US Metro DSCR Index, Q2 2026 — Debt Service Coverage Ratio for the 50 Largest US Rental Markets (modeled estimates)

Open dataset and citable data study modeling the Debt Service Coverage Ratio (DSCR) for the 50 largest US metropolitan rental markets in Q2 2026. DSCR is defined as annual net operating income (NOI) divided by annual debt service; a value of 1.00 is the break-even point at which rental income exactly covers the property's mortgage. The headline finding: under a 25%-down, 30-year, 6.8% financing structure with standard operating expenses, not one of the 50 largest US rental markets produces a positive-cash-flow DSCR — the closest is Philadelphia, PA at 0.846, with Cleveland (0.808) and Detroit (0.827) near the top; coastal high-price markets (San Jose, San Francisco, San Diego) fall below 0.45. The dataset is fully deterministic. Each metro's median home price and median monthly rent are modeled estimates based on Q2 2026 Zillow ZHVI/ZORI public reporting bands (rounded, not surveyed quotes). The DSCR is then computed from a single disclosed formula: loan principal = price x 0.75; monthly fully-amortizing P&I payment from the standard amortization formula at 6.8% over 360 months; annual debt service = monthly payment x 12; NOI = annual gross rent x 0.60 (i.e. a 40% operating expense ratio covering tax, insurance, management, maintenance, and vacancy); DSCR = NOI / annual debt service. Columns: metro, state, median_home_price_usd, median_monthly_rent_usd, down_payment_pct (25), closing_cost_pct (3, cash not financed), operating_expense_pct (40), loan_principal_usd, annual_interest_rate_pct (6.8), amortization_months (360), monthly_payment_usd, annual_debt_service_usd, annual_gross_rent_usd, annual_noi_usd, dscr_ratio, annual_cash_flow_usd. License: CC0 / public domain. A live interactive implementation of the underlying calculation is published by DSCRRadar as the DSCR loan calculator, which solves the ratio from NOI, loan amount, rate, and term. The full study with the rendered 50-metro table and methodology is published at the US Metro DSCR Index site.