Roswell, Georgia Rental Home Market
Roswell, Georgia Rental Home Market
blog1.jpg

Jul 10,2017

Roswell, Georgia Rental Home Market

It’s not just caused by inflation, its high demand caused by fewer investors acquiring homes in Roswell. That’s likely because fewer homeowners are selling. People aren’t selling because home prices have also skyrocketed, just in the last two years.

Homeowners are not selling because there is no place for them to go if they want to buy in Roswell, Georgia. While rental and sale prices have been steadily climbing, wages have been pretty flat. It is still true today that when move-up people buy, they will buy a home about 50% more expensive than the one they are selling. These days, the delta is not as significant as it once was. To get a substantially improved position buyers have to spend more. It’s likely that they either don’t qualify for the higher price or it’s just outside of their reasonable budget.

The bottom line for Roswell, Georgia renters is that there are fewer and fewer homes available to rent and the prices are becoming unaffordable for most of the renting class. I noted on a recent search in Roswell, Georgia that the lowest price single family home rental that I could find was $1,650 per month. The least expensive single family attached (condo or townhouse) was $1,200 per month.

At these prices, to financially qualify for the entry level rental home, an applicant would need to earn about $55,000 per year. This is more than what most of the unskilled labor force in Roswell earns. This creates a real problem for the city because the labor force cannot afford to live in the city. That means they have to commute from outside the city. This discourages workers. Dealing with rush hour traffic directly affects quality of life. This worries employers because they experience rapid employee turnover. Turnover is expensive for the employer because the new hires have to be trained. This costs both time and money.

It’s not only employers like restaurateurs but even public sector jobs like firefighters and police. Those men and women that serve our community for safety sake cannot even afford to live here. That’s a real and growing economic problem.

If you are a landlord owning a home in Roswell, Georgia, you might want to hang on to what you have. Replacing a Roswell investment property is going to be difficult at best.

Please give 3 Options Realty a call and we can discuss any investment objectives you may have - 678-397-1282.


Daniel R. Wilhelm
Managing Broker
3 Options Realty, LLC.
http://www.3optionsrealty.com
678-397-1282

Recent Blogs

small1
Nov 30,2022
The Benefits of AI Tenant…

Rental property owners must conduct tenant screening, which is…

Read More
small1
Nov 22,2022
How to Handle a Difficult…

Landlords and property managers want happy tenants who take…

Read More
small1
Nov 15,2022
How to Handle Tenant Emergencies

Landlords and property managers must ensure tenants live comfortably.…

Read More

Landlord Options

small1
Owner Portal

In appreciation for your continued patronage, we are pleased to offer you a management fee rebate equal to 2 months of management fees for any…

Read More
small1
Leasing & Management

If you are interested in professional property management services, you probably have some questions about the process and we have a few questions we…

Read More
small1
Rent Disbursement

Standard Rental Proceeds Disbursement Policy. It is the standard policy of 3 Options Realty to disburse monthly rental proceeds to property owners between the 15th…

Read More

We Are Ready to
Take Your Call

lander1

If you have been rummaging through web results for “property management companies near me,” then you are at the right place. 3 Options Realty’s property managers in Atlanta are experienced and trained to deliver top-tier service. Call 3 Options Realty to speak with a friendly representative today to learn more about our property management & real estate services. We are ready to take your call.

Buy, Sell & Rent with 3 Options Realty

lander1

We use professional market research to determine fair-market rent, and we use broad market advertising to reach a large audience. Our agents will also help you prepare your property and skillfully present your property. Prospective tenants will undergo comprehensive interviews and background screening before we negotiate with them the rental agreement using our proprietary, attorney-reviewed forms.