Where we invest

10 markets where the numbers work.

We buy where homes are affordable compared with rent, jobs are steady and landlords are treated fairly. Then we do the work so you don't have to.

View Properties Compare Markets

You Don't Have to Invest Where You Live

In a lot of cities, the math on a rental doesn't work anymore. Prices are too high for the rent to cover the mortgage. That's why most of our investors buy out of state, in markets where a home can pay for itself from day one.

We work with local teams in each of these markets: people who find the deals, renovate the homes, place the tenants and manage the properties. You get the benefit of that local knowledge without ever having to move there.

Our markets

Find Your Next Rental

Map of the United States with our 10 markets numbered: 1 Kansas City, 2 Memphis, 3 Birmingham, 4 Chattanooga, 5 Atlanta, 6 Chicago, 7 St. Louis, 8 Quad Cities, 9 Southwest Florida, 10 Columbus
  1. 1Kansas City, MOOur Largest Market
  2. 2Memphis, TNLowest Entry Price
  3. 3Birmingham, ALTurnkey + Seller Credits
  4. 4Chattanooga, TNFast-Growing Metro
  5. 5Atlanta, GACo-Living Market
  6. 6Chicago, ILBig-City Cash Flow
  7. 7St. Louis, MOEmerging Market
  8. 8Quad Cities, IA/ILDuplexes + Multifamily
  9. 9Southwest FloridaNew Construction
  10. 10Columbus, GAMilitary + Corporate Base
  11. Also available from time to time: Northern Indiana, the Wichita area and western Illinois

Our checklist

How We Pick a Market

A city has to pass all five before we buy a single home there.

  1. Affordable vs. Rent

    Home prices low enough that rent covers the loan with room to spare.

  2. DSCR-Ready Deals

    Every property qualifies for DSCR financing, many at 1.5 or higher.

  3. Steady Jobs

    Large, varied employers, so the local economy doesn't depend on one company.

  4. Fair Landlord Laws

    States that bar local rent control and keep rental rules predictable.

  5. Boots on the Ground

    Local crews and property managers we know and trust.

Chicago is the exception on landlord laws: Illinois bars rent control, but Chicago and Cook County add tenant rules. The Chicago section says so.

At a glance

Compare Our Markets

Tap a column heading to sort. Tap a market to jump to its details.
Kansas City, MOSingle-family cash flow$108K–$408K12.5%–24.0%36
Memphis, TNAffordable single-family$102K–$210K8.5%–15.1%6
Birmingham, ALTurnkey single-family$156K–$215K12.5%–17.8%6
Chattanooga, TNEquity + larger homes$226K–$380K8.5%–12.9%8
Atlanta, GARent-by-the-room$302K–$476K12.3%–18.8%6
Chicago, ILSouth Side + south suburbs$119K–$275K14.5%–25.9%6
St. Louis, MOSingle-family and small multi$198K–$325K15.2%–18.0%3
Quad Cities, IA/ILSmall multifamily$147K–$775K12.0%–21.7%4
Southwest FloridaNew-build duplexes$530K–$575K7.3%–10.2%6
Columbus, GASingle-family$238K–$259K10.9%2

Ranges from listings on the Next Level Investing Marketplace, September 17, 2026, including homes under contract or coming soon. Returns are proforma estimates, not guarantees.

Match your goal

Which Market Fits You?

Every market works differently. Start with what you want your first property to do.

If you want

Lowest price of entry

MemphisQuad Cities duplexesBirmingham

If you want

Highest projected cash flow

Kansas CityChicagoSt. Louis

If you want

Most income per house

Atlanta co-livingQuad Cities multifamily

If you want

Brand-new property

Southwest Florida

If you want

Growth and equity

ChattanoogaSouthwest Florida

If you want

Seller credit to buy down your rate

BirminghamKansas City

Not sure? Book a call and we'll match you with a market based on your budget and goals.

Talk to Our Team
Our largest market

Kansas CityMO

Kansas City and Independence, MO

The market

Metro population
2.27M
Unemployment
3.8%
Avg. city rent
$1,420
Median sale price
$310K

Our listings

Listings
36
List prices
$108K–$408K
Monthly rent
$999–$3,335
Projected cash on cash
12.5%–24.0%

Kansas City is where most of our deals are, and for good reason. Homes are affordable compared with the rents they bring in, which is why many of our Kansas City listings project cash-on-cash returns in the high teens. The metro keeps adding people and big employers, and Missouri law keeps rental rules set at the state level.

Why Kansas City

  • Growing metro. About 2.27 million people, up roughly 17,400 in the latest Census estimate.
  • Big-name employers. Ford, T-Mobile, The University of Kansas Health System, Garmin, Burns & McDonnell and Hallmark, plus Amazon, Saint Luke's and Children's Mercy.
  • New investment. Meta opened a $1 billion data center in 2025, and Panasonic opened a $4 billion EV battery plant in nearby De Soto, KS, with about 4,000 jobs.
  • Landlord-friendly rules. Missouri law bars cities from adopting rent control or local limits on tenant screening and security deposits.

Best for

Investors who want the strongest cash flow on a single-family home at an entry-level price.

View Kansas City Properties Sources
Lowest entry price

MemphisTN

Memphis, TN and West Memphis, AR

The market

Metro population
1.34M
Unemployment
4.7%
Avg. city rent
$1,250
Typical home value
$145K

Our listings

Listings
6
List prices
$102K–$210K
Monthly rent
$995–$1,595
Projected cash on cash
8.5%–15.1%

Memphis is one of the most affordable ways to own a rental in a major metro. Many of our homes here are listed under $120,000, so your down payment goes further and you can build a portfolio faster. It is a logistics capital with a deep base of healthcare jobs.

Why Memphis

  • Low price of entry. The typical Memphis home value is about $145,000, and our listings start near $100,000.
  • Logistics and healthcare hub. FedEx is the largest employer, alongside Methodist Le Bonheur, Baptist Memorial, St. Jude Children's Research Hospital, AutoZone headquarters and UT Health Science Center.
  • New investment. xAI filed a $659 million permit in 2026 to expand its Colossus 2 site in Memphis.
  • Landlord-friendly rules. Tennessee law bars local rent control.

Best for

First-time investors who want a low entry price and want to buy more than one door.

Good to know

The metro population dipped slightly in the latest estimate, and home values are down about 2.8% over the year. Low prices relative to rent are what keep the numbers working here.

View Memphis Properties Sources
Turnkey + seller credits

BirminghamAL

Birmingham, Bessemer, Adamsville, Leeds and Northport (Tuscaloosa area), AL

The market

Metro population
1.20M
Unemployment
3.5%
Avg. city rent
$1,195
Median sale price
$190K

Our listings

Listings
6
List prices
$156K–$215K
Monthly rent
$1,459–$1,850
Projected cash on cash
12.5%–17.8%

Birmingham offers renovated three and four bedroom homes in the $150,000s to low $200,000s, and many of them come with a 2% seller credit. The economy is anchored by one of the largest academic medical centers in the South, banking and auto manufacturing.

Why Birmingham

  • Anchored by healthcare and banking. UAB employs about 35,000 people, Regions Financial about 9,000, Mercedes-Benz about 6,000 and Children's of Alabama about 5,600.
  • Low unemployment. 3.5% in July 2026.
  • New investment. Jefferson County announced $401.5 million in economic development projects and 886 jobs in 2025, including a $135 million CMC Steel expansion.
  • Landlord-friendly rules. Alabama has no rent control.

Best for

Investors who want a renovated home with a seller credit to buy down their rate.

View Birmingham Properties Sources
Fast-growing metro

ChattanoogaTN

Chattanooga, Hixson and Cleveland, TN; Rossville and Flintstone, GA

The market

Metro population
595K
Growth since 2020
+5.5%
Unemployment
3.3%
Avg. city rent
$1,476

Our listings

Listings
8
List prices
$226K–$380K
Monthly rent
$1,725–$3,250
Projected cash on cash
8.5%–12.9%

Chattanooga is growing more than twice as fast as the country, mostly from people moving in from other states. Our homes here tend to be larger, including duplexes and homes with built-in equity, which makes this a strong market for long-term appreciation as well as cash flow.

Why Chattanooga

  • Population growth. The metro grew 5.5% from 2020 to 2025, more than twice the U.S. rate.
  • Diverse employers. BlueCross BlueShield of Tennessee, Erlanger Health, Volkswagen, TVA and Unum.
  • Job growth. Unemployment was 3.3% in July 2026, with jobs up 0.8% over the year.
  • Landlord-friendly rules. Tennessee law bars local rent control.

Best for

Investors who want equity and appreciation potential along with cash flow.

View Chattanooga Properties Sources
Co-living market

AtlantaGA

Decatur, Stone Mountain and Atlanta, GA

The market

Metro population
6.48M
New residents in a year
+62K
Unemployment
3.2%
Avg. city rent
$2,089

Our listings

Listings
6
List prices
$302K–$476K
Monthly rent
$5,789–$8,850
Projected cash on cash
12.3%–18.8%

Atlanta is our co-living market. These homes rent by the room, so total monthly rent is far higher than a traditional lease on the same house. Atlanta is also home to PadSplit, a national co-living marketplace, and the metro keeps adding tens of thousands of residents a year.

Why Atlanta

  • Big, growing metro. About 6.48 million people, adding nearly 62,000 in the latest Census estimate.
  • Deep job base. Delta Air Lines, Northside Hospital, Piedmont Healthcare, Publix, Wellstar and Home Depot are among the largest employers.
  • Demand for affordable rooms. With average city rent near $2,100, many workers look for a room instead of a full apartment. PadSplit, headquartered in Atlanta, had more than 20,000 units nationwide as of 2025.
  • Landlord-friendly rules. Georgia law bars local governments from regulating rent amounts.

Best for

Investors who want higher income per property and are comfortable with a room-rental model.

Good to know

Local zoning rules on rooming houses vary.

View Atlanta Properties Sources
Big-city cash flow

ChicagoIL

Chicago South Side and Dolton, IL

The market

Metro population
9.43M
Avg. city rent
$2,000
City median sale price
$426K
Job growth, 1 year
+0.3%

Our listings

Listings
6
List prices
$119K–$275K
Monthly rent
$1,375–$3,503
Projected cash on cash
14.5%–25.9%

Chicago's South Side lets you buy in the third largest metro in the country for a fraction of the city's median price. Rents are strong, which is why these listings show some of the highest projected returns on our marketplace.

Why Chicago

  • Big-city rents, small-city prices. The citywide median sale price is about $426,000, while our South Side listings run from about $119,000 to $275,000.
  • Huge, stable job base. The federal government, Chicago Public Schools, the City of Chicago, Amazon, Advocate Health Care and Northwestern Medicine.
  • New investment. The $850 million Obama Presidential Center opened in Jackson Park in June 2026, with about 600,000 visitors a year projected.

Best for

Experienced investors who want top-tier returns and are comfortable with stricter local rules.

Good to know

Illinois does not allow local rent control, but Chicago and Cook County have tenant ordinances with rules on deposits, fees and notice periods.

View Chicago Properties Sources
Emerging market

St. LouisMO

St. Louis and Florissant, MO; Granite City, IL

The market

Metro population
2.81M
Unemployment
3.8%
Avg. city rent
$1,262
New NGA campus
$1.75B

Our listings

Listings
3
List prices
$198K–$325K
Monthly rent
$2,050–$4,295
Projected cash on cash
15.2%–18.0%

St. Louis pairs affordable homes with a large, stable economy built on healthcare, universities and aerospace. A new $1.75 billion federal campus in north St. Louis is bringing thousands of workers into the city.

Why St. Louis

  • Large, stable metro. About 2.81 million people, with jobs up 0.5% over the year.
  • Anchor employers. Washington University, Boeing, Barnes-Jewish Hospital, General Motors and Saint Louis University.
  • New investment. The National Geospatial-Intelligence Agency opened its $1.75 billion West campus in north St. Louis in 2025, with about 3,100 workers.
  • Landlord-friendly rules. On the Missouri side, state law bars local rent control.

Best for

Investors who want strong projected returns in a large metro close to Kansas City.

View St. Louis Properties Sources
Duplexes + multifamily

Quad CitiesIA/IL

Davenport, IA

The market

Metro population
380K
Unemployment
3.9%
Typical home value
$196K
John Deere jobs
7,500

Our listings

Listings
4
List prices
$147K–$775K
Monthly rent
$1,750–$8,465
Projected cash on cash
12.0%–21.7%

The Quad Cities is a steady Midwest market where older, well-built duplexes and small multifamily buildings still sell at prices that produce real cash flow. John Deere, the Rock Island Arsenal and two major health systems keep the job base stable.

Why Quad Cities

  • Stable employers. John Deere (about 7,500 jobs), Rock Island Arsenal (6,300), UnityPoint Trinity (6,100), MercyOne Genesis (4,700) and Hy-Vee (4,200).
  • Affordable multifamily. The typical Davenport home value is about $196,000, and our duplexes start under $150,000.
  • New investment. Arconic broke ground on a $175 million casting complex at Davenport Works in 2026.
  • Landlord-friendly rules. Iowa law bars cities from limiting rents.

Best for

Investors who want more than one unit under one roof.

Good to know

The metro population has been flat, so we focus on property-level cash flow rather than growth.

View Quad Cities Properties Sources
New construction

Southwest FloridaCape Coral + Punta Gorda

Cape Coral, Punta Gorda and Lehigh Acres, FL

The market

Cape Coral-Fort Myers metro
876K
Growth since 2020
+15%
Punta Gorda growth rank
Top 10
Avg. Cape Coral rent
$1,949

Our listings

Listings
6
List prices
$530K–$575K
Monthly rent
$3,690–$3,990
Projected cash on cash
7.3%–10.2%

Southwest Florida is our new-construction market. These are brand-new duplexes built in 2023 to 2026, in one of the fastest-growing parts of the country. New construction means fewer repairs and homes built to Florida's modern building code.

Why Southwest Florida

  • Population growth. The Cape Coral-Fort Myers metro grew about 15% from 2020 to 2025, and Punta Gorda was one of the ten fastest-growing U.S. metros in the latest Census estimates.
  • Built to a stronger code. Florida adopted a statewide building code in 2002, and FEMA found newer buildings performed relatively well in Hurricane Michael.
  • Two rents, one property. Each duplex has two units, and total rents on our listings run about $3,700 to $4,000 a month.
  • Landlord-friendly rules. Florida law bars local rent control, and since 2023 the state alone regulates residential tenancies.

Best for

Investors who want a new, low-maintenance property and long-term growth.

Good to know

Home values in the area have dipped over the past year, and insurance costs more in Florida than the national average.

View Southwest Florida Properties Sources
Military + corporate base

ColumbusGA

Columbus, GA

The market

Metro population
325K
Avg. city rent
$1,314
Rent change, 1 year
+4.2%
Pratt & Whitney expansion
$200M

Our listings

Listings
2
List prices
$238K–$259K
Monthly rent
$1,850–$1,875
Projected cash on cash
10.9%

Columbus has a steady rental base built around Fort Benning and major corporate employers like Aflac and Synovus. Rents have been rising, and some listings here come with two years of free property management.

Why Columbus

  • Steady renters. Fort Benning, Aflac, Synovus, Piedmont Columbus Regional and Pratt & Whitney are major employers.
  • Rising rents. Average city rent is about $1,314, up 4.2% over the year.
  • New investment. Pratt & Whitney announced a $200 million expansion in 2026.
  • Landlord-friendly rules. Georgia law bars local governments from regulating rent amounts.

Best for

Investors who want a steady rental base and a simple single-family home.

View Columbus Properties Sources

Market data: U.S. Census, BLS, Zillow, Redfin and local sources, 2025–2026. Listing data: Next Level Investing Marketplace, Sept. 17, 2026. Projections are estimates, not guarantees.

What's next

Always Looking for the Next Market

We also list homes from time to time in Northern Indiana, the Wichita area and western Illinois. New markets are added only after they pass our five-point checklist. Register for our weekly property alerts to see them first.

Get New Deals First

FAQ

Questions and Answers

Do I need to live near my rental?

No. Most of our investors buy out of state. Local teams handle the renovation, tenants and management, and you get statements and deposits every month.

Why don't you invest in my city?

In many high-cost cities, rent doesn't cover the mortgage on a typical home. We focus on markets where it does.

Can I buy in more than one market?

Yes. Buying in two or three markets is one way to spread out your risk.

Can I visit a property before I buy?

Yes. You're always welcome to see a home in person. We also share photos, the renovation scope and inspection details.

How current is the market data on this page?

Market figures come from the U.S. Census Bureau, the Bureau of Labor Statistics, Zillow, Redfin and local sources, dated 2025 to 2026. Listing ranges come from our marketplace and change often.

Are the returns guaranteed?

No. Returns shown are proforma estimates. Real results depend on vacancy, repairs, taxes, insurance, interest rates and other factors.

Pick a Market.
We'll Handle the Rest.

Browse homes by city or talk with our team about which market fits your goals.

View Properties Get Pre-Approved
Sources All sources accessed September 2026

Market data is drawn from third-party sources believed to be reliable, including the U.S. Census Bureau, the Bureau of Labor Statistics, Zillow and Redfin, and may change. Listing prices, rents and projected returns are estimates based on information available at the time of listing and are not guaranteed. Next Level Investing does not provide tax or legal advice.

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