SANTA CRUZ RENTAL MARKET 5TH MOST EXPENSIVE RENT IN THE NATION!
This is a follow up to a previous post I wrote about the Santa Cruz rental market in January. In a report that came out this week Santa Cruz has the 5th most expensive rents in the Nation! I know that we have a strong rental market but I was surprised at this. According to the study by the National Low Income Housing Coalition to afford an average rent 2 bedroom apartment a Santa Cruz worker must earn $30.58 per hour.
The most expensive metropolitan area rental market, according to the report, is Stamford, Conn. A renter must earn $32.75 an hour to afford a two-bedroom apartment there. The San Francisco rental market ranked second at $31.88 per hour, followed by Honolulu rental market at $31.37, Westchester County, N.Y., at $30.96, followed by Santa Cruz in 5th place at $30.58 per hour.
With these type of rents and home ownership affordability being the best in decades it is time to take a serious look at buying a home. Interest rates and negotiating buyer concessions are really helping people get into homes they could not have dreamed of owning 2 years ago.
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I'm Jessica Wallace - Your Santa Cruz Realtor - You can reach me anytime at (831) 419-9345 or via email at cjess4homes@yahoo.com
I look foward to hearing from you!
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