HCRI Index measures Effective Gross Yield, defined as the current fair market annualized rent minus estimated property tax, divided by the current fair market home value for all non-owner occupied single-family properties in the U.S.
HouseCanary’s data analytics group has indexed, normalized, and analyzed 40 years of U.S. residential property data, spanning over 1 billion transactions and 100s of macro-economic and local data points, to derive an accurate view of current home values and rental values nationally. The single-family, non-owner occupied portion of these home and rental values is used to derive Gross Yield discussed in this document. Gross Yield, defined as the current fair market annual rent divided by the current fair market home value, can be computed for individual homes, U.S. census blocks, zip codes, states, and the national level.
Access Effective Gross Yield by state and for the top 50 U.S. Metro Statistical Areas (MSAs) here. Contact us to obtain Effective Gross Yield for the top 275 MSAs, as well as for zip codes and census blocks within MSAs.
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Within the Atlanta MSA, top-performing zip codes generate 25.1 percent gross yield, while the lowest generate only 4.4 percent. The difference in gross yield is driven by local factors, including the current cost of homeownership, household income, shifting demographics, and home price appreciation since the last recession.
Technology to help investors increase yields using analytics and the richest data set available:
Revenue management. Market rent valuations and real-time comparables to set rents with confidence.
Asset management. Intelligent decision support for rehab and disposition.
Portfolio growth. National data set to help identify the best micro-markets to fit your yield objectives.