We have had quite a few people ask us about rental prices in the area. One of the side of effects of the decline in prices is trapping families in a home which they have outgrown. Within the past 7 years, many young couples purchased their home with the intent to buy a bigger home as their family expanded. However, prices dropped and although they can continue to afford their current payment, their home is worth less than their loan amount. This creates the situation where they need to move for more space, but they are unable to sell their home. In this scenario, we have people who choose to rent their current home and then move to a larger rental home.
The question we get so often, “How much can I rent my home?” You are welcome to call us as we are always happy to answer your questions. You may also want to check out www.rentometer.com. Like any website, it is just running numbers so you have to use the site with care…it does not take into consideration neighborhood for instance. However, it does show you rental prices around your home to give you an idea of how much you could rent your home.