Please ensure Javascript is enabled for purposes of website accessibility
California's Best City to Invest in Rental Housing? It's Madera
By admin
Published 2 years ago on
June 19, 2023

Share

Getting your Trinity Audio player ready...

California rental housing investment returns may lag behind the rest of the country, but Central Valley cities have the biggest gains in the state.

Zillow data show rent in Madera will pay back a 20% down payment — the typical amount needed for a rental property — faster than anywhere else in the state. Real estate website Agent Advice compiled the data.

Three Years to Get a Down Payment Back in Madera

At an average rent of $2,195 a month, .57% of the average home value, it only takes 36 months to pay off the down payment, four months shorter than the national average of 40 months. The state average to pay back a down payment is 50 months, due in large part to very high average property values, the report stated.

Hanford, Visalia, Fresno, and Bakersfield round out the top five, in that order.

Madera’s year-over-year rental rate increases far outpace the other four cities. Zillow’s rent index — which includes apartments — shows rents growing 17.4% to $1,997 a month in May. Rent hikes in the other four cities hovered around 5%.

  • Hanford 5.8% to $1,774
  • Visalia 5.1% to $1,720
  • Fresno 5.1% to $2,005
  • Bakersfield 4.7% to $1,754
This chart from the real estate brokerage website Agent Advice shows the top 10 cities in California for the best returns on rental properties. (Screengrab)

Madera Population Growth Modest, Bakersfield Trends Fastest

Population growth in Madera falls behind other cities in the ranking. Of the top five, Bakersfield has undergone the biggest population boom over the past five years, growing 6.15% to 408,373 as of Jan. 1, according to the California Department of Finance. Madera only grew 1.7% to 65,540 people. Visalia has grown 5.37%, with a population of 143,031 people.

For landlords competing with housing affordability, Madera County has one of the highest housing affordability ratings in the Central Valley. Approximately 54% of households can afford an entry-level home in the county, according to the California Association of Realtors. Tulare and Kings counties have slightly higher shares with 55% of households able to afford an entry-level home.

The state affordability average is 36%.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Trump Says After Xi Call That US and China Will Resume Trade Talks

DON'T MISS

Procter & Gamble Slashes Workforce as Tariffs Drive Up Costs

DON'T MISS

Giants Score 6 Runs! Ramos Delivers Key Double in Win Over Padres

DON'T MISS

Israel Says It Has Recovered the Bodies of 2 Israeli-American Hostages From the Gaza Strip

DON'T MISS

WorldPride Gathers in Washington as Trump Rolls Back LGBTQ+ Rights

DON'T MISS

Trump Suspends Entry of International Students Studying at Harvard

DON'T MISS

US Weekly Jobless Claims Rise for Second Straight Week

DON'T MISS

US Trade Deficit Narrows Sharply in April; Imports Post Record Drop

DON'T MISS

Silver Surges Past $35/oz Level to Hit a More Than 13-Year High

DON'T MISS

Fresno Unified Will Provide Free Summer Lunches for Youth

UP NEXT

Procter & Gamble Slashes Workforce as Tariffs Drive Up Costs

UP NEXT

Giants Score 6 Runs! Ramos Delivers Key Double in Win Over Padres

UP NEXT

Israel Says It Has Recovered the Bodies of 2 Israeli-American Hostages From the Gaza Strip

UP NEXT

WorldPride Gathers in Washington as Trump Rolls Back LGBTQ+ Rights

UP NEXT

Trump Suspends Entry of International Students Studying at Harvard

UP NEXT

US Weekly Jobless Claims Rise for Second Straight Week

UP NEXT

US Trade Deficit Narrows Sharply in April; Imports Post Record Drop

UP NEXT

Silver Surges Past $35/oz Level to Hit a More Than 13-Year High

UP NEXT

Fresno Unified Will Provide Free Summer Lunches for Youth

UP NEXT

US Supreme Court Makes ‘Reverse’ Discrimination Suits Easier

Fresno Police Want Your Tips to Solve Taylor Washington Homicide

2 hours ago

Derek Carr Explains Mysterious Retirement. He Didn’t Want to ‘Just Take the Saints’ Money’

4 hours ago

What Do Valley Leaders Say About Trump’s Threat to Yank High-Speed Rail Funding?

4 hours ago

Were Cuts in Rooftop Solar Payments Legal? CA Supreme Court Hears Arguments

4 hours ago

Fresno Rainbow Pride Marks 35th Year with Saturday Parade and Festival

5 hours ago

Did That Clint Eastwood Interview Happen? Yes, Kind Of.

5 hours ago

Biden’s IRS Doubled Audits on the Wealthy, Data Shows

5 hours ago

Millions Would Lose Their Obamacare Coverage Under Trump’s Bill

5 hours ago

New CA Bill Would Streamline Solar Conversion for Dry Farmland

6 hours ago

Supreme Court Rules Catholic Charity Exempt From State Unemployment Taxes

6 hours ago

Israeli Military Strikes Beirut’s Southern Suburbs

(CAIRO) (Reuters) -The Israeli military said on Thursday that it was attacking Hezbollah targets in Beirut’s southern suburbs, and the...

36 minutes ago

36 minutes ago

Israeli Military Strikes Beirut’s Southern Suburbs

Webster, GV Wire's Adoptable Pet of the Week, June 5, 2025
41 minutes ago

Wondrous Webster Has the Makings of a Wonderful Family Member

43 minutes ago

Trump Threatens Musk’s Government Deals as Feud Explodes Over Tax-Cut Bill

2 hours ago

Fresno Police Want Your Tips to Solve Taylor Washington Homicide

4 hours ago

Derek Carr Explains Mysterious Retirement. He Didn’t Want to ‘Just Take the Saints’ Money’

4 hours ago

What Do Valley Leaders Say About Trump’s Threat to Yank High-Speed Rail Funding?

4 hours ago

Were Cuts in Rooftop Solar Payments Legal? CA Supreme Court Hears Arguments

5 hours ago

Fresno Rainbow Pride Marks 35th Year with Saturday Parade and Festival

Help continue the work that gets you the news that matters most.

Search

Send this to a friend