City of St Louis Makes List of Top Millennial Rental Meccas

By Dennis Norman, on October 21st, 2016

The city of St Louis is one of the “Top 17 Single Family Rental Millennial Meccas“, according to a report just released by Attom Data Solutions.  As the interactive info graphic below shows, St Louis joins the likes of Baltimore Maryland, Milwaukee Wisconsin and El Paso Texas, along with others, as a place that is ripe for investors to rent homes to millennials.  For the report, millennial were defined as people born between 1979 and 1993.  According to the report, investors that purchased rental homes in the city of St Louis during the first half of 2016 saw a gross rental yield of 12%, nearly 50% higher than the national average of 8.7%.  In addition, millennials make up nearly a third of the population of the city of  St Louis (29.3%) and 29.8% of the city is rental property, making for a solid rental market.  On the downside, the average wages in the city of St Louis is down 2% from last year.

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