Single-family rentals driving rent increases
Yahoo Finance has reported that the overall rise in rental home prices is not actually reflective of the entire market, but increases in 2021 are coming solely from single-family rentals. Apartment prices have actually decreased nationwide, down by 2.3% since January. According to Jonas Bordo, CEO & Co-Founder of Dwellsy, “Due to COVID19, renters want more space and control over access to their homes, and this has led to substantial new demand for single family rentals…” Data shows that single-family rental prices are up 15% driving an overall increase in median rent by 9.6%. It continues to be an excellent time to invest in rental property, and especially so in the Nashville market. Take a moment to learn more about our real estate investment services HERE!