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).

To continue reading, subscribe now

Access up-to-date real estate data.

Subscribe to Global Property Guide

Get the data behind 70+ countries for $29 per month.
Latest Market Reports
Rental Yields
House Price Indices
Square Metre Prices
Tax and Buying Guides
Median Prices and Rents
Quarterly Market Reports