Purchasers of real estate usually rely on market data in order to determine where to invest their money. There are good guides and ones that are not so good to help people find top investment cities across the country. A person considering buying real estate needs all the help he or she can get. This independently compiled list of the best places to buy investment property in 2015 should help the average investor make better decisions on where to buy.

Best Cities to Buy Investment Property in 2015

1. Jacksonville, Florida

What a person can expect to pay on average in Jacksonville for a medium sized home is about $90,000. These types of houses often rent for $800 to $1,200 a month. WIth a high cap rate and annual appreciation, the Jax market has grown since 2008.

2. Ocala, Florida

Investors will usually pay $75,000 for a single family home in Ocala, FL. Rent is slightly less expensive in this area than larger cities like Jacksonville, Miami or Tampa. Investors often find cap rates at 10% and above in the Ocala area.

3. Palm Bay, Florida

$91,000 is what the average person pays for a house in Palm Bay, FL. Investors often cash in on the $1,200 monthly rent and higher dollar amounts for this city in Florida.

4. Memphis, Tennessee

Tennessee is still experiencing high foreclosure rates. Homes are still cheap in Memphis and average about $75,000 in ARV. Most people pay about $1,000 a month for rent and this helps investors to profit.

5. Las Vegas, Nevada

While homes are more expensive in Las Vegas, investors still prefer to buy houses in this city. With the average rent collected about $1,500 a month, buying the right home in the right neighborhood could be a profitable venture for an investor.

6. Toledo, Ohio

Buying a house in the city of Toledo will cost the average person about $67,000. This part of the state of Ohio still has a foreclosure problem. Most renters pay about $960 a month on average making cap rates about 10% or more for real estate investors.

7. Detroit, Michigan

Buying and holding real estate in the city of Detroit can be a good decision. While there are homes sold for $3000 or less, the average home in a good neighborhood is about $95,000. With people paying upwards of $1,200 a month for rent in Detroit, investors are now cashing in on this profitable city.

8. Orlando, Florida

Florida still has a higher than normal unemployment rate compared to other states in the U.S. A typical investor will find a good house for about $108,000 on average. With rent prices creeping up to $1,300 a month, it is not hard to profit buying homes in Orlando.

9. Syracuse, New York

It will cost a person about $88,000 to buy a home that needs no repairs on average in the city of Syracuse, NY. The going rent price for a two or three bedroom home is now $1,050 a month. Investors can capitalize on the higher than average cap rates here.

10. Atlanta, Georgia

Investors collect about $1,150 a month for a typical Atlanta area house. While market listings have homes the average around $84,000, someone could pay less to own homes near Atlanta. The average cap rate is now around 9.7 percent for investors.

11. Richmond, Virginia

The state of Virginia has numerous cities with homes that exceed $300,000 in value. What this means for the rental market is much higher rent prices. On average, a person renting a house will pay $1,306 monthly in most Richmond neighborhoods.

12. Kissimmee, Florida

With a stabilized unemployment rate near 5%, central Florida has improved in its rental communities. The average rent now paid for a single family home is now $1,330. Investing in one or more Florida cities could pay off for a savvy person.

13. Homosassa Springs, Florida

Rent prices have increased by 3% on average in this city. The typical person now rents a home for $1,020. The low home values and location outside of a metro city has contributed to the growth rate experienced in the housing sector in Citrus County.

14. Muskegon, Michigan

Rent prices are now $961 monthly on average for a person renting a Muskegon home. For an investor, this means a growth rate of 10% from 2013 data according to housing industry reports. Numerous Michigan cities have performed well in the rental market.

15. Tampa, Florida

While the metro unemployment rate has not changed from 7.5%, the Tampa area still has high enough rent pricing to help investors profit. The $1,280 monthly average is higher than many other Florida cities except Northern cities like Jacksonville.

16. Mobile, Alabama

A renter usually pays $1,036 to rent a one to three-bedroom home in the city of Mobile. This rate has not changed in the past few years due to a fixed unemployed rate at 6.4%. The gross yield for investors has peaked at 15.83% for the year.

17. East Stroudsburg, Pennsylvania

An increase of 9% from data supplied last year has increased the rent price on average to $1,332. The annual gross yield is holds at 15.86% although the unemployment rate is 5.8%. This is lower than the national average in most U.S. cities.

18. Marietta, Georgia

$1,213 is what the typical rental tenant pays when renting homes near Atlanta in Marietta, Georgia. The city unemployment rate is still 8.1% although the rent index has increased by 2%. The Atlanta metro area has always been a growing market for investors to explore.

19. Baltimore, Maryland

With 8.2% unemployment, Baltimore rent rates have decreased by 2% since 2014. With the average home renting for $1,574, an investor could seek opportunities in this city. One issue for beginners is the higher cost for Maryland real estate compared to other states.

20. Clarksville, Tennessee

With a 29% millennial population, Clarksville is now attractive to more younger adults. The typical person rents a home for $1,035 and the local unemployment rate is currently 6.9%. Millennial residents have increased by 46% since 2007 here.

21. New Orleans, Louisiana

With a gross yield of 11% annually, New Orleans remains a hot spot for buyers of real estate. With a huge increase of 71% in millennial population since 2007, people now rent homes on average for $1,192 in New Orleans, Metairie and Kenner.

22. Cincinnati, Ohio

$1,065 is the average rent paid by renters in Hamilton County, Ohio and nearby Kenton County, KY. With a 5% unemployment rate according to 2014 data, the metro Cincinnati area has improved in recent years. Millennials now make up 22.49% of the population.

23. Indianapolis, Indiana

Marion County, IN residents rent single family homes for $1,056 on the average. Millenials have increased in population to 25.03% over the past several years. Indianapolis remains a growing city in the Midwest.

24. Tacoma, Washington

Throughout Pierce County, WA, renters typically pay $1,611 for monthly rent. Investors hoping to tap into a large population of millennial renters will find the Tacoma population has increased by 23.29% for millennials. The Seattle, Tacoma and Bellevue areas have an average of 7.3% unemployment.

25. Milwaukee, Wisconsin

People living in the Milwaukee and Waukesha areas pay on average $1,143 monthly rent. These rents are still collected even with a 6% unemployment rate. The 11.43% gross yield based on surveyed data from 2014 shows that this part of the country is performing well for rental property owners.

Outlook for Buying Rental Homes in 2015

Someone who studies data to find the best parts of the U.S. to invest is a motivated person. Good data is only half of the motivation to invest. Putting your feet forward and making a decision is the next step. Getting started with turnkey properties is excellent for a beginner in real estate. With cap rates and rent indexes rising in cities like Jacksonville, FL, now is the time to invest to capitalize on monthly profits.

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