FMLS Residential · SFR investors and flippers
Renter-heavy markets with real prices
Census renter share, HUD voucher rents, and Census market rents, matched to what houses actually closed for. Two yields, so a voucher screen is not confused with open-market rent. Not a cap rate.
A high SAFMR means nothing if the house costs $600,000. This list keeps ZIPs where at least 35% of occupied homes are rented, then shows the closed median, dollar-per-foot, days on market, and the voucher rent. Flippers care about the price and the DOM. Rental investors care about the rent against that price. Closings, rents, and inventory are observed. Yields and the voucher premium are calculated. Nothing here is an estimated return.
| ZIP | Renters | Vacancy | Median close | $/SF | DOM | Active | Voucher yield | Market yield | Voucher premium | Confidence |
|---|
How to read the yield
- Voucher yield is 2-bedroom SAFMR × 12 ÷ median close. Market yield uses the Census median gross rent the same way. They are different. Neither is a cap rate. A 8% screen can be a 4% deal after taxes, insurance, vacancy, and repairs.
- Where voucher yield sits above market yield, the HUD benchmark is richer than open-market rent. That is a screen, not an approved rent.
- High vacancy with a high renter share can mean turnover, not demand. Read it before you underwrite.
- Short-term rental markets are a different product. Mountain and lake communities are on the vacation homes page, with live inventory behind each one.