Anybody know of a website where I could see rental vacancy rates, historical trends etc. if I am willing to invest in a specific zip code?

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This is a very “consulting” approach. Ideally you should know the market you’re investing in well enough to have confidence about what moves and what doesn’t. Across 8 rental properties in my hometown I’ve only had 3 empty weeks I can think of in the last few years. I didn’t approach it with data, I approached it with the question where do people really want to live, and can I get to a workable yield there. Then I thought about the type of property and tenants - some categories are bad. Do credit and reference check.

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It seems like a good hybrid approach is to use data to narrow down from nationwide to 3-5 candidate markets (current cap rate analysis(mostly rent/price ratio, consider tax/hoa) + factors to predict rent growth/appreciation(population growth, job market stability) + factors to predict the longevity of the property (year built, weather)) to ultimately evaluate a bunch of markets on 5,10,20 year ROI/ROC. Other things that may be important are market size(scalability) and proximity/accessibility to you.
Then within the 3-5 use much more “soft” criteria by making a lot of phone calls and spending time on the ground to pick your best option.
I’m working on a similar analysis myself if you’d like to compare notes shoot me a DM.

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NeighborhoodScout

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This is what I came to say. This is what I used when picking a market. Not sure how accurate it is though, average rents are def way off. I would always use rentometer for rent comps

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Usewheelhouse.com

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An investor friendly realtor can get you these as well.

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Try Housecanary.com

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AirDNA for short term rentals

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Short term rentals are a different ballgame. It’s much easier to use data aggregators because that’s how renters pick properties as well. Long term rental investing requires more market knowledge

Great answers and insights all! Appreciate! Me coming from a data savvy background/country and considering few areas, data is where I would like to start narrowing.

Couldn’t agree more that local info is always well revived from local agents.

Data-savvy country? Can’t wait for the data olympics!

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Mashvisor too. Haven’t used it but came across it.

Realtors have MLS access where you can see vacancies. Right now vacancies are all time low .

There are different MLSes covering specific areas.
Eg i use Bright MLS and can pull data from Richmond to New Jersey

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