The city of St Louis made the list of the top 50 markets to rent to Millenials, published by RealtyTrac. In determining the best markets in the U.S. for renting to millennial (most of whom are in their 20’s or early 30’s), RealtyTrac looked at rental markets where the gross annual yield on rentals was at least 9 percent, where Millenials make up more than 22 percent of the market (the national average) and where the Millenial population had increased at least 5% from 2007 through 2013.
For the city of St Louis, as the table below shows, the Millenial population grew 18% from 2007 to 2013 and in 2013 accounted for over 28% of the market.
Source: RealtyTrac
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In terms of gross annual yield on rentals, the table below shows this yield for the counties in the immediate St Louis area revealing the city of St Louis has the highest annual gross yield on rentals at 10.63% and St Charles County the lowest at 7.09%. The annual gross yield was calculated by dividing the amount of annual rental income by the median home sales price in each county.
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