With the fear of rising interest rates today’s Central Florida rental market is stronger than ever. Homes that are priced well in desirable locations are getting rented within just a few days of being listed.
What does this mean for home values? It is plain and simple, with the increasing amount of people moving to the Central Florida area rental prices will continue to surge and therefore home values will also continue to rise. Lenders are requiring more verification and proof of income so first time home buyers are struggling even more to secure their first home.
According to Rent Jungle the average price for a 2 bedroom rental in Orlando in 2013 was $970, in todays market this same rental is averageing $1157 an increase of over $180. Millenniums are more comfortable being able to rent and not worry about mortgage costs, home owners insurance, property management and for this reason I do believe that rents will continue to rise. For a homeowner that has a rental property this is great news. If you are able to increase your overall return on investment year over year you are able to put down more money on the equity owed on the house and pay of your mortgage sooner. If you own the home free an clear maybe it is time you speak to me about helping you find another valuable rental property. With the ever increasing population in Orange County and the amount of people flocking to Central Florida for job transfers there is an even greater need for rental properties. Let me show you properties in locations like Baldwin Park, Windermere, Lake Mary, Oviedo and Winter Park. All these locations have strong rental markets and strong resale values.
What are you waiting for? Call me today at 407-404-4041 to schedule a meeting to discuss your next rental property.
Call Albin Hubscher
Orlando Florida Realtor