If you’re a buy and hold type of individual. This is one list you may be interested in. It is up-to-date as of today. If you’ve run across a good deal in one of these areas, you may want to highly consider purchasing it. Here is why:

10 best cities for rental properties

1) Las Vegas – Las Vegas has long been a Mecca for gamblers, but
now it’s the go-to place for real estate investors who want to
clean up on rental properties.
Median home price (2011): $130,100
Projected home price (2014): $120,000
Gross rent (2011): $922
Projected gross rent (2014): $966
Las Vegas has the highest foreclosure rate in the nation — and
many of those former homeowners now rent. “Much of the large
workforce in the casino industry consists of renters; the home
ownership rate is a low 55%,” said Winzer.

2) Detroit
Median home price (2011): $97,800
Projected home price (2014): $94,600
Gross rent (2011): $681
Projected gross rent (2014): $764
The auto industry’s troubles, which began in the mid-2000′s,
helped send unemployment soaring and Detroit area home prices
plunging some 37% from their peak. Unfortunately, the industry’s
modest recovery has done little to drive home prices in the area
higher: Winzer forecasts a falloff of another 3% over the next
three years. Rents, though, are expected to rise about 12% over
that time. Winzer said the average return on rentals will be
about 4.4% higher than the national average.

3) Warren, Michigan
Median home price (2011): $106,400
Projected home price (2014): $105,200
Gross rent (2011): $648
Projected gross rent (2014): $736
Home prices in Warren, Mich. have dropped at a rate that is
almost as severe as nearby Detroit — prices have declined by
about 35% from the peak — as a result of its reliance on the
auto industry. Warren is home to a major automotive research
facility, which used to employ a large percentage of the
population. Many of the homes for rent here are well-kept and
located in tidy neighborhoods, making them attractive for
renters.

4) Orlando, Florida
Median home price (2011): $165,200
Projected home price (2014): $166,200
Gross rent (2011): $980
Projected gross rent (2014): $1,148
The real estate market in Orlando — home to Disney and a slew of
other theme parks — has been anything but magical lately. Prices
have plummeted 43% since 2006, according to Local Market Monitor.
Winzer projects little in the way home price gains Orlando over
the next three years. Rents, on the other hand, are expected to
climb by a healthy 17% clip, he said.

5) Bakersfield, California
Median home price (2011): $131,000
Projected home price (2014): $128,500
Gross rent (2011): $736
Projected gross rent (2014): $829
After the housing market bubble burst, Bakersfield, Calif. became
one of the nation’s sickest housing markets, with plunging
prices, high delinquency rates and many foreclosures.
Unemployment here soared to more than 15%. With employment
improving slowly but surely — the unemployment rate fell a half
point over the past 12 months — rents are estimated to climb
higher.

6) Tampa, Florida
Median home price (2011): $152,700
Projected home price (2014): $147,200
Gross rent (2011): $832
Projected gross rent (2014): $933
As home to many of Florida’s retirees, rents in Tampa have
bounced up and down a little, but have remained basically flat
the past three years. But with the local labor market on the
mend — the unemployment rate fell a point over the 12 months
ended in May and is down to 10.5% — rents are expected to take
off, increasing about 12% over the next three years, according to
Local Market Monitor.

7) Phoenix
Median home price (2011): $155,600
Projected home price (2014): $148,200
Gross rent (2011): $834
Projected gross rent (2014): $936
Phoenix was the poster child for the housing bubble: Speculation
sent home prices soaring by annual double-digit increases for
three years until the bubble popped in 2007 and they have fallen
more than 47% since. Foreclosures have been a big problem here
and many people who lost their homes are now renting. As a
result, rents are on the rise. Local Market Monitor estimates
rents will increase by more than $100 a month over the next three
years.

8 ) Fort Lauderdale, Florida
Median home price (2011): $200,500
Projected home price (2014): $189,200
Gross rent (2011): $1,090
Projected gross rent (2014): $1,195
Even though home prices in this pricey part of Florida are
expected to fall further, rental rates are going strong. Rents
in Fort Lauderdale average nearly $1,100 a month and are
projected to increase by nearly 10% over the next three years,
according to Local Market Monitor.

9) Rochester NY
Median home price (2011): $150,500
Projected home price (2014): $155,500
Gross rent (2011): $825
Projected gross rent (2014): $947
Rochester’s housing market never sputtered as badly as some of
the other cities on this list. Home prices are slightly higher
than they were during the market boom and unemployment, at 7.1%
in May, is well below the national level. Even during the down
years, rents have held up fairly well and are projected to get
stronger rising about 15% by 2014 as unemployment eases over the
next few years.

10) Stockton, California
Median home price (2011): $157,100
Projected home price (2014): $150,000
Gross rent (2011): $821
Projected gross rent (2014): $915
Like Bakersfield, Calif., Stockton is a Central Valley city where
speculation pressure spilled over from more expensive coastal
markets and drove local prices into a frenzy during the bubble.
Rising rents, forecast to go up 11% over the next three years,
should add to investor gains but buyers won’t turn a profit on
sales for many years. Home prices are expected to fall another 4%
or so by 2014.