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A city at night: a faint skyline of many metros, one market's row of lit buildings with a gold-roofed tower, and a round glass resting on one building, showing it twice as large with one gold window framed01400 Metros02Your Market03Your Neighborhood

04Your Deal

+$226/mo

Monthly cash flow

Price
$165,000
Rent
$1,650/mo
Cash-on-Cash
5.6%
Cap Rate
7.7%
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Market Data to Deal Analysis

400 Metros Down to One Deal

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The PRIME Framework

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Five Phases. One Clear Path.

The PRIME Framework

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On Zillow, Redfin, Realtor.com and Homes.com, with break-even rent on Zillow search results: cap rate · cash-on-cash · DSCR

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Market Data

The Market in Numbers

What borrowing costs today, where rent pays the most against price, and the lines that frame both.

30-Yr Mortgage7.18%
WoW −0.06 pp
Freddie Mac · Nov 5
CPI, YoY3.7%
MoM +0.4 pp
BLS · Sep
Rent CPI, YoY2.8%
MoM flat
BLS · Sep
Unemployment4.1%BLS · Oct
Months of Supply8.4
MoM −0.1 mo
Census · Sep
Housing Starts1.22M
YoY −7.4%
Census · Sep

Source for the 30-year rate: Freddie Mac Primary Mortgage Market Survey. Every other figure names its own source and date.

Mortgage Rates Are Up 0.81 Points in Six Months, 2.32 Above the 10-Year

Updated Nov 7

The 30-year rate is 2.32 points above the 10-year yield. The historical norm is about 1.7 points. That extra spread is what lenders charge for risk.

4%5%6%7%8%MayJunJulAugSepOctNov 530-Yr Mortgage7.18%10-Yr Treasury4.86%Gap: 2.32 pphistorical norm ~1.7 ppMAY 7Mortgage 6.37%10-Yr 4.41%JUN 4Mortgage 6.48%10-Yr 4.47%JUL 2Mortgage 6.43%10-Yr 4.49%AUG 6Mortgage 6.69%10-Yr 4.69%SEP 3Mortgage 6.71%10-Yr 4.77%OCT 1Mortgage 7.28%10-Yr 5.24%NOV 5Mortgage 7.18%10-Yr 4.84%
4%5%6%7%8%MayJulSepNov 57.18%30-Yr Mortgage4.86%10-Yr TreasuryGap: 2.32 pp
View as Table
Date30-Yr Mortgage10-Yr TreasuryGap
May 7, 20266.37%4.41%1.96 pp
Jun 4, 20266.48%4.47%2.01 pp
Jul 2, 20266.43%4.49%1.94 pp
Aug 6, 20266.69%4.69%2.00 pp
Sep 3, 20266.71%4.77%1.94 pp
Oct 1, 20267.28%5.24%2.04 pp
Nov 5, 20267.18%4.84%2.34 pp

Source: Freddie Mac Primary Mortgage Market Survey (Nov 5, 2026) · U.S. Treasury 10-year yield (Nov 6, 2026).

Near Five-Year Highs: Mortgage Rates and Home Prices. Near Five-Year Lows: Housing Starts

Updated Nov 7

Each bar runs from the 5-year low to the 5-year high. The filled dot is today; the ring, where shown, is six months ago.

Today6 months ago30-Yr Mortgage7.18%2.98%7.79%30-Yr Mortgage: 7.18% is 87% of the way from its 5-year low (2.98%) to its high (7.79%), as of Nov 5, 2026FHFA Home Price Index450353452FHFA Home Price Index: 450 is 98% of the way from its 5-year low (353) to its high (452), as of Aug 1, 2026Fed Funds Rate3.88%0.08%5.33%Fed Funds Rate: 3.88% is 72% of the way from its 5-year low (0.08%) to its high (5.33%), as of Oct 1, 2026Unemployment4.1%3.4%4.5%Unemployment: 4.1% is 64% of the way from its 5-year low (3.4%) to its high (4.5%), as of Oct 1, 2026Housing Starts (K)1,2211,1821,807Housing Starts (K): 1,221 is 6% of the way from its 5-year low (1,182) to its high (1,807), as of Sep 1, 2026
Today6 months ago30-Yr Mortgage7.18%2.98%7.79%30-Yr Mortgage: 7.18% is 87% of the way from its 5-year low (2.98%) to its high (7.79%), as of Nov 5, 2026FHFA Home Price Index450353452FHFA Home Price Index: 450 is 98% of the way from its 5-year low (353) to its high (452), as of Aug 1, 2026Fed Funds Rate3.88%0.08%5.33%Fed Funds Rate: 3.88% is 72% of the way from its 5-year low (0.08%) to its high (5.33%), as of Oct 1, 2026Unemployment4.1%3.4%4.5%Unemployment: 4.1% is 64% of the way from its 5-year low (3.4%) to its high (4.5%), as of Oct 1, 2026Housing Starts (K)1,2211,1821,807Housing Starts (K): 1,221 is 6% of the way from its 5-year low (1,182) to its high (1,807), as of Sep 1, 2026
View as Table
Measure5-Yr LowLatest5-Yr HighAs Of
30-Yr Mortgage2.98%7.18%7.79%Nov 5, 2026
FHFA Home Price Index353450452Aug 1, 2026
Fed Funds Rate0.08%3.88%5.33%Oct 1, 2026
Unemployment3.4%4.1%4.5%Oct 1, 2026
Housing Starts (K)1,1821,2211,807Sep 1, 2026

Freddie Mac · Census · BLS · FHFA · NY Fed · trailing 5 years to Nov 5, 2026.

Cap Rate Runs From 3.9% in Illinois to 2.3% in Utah

Updated Nov 7

Cap rate proxy: a year of HUD Fair Market Rent on a three-bedroom home, less 50% for operating costs, divided by the home value. Darker tiles yield more. Tap a state to open its page.

AK2.9%Alaska: 2.9% cap rateAL3.1%Alabama: 3.1% cap rateAR3.2%Arkansas: 3.2% cap rateAZ2.9%Arizona: 2.9% cap rateCA2.5%California: 2.5% cap rateCO2.8%Colorado: 2.8% cap rateCT3.1%Connecticut: 3.1% cap rateDC3.0%District of Columbia: 3.0% cap rateDE3.6%Delaware: 3.6% cap rateFL3.6%Florida: 3.6% cap rateGA3.1%Georgia: 3.1% cap rateHI2.6%Hawaii: 2.6% cap rateIA3.4%Iowa: 3.4% cap rateID2.5%Idaho: 2.5% cap rateIL3.9%Illinois: 3.9% cap rateIN3.4%Indiana: 3.4% cap rateKS3.3%Kansas: 3.3% cap rateKY3.1%Kentucky: 3.1% cap rateLA3.3%Louisiana: 3.3% cap rateMA3.0%Massachusetts: 3.0% cap rateMD3.3%Maryland: 3.3% cap rateME3.2%Maine: 3.2% cap rateMI3.4%Michigan: 3.4% cap rateMN3.3%Minnesota: 3.3% cap rateMO3.3%Missouri: 3.3% cap rateMS3.3%Mississippi: 3.3% cap rateMT2.8%Montana: 2.8% cap rateNC2.9%North Carolina: 2.9% cap rateND2.6%North Dakota: 2.6% cap rateNE3.3%Nebraska: 3.3% cap rateNH2.8%New Hampshire: 2.8% cap rateNJ3.6%New Jersey: 3.6% cap rateNM2.9%New Mexico: 2.9% cap rateNV2.9%Nevada: 2.9% cap rateNY2.9%New York: 2.9% cap rateOH2.7%Ohio: 2.7% cap rateOK3.4%Oklahoma: 3.4% cap rateOR2.8%Oregon: 2.8% cap ratePA3.4%Pennsylvania: 3.4% cap rateRI2.8%Rhode Island: 2.8% cap rateSC3.0%South Carolina: 3.0% cap rateSD2.9%South Dakota: 2.9% cap rateTN2.8%Tennessee: 2.8% cap rateTX3.4%Texas: 3.4% cap rateUT2.3%Utah: 2.3% cap rateVA3.1%Virginia: 3.1% cap rateVT3.3%Vermont: 3.3% cap rateWA2.6%Washington: 2.6% cap rateWI2.7%Wisconsin: 2.7% cap rateWV3.7%West Virginia: 3.7% cap rateWY2.5%Wyoming: 2.5% cap rate
2.6% or less(7)2.7–2.9%(15)3.0–3.2%(10)3.3–3.5%(14)3.6% or more(5)
View as Table
StateCap Rate
Illinois3.9%
West Virginia3.7%
Delaware3.6%
New Jersey3.6%
Florida3.6%
Iowa3.4%
Indiana3.4%
Oklahoma3.4%
Michigan3.4%
Texas3.4%
Pennsylvania3.4%
Maryland3.3%
Nebraska3.3%
Vermont3.3%
Louisiana3.3%
Minnesota3.3%
Mississippi3.3%
Missouri3.3%
Kansas3.3%
Maine3.2%
Arkansas3.2%
Connecticut3.1%
Kentucky3.1%
Virginia3.1%
Alabama3.1%
Georgia3.1%
South Carolina3.0%
District of Columbia3.0%
Massachusetts3.0%
South Dakota2.9%
Arizona2.9%
North Carolina2.9%
Alaska2.9%
New York2.9%
New Mexico2.9%
Nevada2.9%
New Hampshire2.8%
Tennessee2.8%
Colorado2.8%
Rhode Island2.8%
Montana2.8%
Oregon2.8%
Ohio2.7%
Wisconsin2.7%
North Dakota2.6%
Washington2.6%
Hawaii2.6%
Idaho2.5%
California2.5%
Wyoming2.5%
Utah2.3%

HUD Fair Market Rents (FY 2027) and ZIP-level home values · Nov 7, 2026. State figures weight each metro by population. Tiles are a grid, not geography.

Highest Cap Rate Metros Over 250K

Updated Nov 7

The same measure as the state map, in metros over 250,000 people. It compares rent with price and does not say where to buy.

View as Table
MetroCap Rate
Peoria, IL4.8%
Scranton-Wilkes-Barre, PA4.1%
Cape Coral-Fort Myers, FL4.1%
Lakeland-Winter Haven, FL4.0%
North Port-Bradenton-Sarasota, FL4.0%
Port St. Lucie, FL4.0%
Davenport-Moline-Rock Island, IA-IL3.9%
Lubbock, TX3.9%
Fayetteville, NC3.9%
Syracuse, NY3.9%

HUD Fair Market Rents (FY 2027) and ZIP-level home values · Nov 7, 2026.

Atlantic City-Hammonton Leads Five-Year Price Growth, Up 68.9%

Updated Nov 7

Fastest five-year home price growth among metros over 250,000 people. Bars start at zero.

FHFA House Price Index · 5-year change · 2026 Q2.

Loan Stress Is Highest in Louisiana

Composite of serious delinquency, entrenched stress, forbearance and REO share. Top 8 states, 2025 Q4.

Fannie Mae and Freddie Mac loan data, REI Prime index · quarterly, 2025 Q4.

Three Thresholds That Frame the Market

Updated Nov 7

Meters show where a reading sits against the line that matters.

Mortgage Spread Over 10-Yr Treasury2.32 pp
0Norm ~1.74

Elevated. Lenders are pricing in extra risk beyond the Treasury move.

New-Home Months of Supply8.4 mo
0Buyer’s market above 612

Builders hold more inventory than buyers are absorbing.

Median State Cap Rate vs Mortgage Rate3.05%
0Mortgage 7.18%8

A typical all-cash yield sits well below the cost of debt, so leverage costs you cash flow unless rents or price terms beat the average.

Freddie Mac PMMS (Nov 5, 2026) · U.S. Treasury 10-year (Nov 6, 2026) · Census New Residential Sales (Sep 2026) · HUD Fair Market Rents (FY 2027) and ZIP-level home values · Nov 7, 2026.

How You Can Start with the PRIME Framework

Work the five phases in order. Each one has three drawers: Mindset, Strategies and Tools.

Three drawers in every phaseMindsetStrategiesTools
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