Region · Census Middle Atlantic division · Northeast
Middle Atlantic rental markets
New York, New Jersey and Pennsylvania. 3 states and 120 ranked cities, summarized by the median Overall across those cities.
The honest read
Middle Atlantic ranks #8 of 9 U.S. regions for rental investing, with a median Overall of 36.4/100 across its ranked cities, below the national median. 3 states make up this division.
A region grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 120 ranked cities in this region. The national rank compares all 9 regions on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | Region value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 6.4% | not measured |
| Rent growth | Growth | 4.4% | not measured |
| Home value growth | Growth | 4.3% | not measured |
| Population growth | Growth | -0.0% | not measured |
| Job growth | Growth | 0.5% | not measured |
| Price-to-income | Cash Flow | 8.2× | not measured |
| Unemployment | Stability | 4.5% | not measured |
| Rental demand | Stability | 61% renters · 395.3% vacancy | not measured |
| Income growth | Growth | 6.1% | not measured |
States in the Middle Atlantic division
Ranked by median Overall across each state's ranked cities. Each links to its full state analysis, and from there to its cities.
| Div rank | State | Overall score | Grade | Gross yield | Home-value growth | Price-to-income | Ranked cities |
|---|---|---|---|---|---|---|---|
| #42 | Pennsylvania | 39.8 | D | 8.2% | 4.9% | 4.2× | 28 |
| #45 | New York | 36 | D | 6.0% | 3.8% | 9.6× | 43 |
| #47 | New Jersey | 33.9 | F | 5.7% | 5.9% | 7.4× | 49 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.