Prices on Rental Properties Increasing
Jackson, TN. (WNBJ)-
A new study from NPR is showing prices on rental properties have risen about 21% since 2020.
The housing market is not the only market seeing an increase in pricing. Rental properties are also raising their rates. With investors buying into the community and new businesses booming in the city more people are settling down in Madison County. Max Maxwell (TC PROPERTY MANAGEMENT AND RENTALS INC. LEASING CONSULTANT) stated, “recently we had a lot of people that had transferred here to work at Conagra that transferred from Milwaukee. So, we had a lot of people like hey I’m coming from Milwaukee i need a place to stay.”
Because the demand has increased, pricing on rental properties is skyrocketing. Max Maxwell (TC PROPERTY MANAGEMENT AND RENTALS INC. LEASING CONSULTANT) informed us, “what may have only been what… $1,000 a couple years ago is now like 12 and 15 hundred.”
Though prices on rental properties are increasing the ramped increase on the housing market keeps rental businesses like TC Property Management and Rentals busy at work. Max Maxwell (TC Property Management and Rentals inc. Leasing consultant) stated, “I wouldn’t say we have any problem with renting property. It’s just a matter of having property available for the demand.”
If you are looking to rent property at this time TC Property Management and Rentals is accepting applications.