Millennials are finally moving into their homebuying years, but with precious few starter houses available for sale, a growing number of these buyers are choosing to rent single-family homes. That is a big opportunity for investors overall, especially in markets seeing the greatest rent growth -- and some of those markets are surprising.
Large-scale, institutional investors may have cleaned house during the foreclosure crisis, buying distressed homes in markets like Las Vegas, Phoenix and much of Florida, but the bulk of investors today are smaller scale. They are seeing more lucrative opportunities in less-obvious markets.