SAGINAW (WKZO) -- Two Michigan cities have made another of RealtyTrac's list of best markets. Saginaw and Detroit are among the 20 best markets for buy a single family rental property in the nation. RealtyTrac analyzed median sales prices and average rental rates to come up with the list.
Saginaw is the second-best market nationally, with an estimated monthly mortgage rate of 242-dollars on a three-bedroom home costing just over 53-thousand dollars. Detroit came in 15th on the list with an estimated monthly mortgage rate of 363-dollars on a similar home costing 95-thousand dollars.
Topping the list nationally is Memphis, Tennessee, with a 277-dollar monthly mortgage rate for a home costing nearly 73-thousand dollars.