If youíre thinking of buying a single family home to rent out, Hernando might be the place to do it. Hernando ranks among the top 30 counties nationwide for the greatest return on investment with the least amount of risk, ATTOM Data Solutions says.
A Hernando house bought for $149,900, the median price, should rent for $1,466 a month for a gross annual rental yield of 11.7 percent. The vacancy rate for Hernando single family rentals is just 2.13 percent, the third lowest among the 30 counties and far below the national rate of almost 9 percent.
"Despite declining returns in many areas, the single-family rental market continues to grow thanks to more activity by smaller and middle-tier investors," said Daren Blomquist, senior vice president at ATTOM Data Solutions. "The biggest increase in market share over the past year has come among investors owning six to 10 single family rentals, followed by those owning between 11 and 100 rentals."