6 of 10
Las Vegas
Rent as % of after tax mortgage payment: 125.1%
Median home price change, 2006-2010: -56.5%

Las Vegas, along with other Sun Belt cities like Miami and Phoenix, has been a housing disaster area, stuck with empty homes and condos since the big crash. But experts say it's now coming back -- it helps that people always want to live in sunny locales like Vegas. Dotan Y. Melech, co-founder of the asset and property management firm UnitedAMS, estimates that occupancy rates in Vegas are now nearing 95%.

More than half of sales in Vegas are now done in cash, which reflects high investor interest. Prospective buyers can now get a new house for far less than it would cost to build one, and because the rental market is strong, renting out property could bring in a good return.

NEXT: Jacksonville
Last updated March 29 2011: 9:31 AM ET
Housing bear David Rosenberg says that apartment REITs should continue their streak for the foreseeable future. More
From energy savings to college costs, Americans are getting a lot of breaks from Uncle Sam during this tax season. But get them while they last -- the good times are about to end. More
Houses look more affordable than ever. But prices will have to fall further before many Americans can actually afford to buy one. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.