Crunch the numbers? Gladly.
Total investment to develop the Reds completely (hotels on all three properties) is $2930 (purchasing each property + 4 houses each + one hotel each). The rent for a hotel on the red is either $1050 (Kentucky & Indiana), which is 35.83618% of your investment, or $1100 (Illinois), which is 37.54266%.
On the Oranges however, a rent of $950 (hotel on St. James or Tennessee) nets you 46.1165% of your $2060 total investment, while the $1000 you’d get from your hotel on New York gets you 48.5437%.
These figures are assuming you have hotels on each property, which you need not do. If you, for instance, built up to four houses on each, and then only put a hotel on the most expensive property in each group (thus lowering your total investment while keeping the profit from that one property the same), you’d make only 41.8251% from the Illinois Avenue hotel, while the New York building would make you 53.7634% of your investment.
“Now wait a minute,” you might say. “That’s all well and good, but if I always land on the reds and never on the oranges it doesn’t matter one lick.”
Correct! But statistically you’re wrong there too. This page, which I believe to be accurate and informative contains a chart of probabilities of landing on a particular space with all the rules taken into account (including chance and community chest cards).
I’ve averaged the probabilites for landing on each square in either group, and the reds come in at an average of 2.9191% with a short jail stay (paying before your first roll), and 2.7248% with a long jail stay. The oranges come in at a slightly higher average of 2.9377% for a short stay and 2.771% for a long one.
Feel free to check my math, but I believe this is accurate. Monopoly is a hobby of mine.