New York City tops Forbes list of best rental markets

Posted in Market Conditions, Renting, Uncategorized on November 5, 2009 at 4:07 pm

For anyone who has hunted for an apartment in New York City, only to discover just how little they could actually afford — what?! there’s a shower in the kitchen AND I have to walk up four flights! — it may come as a surprise that the Big Apple makes Forbes‘ best rental markets list.

Could be that’s because the Forbes best rental markets list isn’t based on how expensive rents are, it’s based on whether it makes more financial sense to buy or rent in a market.

Using the capitalization rate, which essentially determines the value of an income-producing property like a home, Forbes uncovered these six markets where it makes more financial sense to rent.

Here are the best rental markets in America:

1. Los Angeles, California

2. New York, New York

3. Orange County, California

4. San Francisco, California

5. San Jose, California

6. Seattle, Washington
Read more: http://www.nydailynews.com/money/2009/11/04/2009-11-04_new_york_city_makes_forbes_list_of_best_rental_markets.html#ixzz0W1FJTy9H