I wonder if competition is heating up for the renters and that is cooling prices somewhat.
Seems to be a lot of units are going up, at least in my area (Central Savannah Region Area).
These one and two bedroom units are not cheap (comparable to yours above, a little less), but they are filling up.
Glad my house is paid for, but property taxes went up $500, this year, a big increase relative to what I pay with Georgia's homestead exemption ($1300 before).
Real estate is very much a regional play in this country. Thus, your mileage will vary.
However, pulling back to the national level, the low vacancy rates means competition is not a significant factor in price discovery for rents.
Even at the regional level, however, competition is likely to be less than you might think, owing to the growing private equity footprint in rental real estate.
I wonder if competition is heating up for the renters and that is cooling prices somewhat.
Seems to be a lot of units are going up, at least in my area (Central Savannah Region Area).
These one and two bedroom units are not cheap (comparable to yours above, a little less), but they are filling up.
Glad my house is paid for, but property taxes went up $500, this year, a big increase relative to what I pay with Georgia's homestead exemption ($1300 before).
Real estate is very much a regional play in this country. Thus, your mileage will vary.
However, pulling back to the national level, the low vacancy rates means competition is not a significant factor in price discovery for rents.
Even at the regional level, however, competition is likely to be less than you might think, owing to the growing private equity footprint in rental real estate.