ProInvestorHub Market Research
50-City Cap Rate Report — 2026
Cap rates, median prices, rents, and investment strategy scores for the top 50 US real estate markets.
Data: Census ACS, Zillow, Redfin, county assessors • Updated March 2026 • proinvestorhub.com
National Averages (50 Markets)
Avg Cap Rate
6.3%
Avg Median Price
$316,460
Avg Median Rent
$1,537/mo
All 50 Markets — Ranked by Cap Rate
| # | City | Cap Rate | Median Price | Median Rent | R/P Ratio | Vacancy | Pop Growth | Tax Rate |
|---|---|---|---|---|---|---|---|---|
| 1 | Detroit, MI | 11.2% | $85,000 | $1,050 | 1.24% | 12.5% | -2.8% | 2.76% |
| 2 | Cleveland, OH | 9.8% | $105,000 | $1,100 | 1.05% | 9.8% | -2.1% | 2.19% |
| 3 | Memphis, TN | 9.2% | $130,000 | $1,200 | 0.92% | 10.2% | -1.5% | 1.45% |
| 4 | Toledo, OH | 9.0% | $88,000 | $850 | 0.97% | 10.8% | -3.2% | 2.05% |
| 5 | Dayton, OH | 8.8% | $95,000 | $900 | 0.95% | 9.5% | -1.8% | 2.10% |
| 6 | Akron, OH | 8.6% | $100,000 | $950 | 0.95% | 8.9% | -2.0% | 2.12% |
| 7 | Birmingham, AL | 8.5% | $125,000 | $1,100 | 0.88% | 9.0% | -1.0% | 0.43% |
| 8 | Little Rock, AR | 8.3% | $150,000 | $1,150 | 0.77% | 8.5% | +0.5% | 0.63% |
| 9 | Indianapolis, IN | 8.1% | $175,000 | $1,350 | 0.77% | 7.5% | +3.2% | 0.84% |
| 10 | Tulsa, OK | 7.9% | $155,000 | $1,150 | 0.74% | 8.0% | +1.0% | 0.99% |
| 11 | Oklahoma City, OK | 7.7% | $175,000 | $1,250 | 0.71% | 7.2% | +4.5% | 0.90% |
| 12 | Kansas City, MO | 7.5% | $195,000 | $1,350 | 0.69% | 7.0% | +2.0% | 1.36% |
| 13 | St. Louis, MO | 7.4% | $165,000 | $1,200 | 0.73% | 8.5% | -1.5% | 1.38% |
| 14 | Louisville, KY | 7.3% | $195,000 | $1,300 | 0.67% | 6.8% | +1.5% | 0.83% |
| 15 | Pittsburgh, PA | 7.2% | $180,000 | $1,250 | 0.69% | 7.5% | -0.5% | 2.15% |
| 16 | Huntsville, AL | 7.1% | $260,000 | $1,500 | 0.58% | 5.5% | +14.2% | 0.42% |
| 17 | Cincinnati, OH | 7.0% | $195,000 | $1,300 | 0.67% | 7.8% | +0.8% | 1.92% |
| 18 | Columbus, OH | 6.8% | $240,000 | $1,450 | 0.60% | 6.2% | +7.5% | 1.78% |
| 19 | Milwaukee, WI | 6.7% | $175,000 | $1,150 | 0.66% | 7.5% | -0.5% | 2.53% |
| 20 | Des Moines, IA | 6.6% | $200,000 | $1,250 | 0.63% | 5.8% | +3.5% | 1.57% |
| 21 | San Antonio, TX | 6.5% | $250,000 | $1,450 | 0.58% | 7.0% | +6.8% | 1.90% |
| 22 | Baltimore, MD | 6.5% | $180,000 | $1,350 | 0.75% | 9.5% | -3.0% | 2.25% |
| 23 | Jacksonville, FL | 6.4% | $285,000 | $1,550 | 0.54% | 6.5% | +9.5% | 0.89% |
| 24 | Houston, TX | 6.3% | $265,000 | $1,500 | 0.57% | 8.0% | +5.2% | 2.03% |
| 25 | Richmond, VA | 6.2% | $280,000 | $1,500 | 0.54% | 6.0% | +4.0% | 1.20% |
| 26 | Minneapolis, MN | 6.1% | $295,000 | $1,550 | 0.53% | 5.5% | +2.5% | 1.28% |
| 27 | Chicago, IL | 6.0% | $275,000 | $1,600 | 0.58% | 7.5% | -1.2% | 2.23% |
| 28 | Atlanta, GA | 5.9% | $320,000 | $1,700 | 0.53% | 6.5% | +8.5% | 1.08% |
| 29 | Savannah, GA | 5.9% | $275,000 | $1,450 | 0.53% | 6.8% | +6.5% | 1.05% |
| 30 | Knoxville, TN | 5.8% | $270,000 | $1,400 | 0.52% | 5.8% | +5.5% | 0.68% |
| 31 | Dallas, TX | 5.7% | $340,000 | $1,700 | 0.50% | 7.2% | +8.0% | 1.93% |
| 32 | Charlotte, NC | 5.6% | $340,000 | $1,650 | 0.49% | 5.8% | +12.5% | 0.83% |
| 33 | Philadelphia, PA | 5.6% | $240,000 | $1,500 | 0.63% | 8.0% | -0.8% | 1.36% |
| 34 | Tampa, FL | 5.5% | $350,000 | $1,750 | 0.50% | 5.5% | +9.0% | 0.86% |
| 35 | Salt Lake City, UT | 5.4% | $420,000 | $1,650 | 0.39% | 4.5% | +5.0% | 0.58% |
| 36 | Orlando, FL | 5.3% | $355,000 | $1,700 | 0.48% | 5.8% | +10.5% | 0.89% |
| 37 | Nashville, TN | 5.2% | $400,000 | $1,800 | 0.45% | 5.5% | +10.0% | 0.66% |
| 38 | Raleigh, NC | 5.1% | $380,000 | $1,700 | 0.45% | 4.8% | +15.0% | 0.80% |
| 39 | Charleston, SC | 5.0% | $385,000 | $1,750 | 0.45% | 5.5% | +9.0% | 0.57% |
| 40 | Phoenix, AZ | 4.9% | $385,000 | $1,650 | 0.43% | 6.0% | +11.0% | 0.62% |
| 41 | Las Vegas, NV | 4.8% | $380,000 | $1,600 | 0.42% | 6.5% | +9.5% | 0.60% |
| 42 | Sacramento, CA | 4.7% | $450,000 | $1,850 | 0.41% | 4.8% | +5.5% | 0.75% |
| 43 | Boise, ID | 4.5% | $420,000 | $1,600 | 0.38% | 4.2% | +12.0% | 0.63% |
| 44 | Denver, CO | 4.4% | $525,000 | $1,900 | 0.36% | 5.5% | +6.5% | 0.51% |
| 45 | Austin, TX | 4.3% | $450,000 | $1,750 | 0.39% | 7.5% | +15.0% | 1.82% |
| 46 | Portland, OR | 4.2% | $480,000 | $1,750 | 0.36% | 5.8% | +2.0% | 1.07% |
| 47 | Seattle, WA | 3.8% | $720,000 | $2,200 | 0.31% | 5.0% | +5.0% | 0.92% |
| 48 | San Diego, CA | 3.5% | $820,000 | $2,600 | 0.32% | 4.2% | +3.0% | 0.73% |
| 49 | Los Angeles, CA | 3.2% | $900,000 | $2,700 | 0.30% | 4.5% | -1.0% | 0.76% |
| 50 | San Francisco, CA | 2.8% | $1,200,000 | $3,200 | 0.27% | 6.0% | -2.5% | 0.68% |
Top 10 Markets by Strategy
Best for Cash Flow
1Birmingham, AL6.2
2Little Rock, AR5.8
3Indianapolis, IN5.8
4Detroit, MI5.7
5Cleveland, OH5.7
6Huntsville, AL5.7
7Oklahoma City, OK5.6
8Memphis, TN5.5
9Louisville, KY5.5
10Tulsa, OK5.4
Best for BRRRR
1Detroit, MI7.6
2Cleveland, OH6.7
3Memphis, TN6.2
4Toledo, OH6.2
5Dayton, OH6.2
6Akron, OH6.1
7Birmingham, AL5.9
8Huntsville, AL5.9
9Indianapolis, IN5.8
10Little Rock, AR5.7
Best for House Hacking
1Huntsville, AL6.0
2Oklahoma City, OK5.6
3Indianapolis, IN5.5
4Des Moines, IA5.5
5Akron, OH5.4
6Columbus, OH5.4
7Raleigh, NC5.4
8Detroit, MI5.3
9Cleveland, OH5.3
10Kansas City, MO5.3
Best for Appreciation
1Raleigh, NC7.0
2Austin, TX6.6
3Huntsville, AL6.2
4Charlotte, NC6.2
5Phoenix, AZ6.1
6Boise, ID6.1
7Seattle, WA6.0
8Nashville, TN5.6
9San Diego, CA5.5
10Jacksonville, FL5.3
Key Takeaways
- Midwest dominates cash flow. Detroit, Cleveland, Memphis, and Indianapolis offer the highest cap rates and rent-to-price ratios, but population decline in some Ohio markets requires careful neighborhood selection.
- Sun Belt leads appreciation. Raleigh, Austin, Charlotte, Phoenix, and Nashville have the strongest population growth and income dynamics, but cap rates are compressed — these are growth plays, not cash flow plays.
- Property taxes matter more than you think. Birmingham (0.43%) and Knoxville (0.68%) save investors $3,000–$5,000/year compared to Milwaukee (2.53%) or Detroit (2.76%) at similar price points. Factor taxes into every analysis.
- Indianapolis is the best all-around market. It ranks in the top 5 for cash flow, BRRRR, and house hacking while maintaining positive population growth — the rare market that works for nearly every strategy.
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© 2026 ProInvestorHub.com • Free for personal use • Data is approximate and varies by neighborhood