Rental Increases For the Tri County Area Ahead of Most Sections of California
The Bay Area and Silicon Valley rental increases continue to soar. This uptick in rentals is also a factor in the Los Angeles and San Diego areas as well. With rising costs in these market places, people are investigating a more feasible place to live. There has to be a better place and the Tri County area is standing out.
INVENTORY IS INCREASING
There is now an increase in inventory of homes and rentals for sale. Price per square foot (a substantial measurement) has been stable throughout the summer after a jump up in the late winter and spring. With inventory increasing, the seller’s market is expected to balance out for the next several months. This should equate to more choices and negotiating leverage for buyers. It’s the old supply and demand theory.
TIME TO BUY LOOKS PROMISING
With rental projections increasing (with no foreseeable end in sight), and the increase of inventory that is available for sale, it appears this is a promising and financially conservative time to increase your portfolio of rental properties. Here are some stats to consider:
▪ Sacramento: 9.9 percent increase in rents between June 2016 and June 2017 ▪ South Bay: $2,774 per month. ▪ Los Angeles metro: $2,302 per month. ▪ East Bay: $2,204 per month. ▪ Orange County: $1,992 per month. ▪ San Fernando Valley: $1,820 per month. ▪ San Diego: $1,810 per month. ▪ Central Coast: $1,712 per month. ▪ East Los Angeles: $1,683 per month.
▪ Sacramento: $1,364 per month.
Contact The Montuori Group for investment opportunities in the area. We also have trusted, in-house lending partners that can go over your individual lending options.
Work Hard, Get Ahead
The Montuori Group