ProInvestorHub Data Report · 2024
Best Cash-Flow Markets: where rent goes furthest
Gross rental yield measures how much annual rent a market produces against the price of a home. Using 2024 Census data for every state and major metro, this report ranks where rent goes furthest against home prices — the first screen before you finance a deal.
4.9%
U.S. gross rental yield
2024 national median
$1,487/mo
Median gross rent
incl. utilities (ACS)
$361K
Median home value
owner-occupied (ACS)
Key findings
- Gross rental yield is highest in Mississippi (6.4%), West Virginia (6.2%), and Louisiana (5.7%).
- Lowest yields are in high-cost markets like Hawaii (2.7%), where home prices far outrun rents.
- Among metros, Elmira, NY leads at 8.4% gross yield.
Gross yield by state
All states, ranked by gross rental yield.
| # | State | Gross yield | Median rent | Median value |
|---|---|---|---|---|
| 1 | Mississippi | 6.4% | $990/mo | $187K |
| 2 | West Virginia | 6.2% | $883/mo | $171K |
| 3 | Louisiana | 5.7% | $1,064/mo | $223K |
| 4 | Illinois | 5.7% | $1,322/mo | $281K |
| 5 | Texas | 5.7% | $1,475/mo | $313K |
| 6 | Oklahoma | 5.6% | $1,044/mo | $222K |
| 7 | Alabama | 5.5% | $1,077/mo | $233K |
| 8 | Michigan | 5.5% | $1,168/mo | $254K |
| 9 | Florida | 5.5% | $1,812/mo | $397K |
| 10 | Arkansas | 5.5% | $982/mo | $216K |
| 11 | Ohio | 5.5% | $1,090/mo | $240K |
| 12 | Indiana | 5.4% | $1,104/mo | $244K |
| 13 | Kansas | 5.4% | $1,079/mo | $239K |
| 14 | Pennsylvania | 5.4% | $1,252/mo | $278K |
| 15 | Kentucky | 5.3% | $998/mo | $226K |
| 16 | Georgia | 5.3% | $1,506/mo | $343K |
| 17 | Iowa | 5.2% | $981/mo | $227K |
| 18 | South Carolina | 5.1% | $1,272/mo | $300K |
| 19 | Missouri | 5.0% | $1,067/mo | $254K |
| 20 | Nebraska | 5.0% | $1,102/mo | $263K |
| 21 | Delaware | 4.9% | $1,530/mo | $372K |
| 22 | Virginia | 4.9% | $1,646/mo | $404K |
| 23 | North Carolina | 4.8% | $1,338/mo | $333K |
| 24 | New Mexico | 4.8% | $1,117/mo | $280K |
| 25 | Maryland | 4.7% | $1,721/mo | $436K |
| 26 | Arizona | 4.7% | $1,672/mo | $426K |
| 27 | Connecticut | 4.7% | $1,550/mo | $397K |
| 28 | Wisconsin | 4.7% | $1,142/mo | $295K |
| 29 | Tennessee | 4.6% | $1,284/mo | $333K |
| 30 | Alaska | 4.6% | $1,444/mo | $377K |
| 31 | Nevada | 4.5% | $1,709/mo | $456K |
| 32 | Minnesota | 4.5% | $1,291/mo | $345K |
| 33 | Vermont | 4.5% | $1,319/mo | $353K |
| 34 | North Dakota | 4.4% | $980/mo | $266K |
| 35 | New York | 4.4% | $1,634/mo | $450K |
| 36 | New Jersey | 4.4% | $1,800/mo | $496K |
| 37 | Maine | 4.2% | $1,210/mo | $342K |
| 38 | South Dakota | 4.1% | $999/mo | $290K |
| 39 | New Hampshire | 4.1% | $1,558/mo | $459K |
| 40 | Oregon | 3.9% | $1,597/mo | $498K |
| 41 | Colorado | 3.8% | $1,822/mo | $575K |
| 42 | Rhode Island | 3.7% | $1,418/mo | $456K |
| 43 | Idaho | 3.7% | $1,384/mo | $446K |
| 44 | Massachusetts | 3.7% | $1,848/mo | $607K |
| 45 | Washington | 3.6% | $1,824/mo | $602K |
| 46 | Wyoming | 3.5% | $998/mo | $340K |
| 47 | Utah | 3.5% | $1,593/mo | $545K |
| 48 | California | 3.3% | $2,104/mo | $760K |
| 49 | Montana | 3.3% | $1,177/mo | $425K |
| 50 | District of Columbia | 3.2% | $1,931/mo | $733K |
| 51 | Hawaii | 2.7% | $1,942/mo | $876K |
How we built this
Gross rental yield = (median gross rent x 12) / median home value. Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Rent and value come from the same survey and vintage, so they're directly comparable. Gross yield excludes taxes, insurance, and financing — it's a market screen, not a net return.
Full methodology & sources →Pair it with financing
Yield tells you where the numbers work; our Investor Financing Report shows how investors borrow there — the rate premium, denial rates, and DSCR lending in each state.
Frequently asked questions
What is gross rental yield?
Gross rental yield is annual rent divided by the property's value — here, (median gross rent × 12) ÷ median home value. Nationally it was 4.9% in 2024 ($1,487/mo rent against a $361K median home value). It's a quick screen for where rent goes furthest against price, before financing and expenses.
Which states have the best rental yield?
In 2024, gross rental yield was highest in Mississippi (6.4%), West Virginia (6.2%), and Louisiana (5.7%). High-cost coastal states sit at the bottom.
Does gross yield account for expenses or financing?
No. Gross yield is a top-line screen — it excludes taxes, insurance, vacancy, management, and financing costs. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator for a net picture.
What data is this based on?
U.S. Census Bureau, American Community Survey 2024 1-year estimates. Rent is median gross rent (B25064) and value is median owner-occupied home value (B25077), from the same survey and vintage so they're directly comparable. Coverage is geographies with population of at least 65,000.