Charlotte

Charlotte

Rank: 6
Price/rent ratio: 4.85
Median sales price: $38,000
Median rent: $714
Vacancy: 8.5%

Pros: Several years of steady economic strength, rent growth, and relatively low vacancies—plus it's a major college town. The market could do well in the long term.
Cons: The local economy of this banking hub has suffered greatly since the financial crisis began. Layoffs and unemployment are on the rise.