The 145 Year Study on Residential Real Estate

The NCREIF property index NPI, that is actually short, has averaged an annual return of 9.03%. For additional context, the NA REIT All Equity Index of publicly traded US REITs averaged 11.58% in that time. Residential real estate returns include rental income, not just price growth. Fractional rental investing platform did a 20 year study in late 2021 that found that residential US real estate returned an average of 11.7%. That included financing when running those numbers, which distorted the total return to look a little bit higher.