Best Cities for ROI Furnished Mid-Term Rentals: 7 Markets for 2025–2026
The best MTR investment cities in 2026 combine affordable acquisition costs with reliable demand from healthcare, military, corporate, university, and relocation renters. In our experience evaluating furnished mid-term rentals, Columbus, San Antonio, Jacksonville, Tampa, Charlotte, Nashville, and Phoenix stand out as markets worth researching for ROI potential.
What Makes a City Good for Furnished Rental ROI?
Affordable acquisition relative to rent. A lower purchase price can improve the starting economics, but only when the property can attract enough monthly rent to cover furnished-rental operating costs.
Multiple demand generators. The strongest markets are not dependent on one hospital or employer. Healthcare systems, universities, military installations, corporate offices, and infrastructure projects create a more diversified renter pool.
30–90+ day renter demand. A good MTR city needs people who have a practical reason to stay longer than a vacation but shorter than a conventional annual lease.
Manageable competition. High demand means less when hundreds of comparable furnished properties compete for the same renter. Neighborhood-level supply matters.
Resilient exit options. A property that can also function as a traditional long-term rental gives an investor another strategy if MTR demand changes.
For broader market research, see our guide to top U.S. cities for mid-term rentals.
Furnished Rental ROI Study: How We Compared the Markets
This furnished rental ROI study does not claim that citywide rent divided by citywide home value equals an investor’s actual return. Instead, it uses July 2026 Zillow home-value and rent benchmarks as a consistent starting point, then considers the diversity of MTR demand.
The simple rent-to-value indicator below is annualized citywide observed rent divided by typical home value. It is a screening metric, not cap rate, cash-on-cash return, or furnished-rental yield. Zillow’s rent data measures the broader rental market rather than furnished 30–90+ day properties.
| Rank | City | Typical Home Value | Avg. Rent | Simple Rent-to-Value Indicator | MTR Demand Advantage |
|---|---|---|---|---|---|
| 1 | Columbus, OH | $248,686 | $1,446 | ~7.0% | Healthcare, university, corporate |
| 2 | San Antonio, TX | $249,689 | $1,390 | ~6.7% | Military, healthcare |
| 3 | Jacksonville, FL | $286,646 | $1,610 | ~6.7% | Navy, healthcare |
| 4 | Tampa, FL | $380,300 | $1,992 | ~6.3% | Healthcare, military, relocation |
| 5 | Charlotte, NC | $397,231 | $1,752 | ~5.3% | Finance, corporate, healthcare |
| 6 | Nashville, TN | $434,068 | $1,834 | ~5.1% | Healthcare, corporate, university |
| 7 | Phoenix, AZ | $408,770 | $1,567 | ~4.6% | Healthcare, corporate, seasonal |
The best MTR investment cities are not simply the markets with the highest rent-to-value ratio. Strong healthcare, military, corporate, and relocation demand also matters.
1. Columbus, Ohio: Best Overall Value-to-Rent Starting Point
Why it ranks / Best for: Columbus ranks first in this screening study because its relatively low home-value benchmark combines with healthcare, university, government, and corporate demand.
Demand drivers: The Ohio State University, Ohio State Wexner Medical Center, Nationwide, state government, and the broader Central Ohio corporate market create several potential renter segments.
According to Zillow’s Columbus housing market data, the typical Columbus home value was $248,686 and average rent was $1,446 in July 2026.
Context: Columbus is not automatically a high-yield furnished market. Investors still need property-specific 30+ day comps near their target hospital, university, or employment center.
Columbus also had one of the stronger rent trends in this group: Zillow reported rents up 1.5% year over year in July 2026.
2. San Antonio, Texas: Best for Military-Driven MTR Demand
Why it ranks / Best for: San Antonio pairs one of the lowest acquisition benchmarks in this study with a distinctive military and healthcare demand base.
Demand drivers: Joint Base San Antonio, Fort Sam Houston, Brooke Army Medical Center, Lackland, Randolph, University Health, and other healthcare employers create several sources of extended-stay demand.
2026 numbers: Zillow’s July 2026 data put the typical San Antonio home value at $249,689 and observed rent at $1,390, producing a simple rent-to-value indicator near 6.7%.
Context: Zillow reported San Antonio rent down 1.9% year over year, so investors should not underwrite aggressive rent growth.
San Antonio illustrates why the best MTR investment cities cannot be selected using ratios alone. A property positioned correctly for Fort Sam Houston can have a different renter profile from one serving Lackland or Randolph.
3. Jacksonville, Florida: Best Balance of Military and Healthcare Demand
Why it ranks / Best for: Jacksonville combines a relatively attainable home-value benchmark with military, healthcare, and professional demand.
Demand drivers: Naval Air Station Jacksonville, Naval Station Mayport, Mayo Clinic, Baptist Health, and UF Health Jacksonville give the metro several identifiable extended-stay renter pools.
2026 numbers: Jacksonville’s typical home value was $286,646 in July 2026, while average observed rent was $1,610. The resulting simple rent-to-value indicator is approximately 6.7%. Zillow also reported rents up 1.6% year over year.
Context: Jacksonville is geographically large. A unit targeting Mayo Clinic should not be evaluated using the same location strategy as a property serving NAS Jacksonville or Mayport.
That micro-location issue is critical when interpreting furnished rental data. City averages help screen markets, but renter commute patterns determine whether a specific unit is competitive.
4. Tampa, Florida: Best for Higher Rent Potential
Why it ranks / Best for: Tampa carries a higher acquisition benchmark than the top three cities but also posts the highest citywide rent figure in this comparison.
Demand drivers: Tampa General Hospital, MacDill Air Force Base, the University of South Florida, healthcare employers, corporate relocation, and seasonal migration provide diverse potential demand.
2026 numbers: Zillow reported a typical Tampa home value of $380,300 and average rent of $1,992 in July 2026. That equates to a simple rent-to-value indicator of approximately 6.3%.
Context: Zillow showed Tampa rents down 0.9% year over year in July, so investors should stress-test pricing instead of assuming continued rent increases.
Florida investors also need to evaluate insurance, property taxes, HOA restrictions, storm exposure, and other ownership costs. A promising gross ratio can look very different after expenses.
5. Charlotte, North Carolina: Best for Corporate Relocation Demand
Why it ranks / Best for: Charlotte’s ratio is lower than the value-oriented leaders, but its finance and corporate employment base gives furnished-rental investors a compelling demand story.
Demand drivers: Bank of America, Wells Fargo, Atrium Health, Novant Health, UNC Charlotte, and expanding corporate operations support relocation and temporary professional housing.
2026 numbers: Zillow reported a typical Charlotte home value of $397,231 and average rent of $1,752 in July 2026, producing a simple rent-to-value indicator of approximately 5.3%.
Context: Charlotte may make more sense for investors prioritizing renter quality and diversified professional demand than those chasing the highest gross rent-to-price ratio.
The institutional outlook is also notable. CBRE’s 2026 Investor Intentions Survey ranked Charlotte fifth among targeted U.S. markets and specifically highlighted markets with strong job growth and more balanced supply-demand dynamics.
6. Nashville, Tennessee: Best for Healthcare-Led Professional Demand
Why it ranks / Best for: Nashville has a higher acquisition benchmark, but its healthcare and corporate ecosystem creates a substantial professional renter base.
Demand drivers: Vanderbilt University Medical Center, HCA Healthcare, Vanderbilt University, corporate employers, visiting professionals, and relocation activity can support furnished stays.
2026 numbers: Nashville’s typical home value was $434,068 in July 2026 and its observed average rent was $1,834, resulting in a simple rent-to-value indicator near 5.1%.
Context: Zillow reported home values down 3.0% year over year and rents nearly flat at -0.1%, which makes disciplined acquisition pricing especially important.
CBRE nevertheless ranked Nashville seventh among its most attractive U.S. investment markets for 2026, citing it alongside Charlotte as a Sun Belt market with robust job growth and more balanced supply-demand conditions.
7. Phoenix, Arizona: Best for Large-Metro Demand Diversity
Why it ranks / Best for: Phoenix has the lowest simple rent-to-value indicator in our seven-city screen, but its large economy and diversified healthcare and corporate demand keep it relevant for MTR investors.
Demand drivers: Banner Health, Mayo Clinic, Arizona State University’s regional footprint, semiconductor investment, corporate relocations, and seasonal residents broaden the renter base.
2026 numbers: Zillow reported a typical Phoenix home value of $408,770 and average observed rent of $1,567 in July 2026. That gives a simple rent-to-value indicator of approximately 4.6%.
Context: The citywide ratio suggests investors need to be especially selective about acquisition price, neighborhood, and achievable furnished premium.
Phoenix renter demand nevertheless showed encouraging momentum in the first half of 2026. Cushman & Wakefield reported renter-pool growth above 3.5% in Phoenix during that period, making demand worth watching even when citywide acquisition economics appear less attractive.
What the Furnished Rental Data Actually Tells Investors
The biggest finding from this furnished rental ROI study is that affordable markets can provide a stronger starting ratio, but the highest ratio is not automatically the best investment.
Columbus, San Antonio, and Jacksonville stand out because their July 2026 typical home values were below $300,000 while their simple rent-to-value indicators were around 6.7%–7.0%. Charlotte and Nashville have weaker citywide ratios but stronger institutional and professional-demand narratives.
The data also shows why investors should be cautious with the phrase high yield rental markets. The figures above are gross screening indicators. They are not projected MTR returns.
A furnished rental adds costs that a simple rent-to-value calculation cannot capture: furniture replacement, utilities, Wi-Fi, cleaning, vacancy, higher turnover, supplies, maintenance, management, and platform expenses.
How to Evaluate the Best MTR Investment Cities
- Start with the rent-to-value relationship. Use home prices and conventional rents to eliminate markets where the basic acquisition economics do not work.
- Identify 30–90+ day demand generators. Map hospitals, military bases, corporate campuses, universities, construction projects, and relocation activity. A market with three independent renter pools is generally more resilient than one dependent on a single employer.
- Research real furnished monthly comps. Compare properties with the same bedroom count, neighborhood, parking, utilities, furnishings, pet policy, and minimum stay. Do not simply multiply nightly vacation rates by 30.
- Calculate net operating performance. Our step-by-step mid-term rental pricing guide can help you account for the costs hidden by headline monthly rent.
- Stress-test the exit strategy. Calculate whether the property can survive as a traditional rental if MTR occupancy falls. Conservative investors should not require perfect furnished occupancy to make the property financially viable.
For corporate-heavy markets such as Charlotte and Nashville, our guide to marketing mid-term rentals to corporate clients can help hosts turn employment growth into qualified renter leads.
Best Cities for ROI Furnished Mid-Term Rentals: Final Ranking
Based on this 2025–2026 data screen, Columbus offers the strongest starting rent-to-value relationship, while San Antonio and Jacksonville combine attractive acquisition benchmarks with unusually clear military and healthcare demand.
Tampa offers stronger headline rent but requires closer attention to Florida ownership costs. Charlotte and Nashville deserve consideration for corporate and healthcare demand despite higher acquisition prices. Phoenix remains a major MTR market to research, but its citywide rent-to-value relationship demands more selective deal underwriting.
Most importantly, this ranking identifies markets to investigate, not properties to buy. A well-priced unit five minutes from a major hospital can outperform a poorly located property in the highest-ranked city.
If you’re evaluating one of these markets, use our landlord’s guide to mid-term rentals to build your strategy, then list your furnished property on ministays to reach renters looking for extended stays.
FAQ
What are the best cities for ROI furnished mid-term rentals in 2026?
Columbus, San Antonio, and Jacksonville stand out in our 2026 screening because they combine relatively low typical home values with citywide rent benchmarks that produce simple rent-to-value indicators around 6.7%–7.0%. However, actual furnished rental ROI depends on purchase price, MTR rent, occupancy, financing, taxes, utilities, insurance, management, and other expenses.
Which city has the highest rental ROI in this study?
Columbus has the highest simple rent-to-value indicator among the seven cities compared, at approximately 7.0% using July 2026 Zillow benchmarks. That is not an expected investment return or cap rate. Investors must calculate property-level furnished revenue and subtract all operating and financing costs before estimating actual ROI.
Are furnished mid-term rentals more profitable than long-term rentals?
Furnished mid-term rentals can command a premium because they include furniture, utilities, and flexible lease terms, but higher revenue does not guarantee higher profit. Hosts also pay for utilities, furnishings, Wi-Fi, cleaning, turnover, supplies, and potentially management. Compare net MTR income with the property’s realistic long-term-rental alternative before investing.
What makes a city good for mid-term rental investing?
The best MTR investment cities combine workable acquisition costs with multiple sources of 30–90+ day demand. Hospitals, military bases, universities, corporate relocations, major employers, and infrastructure projects can all create renter demand. Investors should also evaluate furnished competition, regulations, insurance costs, neighborhood safety, commute times, and long-term rental alternatives.
How should I calculate furnished rental ROI?
Start with annual collected rent and subtract operating expenses such as taxes, insurance, utilities, Wi-Fi, maintenance, cleaning, supplies, management, platform costs, HOA fees, and expected vacancy. Divide the relevant profit measure by your investment basis. For leveraged properties, calculate cash-on-cash return separately rather than relying on a citywide rent-to-value ratio.
Are high-yield rental markets always better for MTR investors?
No. A high yield rental market on paper may have weak furnished demand, high vacancy, unfavorable regulations, expensive insurance, or limited professional renters. Conversely, a lower-yield metro may produce a stronger individual MTR opportunity near a major hospital or employer. Property-level demand and expenses matter more than a citywide ranking.
Is 2026 a good time to invest in furnished rentals?
2026 offers opportunities, but market selection needs to be disciplined. CBRE reported that 74% of surveyed investors planned to buy more commercial real estate assets than the prior year, while Zillow data shows home values declining year over year in several cities in this study. Investors should use softer pricing selectively rather than assuming every market is a bargain.
