The rental demand has been high in the Nashville area, I would say for at least a few years now. Nashville is such a transient city, and there are many different reasons why people relocate here. Whether it is the music industry, a job transfer, new scenery, or whatever the reason is, many have chosen to rent, at least at first. We also have a lot of universities in the city, especially for a city of its size. As the video from WKRN points out, we have had an influx of new renters who have entered the rental market, creating new demand. Of course, rental demand influences rental rates, and the average rents in Nashville have been steadily rising.
Mortgage rates have hit a record low according to reports this week. With rates in the mid 3's, many people considering renting should really reassess the possibility of homeownership. If you would like more information on rent vs own, please inquire below.
Jason Kaczmarski
The Ashton Real Estate Group of RE/MAX Elite
Send Jason an *Email*
No comments:
Post a Comment