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
