Tampa, Fla.
Tampa, Fla.
Average home price (2011): $152,700
Projected home price (2014): $147,200
Gross rent (2011): $832
Projected gross rent (2014): $933

As home to many of Florida's retirees, rents in Tampa have bounced up and down a little, but have remained basically flat the past three years.

But with the local labor market on the mend -- the unemployment rate fell a point over the 12 months ended in May and is down to 10.5% -- rents are expected to take off, increasing about 12% over the next three years, according to Local Market Monitor.

Right now, the biggest housing problem in the area is that there is too much of it, according to Winzer. Last year, home prices dropped about 10% due to an oversupply of investment properties built during the boom.

Yet, Winzer projects returns for rental property investors should still exceed the national average by about 2.4% a year.

Last updated July 12 2011: 10:25 AM ET
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