Gross rental yields in the United States: New York and 14 other cities
The average gross rental yield in the United States stands at 6.10% (Q3, 2024). Previously, in Q2, 2023 the average gross rental yield stood at 5.93%.
- New York
- Chicago
- Miami
- Los Angeles
- Las Vegas
- Orlando
- San Diego
- Washington
- Boston
- Houston
- Philadelphia
- Atlanta
- Seattle
- San Francisco
- Portland
Last Updated: Aug 09, 2024 | |||
NEW YORK - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Manhattan | |||
Studio | $750,000 | $3,818 | 6.11% |
1-Bedroom | $1,199,000 | $4,810 | 4.81% |
2-Bedroom | $2,375,000 | $6,500 | 3.28% |
3-Bedroom | $4,498,000 | $7,792 | 2.08% |
4+Bedroom | $8,995,000 | $9,000 | 1.20% |
Queens | |||
Studio | $595,000 | $3,000 | 6.05% |
1-Bedroom | $696,000 | $3,000 | 5.17% |
2-Bedroom | $830,000 | $3,650 | 5.28% |
3-Bedroom | $849,000 | $3,550 | 5.02% |
4+Bedroom | $1,100,000 | $4,200 | 4.58% |
Brooklyn | |||
Studio | $760,000 | $3,499 | 5.52% |
1-Bedroom | $750,000 | $3,780 | 6.05% |
2-Bedroom | $995,000 | $4,350 | 5.25% |
3-Bedroom | $999,000 | $4,999 | 6.00% |
4+Bedroom | $1,455,000 | $4,950 | 4.08% |
Bronx | |||
1-Bedroom | $230,000 | $2,300 | 12.00% |
2-Bedroom | $495,000 | $2,700 | 6.55% |
3-Bedroom | $679,000 | $3,200 | 5.66% |
Staten Island | |||
1-Bedroom | $349,999 | $1,800 | 6.17% |
2-Bedroom | $519,000 | $2,500 | 5.78% |
3-Bedroom | $729,000 | $3,200 | 5.27% |
New York avg. Rental Yields | 5.33% | ||
CHICAGO - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Streeterville | |||
1-Bedroom | $300,000 | $2,610 | 10.44% |
2-Bedroom | $599,000 | $4,079 | 8.17% |
3-Bedroom | $1,375,000 | $7,167 | 6.25% |
Lake View | |||
1-Bedroom | $237,500 | $1,975 | 9.98% |
2-Bedroom | $439,000 | $2,850 | 7.79% |
3-Bedroom | $669,000 | $3,595 | 6.45% |
Chicago avg. Rental Yields | 8.18% | ||
MIAMI - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Miami Beach | |||
Studio | $300,000 | $2,250 | 9.00% |
1-Bedroom | $415,000 | $2,950 | 8.53% |
2-Bedroom | $879,000 | $4,985 | 6.81% |
3-Bedroom | $2,999,500 | $16,584 | 6.63% |
4+Bedroom | $5,199,000 | $30,000 | 6.92% |
Brickell | |||
Studio | $420,000 | $2,800 | 8.00% |
1-Bedroom | $590,000 | $3,500 | 7.12% |
2-Bedroom | $860,000 | $4,800 | 6.70% |
3-Bedroom | $1,620,000 | $9,000 | 6.67% |
Miami avg. Rental Yields | 7.38% | ||
LOS ANGELES - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Downtown | |||
Studio | $480,000 | $2,200 | 5.50% |
1-Bedroom | $620,000 | $3,008 | 5.82% |
2-Bedroom | $998,000 | $3,710 | 4.46% |
Los Angeles (all locations) | |||
Studio | $609,000 | $1,950 | 3.84% |
1-Bedroom | $595,000 | $2,495 | 5.03% |
2-Bedroom | $819,000 | $3,295 | 4.83% |
3-Bedroom | $1,175,000 | $4,350 | 4.44% |
4+Bedroom | $1,788,888 | $4,500 | 3.02% |
Los Angeles avg. Rental Yields | 4.62% | ||
LAS VEGAS - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Las Vegas (all locations) | |||
Studio | $329,900 | $1,210 | 4.40% |
1-Bedroom | $265,000 | $1,400 | 6.34% |
2-Bedroom | $319,900 | $1,550 | 5.81% |
3-Bedroom | $540,000 | $2,050 | 4.56% |
Las Vegas avg. Rental Yields | 5.28% | ||
ORLANDO - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Orlando (all locations) | |||
1-Bedroom | $181,000 | $1,500 | 9.94% |
2-Bedroom | $246,900 | $1,825 | 8.87% |
3-Bedroom | $400,000 | $2,499 | 7.50% |
4+Bedroom | $659,900 | $3,100 | 5.64% |
Orlando avg. Rental Yields | 7.99% | ||
SAN DIEGO - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
San Diego (all locations) | |||
Studio | $419,999 | $2,336 | 6.67% |
1-Bedroom | $519,900 | $2,693 | 6.22% |
2-Bedroom | $815,000 | $3,530 | 5.20% |
3-Bedroom | $1,199,000 | $4,700 | 4.70% |
4+Bedroom | $1,649,000 | $4,900 | 3.57% |
San Diego avg. Rental Yields | 5.27% | ||
WASHINGTON - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Columbia Heights | |||
1-Bedroom | $370,000 | $1,700 | 5.51% |
2-Bedroom | $574,500 | $3,159 | 6.60% |
3-Bedroom | $800,000 | $3,900 | 5.85% |
4+Bedroom | $989,900 | $3,695 | 4.48% |
Washington avg. Rental Yields | 5.61% | ||
BOSTON - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Boston (all locations) | |||
Studio | $482,000 | $2,625 | 6.54% |
1-Bedroom | $750,000 | $3,100 | 4.96% |
2-Bedroom | $949,900 | $3,700 | 4.67% |
3-Bedroom | $1,349,000 | $3,800 | 3.38% |
4+Bedroom | $1,690,000 | $4,600 | 3.27% |
Boston avg. Rental Yields | 4.56% | ||
HOUSTON - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Houston (all locations) | |||
Studio | $550,000 | $1,375 | 3.00% |
1-Bedroom | $164,900 | $1,329 | 9.67% |
2-Bedroom | $240,000 | $1,678 | 8.39% |
3-Bedroom | $349,000 | $2,198 | 7.56% |
4+Bedroom | $440,000 | $2,350 | 6.41% |
Houston avg. Rental Yields | 7.01% | ||
PHILADELPHIA - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Old City | |||
1-Bedroom | $299,900 | $1,925 | 7.70% |
2-Bedroom | $465,000 | $2,550 | 6.58% |
Philadelphia (all locations) | |||
Studio | $169,900 | $1,395 | 9.85% |
1-Bedroom | $299,900 | $1,678 | 6.71% |
2-Bedroom | $299,000 | $1,875 | 7.53% |
3-Bedroom | $255,000 | $2,100 | 9.88% |
4+Bedroom | $400,000 | $2,315 | 6.95% |
Philadelphia avg. Rental Yields | 7.89% | ||
ATLANTA - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Atlanta (all locations) | |||
1-Bedroom | $284,900 | $1,724 | 7.26% |
2-Bedroom | $384,900 | $2,134 | 6.65% |
3-Bedroom | $389,000 | $2,680 | 8.27% |
4+Bedroom | $599,900 | $3,450 | 6.90% |
Atlanta avg. Rental Yields | 7.27% | ||
SEATTLE - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Seattle (all locations) | |||
Studio | $319,900 | $1,520 | 5.70% |
1-Bedroom | $449,000 | $1,895 | 5.06% |
2-Bedroom | $719,950 | $2,795 | 4.66% |
3-Bedroom | $899,950 | $3,500 | 4.67% |
4+Bedroom | $1,385,000 | $3,500 | 3.03% |
Seattle avg. Rental Yields | 4.62% | ||
SAN FRANCISCO - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
San Francisco (all locations) | |||
Studio | $499,000 | $2,107 | 5.07% |
1-Bedroom | $725,000 | $3,000 | 4.97% |
2-Bedroom | $1,199,000 | $4,270 | 4.27% |
3-Bedroom | $1,480,000 | $5,195 | 4.21% |
4+Bedroom | $1,990,000 | $5,795 | 3.49% |
San Francisco avg. Rental Yields | 4.40% | ||
PORTLAND - All Dwellings | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Portland (all locations) | |||
Studio | $190,000 | $1,275 | 8.05% |
1-Bedroom | $324,900 | $1,465 | 5.41% |
2-Bedroom | $400,000 | $1,875 | 5.63% |
3-Bedroom | $559,000 | $2,495 | 5.36% |
Portland avg. Rental Yields | 6.11% | ||
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you'll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and Realtor |
The United States's Historic Rental Yield Data
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of the United States. We used the local real estate listing website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).