Key Highlights
- According to Zumper, there are markets where rents rising
- Airdna, short-term rental data firm, points to best markets for short-term investing at current time
It’s tough to be a landlord at any time but now is especially challenging with tenants struggling financially, eviction moratoriums still in place until December 31 and falling rents. BUT, some rental markets are seeing rising rents.
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Zumper, a rental platform, points to markets where rents are rising.
- Chesapeake, VA
- Rents increased +5.4% in September. Rent for a one-bedroom unit came in at just under $1,200/month
- 38th most expensive rental market in country
- Norfolk VA
- Rents for one-bedrooms increased +5.2%/month
- Rochester NY
- One bedroom properties increased +5.3%, the second highest increase in the US
- Two bedroom properties increased +4.3%
- Cleveland OH
- One bedroom properties averaged approximately $1,000/month
- City say fifth highest jump in rents in September
- Lincoln NB
- Rents increased +5.1% for one bedrooms in September
- One bedroom properties averaging $850/month
If you and/or your clients are interested in short-term rental properties and Airbnbs, Airdna, a short-term rental data firm, points to these markets (close-to-home, small/rural town getaways that are outside major cities):
- Castroville CA
- a perfect get-away for many Bay Area residents located one hour south of San Jose and 1.5 hours from San Francisco
- very little competition with only 27 active properties
- annual revenue potential of $114,000
- Slade KY
- Cherry Log GA
- Shenandoah VA
- Athens NY
- Apollo Beach FL
- Stanton KY
- Kerhonkson NY
- Two Harbors MN
- Gerton NC
Thanks to Millionacres Zumper and Airdna.
Also read: Hamptons Season Lingers into Fall and Winter, SmartStay Tech Growing Short-Term Rental Ecosystem, NYC Rents Rise at Fastest Pace in Four Years
