Thursday, October 28, 2021 / by Vyral Marketing
Today we’ll discuss what is happening with rental prices. Many people are considering whether to rent or buy a home, and many investors are wondering if they should invest in real estate right now.
Rental prices have increased by 26% over the last two years. Conversely, rental prices in the MLS had only increased 28% percent over the last 19 years before that. In just two years, rental prices have increased at a rate that previously took 19 years. That's a lot higher than the current inflation rate.
What's interesting is that at the peak of the real estate bubble, rents were actually declining and then stayed flat for several years after. Low fixed interest rates are a huge benefit to buying now. The monthly mortgage payment will stay the same, whereas you can expect your rent to increase every year. Investors are also enjoying having fixed low mortgage payments as their tenants’ rents increase each year.
If you have any questions or if you're considering investing in real estate, give us a call. We’d love to hear from you and help in any way we can.