattle-based online network of property management services. The ranking was based on rental property investment, or RPI, scores derived from government housing and jobs data and housing-appreciation forecasts.
“The 28 million owners of rental real estate in the United States are in need of a sound way to assess the markets that are best for real estate investment,” Jacob Colker, a vice president with All Property Management, said in a release.
According to the release, rising RPI scores last quarter boosted 12 new cities into the top 25. Of those cities, Kansas City had the greatest gain, followed by Poughkeepsie, N.Y., and San Francisco.
Grand Rapids, Mich.’s RPI score remained the highest in the country due to its job growth, rental rate increases and escalation in home prices.
Following are the 10 highest ranked cities and their RPI scores:
• Grand Rapids, Mich., 96
• Tampa, Fla., 94
• Nashville, 83
• Poughkeepsie, N.Y., 81
• San Jose, Calif., 80
• Kansas City, 79
• Seattle, 78
• Jacksonville, Fla., 77
• San Francisco, 77
• Miami and Atlanta (tie), 76
MORE INFORMATION: View the complete ranking on All Property Management’s website