Private landlords earn most in San Francisco: Compare the Market
By Goola Warden
/ The Edge Singapore |
Research by price comparison website Compare the Market shows that the city where locals can make the most by renting out their properties privately is San Francisco
SINGAPORE (EDGEPROP) - Research by price comparison website Compare the Market shows that the city where locals can make the most by renting out their properties privately is San Francisco, where the average rent is more than US$5,000 ($6,730) a month. San Francisco is a very densely populated city and a cultural, commercial and financial hub, with high levels of income and cost of living.
Another major US city had the second-highest average rent, this time on the West Coast. New York’s average rent comes in at US$4,708 per month, and like San Francisco, the Big Apple is a hugely important city and has even been referred to as the capital of the world.
Las Vegas is the most profitable city for Airbnb hosts. Average Airbnb listings are US$8,895 higher than the average rent price. With an average price of more than US$10,000 a month, Airbnb is an attractive offer for natives looking to make some extra cash.
The city with the largest gap between rent and Airbnb prices is Mugla, Turkey (1072%).
The city with the smallest gap between rent and Airbnb prices is Hong Kong, China (-48%).
Singapore ranks sixth on the list as the best city to earn as a private landlord.
Source: Compare the Market
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