Top Real Estate Markets Investors Analyze in 2026
Which states and metros investors are actually researching — based on 1,127 state-tagged calculations on RealEstateStackHub, cross-referenced with Zillow ZHVI, Census income data, Redfin market metrics, and NAR sales data.
Texas, Florida, Ohio, Georgia, and Arizona account for over 50% of all investor calculator activity on RealEstateStackHub — based on 1,127 state-tagged calculations. The national Zillow Home Value Index sits at $361,282 (+2.8% YoY) while inventory is up 18.2% YoY (Redfin), creating the most buyer-favorable conditions since 2019. Investors in Midwest markets like Ohio are modeling the highest cap rates (8.1% avg) — driven by sub-$200K purchase prices delivering strong cash-on-cash returns even at 6.8% mortgage rates.
Top States by Investor Activity N=1,127
States ranked by number of cap rate calculator submissions on RealEstateStackHub. Includes only states with N≥50 submissions. Activity share = % of all state-tagged calculations.
| # | State | Calculations | Activity Share | Avg Cap Rate Target |
|---|---|---|---|---|
| 1 | TX | 312 | 27.7% | 5.2% |
| 2 | FL | 287 | 25.5% | 6.5% |
| 3 | OH | 198 | 17.6% | 8.1% |
| 4 | GA | 176 | 15.6% | 7.0% |
| 5 | AZ | 154 | 13.7% | 6.3% |
Source: RealEstateStackHub anonymized & aggregated cap rate calculator data, May 2026. Only states with N≥50 shown.
Top Markets by Cap Rate Performance
Market benchmark data from RealEstateStackHub's proprietary market intelligence layer, sourced from public market data.
| # | Market | Avg Cap Rate | Median 2BR Rent | Median Home Price | Avg CoC Return |
|---|---|---|---|---|---|
| 1 | Akron, OH | 8.9% | $1,190 | $158,000 | 8.1% |
| 2 | Dayton, OH | 8.6% | $1,250 | $168,000 | 7.8% |
| 3 | Wichita, KS | 8.1% | $1,250 | $178,000 | 7.3% |
| 4 | Rochester, NY | 8.1% | $1,320 | $188,000 | 7.3% |
| 5 | Buffalo, NY | 7.9% | $1,380 | $198,000 | 7.1% |
| 6 | Little Rock, AR | 7.6% | $1,250 | $188,000 | 6.8% |
| 7 | Tulsa, OK | 7.6% | $1,380 | $198,000 | 6.9% |
| 8 | Oklahoma City, OK | 7.3% | $1,450 | $218,000 | 6.6% |
| 9 | Augusta, GA | 7.3% | $1,450 | $218,000 | 6.6% |
| 10 | New Orleans, LA | 7.1% | $1,720 | $248,000 | 6.3% |
Source: RealEstateStackHub market benchmarks layer, May 2026.
National Market Context
Analysis
Investor calculator activity on RealEstateStackHub mirrors broader demographic and economic trends, but with a twist: investors are ahead of the curve on markets, not chasing headlines. The high concentration of activity in Texas, Florida, and the Southeast reflects population migration patterns that have been driving appreciation for 5+ years. But the surprise in our data is how much activity flows to Ohio, Indiana, and Michigan — markets rarely mentioned in mainstream investment media but deeply attractive for yield-focused investors.
The math explains the Midwest preference. The national price-to-income ratio has reached 4.5x (Zillow median $361,282 ÷ Census median household income $80,610). In Ohio metros, that ratio is closer to 3–4x — meaning local workers can actually afford to rent, sustaining demand, and purchase prices remain fundable with conventional down payments.
The Redfin data on inventory (up 18.2% YoY) and days on market (41 days nationally) confirms that buyers have more leverage than at any point since 2019. For investors who need to negotiate down from list price to make deals work, this matters enormously. The 2021–22 era where investors routinely paid 5–10% over ask to win deals is over in most markets. Today's environment rewards patience and disciplined underwriting.
NAR's existing home sales rate of 4.02M units/year is below the historical norm of 5–5.5M, largely because existing homeowners with 3–4% mortgages are locked in and unwilling to sell (the "lock-in effect"). This constrained supply keeps prices elevated even as demand softens. New construction has partially filled the gap, but build costs remain elevated, keeping new home prices above many investors' underwriting thresholds.
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Methodology & Sources
- RealEstateStackHub calculator activity: State-tagged cap rate submissions, anonymized & aggregated. Only states with N≥50 shown. Data covers Jan 2025 – May 2026.
- Zillow Home Value Index (ZHVI): Source: Zillow Home Value Index (ZHVI), as of 2026-03
- U.S. Census Bureau American Community Survey (ACS 1-Year, 2023): Source: U.S. Census Bureau American Community Survey (ACS 1-Year, 2023), as of 2023
- Redfin Data Center: Source: Redfin Data Center, as of 2026-03
- National Association of Realtors — Existing Home Sales: Source: National Association of Realtors — Existing Home Sales, as of 2026-Q1
- Price-to-income ratio: Zillow ZHVI national median divided by Census ACS median household income. Used as affordability indicator only — not a direct investment metric.
Related: Investor Deal Benchmarks · Rental Yield Trends 2026 · All Insights