The 2014 first quarter RPI scores are in, and they show that Philadelphia is in the recovering section. For those unfamiliar, RPI stands for Rental Property Investment, and was invented by All Property Management to gauge the attractiveness of a rental property market for the property owner. While it easy for renters or buyers to find area ratings, buyers with intent to rent to others find choosing an area a bit more difficult. With a score of 53, the city has a vacancy rate of roughly 11.60% and a rent variance change of only 1.43%. As you can see in the recovering list image, it falls in the same category as some other major cities, such as Chicago, Boston, and Buffalo. It appears that one of the major factors keeping these cities from the top of the list is job growth. This year, cities on the West Coast have done especially well in job growth while many on the East Coast have seen small improvements.
Now that Philadelphia is scored in the upper half of RPIs, you should think about renting out your own property in the city of brotherly love. If you need a property manager, you know just who to call!
